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TBZ Expands Retail Network in Maharashtra
Jan 15, 2013 2:20 AM
By Dilipp S Nag
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RAPAPORT... Jewelry retailer Tribhovandas Bhimji Zaveri Ltd. (TBZ) opened a showroom in Nagpur city on Tuesday, expanding its reach in India’s western state of Maharashtra. The new store will cater to the needs of local communities in the Vidarbha region.
The company said that the opening was timed to serve customers during the auspicious Uttarayan, known as Makar Sakranti in other parts of India, and the pre-wedding buying season. The 2,500-square-foot showroom is located at Dharampeth in Nagpur.
TBZ stated that the store showcases a recently unveiled range of bridal collections and a showstopper gold and diamond jewelry collection for parties and other special occasions. The jeweler is offering discounts on making charges of jewelry until January 22, 2013.
In the past few months, TBZ has opened nine showrooms in the cities of Pune, Mumbai, Vadodara, Kolkata, Vapi, Bhavnagar, Vasai and now in Nagpur, bringing its total number of showrooms to 22 in six states.
In April, TBZ raised approximately $36 million (INR 2 billion) through an initial public offering (IPO) that will fund its expansion and provide incremental working capital requirements. The company plans to open 43 showrooms by the end of the 2015 fiscal year.
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Tags:
Dilipp S Nag, India, Jewelry, Maharashtra, Nagpur, retail, TBZ, Tribhovandas Bhimji Zaveri
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