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SRS Expands Jewelry Operations
Aug 30, 2012 5:08 AM
By Dilipp S Nag
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RAPAPORT... Diversified diamond company SRS Ltd. recently launched a new jewelry wholesale outlet in Mumbai and Ahmedabad each with an aim to strengthen its operations in India’s biggest jewelry market.
“Our new wholesale outlets in Mumbai and Ahmedabad are the steps towards expansion of our countrywide operations,” said Sunil Jindal, the managing director of SRS Ltd. “We aim to further strengthen our position with new retail and wholesale stores in many more cities of India.”
SRS noted that its new outlets will be focused on the jewelry and gold bullion wholesale business. The company stated that SRS Jewells is growing at a compound annual growth rate of approximately 25 percent and achieved sales of $323 million (INR 18 billion) in fiscal year 2011-12.
The company now has five SRS Jewells retail stores in cities including New Delhi, Faridabad, Palwal and Ghaziabad and four wholesale stores. SRS also has business interests in retail, food and beverages, multiplex cinemas and fashion wear.
*Note: All data was published in rupee. Any references to U.S. dollar amounts were made according to exchange-rate conversions by Rapaport News.
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Tags:
bullion, Dilipp S Nag, gold, India, Jewelry, Rapaport, SRS, SRS Jewells
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