Gitanjali Lifestyle to assemble Italian watches

Gitanjali Lifestyle, the 100 per cent subsidiary of Gitanjali Gems, intends to begin assembling Italian brand of watches like Moschino watches in India by 2009. The company would set up a plant for the same in the country.

Recently, Gitanjali Lifestyle entered into a joint venture with the Italian group Morellato to showcase international brand of watches like Roberto Cavalli, Nina Ricci, Sector watches, Just Cavalli, Miss Sixty and Philip watches in India.

The company will market these brands under its new multi-luxury retail outlets Bezel. It intends to set up 27 such retail outlets in two formats by the end of the fiscal 2007-08.

"We will be setting up two formats of retail outlets; one is Bezel, which will exclusively showcase branded watches, while the other will be Gitanjali Lifestyles stores where we will also showcase products of Greggio, the world's largest silverware processor," said Shashank Pathak, vice president - Lifestyle Retail, Gitanjali Lifestyle Ltd.

According to Pathak, most of the Bezel stores will be franchised, with 40 of them to be set up by next financial year. A combined investment of Rs 5 crore has been set aside by the company for the initial 27 stores, most of which will come up in the NCR.

Apart from silverware and jewellery, the Gitanjali Lifestyle stores will also feature perfumes, lifestyle products like sun-glasses, among other things in its merchandise.

For apparels, Pathak said the company would allow well-known fashion designers to open their own outlets in the company stores. Meanwhile, a prototype of both these formats is being set up in Gurgaon, added Pathak.