Laabh to go overseas

Laabh, the wholly-owned subsidiary of Rajesh Exports Ltd, plans to hit the international market with its brand of Indian jewellery by the year 2008-09.

Talking to Business Standard, Vipin Sharma, chief executive officer of Laabh, said, "The international foray is very much part of our expansion plan and will take place by 2008-09." The company is targeting the non-resident Indians (NRIs) in foreign countries.

"We will be setting up our overseas operation targeting cities where there are NRI pockets," said Sharma.

The company is planning to enter cities like Torrento, New York, London in the West. While in West Asia, the first choice will be Dubai and in the Southeast Asia region it will be Singapore.

However, before this, the company wants to focus on India. It will be coming up with its outlets in tier II cities along with tier I cities. Laabh has also planned to increase its presence in the south due to the highest gold consumption there.

"We will be adding at least 30 stores in the south," he said.The cities that are of immediate focus for the company are Chennai, Thrissur and Ernakulam. Currently, the company has a presence in four cities in the South.

Laabh will store an exclusive range 3,000 pieces of designer jewellery, created by the R&D wing of Rajesh Exports. The company expects a turnover of Rs 250 crore by the end of the financial year 2007-08.