Mumbai-based Sanguine Industries is planning to add 28 more stores under its moissanite jewellery brand ‘Fiona’ by the end of the next financial year, according to its director Parag Agrawal.
“Each of the proposed retail stores will entail an investment of Rs 50 lakh and will be located in high-street zones targeting the upper middle class and the cream class,” he said. Sanguine has appointed master franchisees in all major states to fuel its expansion plans. The company currently operates 22 Fiona stores across the country.