"Expansion of these outlets would entail an investment of around Rs 12-14 crore including the inventory in these stores and would be funded via a mix of debt and internal accruals," Suwarnsparsh Gems and Jewellery chairman and managing director Vimal Patel said here.
Established in 2009, Suwarnsparsh retails 1-gram jewellery and astro-gems so far through its 65-odd outlets mostly in Maharashtra.
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"The recessionary trend in the economy in the past 2 years has acted as a barrier for new entrants to foray into this segment. However, having survived this critical phase, we are now in a vantage position to leverage and reap the fruits of the growth phase in the macro-economy ahead," Patel said. Suwarnsparsh has also backward integrated into manufacturing and thereby have been able to pass on the price-benefit to the end-consumer as also improve its own operating margins.