D'damas eyes 150% sales growth this fiscal

D'damas, a joint venture between Gitanjali Group and Dubai-based Damas, is aiming for a 150 per cent growth in diamond jewellery sales in the country during this fiscal.

"We are planning for a massive expansion plan during this fiscal. Due to this reason, we are expecting a 150 per cent growth in jewellery sales," Dharmesh Sodah, president, D'damas, told mediapersons here on Thursday.

D'damas currently has only five exclusive outlets across the country. By end of December, the company plans to open another 45 exclusive outlets, of which around 12 will be in south including three in Andhra Pradesh.

"Each outlet will cost between Rs1 crore and Rs 2 crore, so we will open these outlets in a franchisee mode," he said.

Last fiscal, the company registered a turnover of Rs 40 crore. It, however, is aiming to touch a turnover of Rs 100 crore by the end of this fiscal, Sodah added.