"We plan to set up a watch manufacturing unit in Himachal Pradesh," Morellato & Sector CEO Massimo Carraro said here.
Morellato & Sector is an Italy-based jewellery and watches manufacturer.
"We will manufacture as well as have an assembling facility for watches in India by 2009," he said.
The company will set up its manufacturing unit in Himachal Pradesh, since there are some duty advantages available there, he added.
The manufacturing unit would commence by end of 2009 and the company may consider exporting watches to nearby countries from this unit, he informed.
Speaking on its retail expansion plan, Gitanjali Lifestyle President Sadanand S Pawar said that the company was planning an aggressive expansion for its lifestyle business.
"Initially, for the manufacturing unit and retail expansion, we plan to invest around $16-million but if needed we might invest more," he said.
"The company plans to have around 1,000 to 1,100 sales points by 2010 for its lifestyle business," Pawar said.
Presently, Gitanjali has around 250 sales points in various formats like Lucera, Hoop, Nakshatra, Just Cuts, Greggio and World of Solitaire.
The company will also start a new format store called 'Bezel' by August, he said.
