Rajesh Exports Limited, the Bangalore-based jewellery exporter, plans to open 43 retail outlets under its retail brand SHUBH Jewellers in Karnataka.
The company currently operates 82 outlets in the state and aims to take it to 125 outlets.
After the completion of its expansion in Karnataka, the company plans to enter into other south Indian states like Andhra Pradesh, Tamil Nadu and Kerala, the company said in a filing to the National Stock Exchange.
Started in 1990, the company runs a gold jewellery manufacturing facility at Bangalore, where it refines gold and makes jewellery for export markets. It has an annual capacity to process 250 tonnes of gold.
