Laabh Jewellers to expand in Uttar Pradesh

Laabh Jewellers, an enterprise of Rajesh Exports Ltd (REL), is set to tap the Rs 1,000 crore gold market of Lucknow.

The jeweller will provide 3,000 exclusive designs under the 22 carat category, and jewellery items from other states will be available. Speaking on the occasion of the Laabh store, Laabh Jewellers CEO Vipin Sharma said: "With our network and the backing of Rajesh Exports we can offer the best to consumers."

"The gold retail market in our country is still untapped, with major brands in the diamond segment. In the gold market, branded players are almost negligible. We want to fill the gap," Sharma said.

Laabh has a transparent pricing policy, which is based on the day's gold price derived from the prevailing international price and suitable making charges. Speaking at the launch, Ashesh Gulati, franchisee of Laabh Jewellers in Lucknow, said: "The buyback guarantee with us is reassuring."

In the first phase, Laabh outlets have been launched mainly in many state capitals. It aims to extend its presence in tier two cities in the next round of expansion. Laabh is aiming to have 30 stores in 23 cities in the country.