Lalithaa Jewellery, one of the leading jewellers, is opening its showroom here on April 20, the eighth outlet of its retail chain in South India.
The showroom set up at a cost of Rs 175 crore will have a stock of 500 kgs of gold ornaments, two tonnes of silver articles and 5,000 carats of diamonds, by which the company is expecting to have a sales turnover of up to Rs 8 crore a day, its chairman and Managing Director M Kiran Kumar told reporters here today.
With a motto that people of all the strata should have the affordable purchasing power, the company was selling ornaments with lesser profit margin, making a two per cent of gross profit.
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Stating Lalithaa was offering jewels at a wastage of zero to seven per cent across its entire range, very few at eight to nine per cent, without any making charges, he said that diamond jewels were sold at manufacturing price with no wastage or making charges.
The company plans to expand its footprint in Tirupati and Vishakhapatnam by end of the year, he said.
