Maharashtra-based P N Gadgil Jewellers today said the company is planning to open nine stores across the country and in UAE with investment of Rs 250 crore.
"By September 2015, we will add nine stores for gold and diamond jewellery including a second one in the US and one in Dubai.
"After the expansion in Maharashtra and new stores in Indore, Hubli and Goa, the company will have 20 stores and a presence in four states. The expansion will help PNG grow the top line by 60 per cent by end of 2017," P N Gadgil Jewellers Managing Director Saurabh Gadgil said in a release.
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For this expansion, the company is planning to invest Rs 250 crore, he added.
At present, P N Gadgil Jewellers has 14 retail stores in Maharashtra, Delhi and the US.
P N Gadgil Jewellers has also recently set up a new diamond jewellery factory.
"Our diamond factory, which has a capacity to produce 5,000 pieces a month, will design unique hand-made diamond jewellery that will amalgamate with evolving market. This new venture is just the beginning. There's a lot to be done," Gadgil said.
