Wednesday, August 03, 2005
Avenue Montaigne plans Rs 100 Cr. expansion
India's largest branded jewellery store 'Avenue Montaigne' is all set to foray into the international market with an investment of 100 crore in the next four years. It would be India's first international chain of branded jewellery stores and is expected to come up in the next two years While showrooms at Dubai, Singapore, Hong Kong, Malaysia, Thailand, UK and USA would be set up by 2007, the Aerens Group would also be opening more than 40 'format stores' across India. To begin with, three showrooms would come up in the National Capital Region (NCR) along with ten others in premium cities during the current fiscal year. The idea for 'format stores' came after it was found that a large gap existed in jewellery market in the organised and unorganised sector. Branded jewellery are either available in departmental stores or the family jeweller, and both not the right format for brand promoting. Avenue Montaigne claims that it was launched -- to cater to the needs and tastes of changing times. It would have one of the finest displays in the country and provide an expansive array of national and international brands under a single roof -- not found in India till now. Besides its own (yet to be introduced) 'Swaranjali' brand, Avenue Montaigne would market other international brands like Celeste (UK), Hammer (Germany), Carrera, Pierre Cardin, Espirit, Mexx (US) and Sogini Doro (Italy) along with over 30 leading Indian brands including Agni, Nakshatra, Sangini and Kiah.