Multi-brand jewellery chain Bandhan Jewels launches in Mumbai
Bandhan Jewels, a multi-brand jewellery retail chain, just launched its business in Mumbai and aims to open ten to 15 stores in the coming year and be a 100 plus store chain in five years.
The new business Bandhan Jewels is a joint initiative of Style Quotient Jewellery Private Limited, Jewellery & Lifestyle Mart India, and P.N. Gadgil. The multi-brand retailer, which just launched with an event in Mumbai, has partnered with jewellery brands from India and abroad and will be retailing Being Human Jewellery, Rio Tinto Diamonds, Kisna Diamond Jewellery, Farah Khan Fine Jewellery, and Australian Diamonds among others across India in the near future.
At the launch event, the Managing Director of PNG Jewellers and Director of Style Quotient Jewellery, Saurabh Gadgil, explained: “In phase one we have identified ten cities which includes Delhi and Mumbai and then we are looking at other towns such as Bangalore, Lucknow, Bhopal, Raipur, Chandigarh, [and] Patna. Our target is to set ten to 15 stores in these towns in the next one year; making Bandhan Jewels a 100-plus store chain in five years.”
The business aims to allow jewellery manufacturers to reach out to customers through its own retail infrastructure. “The platform is unique because it brings mid-sized retailers together and gives them operational efficiencies of national and international brands; allowing them at the same time to sell generic Value For Money jewellery,” explained Prasad Kapre, the CEO and Director of Style Quotient Jewellery. “In this manner, the associated retailers can compete with local jewellers in their area and offer a variety to the customers making them a one-stop-shop.”
The business also plans to bring on board more international jewellery brands soon and also aims to expand to Tier 2 and 3 cities.
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