PC Jeweller to expand retail presence, add 30 stores to boost overall sales

By

Maverick Martins

Published
Oct 16, 2017

India’s jewellery major PC Jeweller is planning to expand its retail presence by adding 30 new stores across the country to boost overall sales of the company, said a top company official.
 

The jewellery brand is expecting sales revenue of above Rs 10,000 crore (approx $1550 million) from its domestic and global exports in this financial year.
 
PC Jeweller had reported a net profit of 135.83 crore rupees (approx $20 million) in the first quarter of the financial year.

Both domestic and international sales had also witnessed a boost and revenue from sales in India rose to 1,382.55 crore rupees (around 208 million dollars) from 1,049.79 crore rupees (approx $158 million) last year. Income from exports had risen to 735.99 crore rupees (approx $111 million) from 614.68 crore rupees (approx $ 92 million) the year before.
 
“We will be adding about 30 retail stores this fiscal. These new stores will also contribute in our overall sales. We are focusing on expanding in tier I and Tier II locations to leverage the income growth and brand awareness in such locations,” MD Balram Garg was quoted as saying by a news agency PTI.
 
"We achieved around 30 per cent growth in the first quarter of this fiscal. We expect to maintain this growth in the next three quarters. The company is expecting growth in sales from both domestic as well as export markets,” he added.
 
The jewellery major had recently signed star couple Akshay Kumar and Twinkle Khanna as its brand ambassadors to enhance its national presence. The company has also earmarked Rs 100 crore (approx $15.5 million) for the current fiscal on all its marketing activities.
 
Established in 2005, PC Jeweller has a presence in 85 showrooms across 67 cities & 20 states.