Zen Diamond looks to open 100 stores in India in 5 years
Diamond jewellery brand Zen Diamond plans to open 100 stores across India by 2030, especially in quality malls, a senior company executive has said.The company has two stores in Mumbai, and has signed up for three more, two in the south and one in the north, taking the total to five by the end of this calendar year., according to the official.
"We are looking at retail expansion in India. We are planning to have 100 stores across India in the next five years, initially in the major metros, followed by tier II cities," Zen Diamond India Managing Director Neil Sonawala told PTI. He said the stores will be located in quality malls, which already attract consumers and already have the presence of international brands. For its India presence, the company has already invested Rs 100 crore, funded through internal accruals, he said.
"We plan to expand, at least up to 10-15 stores, through internal accrual. Post that, for 100 stores in India in the next five years, we will tap different channels for funding. Maybe it could also be a franchise or we could also have some other alternate funding arrangements. It's a bit premature to talk about that at this stage," he added. Currently, Zen Diamond has over 450 stores across 20 countries. Sonawala further said that Zen Diamond is launching an e-commerce platform and has also collaborated with Pernia's pop-up. "We are launching an e-commerce platform. So, we will also have a shop-in-shop in 4-5 Bernier outlets by the end of the year," he added.
When asked about the jewellery designs, Sonawala said, the Zen Diamond stores in India will have 75-80 per cent of selected international designs. "But, of course, in India we also need to blend with the local culture and the local taste and preferences. So, 20 per cent of designs are also created in India and which are more on the Indo-Western line. We are on the modern, trendy, international side of designs, ranging from Rs 20,000 and going all the way up to Rs 15 lakh. Our focus is everyday wear, evening wear and gifting," he added. For this purpose, the company has set up a manufacturing unit in Mumbai with a capacity of producing 5 lakh jewellery pieces annually," he said.
"We have a manufacturing unit in Mumbai. So, everything is made in India in our facilities. We have a capacity of close to 35,000-40,000 pieces a month. So, almost 500,000 pieces a year," he added. PTI
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
19 minutes ago
- Indian Express
UP govt revises SOP to boost financial autonomy of urban local bodies
The Uttar Pradesh Urban Development Department has revised the Standard Operating Procedure (SOP) outlining financial and administrative powers of urban local bodies (ULBs) in the state. Under the new guidelines, Nagar Panchayats will now be empowered to independently sanction development projects up to Rs 1 crore, while municipal Councils can undertake projects worth up to Rs 2 crore. This marks a significant jump from the earlier limit of Rs 40 lakh set in the 2021 SOP. Officials said the updated SOP is part of a broader set of reforms aimed at promoting decentralisation, improving transparency, and strengthening urban governance. One of the key changes allows the use of interlocking tiles on roads up to 3.75 metres in width, an infrastructure upgrade that aligns with modern urban planning needs. In addition to enhancing financial autonomy, the revised SOP has also introduced stronger accountability mechanisms. If a construction project is found to be substandard, 50% of the cost recovery will be borne by the contractor, while the remaining 50% will be recovered from the concerned engineers and administrative officials of the respective ULB. The district magistrate will oversee this recovery process. Urban local bodies have also been instructed to maintain ward-wise road directories and conduct GIS mapping of existing infrastructure to aid in more efficient future planning. 'It is a step towards reforms and would improve the quality and effectiveness of urban governance and at the same time increase transparency. These revised SOP norms also aim to promote decentralization,' claimed Amrit Abhijat, Principal Secretary, Urban Development Department.
Time of India
22 minutes ago
- Time of India
Prayagraj's women lead the way with 46.71% workdays under MNREGA
1 2 Prayagraj: The state government's relentless efforts towards women's empowerment and employment have yielded impressive results in Sangam City. Under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), women's participation in total workdays generated has reached an encouraging 46.71 per cent. A total of 1.60 crore jobs (manav diwas) have so far been created under the MNREGA scheme across the state in the financial year 2025-26, out of which women contributed to the creation of more than 72 lakh jobs. The contribution of about 45 per cent is the highest so far. Interestingly, women are also proving helpful for MNREGA management and supervision. The number of women mates employed under the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) has increased in the current financial year. Over 5,500 women mates have been employed, marking a 3 percent rise from 41.87 per cent in 2024-25. Deputy commissioner (MNREGA) Gulab Chandra said, "As many as 6,112,887 jobs (manav diwas) have so far been created in the Prayagraj district during the financial year 2024-25. The percentage of workdays of women workers in the total workdays created has been 46.71%, which is more than the state average." He said, "The responsibility of rozgar sevak (women mate) given to rural women under MNREGA is bringing a big change in their lives." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo Chandra said as many as 852 women mates were employed in the district in the financial year 2024-25. The govt provides an honorarium of Rs 325 per day to these women mates. In this way, it turned out to be a source of additional income for them along with their household work. Namrata Devi, a resident of Arjun Patti Gram Panchayat of Handia development block of the district, says that her husband Akhilesh works in a rubber factory, but the basic needs of the house were not met. After being appointed to the job of a mahila mate in MNREGA, she is able to get extra money every month and manages the house smoothly. Sushila Devi, a resident of Jagua Sodha Gram Panchayat of Handia development Khand, claims, "Despite her work as a welder, the education of two children and household expenses were not met with this amount." She said that with the income she gets from MNREGA mate, she is able to cover the education expenses of her children.
Time of India
22 minutes ago
- Time of India
Sugar minister pays a surprise visit to Malaprabha Sugar Factory in Belagavi
Pic: Minister Shivanand Patil hears grievances at Malaprabha Cooperative Sugar Factory on Saturday evening Belagavi: Sugar minister Shivanand Patil went on a surprise visit to the Malaprabha Sugar Factory at MK Hubli on Saturday evening. He received a barrage of complaints from farmer leaders, workers, as well as the management board. In the wake of complaints received about the Malaprabha Cooperative Sugar Factory, minister Patil visited to the factory on Saturday evening. He experienced a shower of mutual complaints from farmer leaders, workers, and the management board about the poor condition of the factory. The farmers' association leaders complained that the money for supplying sugarcane to the sugarcane growers was due. They said the factory suffered losses due to the corruption of the management board. Some members of the management board had resorted to looting, resulting in crores of rupees being lost, they accused. The chairman of the board of directors explained to the minister that the reason for the loss of the factory was the competition of sugar factories in the district and the conflict between the farmer leaders. Anand Huchagoudar, a leader of the farmers' association, said that the factory's poor condition was due to the shortcomings of the previous and the current board of directors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like เทรด Bitcoin และ Ethereum - ไม่ต้องใช้กระเป๋าเงิน! IC Markets เริ่มต้นตอนนี้ Undo "The boards of directors showed low sugar yield. They illegally stocked a large amount of sugar and misused it. We detected this irregularity and complained to the deputy commissioner.A complaint was filed with the Lokayukta along with documents regarding the irregularities. We also gave the records of the telephone conversations of those involved in the irregularity to the Lokayukta. Even though the govt appointed an officer for the post of managing director, the board of directors did not allow him to take charge and appointed whoever they wanted," he said. Basavaraj, the chairman of the board of directors, said that the increase in the number of sugar factories in the district is also one of the reasons for the loss. The required amount of sugarcane is not coming to the factory. There is also a non-cooperative attitude of the farmers' association leaders, he said. The factory suffered losses due to the mismanagement of those in power, explained farmer leader Basavaraj Mokashi. Farmers demanded to dismiss the management board immediately; investigate the irregularities and recover the money; avoid the looting that going on even though the factory at a loss; run the factory with assistance from the govt and appoint a govt official for the post of MD. Officials explained to the minister that the factory took a total of Rs 135 crore from various banks and financial institutions. The loan, including interest, amounts to Rs 160 crore.
