Gitanjali plans to explore new franchise model

Gitanjali Gems Ltd., the leading jewellery company and the owner of the brands like Nakshatra, Asmi, Gili, D’damas and Sangini, is mulling a new format of franchising as a measure for expansion. According to the new franchise agreement, Gitanjali will purchase products worth Rs.50 lakh - 1 crore from the franchisees and will provide them with branded Gitanjali products, informs Santosh Srivastava, COO, Gitanjali Group. The preferred location for the franchised outlets is either a high street or jewellery market. The area requirement for such a shop is 400-800 sq. ft. Gitanjali will prefer someone willing to work in a branded product line. Experience in jewellery with local goodwill will be another important criterion.