Kirtilal Kalidas Jewellery is exploring opportunities to expand its retail outlet network through franchise model.
Suraj Shantakumar, Director – Business Strategy of Kirtilals, said the company sees potential for more opportunities through this model for expansion. “The market evolving rapidly and we are looking at different business models,” he said. The stores that will come up through the franchise model will be largely in tier-two cities and will also act as feeder stores for the existing Kirtilals outlets in the main cities. “The most important factor in the franchise model is having the right partner and these stores will be medium format stores,” he added. The current retail outlets of Kirtilals are company-owned and expansion through the franchise model will be finalised on a case to case basis.
It recently opened a franchise store in Salem. According to a press statement from the company, the showroom will be a one stop shop for diamond and gold jewellery.
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