Rajesh Exports - Business Line

Presence in 100 countries in five years'

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About 700 designs have been exclusively created for the project that is expected to take off in the first quarter of the next financial year.

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MR RAJESH MEHTA

Bangalore March 22 Jewellery manufacturer Rajesh Exports is set to launch its own brand of diamond jewellery for the international market. It is in talks with international retailers for this venture, which will also mark the company's foray into diamond jewellery manufacturing.

Mr Rajesh Mehta, Chairman, Rajesh Exports, said: "We want to be present across the globe and are targeting two clients in every country.

In five years, we want to be present in 100 countries. This is perhaps the first time any Indian brand will be sold with a `made in India' tag in the world market."

About 700 designs have been exclusively created for this project that is expected to take off in the first quarter of the next financial year.

Although the brand name has not yet been finalised, it is expected to be an international name with a universal appeal. The diamond jewellery will also be sold in the company's Shubh and Laabh outlets in India.

The company is also in talks with a few large-scale international departmental stores and jewellery chains in the US, Europe and Japan to sell white labelled branded goods — that is products branded under the client's name. Till now, Rajesh Exports had only been supplying to wholesalers and bulk consumers. "This is the first time we are in talks directly with retailers," said Mr Mehta. The company has an array of 1,200 gold jewellery designs for this venture that will take off in September. "The pieces will be in the Western standard in 9k, 10k, 12k and 14k gold," said Mr Mehta.

As part of its domestic retailing, Rajesh Exports will invest $5 million in its joint venture with Fossil Inc, which will also invest an equal amount.

Rajesh Exports looks to start manufacturing of 8-10 brands under the Fossil umbrella (including Diesel, Armani and DKNY) at a proposed site in Himachal Pradesh. It will be an assembling plant, said Mr Mehta. Fossil products will be sold at the Shubh and Laabh outlets, apart from outlets of OyzterBay, which Rajesh Exports acquired last year.

OyzterBay will be the fashion jewellery brand of Rajesh Exports. The brand will be present in 30 stores — both in the standalone and shop-in-shop formats — by September. Going forward, it will be present in 150 stores (in both formats) in the next 24 months.

Rajesh Exports plans to have 200 Laabh stores in two years and 100 Shubh stores in the South by December. Shubh stores are expected to be launched by September.

The company will invest Rs 450 crore in the next 18 months on all its ventures.

It is looking to finish this financial year with a turnover of over Rs 6,000 crore.