Gitanjali Gems to foray into luxury retail market through "Luxury Connexions (Lx) & Luxury Malls"

Gitanjali Gems Ltd has announced that the Company's Group intends to foray into the luxury retail market through its new venture "Luxury Connexions (Lx) & Luxury Malls". The Group plans to invest Rs 100 Crores over next 36 months for establishing luxury malls across the country and acquiring international brands which would be sold through the "Luxury Connexions (Lx)" outlets.

About Luxury Connexions (Lx): The Insignia of Luxury

Luxury Connexions (Lx), a part of the Company's Group, is an interface between growing Luxury Business in India and International Brands keen on entering the country. It is being positioned to facilitate and promote the growing Luxury Retail Market in India vis- a-vis International Brands.

About Luxury Malls

The Company's Group plans to bring Luxury Malls in 8 leading cities of India to begin with Hyderabad and thereafter Mumbai, Bangalore, Delhi, Kolkata, Ludhiana, Chandigarh and Chennai. Luxury Malls would become a destination, housing all Global Brands covering World Class Fashion stores, Fine-dine Restaurants, Spa's, International Jewellery Brands, connected wedding stores encompassing Designer Products finely bundled with personalized Services to suit the need of creme de la cream.

Source : Equity Bulls

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