By: Swaminathan Balasubramanian
Last updated : August 20, 2018 4:05 pm
Mumbai based Jaganath Gangaram Pednekar Jewellers, established in 1965 started its humble beginnings with a store in Dadar. The leading retailer of Maharastra is on an expansion spree. In a chat with Retail4Growth, Anand Pednekar, Director of the company shares the expansion plans. Edited excerpts.
We have totally 11 stores in Maharastra. Out of that, 8 stores are in Mumbai and vicinity. We have remaining 3 outside Mumbai.
What are your store sizes and formats?
We are a traditional player in the market. Despite the gold retailers had become corporatized, our customers are with us generations after generations. So, we ensure that we are easily accessible to our customers. Our store size is of Thousand Five Hundred Sq.Ft. We are present in mostly in high-streets and jewelry markets.
How unique is your design and what is your typical spend on the store designs?
40% of our investment is on the stocks and 30% is for the property.
What are your expansion plans?
We think market outside Mumbai is having huge potential and players like us have a huge role to play. We are aiming 6 stores across Maharastra by the end of this financial year. The target cities are Pune and Kholapur.