New Delhi, 13 June, 2024: Jewels by Preeti, one of India’s leading diamond manufacturers, announced its plan to open 15 retail stores across major cities in India by the end of this year. This strategic expansion aims to capture a significant share in the offline market and cater to the growing demand for trendy and timeless diamonds in India.
In the initial stage of expansion, Jewels by Preeti is planning to open seven stores in the metropolitan hubs of Mumbai, Delhi, Bangalore, Pune, Hyderabad, Chennai, Kolkata, and Ahmedabad. Through this, the company aims to reach last-mile customers by creating offline outlets.
Commenting on the expansion plans, Dr Preeti Jain, founder, Jewels by Preeti said, “We are poised to make a significant impact on the diamond jewelry industry with our store launch plan. It is a pivotal step for us to reach a wider audience, offering astute customers of both the upper and middle classes an abundance of access to purchase top-notch quality diamond jewelry. We strongly believe that there is substantial untapped potential waiting to be unlocked, and this is just the beginning.”
“Lab-grown diamond markets have gained significant momentum in recent years, offering customers an eco-friendly alternative to mined diamonds. Jewels by Preeti’s retail stores will showcase a stunning array of natural and lab-grown diamond jewelry, from classic solitaires to contemporary designs, catering to diverse tastes and preferences,” she further added.
The company has sold around 8,000 units of diamond jewelry and established a customer base of around 3000 clients in a span of 14 years. Additionally, the company intends to expand its workforce by hiring 300 employees to drive its growth strategy.
