Jewellery

Western India's very first jewelry mall -- Jewel World -- has been announced by the Vardhman Group, real estate entrepreneurs, to be built in the Zaveri Bazaar in south Mumbai. The Hindu News Service writes that the groundbreaking venture will be the first of its kind to offer high-end retailing of specialty jewelry. The proposed mall will encompass 80,000 sq. ft. and is set smack in the middle of the Mumbai Jewelry District.
As one of the pioneers of Whole Jewelry Retailing (WJR) the Vardhman Group is looking ahead to the growing target market of prosperous Indians. It is expected that in the not-to-distant-future, Indians will be spending more and consuming goods in larger volumes. This prediction has inspired the development of theme malls and large-format shopping centers which in turn will propel Indian retailing.
Vardhman Group's Managing Director Rajesh Vardhman explains: "Our research has predicted the demand for such formats in the country. While we have seen a large growth of modern retail formats, so far there have been no specialized formats catering to specific needs. With Jewel World we look forward to changing the current norms in the retailing industry and our plans for this segment are very aggressive.
Whole Jewelry Retail formats are expected to change the dynamics of the retailing industry over the next five years," says Rajesh Vardhman.
Jewel World will furnish consumers with an unforgettable jewelry shopping adventure centrally located in the heart of the country. The new jewelry mall will feature major national and international brands in one locale. The enterprise has already attracted select tenants including Dia Jewels, Al-Kans, Pranda and Emeralds.
The Vardhman Group is expanding its WJR format by building 4 additional malls in and around Mumbai within the next two years, informs The Hindu News Service.