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Two Jewellery ‘Concept Malls’ Launched In Hyderabad
Posted by Pradeep Sadanapalli | November 3, 2007 | 1,818 views
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Loading ...On Thursday, Hyderabad got two contrasting ‘concept malls’ entirely dedicated to jewellery needs. MBS (Musaddilal Bhagwat Swaroop Jewellers) at Basheerbagh is an exclusive mall developed by Musaddilal Group while ‘Mahalakshmi’s Gems’ at Abids is being projected as a merchandised jewellery mart with 35 independent outlets of various companies under one roof.
Gold retailing is turning a new leaf in Hyderabad. The growing middle class base with its extra spending power has surely galvanised the gold retailing. Apparently, the trade is not overtly perturbed by the rising gold prices or the cautious approach of buyers this season.
MBS Mall
Musaddilal Jewellers, who for six generations, have been involved in the business of gold and diamonds jewellery as well as other precious and semi precious stones jewellery, launched the four-storeyed jewellery mall, occupying an area of over 30,000 sq.ft. The mall has been set up by the jeweller at an investment of Rs. 250 crore.
According to MBS CEO Sukesh Gupta, the idea of providing the customer with every piece of jewellery under one roof led to the establishment of the mall. “We would like to change the way gold is retailed and are coming up with seven showrooms in the State by next March and by the end of 2008, we would have another 28 such showrooms across the country,” says Sukesh Gupta.
The Musaddilal Group is planning to invest Rs. 1,500 crore to set up its chain of premium jewellery outlets in Nagpur, Vijayawada and even Visakhapatnam. “We have a huge middle and upper middle class patronage because we are century-old in here,” Mr. Gupta said.
Each level of the four-storeyed complex houses different kinds of jewellery under one brand. For instance, while the zero level has a splendid display of pure gold jewellery, the first level boosts of gems, rubies, emeralds, polki and kundan. The second level unfolds the brilliance of diamonds, which are also interlaced with pearls, sapphires and emeralds. Taking the fashion one step further at this level is the couture line crafted by some of the sought after designers like Maheep Kapoor and Sangita Jhaveri. And hey, an exclusive metro-sexual men’s jewellery line also awaits men at this level. The last level is dedicated to pearls, apt for occasions like weddings. Silverware at this floor adds a classic touch to the whole collection.
Mahalakshmi’s Gems
On the other end of the spectrum is the ‘Mahalakshmi’s Gems’, which is a fully furnished jewellery mall strategically located at Abids. Jewellers from all over India are expected to set up their retail outlets at this mall, which also has a Wi-Fi facility.
This mall provides ready-made set up for the business. Free of cost quality testing and weighing facilities are added attractions.
“We are planning to open 25 such malls in the country in the next five years. Our projects are under way at cities like Chennai, Kolkata and Ahmedabad,” points out Jitendra Kumar Sharma of Mahalakhmi’s Gems.
SOURCES:
The Hindu
NewIndPres
Topics: Malls, Consumer Market, Business News |
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