02 March,2009 05:34 PM IST | | PTI
Real estate player, the Vardhman Group, has launched western India's first jewellery mall -- Jewel World, located at Zaveri Bazar in south Mumbai.
The jewellery mall will be the first high-end retail project to comprise specialty retailing catering to consumers looking to purchase jewellery.
Spread over 80,000 sq ft, the luxury destination is located in the heart of the jewellery precinct of Mumbai. Vardhman Group will be one of the pioneers of Whole Jewellery Retail (WJR) in the country.
The Group envisions the future from the perspective of the target audience. As Indians move up the value-chain, large-format retail combined with themed shopping environments will drive Indian retailing," Vardhman Group's Managing Director, Rajesh Vardhan, said.
"Our research team had 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," Vardhan said.
"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 Jewellery Retail (WJR) formats are expected to change the dynamics of the retailing industry in over the next five-years," Vardhan said.
Set in the jewellery hub of the country, Jewel World will provide consumers an unrivaled jewellery shopping experience. It will feature leading international and national brands under one roof.
Vardhman Groups Jewel World has already roped in prime tenants such as Pranda, Dia Jewels, Al-Kans, Emeralds, etc, he said. The Group is also looking to expand with more WJR formats in the country over the next two years starting with four more malls in Mumbai.
