Damas plans pan Indian operations

DAMAS has charted out massive plans for the current financial year.
“Within the short period of starting operations in India, we have already opened eight outlets and plan to have more than twenty one operational showrooms by the end of the current financial year,” informs Anaggh Desai, CEO of Damas.

In India Damas intends to have about 100+ outlets operational by December 2008 and garner a substantial market share by then. It includes a large array of its in-house brands and the latest jewellery designs and watches from the international luxury brands like Roberto, Coin, scavia, Vacheron Constantin and Chronoswiss.

Mr Desai further elaborates, “India is poised for a massive growth in retail segment. And within the segment the gems and jewellery market is a key emerging area with tremendous potential. The domestic demand for retail jewellery (branded and non-branded) was estimated at Rs 490 billion in 2005, with diamond jewellery comprising of Rs 80 billion. According to a stuffy by consulting firm McKinsey, the branded jewellery market in India alone would touch Rs 100 billion mark.”