Tribhovandas Bhimji Zaveri Ltd. (TBZ) expanded its operations into eastern India by opening two stores in Kolkata. TBZ is maintaining the momentum of its aggressive retail expansion across key marketplaces, according to Shrikant Zaveri, the chairman of TBZ, Rapaport reported.
“We see complete synergy between the city of Kolkata, known for its association with arts and culture, and TBZ, renowned for its craftsmanship and creativity in the art and science of jewelry design. And now TBZ will bring in the best of western India jewelry designs to eastern India," Zaveri said.
The jewelry retailer opened one showroom at 5 Camac Street in south-central Kolkata and another at Kakurgachi in northeastern Kolkata. The stores showcase a range of contemporary and modern women's and men's jewelry collections.
In the past six months, TBZ opened three showrooms in the cities of Pune, Mumbai, and Vadodara. The company now has 18 showrooms in 11 cities across India.
In April, TBZ raised approximately $36 million (INR 2 billion) through an IPO to fund its expansion and for incremental working capital requirements, among other things. The company plans to open 43 showrooms by the end of fiscal year 2015.
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