SHUBH Jewellers posts record retail sales during Festive season of Diwali and Christmas

SHUBH Jewellers the retail brand of Rajesh Exports Limited has posted record retail sales during the Diwali and Christmas festival season. During the two festive weeks of Diwali and Christmas the 75 retail stores of SHUBH Jewellers recorded sales in excess of Rs. 90 crores, wherein more than 330 kilos of jewellery was sold in a retail area of about 45000 sq ft. During the two weeks there was a footfall of 37616 customers and 28454 conversions were recorded with a sale of 67414 pieces of Jewellery.

SHUBH Jewellers on a consolidated basis has recorded an increase of 223% over sales during the same period last year and has recorded an increase of 215 % over the footfalls recorded during the same period last year. With this performance during the festive season SHUBH Jewellers has clearly emerged as the largest and the most preferred retail jeweller in Karnataka.

Commenting on the performance Chairman of Rajesh Exports Mr. Rajesh Mehta said "We have emerged as the fastest growing retail brand in the country, primarily due to our value for money and latest designs offering to the retail consumers, we are still in very early days of our retail expansion and our R&D team is working relentlessly to create better designs to be offered to the retail customers, I am confident that we would be able to capture a large percentage share of the retail jewellery business in Karnataka to start with and then expand pan India to extend our offerings to the retail customers across the country. All these years our strength has been our unique backward integration which our company has achieved, going forward we would be extending the advantage of this backward integration to the retail stores and strengthening our forward integration at par with our backward integration, thereby emerging as the world's only seamlessly integrated jewellery company, from mines to the consumers."

SHUBH is currently offering to the retail consumers 100% hallmarked jewellery of the finest designs at the lowest prices in the world, which has been made possible due to the incomparable backward integration strengths of REL. The response from the retail consumers of gold jewellery in Karnataka to SHUBH has been very encouraging, making SHUBH the most preferred and a household jeweller in Karnataka.

The Rajesh Exports stock was trading at Rs.140.75, up by Rs.0.65 or 0.46%. The stock hit an intraday high of Rs.141.30 and low of Rs.139.30.

The total traded quantity was 7944 compared to 2 week average of 40791.

Source : Equity Bulls

Keywords