Gargi Jewellery plans Rs. 429.98 mn preferential equity issue on retail expansion across formats 

Currently operational in less than ten states in India, Gargi intends to expand its business across various regions in India 

Pune: Gargi Jewellery by P N Gadgil & Sons has announced that its board of directors has approved a plan to raise approximately Rs. 429.98 million through preferential issue of equity shares. The funds raised will source additional inventory, expand the chain of brand stores, SIS stores, and FOCO basis stores, and conduct a nationwide marketing campaign, a press release said.  

Aditya Modak, co-founder of Gargi by PNGS, said, “We aim to expand our existing business and drive future growth by establishing new brand stores, a comprehensive pan-India marketing campaign, and significant investment in inventory.” 

“The proceeds from this preferential issue will primarily support our aggressive growth plans,” he added. 

Currently operational in less than ten states in India, Gargi intends to expand its business across various regions in India. This expansion will enable the company to tap into new customer bases and generate additional revenue. The marketing activities will include social media campaigns, influencer partnerships, paid integrations, blog posts, video marketing, webinars, podcasts, email marketing, search engine marketing (SEM), print advertising, television advertising and radio ads, and sponsorships and partnerships.  

Gargi plans to capitalize on the growing fashion jewellery market, driven by an increasing number of working women and higher literacy rates. Gargi Jewellery sees a significant opportunity in catering to modern consumers — their evolving tastes and preferences by expanding its brand stores. The funds raised through issue of equity shares is expected to boost sales, enhance direct customer engagement, improve market penetration, and provide local market insights for better customer service, according to the press release. 

The jewellery company’s future plans include launching new jewellery collections, revamping its franchisee business, and optimizing costs. 

Retail Jeweller India News