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Panna Diamond World of West Bengal plans to shore up retail presence with 10-12 stores

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The jeweller also plans to launch new initiatives for platinum-based ornaments and coloured-stone jewellery, as well as a jewellery line for men

Panna Diamond World, leading diamond jewellers from West Bengal, recently announced a robust expansion plan of launching 10-12 retail stores globally in the next 2-3 years. It had opened four jewellery showrooms in West Bengal in just six years, the first one in February 2008, inaugurated by actor Sharmila Tagore. Following the company’s commercial success through retail sales, the current expansion plan aims to further Panna Diamond World’s market share.

Behind this impressive growth trajectory in retail, lies not just Panna Diamond World’s extensive experience as a 25-year-old exporter but also its understanding of the market trends and its pocket-friendly collections, starting just at Rs 3,000. Moreover, in keeping with its increased presence in the market, the venture has set the target of garnering between Rs 300-400 crore in exports, and between Rs 75-100 crore in retail in the next three years.

Further, in terms of expansion, the company, owing to the stellar performance of the brand in recent years, is poised to widen its horizons with new initiatives such as a jewellery line for men, platinum-based jewellery, and colour stone jewellery. Since the company was founded in 2007 by Pintu Agarwala and Rashmi Agarwala, Panna Diamond World has witnessed 100x growth in the workforce, going from an ambitious two-member business to a solid 100-employee company.

About the expansion plan, Pintu Agarwala, Director, Panna Diamond World said, “We are thrilled to announce that Panna Diamond World which has become a household name in just six years into the competitive retail jewellery industry, will soon have a presence globally. This expansion plan speaks not just for the success of our in-house craftsmanship that has won the hearts of several people but also about our continuous commitment to reaching more and more people, offering them best-in-line jewellery at a reasonable cost.” Outlining the vision of the brand, Agarwala continued, “When we began our journey in 2007, our aim was to make diamonds an affordable option for a wide range of customers. However, since the beginning, we never compromised on quality and aesthetics and that has held us in good stead.” The brand is planning to continue building stores that cater to the varied needs of the consumer around jewellery.

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Attesting further to the consumer-centric model of Panna Diamond World stands its affordable bridal collections that come within Rs 7 lakh. The range includes exquisite, intricate designs of the bridal collection as well as the signature, easy-to-carry lifestyle pieces. Also, recently the diamond enterprise, known for its trendy lightweight diamond pieces, grabbed headlines with its polki jewellery collection, named the Virasat Collection, which was a hit among its customer base. The brand ensures free replacement in case of a diamond falls off over a sustained period of use. Further, it has a unique exchange policy where no deduction is made on the price of the diamond.

Acknowledging the importance of convenience for millennials, who are constantly on the move, the brand enables exploration of their extensive collection from the comfort and convenience of their own homes through their social media profiles and website.

Courtesy: Hindustan Times

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