Tata’s jewellery brand Zoya aims Rs 500 cr revenue in next 5 years

The brand recently opened its 3,300 sq.ft. store at Vittal Mallya Road in Bengaluru, taking the total outlet count to 4. According to Chawla, the company had plans to expand the stores to other top cities like Chennai, Kolkata, Hyderabad, and Ahmedabad, but will now assess the situation and consumer response before going ahead.

New Delhi: Tata’s diamond jewellery brand, Zoya, aims to generate a business of Rs 500 crore in the next 5 years, as it looks to increase its presence in the top metros of the country, said a top executive of the company.

“Zoya did a business of about Rs 60 crores last year and we hope to grow it to Rs 500 crore brand in the next 5-6 years,” said Ajoy Chawla, CEO of Jewellery Division at Titan Company. According to Chawla, the brand is anticipating that its customers will be back in the next six months and business will be as usual.

The brand recently opened its 3,300 sq.ft. store at Vittal Mallya Road in Bengaluru, taking the total outlet count to 4. According to Chawla, the company had plans to expand the stores to other top cities like Chennai, Kolkata, Hyderabad, and Ahmedabad, but will now assess the situation and consumer response before going ahead. We will take a calibrated approach to expansion, Chawla said.

“This is the year when we will not jump in to open many more stores in one go. We will go store by store and city by city. We have to give ourselves time and wait for things to settle down before we move on to our strategic journey.”

The brand already has one store in Delhi and two stores in Mumbai.

As the country is reeling under the lockdown for the last couple of months, the brand was not able to do any business during that time. But according to Chawla, the brand was in constant touch with its customers and has also strategise the future plans for the business going ahead.

“Nobody predicted Covid-19. The work on the Bengaluru store began last December. We finalised the property in August last year. We were to launch this store in March but instead of opening, we had to close stores because of the lockdown. And finally, we have opened this store in May,” said Chawla on being asked the reason to open a luxury store during the current situation.

The brand claims to have 80 safety checkpoints in place which includes an hourly cleaning of the boutique as well as sanitization after each customer visit to ensure that everyone who walks into the boutique can do so with comfort and ease.

Courtesy: The Econimic Times