The Hindu : Business : Gitanjali to open Greggio stores

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Friday, May 25, 2007
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Gitanjali to open Greggio stores

Special Correspondent

NEW DELHI: Italian major of luxury brands of silverware, Greggio Argento, on Tuesday announced its entry into the Indian market.

It has entered into a marketing tie up with Gitanjali Lifestyle, a subsidiary of Gitanjali Gems, which has secured the sole distribution rights in line with its plans to bring global luxury brands to India.

Announcing the tie up, Gitanjali Lifestyle Chief Executive Officer (CEO) Gaurav Marya told media persons here that the arrangement marked its foray into the silverware segment and the company would set up two exclusive Greggio stores in Mumbai and New Delhi at prominent malls in the next three months before moving to other major cities.

To start with, he said the company would retail 500 of Greggio Argento's exclusive range of nearly 16,000 products.

The focus would be on tableware, cutlery, gift-items and other products that would sell in India.

Targeting a turnover of Rs. 7 crore this year, the company was confident of doubling its business next year, he added.

Angelica Koini, Manager (Export), Greggio Argento said here company's strength " lies in purity of the metal, exclusivity of the design and usage acceptability. The company is transforming annually 200 tonnes of silver into finished and semi finished products ranging from table sets to gift items, she elaborated.

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