Rajesh Exports Ltd, a leader in jewellery, is constituting two fully owned subsidiaries to handle its retail and property related businesses.
It has decided to transfer all of its retail jewellery business to the new retail subsidiary, 24K Retail Ltd, which would be entrusted with the task of expanding the retail business by leveraging the company’s exceptional backward integration strengths.
24K will divided jewellery retail business under three brands, namely, Laabh Jewellers, Shubh Jewellers and Oyzterbay. Oyzterbay stores will be in association with Fossil Inc.
In the first phase of implementation, the company intend to have 30 Laabh stores, 100 Shubh stores and 50 Oyzterbay stores. The company has already launched 24 Laabh showrooms across the country.