“With this launch the company has launched it’s second phase of retail expansion. The company in the second phase of retail expansion has finalized plans to launch series of retail showrooms in the four southern states of India”, said the company.
It had completed the first phase of retail launch by launching 80 Shubh Jewellers showrooms.
“We had completed the first phase of 80 showrooms after which we had focused on the acquisition of Switzerland based gold refinery Valcambi, we have successfully completed the acquisition and integration of Valcambi in our group. The Company has achieved impressive revenue and now the company will be focusing on margin expansion for which Retail would be the key area for the company “, said Rajesh Mehta, Chairman, Rajesh Exports Ltd.
With the recent acquisition of Valcambi, largest gold refinery at Switzerland, Rajesh Exports has built up a total capacity to refine 2400 tons of precious metals per annum.
Valcambi is an accredited refinery, the gold bars produced at Valcambi are accepted as good delivery bars across all the metal exchanges of the world.
“We are confident that over a period of the next one year, we would be able to substantially increase our retail business by launching new retail stores which would result in increased profit margins for the company as retail is a high margin business”, he said.
Rajesh Exports Ltd is a Zero debt gold jewellery exporter with an annual sales of Rs 165200 Crores (approx. $ 24 bln) on consolidated basis for FY16.
The Company processes 35% of the gold produced in the world, it said.
Rajesh Exports has a total installed capacity to manufacture 400 tons of world class gold products per annum.
The company exports its products to various countries around the world and also supplies it’s products in wholesale to jewellery showrooms across India.