Vummidi Bangaru Jewellers Plans Major Expansion with ₹500 Crore Investment
VBJ plans multi-city expansion, eyes Rs 5,000cr topline
The Times Of IndiaImage: The Times Of India
Vummidi Bangaru Jewellers (VBJ), a 125-year-old jewellery retailer based in Chennai, India, is investing ₹500 crore to expand its operations domestically and internationally. The company aims to boost its revenue from ₹2,400 crore to ₹5,000 crore by FY28, with new showrooms planned in Tamil Nadu and California, USA.
- 01VBJ plans to invest ₹500 crore for expansion.
- 02Targeting ₹5,000 crore revenue by FY28.
- 03New showrooms to open in Tamil Nadu and California.
- 04Launch of a digital gold platform to attract younger consumers.
- 05Expansion of design team to enhance customer service.
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Vummidi Bangaru Jewellers (VBJ), a prominent jewellery retailer with a 125-year legacy, is set to expand its footprint with an investment of ₹500 crore. The company, currently generating over ₹2,400 crore in annual revenue, aims to reach ₹5,000 crore by FY28. VBJ plans to open new showrooms in Tamil Nadu, including Coimbatore, Tiruchirappalli, and additional locations in Chennai, while also venturing into the United States with a new showroom in Milpitas, California. This expansion is driven by increasing consumer interest in jewellery and the growth of India's luxury segment. To engage younger, tech-savvy consumers, VBJ will launch a digital gold platform that allows purchases based on value or weight at live rates. Furthermore, the company is expanding its design team from 25 to 40 members to cater to a broader customer base, including high-net-worth individuals.
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This expansion will create new job opportunities and enhance consumer access to luxury jewellery in Tamil Nadu and the Indian diaspora in the USA.
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