A household name for designs that are in vogue, Savya Jewels is a forerunner in manufacturing international designs in India. It has now adopted the franchise model for pan-India expansion.
Trendy, fancy, pure and pocket friendly – the aspirations of young Indians who invest in gold are aplenty. And this is something that Noida-based Savya Jewels, which has been in business for over two decades, understands only too well. The brand is a household name for unique, expansive product offerings. Established in 1999, Savya Jewels is among the first in the country to launch a state of-art jewellery manufacturing facility that can manufacture the most modern jewellery designs in India without being dependent on overseas partners.
UNIQUE FRANCHISE MODEL
Following the phenomenal response to its store in Noida, Savya Jewels has set up a franchise store in Meerut. It now plans to expand its base across Tier I and II cities. “Irrespective of where people live, a metro or Tier II city, Savya Jewels is a brand for the new generation of Indians that think alike and dream alike,” Gupta says. According to him, Savya Jewels has a unique franchise model. While a franchisee is free to contribute, the onus is on the brand to make the store a success.
“We would like our franchisee to invest in real estate via rent or ownership route and be a partner in our success. From selection and management of staff to provisioning of ERP software and management of inventory, we will have our dedicated teams that will take care of every aspect,” he says. Further, the brand will also support the franchisee with branding and entire backend activities of the franchise store. The brand ensures an average return on investment of 25% which may go up to 40% in cases like ‘shop-inshop’ kind of concept.
VISION FOR THE FUTURE
Speaking about the company’s ambitious expansion plans, Gupta highlights that Tier I, II and III cities hold potential on account of an increasing number of aspirational buyers and hence the brand is enthusiastic about venturing into these geographies to unlock the opportunities that these regions have to offer. He maintains that consistency is the hallmark of Savya Jewels and the brand wants to offer the same shopping experience across all its stores. “The customer must get derive full satisfaction from any of our stores. We are looking for partners who would like to embark upon this journey with the same set of values and enthusiasm that we have,” Gupta says.
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