The fashion jewellery chain’s new outlet will be in Vijayawada, Andhra Pradesh
New Delhi: Fashion jewellery retailer Gargi by P N Gadgil & Sons (PNGS) is set to open its 25th shop-in-shop (SiS) outlet at Shoppers Stop in Andhra Pradesh, the company told IndiaRetailing.
The retailer will be inaugurating its 24th SiS on Thursday in Cyberabad, Hyderabad. Following this, the 25th store will be opened on Sunday at Vijayawada in Andhra Pradesh. By the end of the weekend, all 25 SiS stores will be operational.
The retailer reported an increase in annual sales, up 76.07% to Rs 50.48 crore in FY 2024.
Gargi is known for fashion jewellery in brass and 92.5 sterling silver. It recently launched its diamond collection. The retailer is present in various Shop-in-Shop stores of Shoppers’ Stop located across Mumbai, Nashik and Bengaluru with five exclusive stores in Pune, and two franchise outlets, one in Nashik and another in Vashi (Mumbai).
The company was listed on the stock exchange in December 2022. It boasts a portfolio of over 15,000 stock-keeping units (SKUs) and experienced growth in its first year, with a six times increase in revenue. The company is present in 24 locations, including twelve metro cities across six states of India. The company has delivered over 1700% returns in the last 13 months to its investors.
