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Thangamayil Jewellery to improve share of non-gold jewellery business from 8 to 12 %

Thangamayil Jewellery Limited (TMJL) is trying to improve the share of the high-margin non-gold jewellery business — silver as well as diamond studded jewellery. The company is opening exclusive silver jewellery stores as well as making provisions in existing stores to sell silver jewellery.

TMJL is also aiming to enhance the sale of diamond studded jewellery and increase the share of non-gold jewellery business from 8 percent in H1FY24 to about 12 percent over the medium term.

In order to tap the strong demand, TMJL will continue with healthy store expansion. Over the next three quarters, TMJL aims to open 8 new stores against the current store count of 56. In H2FY25, TMJL is planning to open a large store to enter the metro market of Chennai (capital city of Tamil Nadu).

Apart from opening new stores, TMJL plans to relaunch/upgrade existing stores which would result in increased throughput at the store level.

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