Vummidi Bangaru Jewellers (VBJ) will open four showrooms in the U.S. and eight in T.N. within a span of two-four years, investing ₹1,800 crore, Managing Partner, Amarendran Vummidi said.
“We are a 123-old firm having two showrooms in Chennai city, Mr. Vummidi said. “For the first time, we are venturing into the U.S. by opening the maiden showroom in Dallas, Texas on October 19,” he said in an interaction.
Spread over 7,000 sq.ft, it would be the flagship store of VBJ in the U.S. The investment in the company-owned showroom is ₹150 crore. It would retail all the company-made gold, silver, platinum and diamond jewellery.
According to him, VBJ had decided to set up the showroom two years ago. But, it had to be deferred due to a 60% rise in the cost of real estate in the last 18 months.
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