HYDERABAD: Lalithaa Jewellery made its presence felt in Telangana on Sunday as it opened its 15th store, spread across 1,30,000 sq feet, at Somajiguda in the city. Inaugurated by IT minister KT Rama Rao, the four-storeyed building was filled with enthusiastic customers on Sunday morning. The rush continued till late in the evening.
All types of articles made of gold, silver, diamond and platinum in various designs are available at the store. An entire floor is dedicated to silver articles including some unique antique pieces and also painting from Tanjavur, embossed with gold and silver. Exclusive and exotic designs in gold and diamond are also available. A total of Rs 750 crore has been invested for this store alone and the objective is to make sure that every household can afford gold, said M Kiran Kumar, chairman and managing director.
“We have items starting from Rs 1,000 and going up to even Rs 3 crore. We do not have any exciting offers to attract customers. We observe the best practices in crafting pieces and ensure that making and wastage charges are under 7 per cent. This directly reflects on the price,” he added. The annual turnover of Lalithaa Jewellery at present is Rs 11,000 crore, said Kiran Kumar, adding that the target for year end is Rs 15,000 crore and by 2020, it is Rs 50,000 crore.
Customers can compare prices online and then make a purchase, he said. A new showroom will soon be opened at Kukatpally, followed by Vijayawada and Rajamundry in AP. Home minister Nayani Narasimha Reddy and AIMIM chief Asaduddin Owaisi were among the many guests who attended the inaugural.