JV to make, market 'Shubh Muthoot' gold coins. | |
| Rajesh Exports, the Bangalore-based gold jewellery manufacturer, has tied up with the Muthoot Pappachan Group to float a joint venture company for retailing its products and services across cities in south India. |
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| The 68-year-old Muthoot Pappachan Group, a non-banking finance company based in Kerala, has 450 outlets with operations spread across five states "" Kerala, Karnataka, Tamil Nadu, Maharashtra and Andhra Pradesh. |
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| The joint venture company will manufacture 'Shubh Muthoot' pure gold coins of 1,2,4,8 and 20 grammes. 'Shubh' is a brand owned by Rajesh Exports. The gold coins are designed by the Rajesh Exports' R&D team. |
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| With this agreement the company will be able to retail gold coins to a wide segment of population across the four states of South India and Maharashtra. |
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| "The joint venture is expected to increase Rajesh Exports' retail presence in South India ahead of the launch of 'Shubh Jewelers' (wholesale) venture," said Rajesh Mehta, chairman, Rajesh Exports. |
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| "We are accelerating the pace of implementing our retail plans. We have already set up the national retail network of 30 Laabh stores across 23 cities in 4 months," he added. |
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