Tata’s luxury jewellery brand Zoya plans expansion in top cities

Zoya, a luxury jewellery brand from the House of Tatas, plans to expand its retail footprint across top 8-10 cities in the country. The company, which forayed into the South Indian market with the opening of its first store in Bengaluru last week, is now looking for marquee properties across metros for expansion.

“We opened first Zoya store in Mumbai a decade ago. So far, we have opened only three stories in Mumbai and Delhi. After a long gap, we opened our fourth store in Bengaluru’s Vittal Mallya Road. We are not in a hurry to expand. We look for premium addresses to open our store,” Ajoy Chawla, CEO of jewellery division at Titan Company told DH.

According to him, their stores are like art galleries that redefine luxury jewellery. Each of their jewellery is like a piece of art and their stores will have exclusive designers to help customers design jewellery as per their choice. Zoya mainly sells studded jewellery and sources diamonds from Surat, and select precious stones such as ruby, emerald and sapphire from Thailand.

Last week, Zoya opened its 3,300 sq. feet store at Vittal Mallya road in Bengaluru. The company is looking at opening stores in Hyderabad, Chennai, Kolkata, Ahmedabad, and Chandigarh among others.

The company already has two stores in Mumbai and one store in Delhi. “We are looking for premium real estate in upmarket areas of each of these cities. We hope to open our next store in Hyderabad,” Chawla said.

The price range for Zoya starts from Rs 1 lakh and goes to about Rs 60 lakh. "While you may find products in the same price range at other jewellers what sets Zoya apart is the craftsmanship, design and quality of stones. Our target customers are typically those who are neo rich, own an Audi, BMW or Mercedes cars, and buy jewellery to celebrate personal milestones like birthday, wedding anniversary. We have exclusive designers to help them in designing their jewellery,” Chawla said.

Having clocked a sales revenue of Rs 60 crore last year, Zoya hopes to grow manifold to touch Rs 500 crore revenue mark in the next five years. The growth is possible as the brand would be present in about 8-10 cities with about 50,000 customers over a five-year period, Chawla added.