Wednesday, 25 July 2018

PNG Jewellers reveals new fanchise model


25/7/2018

PUNE: In a bid to take its legacy to even greater heights, PNG Jewellers announced its plans to initiate a franchise model for the first time at a recent press conference. Named IFO-Initial Franchise offering, the programme aims to intensively increase the penetration of the jewellery brand in both Tier I and Tier II cities in Maharashtra within the next two years. 

This announcement marks a huge milestone for PNG Jewellers as it will conduct its biggest expansion yet in a relatively short span of time. From establishing itself a single store family owned and operated flagship store in Pune about 60 years ago to becoming a private limited company with outlets across Maharashtra, Goa, Madhya Pradesh, US and UAE, PNG Jewellers has come a long way.

Over this period of two years, PNG Jewellers is scheduled to open about 15 new stores via the franchise model. Initially, the focus will mainly be on Maharashtra, especially areas around Pune such as Talegaon, Pirangut, Undri and Chakan; areas around Mumbai, such as Navi Mumbai, Mira Road-Bhayandar and Ghodbunder road Thane; Goregaon, Akola; Daund; Barshi; Gondia; Yavatmal; and Malegaon. There are plans for further expansions in the Konkan region of Maharashtra as well as international markets such as the Middle East, UK, USA and the Far East.

Those interested in entering into a franchise association with PNG Jewellers will be able to pick from two models - FOCO and FOFO - opening the scope to those who already have business experience as well as those looking to start a business venture. 

“We are always working towards expanding PNG Jewellers’ footprint and making it a preferred destination for jewellery shopping, not just regionally and nationally but also globally. It gives me great pleasure to share our vision of expanding our business and we look forward to creating progressive entrepreneurs who will be serving many more happy customers through a successful franchise model,” expressed Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers during the announcement.

All stores will have the same iconic modern look and feel of the heritage brand and one can be assured that they will uphold the high standards that PNG Jewellers stands for. As with existing PNG Jewellers stores, a variety of inventory across diamond, gold and silver jewellery will be available at these franchises.

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