Quantitative Figures
- Franchise fee: ₹5 lakhs (nominal)
- Estimated investment requirement: Under ₹2 crore for Tier 1 cities
- Estimated investment requirement: Below ₹1.5 crore for Tier 2 cities
- Investment variability factors: Location, store size, interiors, inventory planning, and other commercial factors
Strategic Rationale and Expansion Details
The decision follows detailed evaluation of growing interest from new age consumers in lab grown diamond jewellery. The expansion aims to:
- Reach wider consumer base across India
- Build trust, visibility and long-term brand value
- Strengthen retail presence across key cities
- Create wider offline network for modern, affordable and certified lab grown diamond jewellery
- Support higher sales visibility, better brand recall and improved market penetration
Management Commentary
Upendra N Shah, Managing Director (DIN: 00748451) commented: "Lab grown diamond jewellery is seeing strong interest from a new generation of consumers who value design, affordability and trust. Through Namra Jewels, we aim to build a retail network that gives customers access to quality jewellery at attractive price points. The FOFO franchise model allows us to expand in an asset light manner while creating a meaningful business opportunity for franchise partners across Tier 1 and Tier 2 cities."
Company Background
Mini Diamonds (India) Limited is a public limited company listed on BSE Limited, established in 1987. The company operates in diamond import and export business with manufacturing facilities in Mumbai equipped with cutting-edge technology including Sarin Technology, Auto Bruiting Machines, Semi-Automatic Polishing Mills, and Sawing Machines. The company manufactures, markets and sells lab-grown diamond jewellery through B2B and B2C channels to Indian and international markets.