Shubh Jewellers, the retail brand of Rajesh Exports Ltd (REL), appears to have literally struck gold on the Akshaya Tritiya day raking in a business volume of more than Rs 52 crore.
The rising cost of gold does not seem to have diminished a bit the people’s appetite for gold as this year’s Akshaya Tritiya sales represent an 89 per cent jump over last year. Footfalls too have gone up by 78 per cent.
In a filing with the stock exchanges, Rajesh Exports said that the 80 retail stores of Shubh Jewellers recorded sales of more than 178 kg of jewellery in a single day valued at more than Rs 52 crore.
The conversion rate was a near 100 per cent as the stores recorded a footfall of 11,415 customers and 10,573 conversions were registered and they bought 19,668 pieces of jewellery.
Rajesh Exports has its gold jewellery manufacturing facility at White Field, Bangalore, with a capacity to process 250 tonnes of gold into jewellery.