Vinsmera eyes $232m investment in UAE jewellery retail chain
DUBAI, 24 days ago
Vinsmera Group, a jewellery enterprise based in India, has announced plans to invest around Rs20 billion ($232 million) over the next two years to establish a premium retail chain and manufacturing units in the UAE.
The Group, which is promoted by siblings Dinesh, Anil, Manoj and Krishnan Kambrath, plans to open flagship showrooms, each in Abu Dhabi and Dubai, and one in neighbouring Sharjah alongside development of a manufacturing unit within the first phase of its expansion plan.
The UAE operations will focus on catering to retail and wholesale markets, leveraging the country’s status as a global jewellery hub, said the Indian group.
Spanning 50,000 sq ft, the present production facility in Sharjah is one of the largest in the region, that implements eco-friendly practices such as hydrogen fuel usage, reinforcing Vinsmera’s commitment to environmental sustainability.
"Vinsmera is set to bring a new era of excellence in jewellery retail and manufacturing, blending heritage with modern innovation. UAE, with its dynamic marketplace and discerning clientele, is a key pillar in our global expansion strategy," remarked one of its co-founders Dinesh.
"With over three decades of expertise in jewellery design, manufacturing, wholesale and export, our Group serves top jewellery brands across India, the Gulf, the US, and the UK," he stated.
Its wholesale units in Dubai, Kannur, and Thrissur supply finely crafted jewellery to global markets, reinforcing the Group’s leadership in the industry.
The UAE expansion reflects Vinsmera’s dedication to offering world-class designs, exceptional quality, and sustainable practices, setting new benchmarks in the jewellery sector, it stated.
According to him, the investment is expected to create approximately 2,500 jobs across its retail and manufacturing operations, with strong focus on empowering women in jewellery sector.
Currently, the Group employs over 1,000 individuals, with women comprising a significant part of the workforce, he added.
Malayalam superstar Mohanlal has been roped in as the brand ambassador for Vinsmera, in a major boost to the brand’s identity in the Middle East and beyond.
On its India plan, the Group said its first Vinsmera retail store will open at Kozhikode in the south Indian state of Kerala by the month end, featuring a 10,000-sq-ft showroom, followed by a new showroom in Kochi.
This expansion aligns with Group’s vision to redefine jewellery retail with innovation, sustainability, and world-class craftsmanship, it added.-TradeArabia News Service
