Rajesh Exports J V with Muthoot Pappachan Group for retailing
23 Mar '07
2 min read
Rajesh Exports Ltd has announced that its Board of Directors meeting held on March 20, 2007, has approved an agreement with Muthoot Pappachan Group to retail its products in South-India.
Under the Tie up, the Company will manufacture "Shubh Muthoot" pure Gold coins of 1,2,4,8 and 20 Gms.
"Shubh" is a brand owned by the Company. The Gold coins have been exclusively designed by the R&D team of the Company.
Muthoot Pappachan Group is one of the largest Non Banking Finance Company (NBFC) in South India based at Kerala operating in five states of South India.
The Muthoot Pappachan Group has 450 outlets in the states of Kerala, Karnataka, Tamil Nadu, Maharashtra and Andhra Pradesh.
Joint venture will herald revolution in retailing of gold products in South India.
Group's backward-integration strengths and global-leadership position in Gold coins manufacturing will help the Company to offer large range of Gold coins embossed with "Shubh Muthoot" guarantee with different religious symbols.
The Joint venture has developed an advanced software solution to provide inventory of Gold coins and online gold prices across all outlets of "Muthoot," the first-of-its-kind facility offered to retail clients anywhere in world.
Muthoot Pappachan Group would also extend popular "Swarnavarsham" scheme to buyers of "Shubh Muthoot" Gold coins.
Joint venture will increase Company's retail presence in South India ahead of its ambitious "Shubh Jewelers" ventures launch.
marketing@alchempro.com
