While global markets face recession, India is riding the wave of growth, with retailers aggressively expanding their operations
There’s a constant buzz about Turner Road, the upscale thoroughfare that passes through the heart of Mumbai’s trendy Bandra West neighborhood. Bandra has gained a reputation for attracting the city’s up-and-coming, be they tech execs, property moguls or Bollywood elites. They live, eat, drink, and socialize there. Turner Road is where they buy fine jewelry.
The street is lined with the full gamut of local jewelers, ranging from well-established family businesses to the more imposing chain stores.
“We were very lucky to get this location,” says Neil Sonawala, managing director of Zen Diamond India, a recent addition to Turner Road. “We grabbed it as soon as the space became available.” Flanked between the De Beers-owned Forevermark and Tanishq, India’s largest jewelry chain, Zen Diamond opened in early August, marking the Turkish brand’s first foray into India. The group’s timing was deliberate as India’s “growth is expected to accelerate in the next few decades,” stresses Emil Guzelis, its founder and chairman.
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