news eyes Rs 100 crore revenues by 2012
27 Dec 2011

Gems and jewellery ecommerce portal has said that it expects to sell items worth Rs 100 crore in the next 12 to 15 months. The portal has also partnered with companies like Mehrasons, OnlyGems, Jetha Bhai Zaveri and others to sell their jewellery. The company is in the process of partnering with 500 more brands to sell and finance their products.

"The distribution system is well-developed in the country now. Each item that we sell is of a big amount. We expect to sell around Rs 100 crore worth of gems and jewellery items from our website," Gaurav S Issar, Co-Founder and CEO, JewelsNext has said. According to Issar, from January 2012, the portal will give customers the option to buy gems and jewellery using HDFC or ICICI Bank credit cards without any interest.

The portal, at present, gets 25 to 30 transactions daily. “During the festive season it went up to 52 on a day. Recently, we sold jewellery items worth Rs 1,07,000 to a customer in Jaipur," Issar said.