Orra to have 10 stores in Hyderabad by 2025
Hyderabad: Diamond jewellery brand Orra, which has three company-owned and operated stores in Hyderabad, plans to set up one more by end of this month and six new stores by 2025, taking the total number of stores in the city to 10. Orra pan-India has 47 company-owned and operated stores across 25 cities and plans […]
Hyderabad: Diamond jewellery brand Orra, which has three company-owned and operated stores in Hyderabad, plans to set up one more by end of this month and six new stores by 2025, taking the total number of stores in the city to 10.
Orra pan-India has 47 company-owned and operated stores across 25 cities and plans to take it to 58 stores by December 2021. Once the company touches the 100-store mark by 2025, it will start tapping the franchisee route.
The company typically spends Rs 15 crore on each store pan-India on an average. The company will test foraying into tier-3 and tier-4 markets from next year onwards and till then strengthen presence in all the major metros.
Dipu Mehta, MD, Orra, told Telangana Today, “In Hyderabad, we currently have stores in Begumpet, Jubilee Hills and Sarath City Capital Mall and we will be opening our fourth store in Forum Mall by September-end. We want to have 10 stores in the city by 2025. The city has a high affinity for diamonds. More than 80 per cent of our business is from diamonds. Bridal segment remains a key contributor for our business in the city.”
The company is focusing on omni-channel model, strengthening both offline and online base. Orra is building a new app towards 2021-end that will allow customers to try jewellery with video-assisted tools and make follow-up purchase decisions.
Mehta further added, “Our online footprint has grown 500 per cent in the last couple of years and the company will in future use data analytics and artificial intelligence to derive consumer insights and preferences in future.”
Orra is also looking at acquisition opportunities primarily in India before it starts exploring overseas markets. The company is aiming to register a 40 per cent growth in its business in FY2022, driven by the growing demand from millennials and other user segments.
When asked about the efforts to bring new jewellery designs, Mehta said, “We have five design centres across the world. The artisans work on innovative designs across our facilities based in Thailand, Italy, Germany, and consolidate them at Mumbai. We are also working closely with leading jewellery designers.”
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