SMALL jewellers, traders of any commodity, or investors can now display the PNG sign on their outlet and sell ornaments designed by the renowned brand, anywhere in Maharashtra.
Unveiling the franchise model of PNG Jewellers, Saurabh Gadgil, chairman, and managing director said,
“We are always working towards expanding PNG Jewellers’ footprint and making it a preferred destination for jewellery shopping, not just regionally and nationally but also globally. It gives me great pleasure to share our vision of expanding our business and we look forward to creating progressive entrepreneurs who will be serving many more happy customers through a successful franchise model.”
In a bid to take its legacy to even greater heights, PNG Jewellers announced its plans to initiate a franchise model for the first time. Named as IFO (Initial Franchise Offering), the programme aims to intensively increase the penetration of the jewellery brand in both, Tier I and Tier II cities in Maharashtra within the next two years.
This announcement marks a huge milestone for PNG Jewellers as it will conduct its biggest expansion yet in a relatively short span of time. From establishing itself as a single store, family-owned and operated flagship store in Pune about 60 years ago, to becoming a private limited company with outlets across Maharashtra, Goa, Madhya Pradesh, US and UAE, PNG Jewellers has come a long way. The introduction of a franchise model is the next exciting phase in the growth story of the brand and one that is expected to have a lasting positive impact on its business.
Over this period of two years, PNG Jewellers is scheduled to open about 15 new stores via the franchise model. Initially, the focus will mainly be in Maharashtra, especially in areas around Pune such as Talegaon, Pirangut, Undri, and Chakan; areas around Mumbai, such as Navi Mumbai, Mira Road-Bhayandar and Ghodbunder road Thane; Goregaon, Akola; Daund; Barshi; Gondia; Yavatmal; and Malegaon. There are plans for further expansions in the Konkan region of Maharashtra as well as international markets such as the Middle East, UK, USA and the Far East.
Those interested in entering into a franchise association with PNG Jewellers will be able to pick from two models — FOCO and FOFO — thus opening the scope to those who already have business experience as well as those looking to start a business venture.
This initiative is expected to prove to be mutually beneficial to both the parties. Small business owners will have the chance to associate themselves with the esteemed legacy of PNG Jewellers, which has been built on the cornerstones of goodwill, trust, and credibility.
This will give their business an added boost. PNG Jewellers will also provide decades’ worth of valuable expertise and marketing support, innovative designs that it is known for and merchandising ensuring the franchise is equipped with the best possible tools for success. The franchisee’s on-ground network and knowledge of the local market will help ensure the prosperity of these new stores.
All stores will have the same iconic modern look and feel of the heritage brand and one can be assured that they will uphold the high standards that PNG Jewellers stands for. As with existing PNG Jewellers stores, a variety of inventory across the diamond, gold, and silver jewellery will be available at these franchises.