Designer Nirav Modi, whose necklace under the name Golconda Lotus was sold at Christie's auction for 160 million rupees, plans to open a network of retail stores in India and abroad. The network will have at least 20 outlets and will offer jewelry buyers at more affordable prices.
The Nirv Modi brand, owned by Firestar Diamonds and last year providing sales revenue of $ 250 million (Rs 16 billion), has a significant number of private clients among the richest people. As stated in the statement of Modi: "The company is aimed at opening 5-10 stores in India and the same shops in several major global metropolitan areas - New York, Hong Kong, Dubai and London. There is a huge demand for our jewelry products in international markets, so it's decided to open exclusive stores abroad. "
The company already has a premium lounge in Mumbai, which serves rich customers. Modi says the next outlet will be opened in Delhi in the next few months, and further exclusive boutiques will be opened in Mumbai, Bangalore and Chennai.