India, June 2 -- Mini Diamonds (India) Limited has announced plans to expand its lab-grown diamond jewellery business through its wholly owned subsidiary Namra Jewels Private Limited by adopting a Franchise-Owned, Franchise-Operated (FOFO) model.
Under the proposed expansion strategy, Namra Jewels intends to offer franchise opportunities with a franchise fee of Rs 5 lakh. The estimated investment requirement is expected to be below Rs 2 crore in Tier-1 cities and under Rs 1.5 crore in Tier-2 cities, depending on factors such as location, store size, interiors, and inventory requirements.
The company believes the growing acceptance of lab-grown diamond jewellery among younger consumers is creating a significant market opportunity. By lever...