Weak jewellery demand and rising operational expenses have hurt the company's profitability over the last four quarters.
Having faced poor customer demand and rising operational costs, Tribhovandas Bhimji Zaveri is now inviting franchisees to be part of its 150 year old family run business. So will the new business model add the much needed sparkle to TBZ's financial performance? Here's a report.
According to CEO Prem Hinduja, the plan of the company is to expand from 91,000 sq ft to 150,000 sq ft the first phase of its business expansion with both company-owned managed stores and franchisee stores."
Weak jewellery demand and rising operational expenses have hurt the company's profitability over the last four quarters.
TBZ says it may take a few more quarters for demand to pick up, but it is confident that customers will return to the stores in larger numbers as the economic mood lifts across the country.
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Expansion on TBZ's mind: Co foraying into franchising
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