Online retail portal for diamond jewellery Jewel Hub has planned to open up 100 touch and feel pop-up stores largely on franchisee basis over the next two years to allow customers get a hands on experience of the products before buying them online.
To begin with, JewelHub plans to open two stores in Mumbai and one each in Delhi and Chandigarh in the next two months.
“We may call it the reverse retail revolution. Unlike several brick and mortar retail outlets foraying into e-commerce, Jewel Hub after tasting success on its online portal has decided to operate such outlets based on the customer feedback received,” said Bhavin Mehta, Co-Founder and Managing Director, Jewel Hub.com.
Jewel Hub, that has set a revenue target of Rs 60-70 crore over the next 18-24 months, will also own and operate a few stores at select locations and would fund them through angel funds raised earlier.
“The proposed Pop-up stores will be set up in high footfall areas like shopping malls and will be mostly 3 way counters of 6 x 6 feet. Average estimated set-up cost per outlet would be approx Rs 4-5 lakhs per outlet and operating cost would be approx Rs 12-15 lakhs per annum,” said Gurmeet Singh, Co-Founder & Director, Jewel Hub.com.
These outlets will demystify the diamonds for the customers and provide them with the much needed touch and feel aspect currently missing in the high value jewellery e-tailing, Singh said.
The franchisees will enjoy a commission on the orders booked online from their respective outlets.