"We were into wholesaling of jewelleries to major retailers in the US, Europe and India. Now we are entering the retail space and planning to open 20 stores in the next five years beginning with Mumbai and New Delhi," Kama Schachter Managing Director Colin Shah told reporters here.

The company, he said, will invest around Rs 50-70 crore for building brand, marketing and for opening retail store this year.

The retail jewellery business is expected to add 30-40 per cent to the overall sales of the company currently placed at Rs 500 crore.

Talking about exports, he said he expects a growth of 25-30 per cent in the next three years.

"Despite the global economic slowdown the demand is not affected and we expect a steady growth in exports at about 25-30 per cent," he said.

The company has four manufacturing units, three in Mumbai and one in China, with a total capacity of making Rs 1,000 crore worth of jewellery.