Tribhovandas Bhimji Zaveri Ltd Share Price

History of Tribhovandas Bhimji Zaveri Ltd

Tribhovandas Bhimji Zaveri Ltd (TBZ), incorporated in July 2007, is a leading player in the organised jewellery markets with a legacy of dating back over 150 years. The Company was the first in India to promote the concept of lightweight precious jewellery, offer lifetime buyback on gold and diamond jewellery, provide certified solitaire diamonds and introduce 100% BIS hallmarked 22 karat gold jewellery. The company leverages its strong team of creative designers and skilled craftsmanship along with the modern research and computer-aided design to deliver products matching the latest trends and consumer preferences. As a retail organisation, the company is focussed on translating footfall into wallet share. As on 31 March 20-18, the company's operations are spread across 26 cities in 1 ...1 Indian states with a retail space with a retail space of 1,10,666 sq.ft. It has a total of 37 showrooms including 5 'franchise owned franchisee operated' stores. The company primarily sells gold jewellery and diamond-studded jewellery. It also sells other products, including platinum jewellery and jadau jewellery. The design and manufacture of their products is done either in-house or by third parties. All of their showrooms trade under the name of 'Tribhovandas Bhimji Zaveri'. The company offers their customers a wide variety of jewellery from across India in order to cater to regional tastes. They also offer jewellery from various parts of the world such as Italy, Turkey and Thailand. They also customize jewellery for individual needs. They offer their jewellery across different price points so as to maximize their potential customer base. The company has a state-of-the-art manufacturing facility in Kandivali, Mumbai. It has annual capacity of processing around 2,00,000 carats of diamond jewellery (double shift), refine 4,000 kg of gold and manufacture 4,500 kg of gold jewellery components. The testing facilities allow it to maintain stringent quality standards and attain high levels of productivity and operational efficiency. Earlier, the Company was carried on as a partnership between Tribhovandas Bhimji Zaveri and others and the first partnership deed was entered into on January 3, 1949. The business of the partnership was predominantly of goldsmiths and jewellers under the name of 'Tribhovandas Bhimji Zaveri'. In the year 2001, the company opened their second showroom at Hyderabad. They introduced independent administration of each showroom by professionals. In the year 2004, the company commenced retailing 100% pre-hallmarked jewellery. In July 24, 2007, the company was formally incorporated as a private limited company. The company opened seven additional stores in a period of 15 months starting from August 2007 to October 2008. Their retail footprint exceeded 42,000 sq. ft. across 13 cities. In the year 2009, the company got their new brand identity. In June 25, 2009, the company entered into a joint venture agreement with Parinda Bajaj and incorporated Konfiaance Jewellery Pvt Ltd on September 11, 2009. In the year 2010, they established corporate office at Mumbai. They reached out to national and global audience by the medium of television. In October 2010, the company acquired 99.98% equity share capital of Tribhovandas Bhimji Zaveri (Bombay) Ltd fpr integrating the manufacturing process of the business under the company and to ensure greater efficiency in the business operations. In December 2010, the company was converted into a public limited company and the name was changed to Tribhovandas Bhimji Zaveri Ltd. In the year 2011, the company expanded their manufacturing unit situated at Kandivali, Mumbai. In June 22, 2011, the joint venture agreement between the company and Parinda Bajaj was terminated and thus, Konfiaance Jewellery Pvt Ltd became a wholly owned subsidiary of the company. In April 2012, Tribhovandas Bhimji Zaveri came out with an initial public offer (IPO) of 16,666,667 equity shares by raising money from public. During the financial year ended 31 March 2014, the company opened two new showrooms in two cities and two states totaling the number of showrooms to twenty seven in twenty one cities and eight states. During the year under review, the company launched New Age Brides Wedding Collection'. The New Age Brides Wedding Collection' takes into account that a wedding consists of multiple functions - each with its own style and look. The overall impact is an awe-inspiring Bridal Collection for fulfilling the innate needs of Indian brides, who are constantly seeking to balance tradition with modernism; indulgence with elegance; and style with sophistication. During the financial year ended 31 March 2015, the company opened one new showroom in Jamshedpur (Jharkhand) totaling the number of showrooms to twenty eight in twenty two cities and ten states. During the year under review, the company announced TBZ franchising opportunity and invited franchisees to be part of jewellery retailing business. Through franchising opportunity, entrepreneurs can open TBZ - The Original stores across India and retail the brand's product including over 20,000 in-house designs. During the year under review, the company launched new solitaire collection which gives the customers wide variety of gifting solutions. The new solitaire collection offers an exquisite range of earrings, pendants, rings with perfect illusion of a solitaire which surely will provide most personal form of gifting to celebrate the special moments of life. The company also launched a new diamond wedding jewellery collection with an objective to increase share of diamond jewellery sales and reinforce the brand position as a wedding jewellers. The whole campaign was promoted through various mediums including television advertisement. During the financial year ended 31 March 2016, the company opened one new owned showroom at Bandra (West), Mumbai (Maharashtra) and opened its first franchise showroom at Dhanbad (Jharkhand), totaling the number of showrooms to thirty in twenty three cities and ten states. On 15 April 2015, the company shifted its Borivali showroom to new location which is bigger in size and is within 200 meters area of the old showroom. During the year under review, the company entered into retailing business on E-commerce platform through recognized service providers of the E-commerce platform, viz. Snapdeal, Flipkart and Amazon, which emerged as a potential retail platform with diverse customer base and which is widely accepted across India. During the year, the company launched an elegant new every day wear Diamond collection at a price point starting at Rs. 25,000. The company also launched/presented an exquisite new diamond collection for daily wear. This range caters to the need and mood of young, independent women of today at affordable price points. During the financial year ended 31 March 2017, the company opened two new franchisee showroom at Patna, (Bihar) and Ranchi, (Jharkhand) totaling the number of showrooms to thirty two in twenty five cities and eleven states. During the year, the company launched a 'Floral Collection', which are beautiful pieces of jewellery with the theme 'Let Blessings Bloom' were inspired by flowers. Customers could choose from some gorgeous pieces with intricate design work. The company also launched 'Rosabelle Collection' by taking inspiration from the pantone shade of the year; Rose Quartz. It was an amalgamation of being lightweight and minimalistic in design aesthetics to keep up with the styles of today. Rosabelle is one of the warmest and universally flattering metals for every occasion; a feminine pastel hue, which is subtle and classic. During the financial year ended 31 March 2018, the company opened four owned mall stores at Sea Woods Mall, Navi Mumbai, R-City Mall, Ghatkopar (West), Phoenix Mall, Lower Parel and Phoenix Mall, Pune and shut down one store at Aurangabad, Maharashtra. The company also opened two new franchisee stores at Jamnagar, Gujarat and Bhopal, Madhya Pradesh totaling the number of showrooms to thirty seven in twenty six cities and eleven states. The Company established new stores in Noida, Ludhiana, Bengaluru and Lucknow in 2019. It also launched a contemporary diamond jewellery collection for the millennial. It opened 5 new stores during the year, taking total store count to 42 in 30 cities across 14 states. Company launched the new meticulously designed Riwayat Bridal Jewellery collection in FY 2018-19. In 2020-21, it launched virtual stores. AABHA Bridal Jewellery, The New Bridal Jewellery collection launched post financial year 2021-22. The Company also launched the new gold collection 'Arya' across the network. Also launched Hues' in 2023.