HYDERABAD: Fashion jewellery brand Voylla announced the appointment of Tapan Roychoudhury to head its offline retail channel and former finance director of Bata Zambia, Prashant Sharma, as head of finance. Roychoudhury was the former head of retail operations at Sahara Worldwide Ltd. This comes soon after the Jaipur-based jewellery retail brand raised Rs 98 crore (USD 15 million) from Peepul Capital in October.
The Omni-channel brand is looking to add 75 employees by end of 2016 across retail, marketing, technology, manufacturing and merchandising capabilities. "As we get aggressive on our expansion plans, we'll be strengthening our task force at all levels and have fresh and experienced talent join us," said Vishwas Shringi, founder and CEO of Voylla Fashions. The brand currently has an offline presence in Bangalore, Pune and Nagpur in the shop-in-shop format, and plans on expanding the network with the addition of 100 new outlets.
The fashion jewellery market in India is estimated to be Rs 15,000 crore and growing at a rate of 23% CAGR over the next two years. The segment which is largely unorganized has seen the emergence of investor-backed brands such as Pipa Bella, Youshine and others.