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Vaibhav Global plans to hire 500 employees in FY'15- 12-Jan-2014
New Delhi: Global jewellery e-retailer Vaibhav Global plans to hire 500 employees in India and abroad in 2014-15 as the company is poised to further expand its business in the US, the UK and Canada.
The 34-year-old Jaipur-based listed company sells fashion jewellery and lifestyle products in the US, the UK and Canada through its own TV shopping and e-commerce platforms. Its current staff strength is 3,422 in India and abroad.
"We are hiring quite a few to create platform to achieve next level of growth. We plan to add 500 employees taking total workforce to 3,900 in the 2014-15 fiscal," Vaibhav Global Limited (VGL) Chairman Sunil Agrawal said.
The company would hire both full-time and contractual workers for entry level to senior positions in India and its subsidiaries in the US, Europe, China and Thailand, he said.
The staff strength is being increased, Agrawal said because "we expect 20 per cent year-on-year growth in dollar terms in next 3-4 years with further expansion in the market reach of our products."
He also mentioned that maximum staff would be hired for its manufacturing operations in Jaipur and Mumbai in India because jewellery making is a capital intensive job.
VGL has been on an hiring spree and has recruited 1,300 employees so far this fiscal. It has also for the first time hired management graduates from IIMs.
The company manufactures precious and semi- precious fashion jewellery and accessories in India. Initially, VGL was supplying to the US-based TV home-shopping retailer QVC.
It was only seven years back that it started selling its products via its own TV shopping networks -- Liquidation Channel in USA and Canada, The Jewellery Channel in UK, and e-commerce platforms.
VGL sells products at an average price of USD 20 and its main consumers are discount seeking buyers. It currently has access to 96 million households abroad.
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