Most of Indian Jewellery Market is still with unorganized old fashioned Jewellers. With rapid demand from the new generation urban Indians, Lifestyle Jewelery has captured 27% of the total amount spent by affluent Indians in Retail.
Gitanjali enjoys strong brand presence in its domestic jewelry retail operations. It sells its products under various brands like Asmi, Sangini, Gili, Nakshatra and D’damas. Gitanjali has recently launched its plain gold jewelry brand called “Maya Gold“, which it plans to retail via its existing distribution network. The company has also entered into various alliances with foreign luxury good companies to retail their brands through its lifestyle stores in India.
Each of Gitanjali’s brand address a separate market for women as follows,
- Asmi – Premium work wear collection
- Sangini – Entire product range including bridal jewelry
- Nakshatra – Entire product range including bridal jewelry
- Gili – Diamond jewelry at reasonable prices
- Vivvaha – Wedding jewelry
- Maya – Gold jewelry for wedding and other similar events
- D’damas – International quality designs combined with Indian values
- Hoop – Fashion Silver Jewelry
According to a recent survey, consumers have a strong brand recall for Gitanjali’s brand names. The survey below shows that, Tanhishq is the brand that strikes to most consumers. However, Gitanjali is not way behind. It is surprising that none of Rajesh Exports’ Shubh / Laabh retail brands being recalled by the consumers.
Gitanjali has a massive retailing channel – exclusive, franchisee, shop-in-shops.
- Gili has presence in 256 outlets of which 3 are exclusive stores
- Asmi is available at 104 outlets, 2 exclusive stores
- Nakshatra available with 374 retailers and 1 franchisee. More franchisees are being added
- D’damas sold through 380 retailers, 2 exclusive outlets, 3 shop-in-malls and 21 franchisees
The company is on a massive expansion plan as it is also building a Gems & Jewellery SEZ for exports. With newer consumers coming into the market with different tastes, it will be difficult for existing unorganized retailers to compete with specialists like Gitanjali.
Shubh and Laabh Jewellery Stores from Rajesh Exports.