Upload
nikita-arora
View
220
Download
2
Embed Size (px)
Citation preview
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 1/20
MARKET OF BRANDEDJEWELLERY IN INDIA
Presented by:-Nikita Arora
GURU JAMHESHWARUNIVERSITY OFSCIENCE ANDTECHNOLOGY, HISSAR
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 2/20
Introduction In the late 1990s, the focus seemed to have shifted
from content to design in the indian jewellery market Branded players entered into the market:
Tanishq Gili Oyzterbay Carbon
Traditional jewellers also began to bring out lightweight jewellery
But the share of the branded jewellery in the total jewellery was still small in 2002, about Rs 10 billion of the Rs 400 billion per annum of the total jewellerymarket
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 3/20
Gold Jewellery Market in India The abolition of Gold Control Act in 1992,
allowed large export houses to import goldfreely
In 1993, gold and diamond mining wereopened up for private investors
In 1997, overseas bank and bullion supplierswere allowed to import gold into India
This allowed the entry of foreign players likeDeBeers, Tiffany and Cartiers into the Indianmarket
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 4/20
Majors Players in the MarketGILI
In 1994, GILI jewellery was established
as a distinct brand by Gitanjali jewels Offered a wide range of 18-carat plain
gold and diamond-studded jewellery
With sales of Rs 0.14 billion for the
year 2007-08, GILI had a 0.03 percentshare of the 400 billion jewellerymarket in India and a 1.4 percentshare in the branded jewellery market
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 5/20
Majors Players in the MarketTanishq
In 1995, Titan changed its name from µTitan WatchesLtd.¶ to µTitan Industries Ltd.¶
In the same year, it also started its jewellery division
under the TANISHQ brand TANISHQ began with 18-carat jewellery but later on
expanded to include 22 and 24-carat jewelleryornaments as well
In 1998, TANISHQ decided to set up its own chain of retail showrooms and by 2002, TANISHQ retailed its jewellery through 53 exclusive stores across 41 cities
TANISHQ had a 0.66 percent share of the total jewellerymarket in 2007-08 and a 27 percent share of thebranded jewellery market
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 6/20
Majors Players in the MarketCARBON
In 1996, within the Peakok fold a newbrand of 18-carat gold-based jewellery
called CARBON was launched In 2002-03 with sales of Rs 0.14 billion,
CARBON had a 0.03 percent share of the jewellery market and 1.4 percent share of the branded jewellery market
The brand is available in 23 citiescountrywide It started exporting in the year 2008
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 7/20
Majors Players in the MarketOYZTERBAY
It was founded bt Vasant Nangia and histeam in july 2000 and began operation in
march 2001 By nov 2002, company had 41 outlets
across the country
With the sales of Rs 0.17 billion 2000-01,
OYZTERBAY had a 0.04 percent share of the Rs 400 billion jewellery market and 1.7percent share of the branded jewellerymarket
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 8/20
Majors Players in the MarketTRENDSMITH
Mumbai based Tribhovandas Bhimji
Zaveri opened its new concept store µTRENDSMITH¶ in Mumbai in dec 2001
TRENDSMITH offered eight lines of exclusive designer jewellery
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 9/20
Market Share at a GlanceBRAND
TANISHQOYZTERBAY
GILI
CARBON
MARKET SHARE
(2004-05) in %
271.7
1.4
1.4
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 10/20
What led to the proliferation of the
Branded Jewellery Players?? The Indian market was witnessing an
accelerated shift from viewing jewellery asan investment to regarding it as
aesthetically appealing ornaments. Thefocus had shifted from content to design
The younger generation was looking attrendy, contemporary jewellery andavoiding heavy traditional jewellery
The Indian consumer was willing toexperiment with new designs
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 11/20
Strategy for Attracting CustomersTANISHQ
To increase its market share, TANISHQ formulated astrategy for luring people:
provide a point of differentiation
Project TANISHQ as a unimpeachable mark of trust
TANISHQ set up a seven member-in house designteam and also outsourced designs from freelancedesigners
TANISHQ decided to focus on quality control: it introduced caratmeters which showed the purity of
gold
It focused on small town markets In nov 2002, TANISHQ introduced a new collection
of jewellery called µ Lightweights¶
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 12/20
Strategy for Attracting CustomersCARBON
Always focused on moving jewellery fromvault to dressing table
Besides selling from stores, it sold itsproducts as gifts items over the internet
Like TANISHQ, it also laid emphasis on
design In 2002, CARBON launched its µSun Sign¶
collection based on the symbols of zodiac
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 13/20
Strategy for Attracting CustomersOYZTERBAY: Jewellery For The Living
The initial focus- to give a lifestyle value to jewelleryinstead of the traditional investment value
Emphasized on marketing and advertising strategiesto give the necessary thrust for growth
OYZTERBAY launched media campaigns
The new campaign focused on positioningOYZTERBAY as jewellery for office wear and eveningwear
They offered exclusive products to its clients byrefurbishing its collection every few months, keepingin mind international trends
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 14/20
Strategy for Attracting CustomersGILI
The company¶s products were madeavailable through a mail-order catalogue
All GILI products came with a guarantee of diamond and gold quality In 2000, GILI launched its µDiamond Heart
Collection¶ targeted at teenagers andpriced between Rs 500 and Rs 2500
Special packaging, catchy advertising andextensive press coverage contributed to thesuccess of the collection
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 15/20
Government Support In 2004-05, the government lowered
import duty on platinum from US $ 13.82per 10 gm to US$ 5.03 and exemptedrough coloured precious gems stones fromcustoms duty
Rough, semi-precious stones are alreadyexempt, a move aimed at furtherpromoting the exports of studded jewelleryand platinum jewellery
Import of gold of 8 carat and less allowed In May 2007, the government abolished
import duty on polished diamonds
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 16/20
Drivers and ChallengesDRIVERS
Mass appeal andgrowing income of households
Low cost andabundance of skilledlabour
Growing use of high-end technology
Changing consumersperceptions andpreferences
CHALLENGES
Rising gold prices
Competition fromunorganised players
Dependence on rawmaterial import
Emerging threat fromother countries
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 17/20
Market Trends The Indian jewellery market is the second largest in
the world, with a market size of $13 billion
India¶s share in the diamond sector is about 80% of the world market
Jewellery industry is the 3rd largest export orientedindustry in the country
It provides employment to 1.3 million people directlyor indirectly
India is the 3rd largest consumer of diamonds after
USA and Japan Branded jewellery sector is fastest growing sector at
40% annually
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 18/20
Market CharacteristicsMARKET:
Nascent market
There are very few players in the market who are mainly large
corporates Many international brands marketing their products in
partnership with Indian companies
Product Need to keep up with changing fashions and trends in
the industry Wide product range is essential to cater to the needs of
different customer segment
Indians inclined towards 22 carat jewellery
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 19/20
Market CharacteristicsREACH
Extensive reach required. Sales direct aswell as through large retail outlets
Need to ensure presence in major goldconsuming centres
PRICES
Branded jewellery associated with high
prices Right pricing is essential to attract and
retain customers
8/6/2019 Market of Branded Jewellery in India
http://slidepdf.com/reader/full/market-of-branded-jewellery-in-india 20/20
THANK YOU