A project report on consumer behaviour comparison between gili & tanishq on diamond products

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PROJECT REPORT OF
CONSUMER BEHAVIOUR
COMPARISON BETWEEN
GILI & TANISHQ ON
DIAMOND PRODUCTS
SUBMITTED TO
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Table of Content
GILI V/S TANISHQ
1. INTRODUCTION
2. HISTORY
3. MARKET SCENARIO
4. DIAMOND SPECIFICATIONS
5. COLLECTIONS
6. BRAND AMBASSADORS
7. OUTLETS
8. SERVICES
9. POINTS OF DIFFERENCE BETWEEN GILI & TANISHQ
10. EXPANSION
11. MARKET SHARE
12. MARKETING STRATEGIES, SALES & DISTRIBUTION
13. COMPETITION
14. ACHIVEMENTS
15. WHICH BRAND ACCORDING TO ME IS BEST & WHY?
16. IF I WERE IN POSITION TO ADVICE THE COMPANY TO INCREASE
SALES, WHAT I WOULD HAVE SUGGESTED?
17. SOURCE OF INFORMATION
18. QUESTIONNAIRE
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V/s
1. Introduction
About Gitanjali Group:
Gitanjali Gems Ltd (GGL), Established in 1966, is one of the earliest
diamond houses in India. GGL is the only company, which retails some of
the reputed brands like Gili, Nakshatra, Asmi and D'Damas thru its arms
and associates Gili was the first branded jewellery introduced in India.
Gitanjali Group, integrated diamond and jewellery manufacturer and
retailer. Gitanjali Gems Ltd today said the company has acquired the
Mumbai-based Gili India Ltd (GIL), strategically positioning itself as the
leading diamond studded jewellery-manufacturing company; today has
one of the largest fully integrated diamond and jewellery manufacturing
plants in the country. Gitanjali Group is engaged in the business of
sourcing rough diamonds, its manufacture, import and export of
diamonds, manufacture of plain and diamond studded gold and platinum
jewellery and its marketing and domestic retailing.
The very basis of their existence is to successfully develop, produce and
sell high-quality jewellery brands worldwide & helps the customers in
getting the maximum Value – For – Money in the process.
It has two modern diamond manufacturing facilities located at Borivali in
Mumbai and at the Special Economic Zone at Surat in Gujarat. It also has
a large sophisticated jewellery designing and manufacturing facility at
the SEEPZ and two jewellery manufacturing facilities at MIDC all in
Andheri, Mumbai.
For branded jewellery, GGL has established a large retail setup, which
includes 26 exclusive distributors across India with around 620 outlets
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including those in host stores, five standalone stores and 17 franchisee
stores in 30 cities and towns in India.
For its future growth, the company is expanding its production capacity
by setting up additional diamond and jewellery manufacturing facilities in
Mumbai and in the proposed Gems and Jewellery Special.
About Tanishq:
Tanishq is India's largest, most desirable and fastest growing jewelry
brand in India. Started in 1995, Tanishq is the jewelry business group of
Titan Industries Ltd - promoted by the TATA group, India's most respected
and widely diversified business conglomerate. This year marks a decade
of successful innings for Tanishq. With retail sales of 1200 crore last year
and gunning for 2000 crores this year, Tanishq has arrived in the Indian
jewelry market. It is a story of a successful Indian enterprise, which has
delivered value to its customers and shareholders in a complex category,
marked by its completely localized front end as well as back end.
Tanishq has set up production and sourcing bases with through research
of the jewelry crafts of India. Jewelry at Tanishq is crafted in one of the
world's most modern factories. The factory complies with all labour and
environmental standards. Located at Hosur, Tamil Nadu, the 1, 35,000 sq.
ft. factory is equipped with the latest and most modern machinery and
equipment. Every product at Tanishq is pain stakingly crafted to
perfection. Diligent care and quality processes ensure that the Tanishq
finish is unmatched by any other jeweller in the country.
Tanishq challenged the age-old jeweller's word with TATA's guaranteed
purity. It exploded the market with facts about rampant impurity across
India. It introduced technology-backed challenge in a category
completely governed by individual trust. Tanishq introduced innovations
like Karat meter, the only non destructive means to check the purity of
gold. Tanishq also introduced professional retailing in the dis-organised
Indian jewelry bazaar, where women can shop with comfort and peace,
without worrying about the purity of the jewelry they are buying, as well
as, select from the best jewelry collections available in the Indian
market.
Tanishq today is India's most aspirational fine jewelry brand with 91
stores in 64 cities, with an exquisite range of gold jewelry studded with
diamonds or coloured gems and a wide range of equally spectacular
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jewelry in 22Kt pure gold. Exquisite platinum jewelry is also part of the
product range.
USP: Pure Jewellery, Pure Joy
2. History
In 1994 the Gitanjali group introduced India’s first ever branded jewellery
Gili. Rated as a super brand, the brand still ranks as one of the top ten
jewellery brands in the country. Over the years the group has launched many
other superior brands and today it successfully manages over five of the ten
best-known jewellery brands in India.
Gili’s primary brand value is “Genuine diamond and gold jewellery at
affordable prices”. The first jewellery brand that brought diamond
jewellery within the reach of masses.
Tanishq was born in 1995 after the Tata Group decided to spread its wings
and embrace the branded jewellery segment. It was set up as a division of
Titan, the group company that had transformed the Indian watch-making
industry. Internationally, watches and jewellery have a sturdy synergy and
are often retailed out of the same store, with design being a key driver in
both categories. It made sense for a watch company with a strong retail
presence to look at its next wave of growth from the jewellery segment,
which had a huge potential.
Tanishq had a high-profile launch, but its initial production was restricted to
the 'studded' jewellery segment. Its strategy changed soon after to
accommodate the Indian preference for buying gold jewellery. Tanishq then
tacked to a mix of studded and gold jewellery and went in for a fusion-design
approach. Its initial methodology of using western designs changed as it
sought a wider market. This revised strategy was initiated in the year 2000,
when a new management team took over and turned around Tanishq's
fortunes.
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3. Market Scenario
•
Gili Jewellery, an 18 karat diamond studded brand, was launched in 1994.
This ushered in the birth of branded jewellery in India.
A radically new concept, it is a range of branded diamond jewellery for the
masses.
Gili offers pendants, earrings, rings in 18-carat gold studded with small,
well-cut, good quality diamonds, as matching sets or by themselves; in a
variety of designs that boggle the imagination.
It is simply high quality, diamond-studded, designer jewellery at prices
The Gili range was launched as more `wearable'jewellery, as opposed to the
kind you stored in your `locker'. "We wanted the college going generation
and office-goers to be able to wear our jewellery without constantly
worrying about its safety," says Sangani.
Today, Gili offers 18-karat plain and diamond stud jewellery, which is
suitable for daily wear.
Indians, especially women, have a fascination for jewellery that goes back
centuries. One manifestation of this continuous love affair with body
ornamentation is the fact that Indians are the world's biggest buyers of gold.
The market for jewellery in the country is second only to that for foods and
the trade is built around so-called family jewellers - the relatively small,
stand-alone establishments that are ubiquitous across the land. Tanishq
belongs to the House of Tata and, true to the group's policy; it aims at
bringing in credibility and professionalism to the jewellery industry.
India’s jewellery market is estimated to be worth Rs. 400 billion a year and
the share of the organized sector - jewellery stores and brands managed by
corporate houses - stands at about Rs. 10 billion. This small but significant
niche is largely the creation of Tanishq, a path-breaking effort that has
earned a well-deserved reputation for reliability and excellence, and for
introducing pioneering concepts in an industry where tradition once ruled.
The brand has a 40% share of the organized jewellery market and a 1% bite
of the overall jewellery pie (Source: World Gold Council and Mckinsey study
2003).
There are more than 300,000 independent, non-branded jewellery retailers
in India. The vast majority of these are singular entities that function out of
individual cities, though a few have expanded to acquire a state-wide
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presence. By and large, they offer conventional Indian designs and are
difficult to pin down on quality, since standards within this segment vary
considerably.
4. Diamond Specifications
Cut, Color, Carat & Clarity
The 4Cs are used throughout the world to classify the rarity of diamonds.
Diamonds with the combination of the highest 4Cs ratings are rarer, and
consequently more expensive. Light is the element that ignites a diamond's
brilliance and fire. Its interplay with each of the 4Cs will help explain why
one diamond can appear more beautiful than another. The good news is that
you don't need to buy the rarest diamond to find one whose beauty speaks to
you.
Cut is the only one of the 4Cs of diamonds that is influenced by the human
hand. The rest (color, clarity and carat) are created naturally as diamonds
form in the earth. At Tanishq we ensure that the most ideal cut diamonds
are used, so that the facets when arranged in precise proportions maximize
brilliance and sparkle.
Cut - refers to angles and proportions of a diamond.
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Color - refers to the degree to which a diamond is colorless.
Carat - refers to the weight of a diamond.
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Clarity - refers to the presence of inclusions in a diamond.
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5. Collections
GILI
Products: Diamond, Rings, Pendants, Bracelets, Earrings, Bangles, Two-
Tones, Color Stones, Sets.
Collections: Valentine Commitment, Chinese Zodiac, Sign Zodiac, Gili
Teens, Corporate Gifts, Pendants, Agni, Diamond Heart, Princess and Forever
Collection
Gili has a unique and timeless collection of precious jewellery. What's
more, these fabulous pieces are available at really affordable prices, with
the Gili certificate of authenticity
In 1997 Gili introduced Rivaaz, a collection of ethnic Indian jewellery. The
brand has also come out with a range of 24-carat jewellery with a
guaranteed .995 fineness under the launch name Gili Gold. Gili has also
launched a range of diamond clusters under the name Agni set in yellow
and white gold. It has to its credit added Gili plus, a premium range of
diamond-studded jewellery priced above Rs 20, 000.
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TANISHQ
Products: Colors of Royalty, Moham, Diamonds Collection, Wedding
Collection, Aria, Tanishq Design Accolades, Jodhaa Akbar Collection
Description: Colors of Royalty a range of exquisite studded jewelry,
reminiscent of the magical Victorian era. The collection is inspired by the
classic design essence.
The collection Moham comprises designs, motifs inspired by nature that
have been beautifully crafted to make them the most desirable possession
this season.
No gemstone expresses human emotions more powerfully than a diamond.
After all, a diamond is timeless and finding your perfect piece of diamond
jewelry is an exhilarating and unique experience.
The bride blushes everyone around smiles. The shehnai announces festivity.
The priests chant auspicious promises.
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6. Brand Ambassador
Bipasha Basu gives brand glitter to Gili. Bipasha Basu Pose for Gili Jewels
– Huge Scan going by the promos of ‘Bachna Ae Haseeno’
Bipasha Basu, a leading Indian film actress has been signed on by Gitanjali
Group as the new brand ambassador for its diamond jewellery retail brand
Gili. The actress will be the new face for an undisclosed time frame.
The Gili brand has been one of the very first diamond jewellery brands in
India. It has grown over the years into 500 outlets across 30 cities in the
country, besides being retailed through shop-in-shop formats.
Gili has been noted for its unique retailing formats, by setting up its stores at
sites like airports in elite areas. Its exclusive showrooms are called 'Gili
World'.
Mehul Choksi, Chairman, Gitanjali Group and Nakshatra, said, “In our effort
to find the right brand ambassador for Gili, a brand of mass appeal, we have
stumbled upon Bipasha Basu to endorse her alluring personality on its
products, which is a rhapsody of the traditional and modern. Not only were
we enthusiastic about the brand fit, but we also feel that Bipasha lends a
refreshing look to the brand. We are excited about having her on board as
the new face for Gili.”
Current Advertising Agency doing promotions for Gili is: Equus Red Cell
Fort, Mumbai
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Asin gives brand glitter to Tanishq.
Current Advertising Agency doing promotions for Tanishq is: Lowe
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7. Outlets
Gili has it’s manufacturing outlet at Andheri East. It has 256 outlets of
which 3 are exclusive stores Gili is also present in stores like AKBARALLYS,
ASIATIC, CITI PLAZA, GILI WORLD (AIRPORT), JUST IN VOGUE, LIFESTYLE,
PANTALOONS, SHOPPERS' STOP, WESTSIDE, Gili is spread throughout the
cities of India. Gili stores are run well with strength of 7-10 executives & a
head of the outlet. No. of employees vary from one shop to another
depending on how big the Showroom or the outlet is. Its peek Hours are
between 6 to 9 pm
Apart from the conventional jewellery stores, Gili is also available at up-
market stores like Shopper's Stop, Lifestyle, Globus and Hi-style. Gili is
known for its Diamond Heart collection, popularised through the Valentine
Day concept. This collection can also be bought through a mail-order
catalogue.
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North: - 1) Delhi, Flagship Store at Connaught Place
Tanishq, No. E-4, Inner Circle Connaught Place New Delhi-110 001
Ph: 011-64613545/ 43588368 Fax: 011-23730917
2) Delhi, Flagship Store at South Extension
Tanishq, No. G-16, Part – I, South Extension, Main Market, New Delhi - 110
049
Ph: 011-65656577 Fax: 011-6468058(Ro-North)
3) Delhi, Greater Kailash
Tanishq, No. M-68, M Block Market, Greater Kailash, Part I, New Delhi - 110
048
Ph: 011-55694999 / 51731635
East: - 1) Kolkata, Flagship Store at Camac Street,
Tanishq Fort Knox, No. 6, Camac Street, Kolkata - 700 017
Ph: 033-22827910 / 22827768 / 655 01539 / 64515330
2) Kolkata, Ghariahat,
Tanishq, No.9/3, Leela Roy Sarani, Ghariahat Road, Kolkata - 700 019
Ph: 033-24603065 / 24603067, Fax: 24602469
3) Kolkata, Kankugachi,
Tanishq, No.P-308, C.I.T. Road, Scheme VI M, Kankugachi, Kolkata - 700 054
Ph: 033-23549529 / 23549530 / 23549531 Fax: 033-3549532 / 033-2388192
West: - 1) Mumbai, Flagship Store at Khar,
Tanishq, 365/C, Linking Road, Khar, Mumbai-400 052
2) Mumbai, Ghatkopar,
Tanishq, 19-21, Kailash Plaza, Vallabh Baug Road, Opp. Odeon Cinema,
Ghatkopar East, Mumbai - 400 077
Ph: 022-25128020 / 25127684
3) Mumbai, In orbit Mall,
Tanishq, G-11, In orbit Mall, Mind Space, Malad Link Road,
Malad, Mumbai – 400068
Ph: 022-56406945/ 56406938
South: - 1) Chennai,
Tanishq, S-1, Shastri Nagar, 2Nd Avenue, M.G. Road, Adayar
Chennai - 600 020
Ph: 044-52151919 / 55517251
2) Chennai, Anna Nagar,
Tanishq, A1, 2Nd Avenue Anna Nagar East,
Chennai - 600 102
Ph: 044-26194810 / 26192759
3) Chennai, Flagship Store at Cathedral Road,
Tanishq, Crown Court, 34 Cathedral Road
Chennai - 600 086
Ph: 044-28110368 / 28110405 Fax: 044-24345079(Area Off)
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8. Services
After Sales services to retain the customers:
Gili wants its Customers to be delighted every time they shop. Occasionally
though, there are situations where customer would like to return the product
or exchange it with a new one. Understanding this need of consumer Gili
introduced Exchange Policy& Buy Back Policy at any point of time &
anywhere in India. It helps Gili to retain their customers & forms a good
relation; also customers become Brand Loyal because of such services.
Gili was the first one to come up with Branded Diamond Jewellery in India,
Gili is not the No.1 Brand; but Gili is one of the Top 5 Diamond Jewellery
Brands.
Current events: - Gili Launches the 'Heart of Gold' and Gili Turns 10
At Tanishq its not just the products, it’s the experience that matters. We
make sure that we give you the premium quality of not only product but
service as well. Tanishq not only has an exquisite range of designs to meet
all your requirements we also offer the benefit of any modification or
customization on products.
There are host of value added services that you can avail of at Tanishq like
the Golden Harvest Savings Scheme, Gift Voucher purchase, Exchange of gold
and diamonds etc. Golden Harvest Saving Scheme Tanishq’s “Golden
harvest Savings Scheme” is one of the most lucrative savings schemes that
enables to save each month with Tanishq and plan for wedding jewelry
purchases. Your monthly installments are safe with us, whereas savings at
home could easily get spent. This scheme provides you with much better
returns than other saving options like bank deposits or post office savings
schemes. In addition, Tanishq’s special bonus at the end of the scheme
period helps you stretch your jewelry budget.
Tanishq revives India's glorious past in Jodhaa Akbar: Launches prêt line
Tanishq Jodhaa Akbar collection
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9. Points of differences between Gili
and Tanishq
Gili:
1) It is dependent on other retail outlets and malls
2) Specialized in Diamonds products
3) It has wide range of products under diamond and gold
Tanishq:
1) It has self outlets of its own
2) Speaclized in Bridal Jewellery
3) Deals mostly in Stones and Gems very less collection for Diamonds
10. Expansion
Gili on expansion spree -- To go international; launches premium jewellery
THE Mumbai-based House of Gili is making its foray into the international
market by teaming up with retailers like Damas (for the UAE market) and
Marina B (for the Swiss market) to have retail outlets in malls and hotels all
over the world. With an investment of Rs. 2.5 crores, the brand is expecting
a sale of about $3 millions in the first year. The brand will also be made
available in Sri Lanka and Malaysia. Mr. Shailesh Sangani, Managing Director,
Gili, said, ``we will sell our jewellery under our own brand name, unlike
others who export their products.'' This would include all the warranties and
ethnic designs which Gili offers to its consumers in India.
Besides, Gili is extending its brand to launch Gili Plus _ a premium range of
diamond studded jewellery priced upwards of Rs. 20,000. Gili was launched
in 1994, targeting mainly the youth who wanted to celebrate Valentine's Day.
Since then, the brand has clocked a turnover of Rs. 90 crores. The new high-
end sub-brand from Gili will now target the slightly older woman with a
penchant for diamonds. However, the size of the products will be larger and
will include bangles, bracelets and necklaces _ most of which are missing
from the existing Gili range. Tanishq, the jewellery business group of Titan
Industries, is the blockbuster action thriller from the Tata group.
Tanishq has 104 stores in 71 Indian cities; Gold Plus has a presence in 21
towns. Tanishq to expand retail outlets aims Rs 3,000 cr sales. The jewellery-
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making facilities of the Company at Hosur were commissioned in 1994. We
intend to spend approximately Rs. 775 lakhs on equipment for line balancing
and productivity improvement.
Tanishq is the primary brand under which we market our jewellery. We
opened the first Tanishq jewellery store in Chennai in 1996. Currently, we
sell Tanishq jewellery through over 81 stores spread across over 61 towns in
India, which are either Company managed, management agent owned, or
franchised. The Company managed showrooms serve as flagship retailing
stores designed to provide the best that the Tanishq stores have to offer to
customers. They also influence the operations of other franchisees and bring
about uniformity across the retail chain. Tanishq jewellery is also exported
to Europe, the US, the Middle East and Australia. Tanishq has recorded a
sales turnover of Rs. 53,400 lakhs for the financial year 2004-2005. Tanishq
has stepped foot into the US retail market. The next store launch is expected
to be in New Jersey
11. Market Shares
In February this year, GGL raised around Rs.330 cr. through an IPO of Rs.1.70
cr. shares at Rs.195 per share to invest in its subsidiaries/ associate
companies expand its manufacturing capacities and penetrate the retail
market besides the development of the SEZ near Hyderabad. For FY06, it
recorded 20% rise in top-line to Rs.1621 cr. but its net profit zoomed by 450%
to Rs.48 cr. on the back of better operating margins. This led to an EPS of
Rs.8 on equity of Rs.59 cr. considering its focus on jewellery business and
retail expansion; it is estimated to report a turnover of Rs.2000 cr. and net
profit of Rs.70 cr. for FY07. This will translate to an EPS of Rs.12 and at a
reasonable discounting of 18 - 22 times; it should trade in the range of
Rs.220-260. Investors are strongly recommended to buy and hold for at least
15-18 months
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12. Marketing Strategies, Sales &
Distribution
In 1997 Gili introduced Rivaaz, a collection of ethnic Indian jewellery
Gili to attract its costumers and satisfy its consumers comes up with
strategies like
a) Gili promise
i.e. Guarantee of Authenticity of its products.
b) provides with certificate of Authenticity
c) ISO-9001:2000 & Best Business Practice Certificate
The BBP Certification encompasses areas including
Employee Safety, Satisfaction Index, Medical Avail-
ability, Environmental Protection Standards, etc.
d) Seasonal Advertisements: Hoardings, Brochures to
Valued Customers & Occasional Ads like Valentine
Specials, Raksha Bandhan, Personal Hearts, Bridal
Jewellery, etc.
e) Corporate gifts Collection: The Brand is very much
popular in the market for its Corporate Jewellery Col-
lections
f) Costumer Care: Gili’s attempt to build a rapport with
its end consumer is set up of Customer care service
10.00am to 9.00pm 6 days a week.
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g) Gili also comes up with special offers on top selling
products
h) Online shopping concept is also adopted by Gili
Tanishq jewellery is sold exclusively through three types of stores namely
(a) Company operated stores
(b) Management Agent stores and
(c) Franchised stores
We have Company operated stores in Bangalore, Hosur, Chennai, Calcutta,
Mumbai and New Delhi. Tanishq has not only developed a national retail
chain with uniform and transparent practices and policies but also
maintained consistency of retailing standards across all these stores on an
ongoing basis.
Tanishq has undertaken certain marketing initiatives, including launching a
heritage special collection and conducting sales promotion schemes to
activate the market and attract customers. These marketing activities are
usually on the basis of collections, seasons and certain customer schemes.
Wedding/Heritage Jewellery
A wedding is usually the biggest occasion for jewellery purchase in India.
Tanishq has a wide collection of jewellery including bangles, ear rings,
necklaces, sets specific to culture and ethnic requirements for wedding and
wedding related occasions.
Tanishq has launched certain jewellery collections which take inspiration
from Indian culture and is designed keeping in mind the modern Indian
woman.
Festivals
We celebrate important festivals like Dhanteras, Akshaya Tritiya, Rakhi and
Durga Pooja by offering special advertising, store decoration,
promotions/schemes, and sometimes new collections too.
Customer Schemes
We institute certain schemes on a regular basis to build our existing
customer base and to attract new customers. In addition there are certain
other initiatives that we have done in our stores like (i) Category melas,
where various products like neckwear, bangles, and others in various designs
are put together in a store for a limited period and promoted through
advertising, store facades and local activities; and (ii) Karat meter
testing/jewellery servicing camps/jewellery makeover week.
Gold Plus
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With a view to capture the semi urban and rural market, which caters to the
informed, educated and middle class and upper middle class across the
towns in India, we have recently launched Gold Plus, our brand name for
pure gold jewellery products. Gold Plus was launched in September 2005,
through a new retail format and business model.
We are still in the pilot stage and have opened two Gold plus stores at Erode,
Tamil Nadu and Ratlam, Madhya Pradesh.
Quality Assurance
We guarantee the purity of our gold jewellery and certify the quality of our
diamonds and coloured gems. We have established ourselves as a highly
ethical player in a market that was rated as having the highest incidence of
underkaratage.
13. Competition
Challenges & Problems Faced by the brand: 'Branded' jewellery was
unheard of in India until Gili came along. Traditionally in India, women did
not wear diamond jewellery often, apart from special occasions such as
marriages and festivals. Indians were only aware of 22karat jewellery in the
market. The notion of 18karat jewellery was completely unheard of. By
conducting an extensive research and study on whether the country was
prepared for branded jewellery; Gili came to the fore with its grounding to
make available jewellery that was wearable, within means and beautiful. A
time when diamond was the possession of the rich and there were few
diamonds retailers, Gili was unwavering in its endeavor to present affordable
and elegant ornaments to all.
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The Gili formula had worked in changing the people's perception regarding
wearing Diamond jewellery only on special occasions, and it was now an
everyday affair as women embraced and accepted the Gili way of adorning
themselves.
According to a recent survey, consumers have a strong brand recall for
Gitanjali's brand names.
The Gili brand is currently valued at Rs 85 crore and enjoys a 45 % market
share among branded jewellery.
The market for diamond jewellery has recently witnessed the entry of
several players who were engaged in the cutting and polishing of diamonds
for supply to jewellery manufacturers. The shrinking margins in the cutting
and polishing business has forced them towards forward integration and they
have launched various brands of diamond jewellery such as Kiah, Orra,
Nakshatra, Asmi, Arisia and Collection ‘g’ which are available through a
national network of other jewellers. Industry bodies like the World Gold
Council (WGC), Diamond Trading Company (DTC) and Platinum Guild
International (PGI) are also investing substantial monies in marketing gold,
diamonds and platinum respectively and are actively promoting their site
holders through various advertising campaigns both in the press and
television.
Over 3, 00,000 independent jewellers in the unorganized sector service the
large jewellery market, most of these being singlestore and city specific
retailers though some also have a regional presence. Tanishq’s primary
competitors are the top three to five jewellers at the premium end of the
jewellery market, in each city where we are present and who attract our
target customers. Most of these jewellers have usually been in existence for
several decades, are family run, benefit from having local knowledge and a
loyal base of customers. Some of the regional players include Mehrasons
Jewellers (Delhi), Tribhuvandas Bhimji Zaveri (Mumbai), B.C.Sen and
P.C.Chandra (Kolkata), G.R.Thanga Maligai (Chennai) and C. Krishnaiah
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Chetty (Bangalore). We have also begun facing competition from
international jewellery brands such as Damas.
Other Competitors: Blue Rising, D'Damas, Surat Diamonds, Asmi, Sri
Jagbamba, Diya, Nakshatra, Sangini
14. Achievements & Awards
Gitanjali Group is Business Super brand 2008
Was presented the award by Brand Council of India
Gitanjali Group has been honoured by Brand Council of India with the
“Business Super brand 2008” award in the gem and jewellery segment. A
Super brand is profiled by its management, as one, which has established the
finest reputation in its field and offers customers significant emotional
and/or tangible advantages over its competitors, which (consciously or sub-
consciously) customers want and recognize. The concept evolved in the UK in
1993, and came into India as Super brand India in December 2002.
Commenting on the award, Mr. Mehul Choksi, Chairman, Gitanjali Gems,
says, “Gitanjali has always stood for unparalleled quality, trust and
reliability. It is indeed a great honour to receive a prestigious award like the
Super brand Award. I believe that the marketing and the promotional
activities of any company plays a major role in the growth of any company
and this award just proves that”. The Gitanjali Group has nurtured brand
values of leadership, performance, trust, care, innovation and sensitivity,
and has been providing this package to its consumer communication focuses
at eliciting segment, at every stage of marketing, promotions and
advertising. Gitanjali brand has and continues to tap every human emotion,
in effect becoming an expression of emotions, for customers.
Tanishq was a trailblazing endeavor to create a national retail chain that
would provide consumers with jewellery of reliable worth and high design
value. Its entry changed, in more ways than one, the way the Indian
jewellery market operates. With 66 exclusive outlets spread across some 50
cities and a fully integrated jewellery manufacturing facility at Hosur, in
Tamil Nadu, Tanishq has emerged as one of India's biggest retailers.
Tanishq has established itself as an ethical player in a market where
unscrupulous retailers have often betrayed consumer trust. The introduction
of 'Karat meters' - instruments that can be easily used by consumers to
measure the purity of gold in a non-destructive manner - at its outlets is a
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key innovation that has developed tremendous equity for the brand. Another
Tanishq novelty, one on which the brand's growth strategy is premised, is in
the matter of differentiated designs, be they contemporary or traditional,
Indian or international. Modern retail values and principles in the selling of
branded jewellery in India are almost completely the handiwork of Tanishq.
The brand has broken fresh ground in retailing by creating exclusive outlets
with hitherto unknown in-store ambience and hospitality touchstones. It has
launched new collections at a quicker rate than its competitors, and
conducted marketing promotions and fashion shows to enhance the shopping
experience of consumers.
Although the purchase of branded jewellery is still a new experience for a
whole lot of Indians, the Tanishq brand enjoys increasing levels of consumer
loyalty. Over the past three years, it has been one of the best performers in
the branded jewellery sector. In 2002, about one million people shopped at
Tanishq stores all over the country. A highlight of the brand's success is that,
while the jewellery market growth has declined during the past two years,
Tanishq has recorded an annual growth of approximately 40%.
Besides catering to Indian consumers, Tanishq has successfully entered key
export markets such as the US, the UK, the Middle East, Singapore and
Australia. This is testimony to the brand's ability to craft products that meet
the requirements of varied cultures and sensibilities. The brand Tanishq, like
the Tata name, has established itself as an ethical brand, earning the
respect and affection of its consumers
Tanishq wins 4 awards at Retail Jeweller India
Award 2008
Is considered the strongest in marketing and promotions
The Retail Jeweller India Award 2008 has honoured Tanishq, with awards in
four categories – ‘Retail Chain of the Year’, ‘360 degrees Marketing
Campaign of the Year’, ‘TV Campaign of the Year’ and ‘Gold Vivaha
Jewellery’.
Tanishq won the 360 degrees Marketing Campaign of the year award for its
Jodhaa Akbar Collection. Also, having a retail presence across 112 standalone
boutiques across 75 cities in India, delivered it the award for Retail Chain of
the Year. Its product portfolio promoting design, gold jewellery backed by
the value of TRUST, won it the ‘Gold Vivaha Jewellery’ award and its
television commercial for diamonds won it the ‘TV Campaign of the Year’.
The Retail Jeweller India Award is considered the helm of judging the best in
the Indian gem and jewellery industry, in terms of branding, marketing,
products, design etc. This year, the competing companies included TBZ,
CKC-Bangalore, Prince Jewellery, Joy Alukkas, GRT-Chennai, Notandas,
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Anmol, Mahesh Notandass, Minawala, Orra, Nirvana, Gili, Damas, P N Gadgil
Hazoorilal, Punjab Jewellers and Punjabi Saraf, along with jewellers from
Bhopal, Guwahati, Calcutta, Surat, Amristar, Pune etc. Participation at the
awards included more than 300,000 retailers, 10,000 jewellery
manufacturers/brand owners and leading 10 design schools of India.
15. Which Brand according to me is
better & why?
Gili, it offers a wide range of 18-carat gold and diamond jewellery that
has been designed to appeal to the contemporary Indian women. It
reflects the Indian woman
16. If I was in position to advice the
company to increase the sales, how
would I do it?
Gili should advertise its products in a rigorous way so as to bring it to end
user’s notice.
Gili is specialized only in Diamond Pendants; hence it should come up with a
new specialty range to attract more and more costumers.
Gili also need to expand in other cities of India where it does not exist now,
this will lead to an opening of new market for the brand
Gili’s Collection price range is more expensive than its competitors, which
needs proper cost analysis to compete well.
17. Source of Information:
Gili representatives (Ms. Ramil, Mr. Rajesh & Ms. Paramjeet)
Tanishq representatives (Mr. Anirban Sen, Mr. Vikas Hedge & Ms. Tanuja)
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Gili References: Gili stores, outlets, Gili Website, Internet.
Tanishq References: Tanishq stores, outlets, Tanishq Website, Internet.
18. Consumer Poll
1. Which brand would you prefer?
Tanishq Gili Other
2. Which Brand do you find most expansive?
Tanishq Gili
3. How frequently do you buy Jewellery?
Monthly once in 3 months once in six months
4. How is the collection range of Gili?
Excellent Good Poor
5. How is the collection range of Tanishq?
Excellent Good Poor
6. How do you find the price of the products?
Very High High Normal
7. How is the Diamond Jewellery Collection of Gili?
Excellent Good Poor
8. How is the Diamond Jewellery Collection of Tanishq?
Excellent Good Poor
9. Are you satisfied with the services provided to you by Gili?
Yes No
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10.Are you satisfied with the services provided to you by Tanishq?
Yes No
11. Do you think there should be more designs introduce frequently?
Yes No Depends
12.Do you think Gili is upto the marl with their promises?
Yes No
13.Do you think Tanishq is upto the marl with their promises?
Yes No
14.Will you recommend Gili Products to other, as you are satisfied?
Yes No
15.Will you recommend Tanishq Products to other, as you are satisfied?
Yes No
16.Are you Brand Loyal?
Yes No
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An outstanding Today & an Incredible
Tomorrow
Thank you,
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