2. Overview
The abolition of the Gold Control Act in 1992,
allowed large export houses to import gold freely.
In 1993, gold and diamond mining were opened up
for private investors
foreign investors were allowed to own half the
equity in mining ventures
In 1997, overseas banks and bullion suppliers were
also allowed to import gold into India
This allowed the entry of foreign players like
DeBeers,Tiffany and Cartiers into the Indian market.
3. MAJOR PLAYERS IN THE MARKET
GILI:
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 percent share of the 400 billion jewellery market in
India and a 1.4 percent share of the branded jewellery
market.
Opened a jewellery salon, Gianti, to provide
customised jewellery to clients.
4. MAJOR PLAYERS IN THE MARKET
TANISHQ:
In 1995, Titan changed its name from 'Titan Watches
Ltd.' to 'Titan Industries Ltd.‘
In the same year, it also started its jewellery division
under the Tanishq brand.
Tanishq is considered to be a trendsetter.
Tanishq began with 18-carat jewellery.
It expanded to include 22 and 24-carat ornaments as well
1998, Tanishq decided to set up its own chain of retail
showrooms
By 2002, Tanishq retailed its jewellery through 53
exclusive stores across 41 cities
Tanishq had a 0.66 percent share of the total jewellery
market in 2007-08 and a 27 percent share of the branded
jewellery market
5. MAJOR PLAYERS IN THE MARKET
CARBON:
In 1996, within the fold a new brand 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 a 1.4
percent share of the branded jewellery market.
It started exporting in the year 2008.
The brand is available in 23 cities countrywide.
6. MAJOR PLAYERS IN THE MARKET
OYZTERBAY:
Founded by Vasant Nangia and his team in July 2000
Oyzterbay seeks to build a national brand in the
jewellery industry in India
With sales of Rs. 0.17 billion in 2003-0, Oyzterbay
had a 0.04 percent share of the Rs.400 billion jewellery
market and a 1.7 percent share of the branded jewellery
market.
7. WHAT LED TO PROLIFERATION OF
BRANDED JEWELLERY PLAYERS??
The Indian market was witnessing an accelerated shift from
viewing jewellery as an investment to regarding it as
aesthetically appealing ornaments. The focus had shifted from
content to design.
The younger generation was looking at trendy, contemporary
jewellery and clearly avoiding heavy, traditional gold jewellery.
The consumer wanted a wider selection at a single convenient
location and expected an international shopping experience.
The Indian consumer was willing to experiment with new
designs.
8. STRATEGIES FOR WOOING
CUSTOMERS
TANISHQ
Tanishq worked hard on a two-pronged brand-building strategy:
▪ cultivate trust by educating customers about the unethical
practices in the business and
▪ change the perception of jewellery as a high-priced purchase
One way to create differentiation was through design
Tanishq decided to focus on quality control:
it introduced caratmeters which showed the purity of gold
In November 2002, Tanishq introduced a new collection of jewellery called
'Lightweights.
It also focused on small town markets.
9. STRATEGIES FOR WOOING CUSTOMERS
CARBON:
Always focused on moving jewellery from the vault to the
dressing table
It sold its products as gift items over the internet
Like Tanishq it also laid emphasis on design
In 2002, Carbon launched its 'Sun Sign' collection, based
on the symbols of the Zodiac
10. STRATEGIES FOR WOOING CUSTOMERS
OYZTERBAY: Jewellery for the
Living:
The initial focus - to give a lifestyle value to
jewellery instead of the traditional investment value
Emphasized on marketing and advertising strategies
to give the necessary thrust for growth
Oyzterbay launched media campaigns
The new campaign focused on positioning
Oyzterbay as jewellery for office wear, evening wear
or even a fitness session
They offered exclusive products to clients by
refurbishing its collection every few months, keeping
in mind international trends
11. STRATEGIES FOR WOOING CUSTOMERS
GILI:
The company's products were made available
through a mail-order catalogue
All Gili products came with a guarantee of diamond
and gold quality.
In 2000, Gili launched its 'diamond heart collection'
targeted at teenagers and priced between Rs 500 and
Rs.2500
The collection was promoted at college campuses
Special packaging, catchy advertising and extensive
press coverage contributed to the success of the
collection
12. CONCLUSIONS
Branded jewellery players will continue to face lot of
competition from local jewellers.
Besides the major brands several regional players have opened
branches to leverage the trust and reputation that they have built
up over the years
Most of the branded jewellery players in India focused on
yellow gold
Few of them experimented with the pink and white forms of
gold.
Some of the players also used diamonds and platinum, which
appear to have a good future in the Indian jewellery market.
