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Gitanjali Group acquires Asmi brand of diamond jewellery from DTC

06-May-2006
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Gitanjali Group acquires Asmi brand of diamond jewellery from DTC

The Asmi brand of diamond jewellery was formally handed over to the Gitanjali Group by the Diamond Trading Corporation (DTC) recently. To mark this beginning, a new TV ad campaign featuring brand ambassador Kajol has been unveiled.

The new campaign has been created by Fortune and is about women who discover more about their potential and reward themselves with Asmi. Kajol presented these inspiring stories of self-discovery and motivated women to reward themselves with Asmi diamond jewellery, the company said in a statement. The new print campaign is already appearing in all major magazines and dailies.

Said Anuj Rakyan, VP, Gitanjali Group, on acquiring the Asmi brand, “It’s a very special moment for us to acquire the glitters of Asmi. I strongly believe Asmi would help us carry on our glorious journey with all its flamboyance. Asmi is already unleashing its photons over women and I am sure this fusion would leave their beauty with altogether a different finishing touch.”

“DTC has always looked towards developing the diamond jewellery market worldwide and has launched flagship brands in local markets, after intensive consumer research. Based on the findings of the research, brands are introduced, nurtured and then handed over to its site-holders to run. Asmi was launched to cater to the woman of substance and satisfies the need for reward. Asmi has now been handed over to Digico (Gitanjali Gems) and we are confident that the group will keep the shine of Asmi glowing,” said Cherie Tandon Saldanha, Marketing Director, India, DTC.

Gitanjali Gems has also announced initiatives to transform jewellery retailing paradigm in India. They have announced three strategic initiatives to further revolutionise the sector by significantly enhancing the reach of jewellery retailing. These initiatives are also aimed at fundamentally improving the jewellery purchasing experience of the Indian consumer by increasing transparency and enhancing credibility.

Gitanjali Gems Ltd, through its division, Gitanjali Retail Venture (GRV), has launched a major strategic expansion in the jewellery retail sector, through multi-branded exclusive stores, based on four new formats, across the country. Further, a new GRV initiative, called ‘Infinity’, will function as the Indian retail jewellery sector’s first retail fund, to enable jewellery retailers offer a global-class retail experience to Indian consumers.

Another initiative, called ‘EzeeDiamond’, an online and on-ground venture aimed at integrating the retailing of loose diamonds with a transparent issue of its price list, thus creating a new diamond index, was announced. Gitanjali Gems will also take the lead in creating and offering a new benchmark, Tiesa, ‘The Preferred Jewellers of India’, which is aimed at building consumer confidence for jewellery retail outlets.

Said Mehul Choksi, Chairman, Gitanjali Group, “With the changing face of retail in India and the advent of new formats of retailing, the consumer has come to expect a better shopping environment so, also in shopping for their favourite jewellery. The underlying objective would remain to build franchisee confidence through direct participation of GRV in store operations, which would further enhance the service and consumer experience in the store.”

The retail rollout is expected to touch 150 outlets in the first year of operations and will achieve a nationwide expanse of over 1,000 outlets by its third operational year.

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