The Gitanjali Group is bullish on the South Indian market, and is looking to ‘more than double’ sales in the region in the coming year. It will also expand its retail presence from the present spread of 80 outlets, to between 150 and 175 outlets by the end of the year.
Speaking to exchange4media, Anuj Rakyan, Vice-President, Gitanjali Group, said, “Culturally, the South has been a very traditional and conservative market. In terms of design, pricing, hallmarking of jewellery, certification of diamonds, customers here want the best in quality. We intend to grow the market through designers, who will merchandise for the South preferences, ensure that the quality on offer is in tune with expectations, and make our brands more readily available. In terms of brands, we have a very good proposition, with our variety, for the market in the South.”
The spokesperson stated that over the past year, 15 per cent of the acquisitions were in the branded diamond jewellery. He added that Gitanjali’s strengths in the branded diamond segment further drove the company’s optimism in the region.
Meanwhile, at an event in Chennai on May 27, Gitanjali launched Italian jewellery brand Gold Expressions in the South. Former Miss World, Lara Dutta, unveiled the collection. World Gold Council Vice-President, Shivram, was also present on the occasion.
Gitanjali would work on ‘more than doubling its sales’ in the South region in the coming year, explained Rakyan. He said, “This market is driven by lot of activity. There are a lot of specific occasions to build on here, and promotions are typically built on religious occasions – like you have the Akshaya Trithiya, which is very big. We will target such large opportunities. We will have some very big events in the plan, and we have started off with the Metro Plus Lifestyle show here now.”
The brands promoted by the group include D’damas, Gaintti, ASMI and Nakshatra. The recently introduced Gold Expressions is positioned as a brand for ‘women of substance’.