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jewellery retail in india

jewellery retail in india

Discuss jewellery retail in india within the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT forums, part of the Projects HUB for Management Students ( MBA Projects and dissertations / BMS Projects / BBA Projects category; • Worldwide, the gems and jewellery industry has been growing at a good pace and is currently estimated at over ...

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jewellery retail in india
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aadilmasaud
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Post jewellery retail in india - July 22nd, 2008

• Worldwide, the gems and jewellery industry has been growing at a good pace and is currently estimated at over US$ 130 billion. In India, it accounts for nearly 20 per cent of total Indian exports. It provides employment to 1.3 million people directly and indirectly.

• Increasing purchasing power and disposable incomes of India’s middle class has resulted in consumption growth of this industry by about 11 per cent in the five-year period preceding 2006-07. Add to that the insatiable Indian craving for gems and jewellery, and the demand will skyrocket to US$ 20 billion by 2010 and US$ 30 billion in 2015, according to industry experts.

• India’s gems and jewellery industry has been allowed 51 per cent foreign direct investments by the government in single brand retail stores attracting both global and domestic players to this sector.

• According to a report released by Technopak Advisors on Changing Retail Landscape in India, the jewellery and watches market is pegged at about US$ 13.52 billion. It is expected to register a 12 per cent growth by 2012, touching US$ 23.54 billion.

• Experts believe that by 2013, India will become the biggest consumer of jewellery.

• In the recent years a large number of players have been attracted to the Indian gems and jewellery retail sector:
• Reliance Retail is planning an aggressive entry into the jewellery retail market through its about 400 to 500 jewellery retail outlets across the country.
• Damas India, part of one of the largest jewellery retail outlets in the world, is adding 16 new stores to its present dozen stores in India.
• Swarovski, the global crystal goods manufacturer and marketer plans to set up 30 stores by 2009, from the current 13.
• The Gitanjali Group bought 'Nakshatra', the premium brand of jewellery promoted by Diamond Trading Company (DTC)
• Mumbai-based Vardhaman Developers plans to build four more jewellery malls in the city and is already set to launch Jewel World-Mumbai’s first jewellery mall.
• Dubai-based Joy Alukkas has recently opened its largest showroom in Chennai.
• Viswa and Devji Diamonds a partnership between the Indian group and the top jewellery retailer in UAE opened its first diamond retail outlet.
• Gitanjal Gems Ltd opened its first luxury jewellery mall in Gurgaon, where a number of international brands have started their retail business.
• Gold Souk India has plans for bringing 100 Souks in 100 months


Gold
The gems and diamonds industry contributes over 15 per cent of India's total exports. The industry is jewellery industry is predominantly divided into two segments: Gold jewellery and fabricated studded jewellery (diamonds as well as gemstone studded jewellery)
• India consumes nearly 800 tonnes of gold accounting for about 20 per cent of the world gold consumption...
• ...of which nearly 600 tonnes goes into making jewellery.
• According to The World Gold Council (WGC) total gold supply in the second quarter this year stood (Q2FY08) at 840 tonnes, whereas the demand was 944 tonnes.
• A study by KPMG reveals the Indian jewellery market to be US$ 13.5 billion in fiscal 2006-07, accounting for 8.3 per cent of world jewellery sales.
Diamond
The Indian diamond trade generates over US$ 4 billion per annum in exports, its large labor force is integral to catapulting the country as the biggest diamond cutting center for small roughs. India was known to have diamond mines many centuries ago and has continued to maintain its tradition of diamond cutting with an estimated 1 million processors handling over 57 per cent of the world’s rough diamonds by value.
• 11 out of 12 stones (diamonds) set in jewellery are cut and polished in India (processing is done on rough diamonds in full range of sizes and qualities, including stones larger than 10 carats).
• India's share in this sector is about 80 per cent of the world market.
• India also accounts for 90 per cent of the volume of diamonds processed in the world.
• India employs over 90 per cent of the global diamond industry workforce.
• Diamond jewellery consumption is likely to jump to nearly 80 percent in 2010 and over 95 per cent between 2010 and 2015,' according to Assocham president Venugopal N. Dhoot.

 Newindpress.com says market analysts predict the sector will grow by 40 per cent from its current value of around 22 billion rupees (£262.91 million) thanks to a number of Indian jewellery houses opening their own shops.

 Companies that have already entered the organised retail market in the north and south of the country include Alukas, Bhim, Malabar Gold and Kalyan Jewellers, the site says

 Damas India, part of one of the largest jewelry retail outlets in the world, is adding 16 new stores to its present dozen stores in India. And foreign investment banks Morgan Stanley, Citigroup and Goldman Sachs – as well as BSMA Ltd. – collectively purchased a 7% stake in Gitanjali Gems for around US$27.8 million.

 The gold-hungry domestic market is also being targeted by Reliance Retail, now planning an aggressive entry into the jewelry retail market through its about 400 to 500 jewelry retail outlets across the country.

 Today, with its cut and polished diamonds, colored gemstones, gold jewellery, pearls, non-gold jewellery and fashion jewellery, India accounts for almost 50% of the international market. The gems and jewellery sector contributes nearly 55% of the world’s net exports of cut and polished diamonds in value, 90% in terms of pieces and 80% in terms of carats

Major Players in the Jewelery Market
Of late, some of the world's biggest names in the jewelery and luxury items such as watches and cuff-links are making inquiries to set up shop in India. Multi-national jewelery brands such as Tiffany, Cartier, Zales and Harry Winston are all said to be interested in coming here following the Government's decision to allow foreign direct investment of up to 51 per cent in single brand retail stores. Most of these stores have been sourcing cut and polished diamond and gold items from Indian firms. Now they are making inquiries for possible tie-ups in India.

Other existing and new foreign players are drawing plans for expansion and launch of their operations in India:
• De Beers has got permission to survey for diamonds in Jharkhand,
• Italian luxury silverware manufacturer, Greggio Argento, will set up two exclusive stores in Mumbai and Delhi within the next three months, through a marketing tie-up with Gitanjali Lifestyle – a subsidiary of Gitanjali Gems.
• Swarovski, the global crystal goods manufacturer and marketer, is on an expansion spree in India and hopes to achieve 5 to 10 per cent of the global turnovers from the country in the next ten years. The company plans to set up 30 stores by 2009, from the current 13.
• Damas India, part of one of the largest jewelery retail outlets in the world, is adding 16 new stores to its present dozen stores in India.
Simultaneously, domestic players are also drawing aggressive plans:
• Shrenuj & Company Ltd has acquired 84.6 per cent stake in the US-based jewelery distributor Simon Golub & Sons Inc for US$ 22.7 million.
• Kerala-based jeweller Malabar Gold will spend US$ 48 million over the next year in order to expand its presence in southern India as well as abroad.
• Gitanjali Gems Ltd, a Mumbai-based jeweller, has incorporated a wholly-owned subsidiary in Dubai, Gitanjali Ventures DMCC, whose main activity is trading in diamonds, precious stones, diamond jewelery and pearls.
• Also, the Gitanjali Group has announced its foray into the luxury retail market through a new entity ‘Luxury Connexions'. The company will invest US$ 24.5 million over three years to set up luxury malls in eight leading cities across the country.
 The Gems and jewellery (G&J) market essentially comprises of sourcing, processing, manufacturing and selling of precious metals and gemstones, such as, Gold, Platinum, Silver, Diamond, Ruby, and Sapphire etc.
 The G&J market is a significant contributor to the Indian economy, based on the size of the domestic market and through its contribution to the country’s exports. India is the largest consumer of gold (around 20 percent of global consumption) and also the largest diamond processor (around 90 percent by pieces and 55 percent by value of the global market).
 India’s G&J industry is highly unorganized and fragmented with 96 percent of the total players being family owned businesses. The gold processing industry has around 15,000 players, with only 80 having revenues over USD 5 million. India is also home to around 450,000 goldsmiths, 100,000 gold jewelers along with 6,000 diamond processing players and 8,000 diamond jewelers.
 There are a few major players in the G&J segment, with Rajesh Exports being the most dominant name. Other key players in the field include Gitanjali Gems, Suhashish Diamonds, Su-Raj Diamonds, Viabhav Diamonds and Tanishq.
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Re: jewellery retail in india - February 1st, 2009

Thanx for this great post.. nice work done
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Smile Re: jewellery retail in india - February 1st, 2009

wonderful presentaion of facts of jewellery retail
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Re: jewellery retail in india - May 12th, 2009

hey can anyone let me knw about the various promotional strategies involved in retail jewellery business.. as i hav too make aproject on it ...
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