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PREFACE
I am pleased to present the project report on "MARKETING
STRATIGIES OF GEETANJALI JEWELLERS !eore m# respected
readers$ It %s a h&m!le attempt rom m# part to j&d'e cons&mer!eha(%or or the e)ect%(eness o e*%st%n' and sel des%'ned ad+
cop# o Sp%ces$
Th%s st&d# deals ,%th a n&m!er o top%cs- ,h%ch ,%ll help the
reader &nderstand and learn ho, cons&mers ma.e
cons&mpt%on dec%s%ons re'ard%n' Sp%ces$
Lan'&a'e o the report %s s%mple and l&c%d$ Attempts ha(e !een
made to arran'e the s&!ject matter %n a s#stemat%c and ,ell+.n%t st#le$ E)orts ha(e also !een made to deal ,%th all top%cs
prec%sel# and 'entl#$
I e*press than.s to all those prol%/c teachers and e*perts o
mana'ement ,hose theor%es and %deas ha(e !een %ncorporated
%n th%s project report$
0esp%te o th%s %t %s (er# d%1c< to !e perect to the core and
m%sta.es do creep %n or ,h%ch I e*tend m# apolo'# and car(e
the hosp%tal%t# o the readers to po%nt them o&t$ The%r cr%t%c%sm
and s&''est%ons or the %mpro(ement %n &t&re are ,elcomed$
KETKI GO2AL
ACKNOWLEDGEMENT
Preparing a project of this nature is an arduous task and I was fortunate
enough to get support from a large number of persons. Iwish to expressmy deep sense of gratitude to all those who generously helped in
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successful completion of this report by sharing their invaluable time and
knowledge.
It is my proud and previledge to express my deep regards to Respected
Mr. Anand Tiwari, Head, aculty !f ".".#. $epartment, %ovt.
#utonomous %irls P.%. &ollege of 'xcellence (agar for allowing me to
undertake this project.
I feel extremely exhilarated to have completed this project under the able
and inspiring guidance of Mrs Shikha Urmil Khan He rendered me all
possible help and guidence while reviewing the manuscript in finalisingthe report.
I also extend my deep regards to my teachers, family members, friends
and all those whose encouragement has infused courage in me to
complete the work successfully.
KETKI GOYAL
B.B.A. IV Sem. IInd Year
CERTIFICATE
0ate3
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The project report t%tled "MARKETING STRATIGIES OF
GEETANJALI JEWELLERS has !een prepared !# MISS KETKI
GO2AL- IInd 4atch- &nder the '&%dance and s&per(%s%on o MRS$
S5IK5A 6RMIL K5AN - or the part%al &l/llment o the de'ree
o 4$4$A$75on8$
Signature of the Signature of Signature of
Supervisor: Head of the the examiner
Department 3
DECLARATION BY THE CANDIDATE
Date:
I declare that the project report t%tled "MARKETING
STRATIGIES OF GEETANJALI JEWELLERS%s m# o,n ,or.
cond&cted &nder the s&per(%s%on o MRS$ S5IK5A 6RMIL K5AN-
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jewelers hold '(per ent of the market share, while large brands or organised
retail form only ) per ent of the overall market.
%mong the gold market, gems and jewellery segments shows highest potentialof growth the growth of retail business in this area. *he Indian gems and
jewellery setor ontributed to about + per ent of India-s total merhandise
exports during //0/(. %nd in //(0/1, it aounted for +&.1 per ent of the
ountry-s total merhandise exports. *he domesti demand for retail jewelry
2both branded and unbranded3 was estimated at 4s )'/ billion in //, with
diamond jewelry omprising 4s 5/ billion. 6y /+/, aording to a study by
78insey, the branded jewelry market alone would touh 4s +// billion mark.
*he sale of diamond jewelry in India has been inreasing at a rapid pae of 9
every year over the last two years. *he branded jewelry segment has shown an
astonishing trend, inreasing by /9 eah year.
In the reent years, jewelry market has witnessed tremendous hange. :ld,
traditional ornaments are giving way for branded designs and gold is replaed
by diamonds and preious stones. 6uying pattern is also hanging. ;eople are
more and more opting for branded jewelry than buying from a <family jeweler#.
*his hange has reated ample opportunity for the retailers. 7ulti0national
jewellery brands suh as *iffany, "artier, =ales and >arry ?inston, all are
showing interest in setting up their shops in India. Government#s deision to
allow +per ent @AI in single brand retail store also helped many foreignretailers to enter into India.
Aamas Bewelry, one of the world#s leading jewelry retailer entered India in //&
with a /0/ joint venture with Gitanjali Gems Ctd. Aamas opened its first retail
store in 6angalore in // and it inreased its presene by another seven
showrooms in short span of months. It intends to open another &/ showrooms
by //(0/1.
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Generally, Indian onsumer looks out for low0ost jewelry for daily wear and
prefers to buy from trustworthy jewelers. Aiamonds, preious stones whih give
elegant look not so expensive and hangeable after few years of wearing are
preferred by the working lass women. Dome of the prominent brands in the
market are %dora, A-Aamas, :ysterbay, Ae 6eers and "arbon. *here are about
&/ major players marketing about / brands in India.
8eeping Indian onsumers preferenes and tastes %rens Gold Douk
International Cimited has opened a speial shopping mall for branded jewelry.
*he ompany is planning to open about +// Gold Douks in India in near future.
Bewelry retailers are exploring the vast India Gold and jewelry market,
espeially brand jewelry in their own way of branding, suiting to the needs and
expetations of the onsumer. %mong Indian brands, for example, Eakshatra is
produt speifi, %smi is feeling speifi, and Glitterati is star oriented.
@or thousands of years, Indian jewellery has remained unhanged with design
ditated by regional and religious tradition. :ver the last few years, however, it
has begun to bubble with hange. Fonomi reform and the impat of television
have suddenly opened the doors and latest global trends have found favor.
@ashion is now an important new sales driver and jewellery manufaturers are
srambling to adjust their produt design to ater to this segment. % host of
variables0 the buying oasion, the wearing oasion, the eonomi strata of the
target segment and the effet of regional and religious influenes on all of them
are now being juggled to find the winning mix.
% reent study of youth in India, a segment onsisting of those under &0
onstituting a olossal ) per ent of Indian population with high disposable
inome and a propensity to spend, showed that young Indians today, despite
being a part of the global fraternity, would gladly hoose to stay onneted with
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their ultural roots. *his study makes it abundantly lear that onneting
tradition with trends is one of the keys to suess in the Indian market.
@ashion jewellery integrates many aspets from the tangibles to the intangiblesand is evolved of an environment from purpose, material, tehnique, prodution,
user, eonomis, to aesthetis, values, pereption, and time. Eo matter where
and when, a designer annot proeed without onsidering all the aspets
involved in turning a onept to an atual produt on the ounter. "hange is an
integral part of soiety and traditions need to be reinterpreted and restated with
subtle modifiations to suit the hanging times.
Bewellery industry hasn#t yet got around to really understanding the onsumer.
*he onept of design is still new to India, and it is not quite sure if serious,
systemati efforts are put in by Indian designers and ompanies to understand
what the Indian jewellery market is about, who the Indian onsumer is and what
she really wants in a piee of jewellery. *he jewellery institutes hold design
workshops for ompanies and they are often a omplete revelation to most of
the older generation who attend them. :ne an understand trends and design,
but you annot simply put the two together. % design is reated keeping in mind
ones prodution base, orporate identity marketing and pakaging efforts,
branding and the like.
CHANGE IN PERCEPTION:
In the globali$ed era, jewellery in India, like many other traditional produt
segments, is undergoing an astounding hange of pereption. ?hile it ontinues
to enjoy the position of being an enhaner of beauty and means of seurity, the
new0age onsumer pereives jewellery as a personal aessory that manifests
the wearer#s attitude, personality and lifestyle. It is imperative for jewellery
manufaturers to reogni$e this shift and adopt new, innovative approahes in
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the reation of jewellery. *his is what will enable them to establish an edge over
their ompetitors. :n the other hand, a glaring reality is that the traditional
jewellery setor onstitutes a signifiant hunk of the jewellery market . *his
jewellery in most instanes is handrafted and bought from the family jeweler.
*his segment has a strong soio0ultural bias, as the jewellery is bought for
auspiious oasions like weddings, engagements, and rituals. *he deision to
buy a piee of jewellery is more often a family deision than an individual
hoie. Bewellery in this segment is also a means of investment and future
seurity traditionally onstituting the wealth that a bride takes with her to her
new home.
*his offers the biggest opportunities to designers they need to understand that
traditional jewellery emphasi$es a deep $ymology and meaning soio0ultural,
religious and psyhologial0 that plaes it way beyond its sole funtion of
adornment. *here is an unimaginably vast opportunity for us to leverage this by
pakaging the ontext of tradition and ulture in designs that are universal and
ontemporary in their aestheti appeal. *his blending results in a produt that
stand out in today#s world where globali$ation has resulted in produts being
massively homogeni$ed and onsequently losing their individual, ultural and
regional identity.
% lot of ompanies are already experimenting with this blending onept, but it
is important that the resulting jewellery, while keeping in mind traditionalreverene and meaning, should not look very ethni. >ere branding and
pakaging play an important role in linking a new0look piee to its traditional
inspiration. *he suessful Eakshatra brand that launhed by Ae 6eers. @loral
designs have always existed in Indian ulture with different ommunities
interpreting them in a myriad different ways. 6ut the traditional jewellery was
heavy and worn only at weddings or for religious eremonies. 7ost of the timeit stayed in safety deposit lokers. Eakshatra suessfully reintrodued it by
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modifying it into light, everyday0wear designs. %ny sensitive designer today is
trying hard to establish a balane between tradition and trend. *he interplay of
traditional tehnique and international design trend is apparent in today#s
8undan 2traditional )0karat gem0set3 jewellery.
Dome designers have already inorporated the linear earring design, whih is a
global trend today, into their kundan0studded earrings. % lassi example of
mangal sutra, the traditional beaded neklae worn by women to signify their
married status, a soial symbol that has remained unhanged in design for
millennia. *he basi onept of blak and gold beads with a pendant the entre
remains the same, but one an now have interplay of blak, white and gold
beads. %s for the pendant, the beads were first replaed by diamonds but have
now made a omebak. *he variations in design are atually asked for today by
young brides of traditional and modern tastes. *here exists a traditional Indian
woman within every modern woman and jewellery has to appeal to both.
%part from the subtle hanges in the traditional jewellery market, most
designers observe that more and more people today are interested in horosopes,
hanting mantras, yoga and alternative therapies.*oday#s onsumers have a
strong interest in birthstones and the benefiial properties of gems.
"onsequently, spiritual and auspiious motifs have seen a great omebak in
fashion, inluding the jewellery segment. *hus the 4udraksha, Ganesha and
religious swastika motifs, the traditional nine0gem or Eavratna ombinationsand many other auspiious onepts have beome very popular in the Indian
jewellery market over the last ouple of years. Indian designers inorporate
these motifs into urrent fashion so harmoniously that they are as urrent as the
latest trends.
*he Indian D; nlike many other fashion markets in the world, whih are
more homogeneous in harater, the Indian market demonstrates a great element
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of duality, partiularly in traditional produt segments like jewellery. Indian
onsumers operate with two ontraditory mindsets when deiding to buy a
piee of jewellery. %t heart, we remain quite rooted in ulture and tradition and
ontinue to revere and value jewellery as a time0honored possession. :n the
other hand, the same onsumers exhibit ontemporary urban traits and see
trendy jewellery as an extension of their personality and lifestyles. *hey opt for
brands, thereby emphasi$ing their pereived worth aorded to a piee of
jewellery. *he jewellery buying pattern in the Indian market is also hanging.
@or instane, the Indian woman today is eonomially independent and does not
seek approval from her father or husband to buy jewellery as was the ase
earlier. Indian fashion does not surrender to the burdens of fall0winter or spring0
summer influenes. In India people stik to their personal tastes and do not
kowtow to the imposed opinion. It ould also be beause most of them annot
afford the routine makeover of the wardrobe another interesting feature is that
the Indian onsumer looks for the longevity in a produt. >ene the produt
supersedes the season. %lso, Indians might see tough ompetition from other luxury items like high0end mobile phones, travel, and the like, Indians have a
rih ulture and heritage, whih ontinue to respet and follow despite hanging
modern attitudes. Bewellery is far too integrated into lifestyles to get affeted in
one generation. *his ould all hange some two generations down. *he good
part is that they still have the luxury of time to work on it, unlike the west.
It is felt during a reessionH jewellery omes in last and goes out first. ?hile
buying, jewellery is last on the list. %lthough mobile phones are a luxury item,
they have beome a neessity. Eonetheless, the Indian market is getting stronger
by the dayH it will see a big hange in the tastes of the Indian onsumer within
three or four years. %nd while many point to the growing use of diamonds in
Indian jewellery, omplete makeover is still a way off. 4ural India still has a
mindset for plain gold jewellery, as it is easily traded as ompared to diamonds
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2meaning investment is still a big jewellery purhase driver3. %nd rural India
aounts for a major hunk of jewellery onsumption. *here are several trends
running parallel in the Indian market as far as the design life yle goes. ?hile
in the traditional jewellery market, hange is gradual, spread over years, in the
urban segment, it is quik and ongoing. 7oreover, in preious jewellery, the
evolution is muh slower and most often, jewellery in the high0end segment
tends to have a long0term appeal. >owever in the fashion segment, it is very
important to tie it to trends, as the prie points for these are muh more
affordable, and this is where the onsumer is able to experiment.
*he produt life yle in India is muh longer beause of the high value osts
involved. :ther lifestyle produts undergo four fashion yles a year, but
jewellery annot follow this pattern. :nly between one and three per ent an
afford to buy so frequently. *rends in jewellery hange at muh lower rate as
ompared to the rest of the luxury market due to the high osts involved.
Designing To Follow Fashion:
?ith so muh hange and so many variables to onsider, most jewellery
designers agree that it is vital to understand the holisti lifestyle praties of the
ustomer, visit jewellery stores aross the ountry, national and international
fairs, fashion weeks and travel to observe what people wear in terms of their
garments and aessories. %ll these provide valuable inputs to a designer. It#s
important to wath the fashion segment for the olors, styling and detailing on
the garments. :ne need to study the neklines that are in vogue to deide the
profiles of the nek0 wear that you are going to design. % good example of
fashion trends affeting jewellery design was the layered look. % few seasons
bak, all the big design houses were suddenly wrapping up their models in
many layers of different materials. *his onept took off in the jewellery
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industry like a rage with designs featuring many different beaded neklaes and
bangles at the same time.
% designer has to also keep in mind the wear ability of the piee while beingonsious of trends. Indians have traditionally preferred emeralds and rubies for
the olor in their jewellery but that of late, a variety of olors and types are in
vogue.
*oday Indians want topa$, tourmaline and even synthetis if they give them the
look they want. 6ut even after fatoring all the variables, most designers will
tell you that there is no suh thing as a single, homogenous Indian jewellery
market. Geographi loation and ethni differenes break it up into distintly
different markets with differing tastes. ?hen one designs for the Indian market,
one has to definitely keep these aspets in mind. 6ut, the ontemporary
jewellery segment responds losely to the hanges in the global market and the
onsumer base is not wholly segmented by geographi loation or ethni
groupings. Internationally, ompanies and marketers are segmenting onsumers
in the ontext of their attitudes and values, tastes and preferenes, lifestyles and
living patterns. >owever, there is a speifi, identifiable ustomer base in ities
like Aelhi, 7umbai, >yderabad and 6angalore, that is more willing to
experiment with new designs and onepts.
Aelhi definitely is very quik to ath on to trends whih are bold and visible.
6ombay is more style oriented where people are more aware of what works for
them individually and whether it suits their personalities. *he south tends to stay
with a more lassi approah. In "hennai, gems are a no0no. *hough jewellery
is forever evolving, the underlying essene of a partiular region is always
visible in it. Cook at a bride from any partiular region of India. Fven the most
modern north Indian bride will shun international brands on her big day and opt
for ulturally and traditionally rih embellishments like 8undan jewellery, while
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a south Indian bride would go for temple jewellery. Indians attah a
onsiderable amount of emotional value to jewellery though this does not affet
the design onepts of fashion jewellery. *here is a very small segment
emerging of highly fashion0 onsious individuals who are ready to experiment
with tradition. *here is also another segment of people who are artistially
inlined, and prefer handrafted or artistially appealing jewellery. %nd then
there are olletors who go for ustomi$ed piees that are unique in design,
material, raftsmanship or tehnique. @ashion designers empathi$e with
this drift and thus are exploring more and more possibilities in terms of
integrating regional tastes with the fashion ditates of today. >ot, Fvolving
7arket India is hot today, and tastes are moving from loal to global. *he
market for designed goods is fast evolving. @rom the fashion weeks beoming
popular in India, to Indian design stores and Indian designer labels beoming
fashion ions globally, India on the path to beoming a design entre for the
world.
@ive or ten years ago, one ould learly distinguish between a western and an
Indian design. 6ut today, the distintion is blurring. ;lus, the idea of fusion has
brought the two worlds together. Indian designs are readily aepted in the west
and vie versa.
Aesigners and onsumers both are more open to experimentation and there are a
lot of new exiting materials being used today. Italian rubber, amalgamation of
preious and non0preious, leather, wood, suede, fabri, plastis and other
unusual ombinations are ommonly seen. *he harateristis of ostume
jewellery have penetrated the mainstream preious jewellery market and in the
large ities, the jeweler does not now hesitate to display these as his unique
sales proposition. %lso, value addition is ahieved with new stone settings and
uts, surfae finishes and textures on metals and ross ultural forms. In about
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five to ten years, the Indian market will have an identity of its own espeially
beause of globali$ation.
*he last two years have shown a shift from a preferene for diamonds to oloredstones, while white gold is being aepted by middle and higher0end onsumers.
SOME FACTS ABOUT GEMS AND JEWEER!
?hen 6ritain-s ;rine "harles returned home after his reent trip to India, he
arried with him a glittering Eakshatra pendant presented by the Aiamond
*rading "ompany 2A*"3. % gift fit for a prine, and fitting gift for him to
reeive in a ountry where the rok is fast beoming the ultimate style
statement.
@rom Dushmita Den flashing an eleven0arat stone on her finger, to elegant
dewdrops for boardroom belles and nine0to0five fashion for working women,
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Indian women have taken 7ae ?est-s wise words to heart JEo gold0digging
for me, I take diamondsK ?e may be off the gold standard somedayKJ
Aiamonds are not restrited to the eleb set anymore, nor are they a one0in0a0
lifetime indulgene.
?hether da$$ling white or sparkling hampagne, they are the stone for all
oasionsLfrom offie parties to page three dos. "ompetition is intensifying in
the M1/0billion global diamond jewellery market, as rising wealth in %sia buoys
demand. %nd India will easily top that growth, beause jewellery has always
avowedly been a part of the ountry-s tradition and lifestyle.
*his year, demand for diamond jewellery in India will have grown )/ per ent,
on the bak of a &/ per ent growth in //. Aiamonds aount for nearly 1/
per ent of the 4s (/,///0rore gem and jewellery industry, in value terms the
highest share in any ountry. :ver a million people are employed in this
business aross Gujarat and 7aharashtra. Fxports went up + per ent last year.*hese are fats that allow A*", the marketing arm of the Ae 6eers group,
whih supplies half of the rough diamonds sold worldwide as well as half of all
diamonds sold in India, to set its sights and hopes even higher. In volume terms,
India is now A*"-s third largest market, aounting for seven per ent of total
business after the D 2/ per ent3 and Bapan 2+& per ent3. 6ut in terms of
growth, India heads the A*" hart.Do what-s making diamonds overtake gold as the Indian woman-s best friendN
"ompared to mass0produed gold jewellery, eah stone an be unique,
depending upon the utting. ?hat lends a speial touh to the uniqueness is that
every stone is between a billion and three billion years old. 6et you didn-t know
thatK
%s a result, the industry is witnessing a surge in marketing and branding.
Gitanjali Gems, for instane, whih reently mopped up 4s &// rore0odd
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through a publi issue, has 5 per ent of sales revenues oming from
diamonds, ompared to + per ent from gold jewellery. *hat is getting
inreasingly visible in the profitline tooLmore than per ent of its profits
ome from diamonds.
6oth style and quality are important when seleting a diamond. "ontrary to
pereption, it-s the young girls spending their parents- money who go for
omplete sets, while women buyers prefer individual piees. *he largest volume
of purhase ours in the 4s +0& lakh range.
Gitanjali, one of A*"-s sightholders 2experts who selet and purhase rough
diamonds3, owns reputed brands like %smi, Gili, Dangini, and A-damas, apart
from the new, very premium Vitoria-s Aesire. A*" is also developing the
Eakshatra brand, worth 4s +// rore as the umbrella brand, along with :rra and
%risia. "herie *andon Daldanha, the ompany-s marketing diretor for India,
believes that with inreasing disposable inome, and a growing trend away from
unbranded, heavy jewellery towards modern, light yet expensive stuff, sky is the
limit for the industry. A*" spends about 4s &/ rore a year on brand promotion.*he idea is to reate a high aspirational image, where it has been largely
suessful.
Days 7ehul "hoksi, hairman, Gitanjali group J*he runaway demand for
diamonds is a result of three fators strong ommuniations, fashion appeal and
onfidene in their value. J %nd this has happened despite diamond pries rising by around + to / per ent every year. %ffordability, rather than prie, is a
fator. %nd diamonds have beome more affordable than before, thanks mainly
to a revolution in designing, branding and marketing. ?ith gold pries $ooming
for the past one year, diamond jewellery has beome Value @or 7oneyK
%s in international markets, where '/ per ent of the jewellery is sold as a
fashion aessory for everyday wear, and not as an investment, branded
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jewellery is now being positioned in India as a lifestyle and personality
statement. 6randing also attahes faith to the produt. %ll branded jewellery
omes with ertifiation, whih is useful if you-re buying it as an investment or
are interested in reselling or exhanging it at a later stage.
*he inreasing market presene of diamond ompanies is mirrored in their stok
pries as well as the ommodity markets. *he rising number of millionaires in
India and the surge in onsumption of luxury items will only make these roks
shine brighter than ever.
India and diamonds are the best known ombination throughout the diamond
industry. *hough India was known to have diamond mines many enturies ago 0
the fabulous 8ohinoor is an Indian diamond 0 it has virtually no mines today.
>owever, India has ontinued to maintain its tradition of diamond utting and
thousands of people are involved in this skilled oupation.
*oday, with its ut and polished diamonds, olored gemstones, gold jewellery,
pearls, non0gold jewellery and fashion jewellery, India aounts for almost /9
of the international market. *he gems and jewellery setor ontributes nearly
9 of the world#s net exports of ut and polished diamonds in value, '/9 in
terms of piees and 5/9 in terms of arats. Fvery ++ of + diamonds sold
around the globe are proessed in India, irrespetive of where these are mined.
?ith the right poliy and regulatory framework, India ould establish itself as a brand in the international Gems O Bewellery market, inrease employment and
reate new breed of entrepreneurship.
%part from being the world#s largest diamond proessing 2utting and polishing3
ountry with an 5/ per ent share in world market India#s favorable trade
poliies have made India the hub for gems and jewellery. *he burgeoning retail
industry in India is instrumental in innovatively marketing and branding
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diamonds and traditional jewellery, making inroads in this setor and
ontributing to the nation#s eonomy.
*he Indian onsumer has lately beome the fous of every retailer-s eye, proof being the international brands floking in to set up franhises in India.
Fonomi boom oupled with retail sales explosion has made a smooth pathway
for all those who understand the art of retail in India. Aue to the Fonomi
boom in the ountry, India is emerging as a very big "onsumer 7arket for
jewellery and other luxury produts and offering a very lurative opportunity for
major brands to establish presene in the Indian market. *he booming domesti
market along with export advantage of the industry and the Government-s
deision to allow foreign diret investment of up to + per ent in single brand
retail stores has attrated a large number of players to the setor.
;layers like 4eliane, pantaloons, ?al07art, et have already set up shops in
India. *he 4eliane group plans to spend M billion in new retail formats
inluding malls and ombined servie and retail formats along the evolving
Indian highway system. Global behemoth ?al07art has also offiially entered
India with a strategi tie0up with the 6harti group. ?al07art will provide the
bak0end servies suh as souring and supply0hain management for the 6harti
group#s planned retail formats aross the ountry as well as an initiative to
supply the ountless small, onveniene stores that dot the ountryside all
aross India0 reahing out diretly to the onsumer.
6randed jewellery is the new mantra in the market, having rapidly aquired a
nihe over the past few years. Inreasing purhasing power and disposable
inomes of India#s middle lass has resulted in onsumption growth of this
industry by about ++ per ent in the five0year period preeding //(0/1. %dd to
that the insatiable Indian raving for gems and jewellery, and the demand will
skyroket to DM / billion by /+/ and DM &/ billion in /+, aording to
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industry experts. @oused marketing reating awareness and demand for the
produts, innovative produt range reating exitement and expanding the
ategory as well as transpareny and adherene to best praties will help build
onsumer onfidene.
*he surprising thing about retail investment is that about / per ent of retail
effort P in a planned manner P is targeted at rural areas, whih is defined as
towns with a population of less than a million. India has seen a signifiant
growth in disposable inomes as a result of the eonomi growth that it has been
enjoying. *his inome is spread in the rural areas also. %ording to the *ata
Dtatistial :utline of India P //0/(, around (/ per ent of the rural inome is
from north and east. Aepending on the si$e of the market, retailers work with
multiple formats P urrently they are partnering with loal jewellers and these
jewellers retail their brands, ommonly known as the <shop in shop#. *hese
stores would arry a merhandise mix and are in the range from (//0 to +,///
square feet.
4etailers are also looking at mobile store onepts and thinking of innovative
ways to onnet to the onsumer. 6rand building, and reating brand identity is
the fous of every retailer in India at present. Indian retailers see a huge
jewellery onsumer market in India but there is a slight speulation that they
might soon fae stiff ompetition from within as well as from international
brands who are rapidly setting up hain stores.
India onsumes nearly 5// tonnes of gold aounting for about / per ent of
the world gold onsumption. :ut of whih nearly (// tonnes goes into making
jewellery. %ording to *he ?orld Gold "ounil 2?G"3 total gold supply in the
seond quarter this year stood 2Q@R/53 at 5)/ tonnes, whereas the demand
was ')) tonnes. % study by 8;7G reveals the Indian jewellery market to be
DM +&. billion in fisal //(0/1, aounting for 5.& per ent of world
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jewellery sales. >owever the export of diamond0studded jewellery from India is
merely ) per ent of the total export of gems and jewellery worth DM +5./(
billion. Dine the demand of diamond0studded jewellery among Indian
onsumers has risen sharply, the industry should fous on the domesti market.
Aiamantaires, in Durat-s DM ++.' billion diamond industry, are eyeing
jewellery manufaturing in a major way, after A*" has deided to prune supply
of rough diamonds to India. If India beomes a manufaturing hub for jewellery
as well as a onsumption market it will just prove India#s strength in both
setors.
*he government has offered some onession to the industry by lowering
import duty on platinum from DM +&.5 per +/ gms to DM ./& P exempting
rough oloured preious gems stones from ustoms duty at the first stage itself,
instead of laiming reimbursements later. 4ough, semi0preious stones are
already exempt, a move aimed at further promoting the exports of studded
jewellery and platinum jewellery. Auty0free import of onsumable metals other
than gold and platinum up to per ent of f.o.b. value of exports and duty0free
import entitlement for rejeted jewellery up to per ent of f.o.b. value of
exports. *here is inreased duty0free import of ommerial samples of jewellery
to DM ./ and import of gold of +5 arat and above under the replenishment
sheme.
*he Indian retail sene is set to flourish and there is no looking bak for thosewho know how to sell jewellery to an Indian woman, sine jewellery is a part of
Indian tradition and ustoms.
Gol" In#o$%a&ion
Gold is a highly sought0after preious metal in the world. :ne of the oldest
preious metal in the history of mankind, it had been used as money, as a store
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of value, in jewellery, in sulpture, in mediine, in eletronis and for
ornamentation. Gold does not tarnish, rust or orrode. Aue to its wonderful
qualities and its magnifient luster, gold is onsidered the most important metal
in jewellery making.
*he purity of gold is measured in terms of karats. ;ure gold is designated as )
karat. % karat is the perent of pure gold in the alloy. :ne an determine the
perentage of pure gold in any gold piee by dividing the karat by ) 2e.g., +5
karat gold +5S) T /.1/ T 19 pure gold3.
%s pure gold is soft, it is frequently mixed or alloyed with other metals in order
to make the gold harder to be used for jewellery. %lso mixing of gold with other
metals affets the olour. @or example, gold must be alloyed with different
metals suh as silver, nikel, palladium, opper, bron$e, aluminium in order to
get different shades of gold i.e. yellow gold, white gold, green gold.
*he karat sale is used for measuring the proportion of gold in jewellery.
%ordingly, )karat denotes pure gold. +5 karat gold is 1 9 gold and 9
alloy, and so forth.
In India, +5 karat and karat are the most popular forms of gold jewellery. *he
+5 karat is popular beause of its rih olour and durability.
Gold alloys an also affet the olour of gold. *he following list inludes the
most ommon olours of gold alloys and the metals used for produing them
Colo$ o# Gol" A""i&ional Me&als Use"
'a$a& Pe$(en&age P)$e Gol" Fineness *E)$o+ean Ma$,ing-
) +// ''' '+.(1 '+1 +5 1.// 1/ +) 5.&/ 5& +/ )+.(1 )+1 ' &1./ &1
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Rellow Gold "opper, Dilver
?hite Gold Eikel, =in, "opper
Green Gold Dilver, =in, "opper
4ose Gold "opper, Dilver
Gol" Jewelle$. Ma$,e& in In"ia
6efore the liberali$ation of the Indian eonomy in +''+, only the 7inerals and
7etals *rading "orporation of India 277*"3 and the Dtate 6ank of India 2D6I3
were allowed to import gold. *he abolition of the Gold "ontrol %t in +'',
allowed large export houses to import gold freely.
Fxporters in export proessing $ones were allowed to sell +/ perent of their
produe in the domesti market. In +''&, gold and diamond mining were
opened up for private investors and foreign investors were allowed to own half
the equity in mining ventures. In +''1, overseas banks and bullion supplierswere also allowed to import gold into India. *hese measures led to the entry of
foreign players like Ae6eers, *iffany and "artiers into the Indian market.
In the +''/s, the number of retail jewellery outlets in India inreased greatly
due to the abolition of the Gold "ontrol %t. *his led to a highly fragmented
and unorgani$ed jewellery market with an estimated +//,/// workshops
supplying over &/,/// retailers, mostly family0owned, single shop operations.
In //+, India had the highest demand for gold in the worldH 5 tons were
onsumed a year, '9 of whih was used for jewellery. *he bulk of the
jewellery purhased in India was designed in the traditional Indian style.
Bewellery was fabriated mainly in +5, and ) arat Gold as >allmarking
was not very ommon in India under aratege was prevalent. %ording to a
survey done by a 6ureau of Indian Dtandard 26ID3, most Gold jewellery
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advertised in India as 0 arat was of a lesser quality. :ver 5/9 of the jewelers
sold Gold jewellery ranging from +&. arat to +50 arats as 0 arat Gold
jewellery.
) "arat +// perent pure gold
"arat '+.(( perent pure gold
/ "arat 5&.&& perent pure gold
+5 "arat 1 perent pure gold
"arat 5.&& perent pure gold
+ "arat ).+(( perent pure gold
*he late +''/s saw a number of branded jewellery players entering the Indianmarket. *itan sold Gold jewellery under the brand name *anishq, while
Gitanjali jewels, a 7umbai based jewellery exporter, sold +50 arat Gold
jewellery under the brand Gili. Gitanjali jewels also started selling )0 arat
Gold jewellery in assoiation with a *hai ompany, ;randa. Du0 4aj 2India3 Ctd.
launhed its olletion of Aiamond and 0 arat Gold jewellery in +''1.
*he 7umbai based group, 6eautiful, whih marketed *iffany range of produts
in India, launhed its own range of studded +50 arat jewellery, Aagina. "artiers
entered India in +''1 in a franhise agreement with 4avissant. :ther players
who entered the Indian branded Gold jewellery market during the +''/s and
///0/+ inluded Intergold Gem Ctd. :y$terbay, "arbon and *ribhovandas
6himji =averi 2*6=3.
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BRANDED JEWEER! FIRMS
GITANJAI:
Gitanjali Group a /// rores ompany, strategially positioning itself as the
leading diamond studded jewellery0manufaturing ompany, today has one of
the largest fully integrated diamond and jewellery manufaturing plants in the
ountry. *he Group, whih has been a pioneer in the branded jewellery industry,
has always been at the threshold of boosting the prodution of quality jewellery,
whih has obliquely proved to be an exellent, branding and marketing strategy
baked by a formidable retailing network 0 all ensuring the group an enviable
advantage in the jewellery arena. *he Gitanjali Group is engaged in the business
of souring rough diamonds, its manufature, import and export of diamonds,
manufature of plain and diamond studded gold and platinum jewellery and its
marketing and domesti retailing. %s Bewellery exports form one of the largest
ontributors to the foreign exhequers, the jewellery major Gitanjali, is one of
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IndiaUWs high0end ontributors to the foreign exhequer as well as a major
player in the domesti market.
Gitanjali has four deades of experiene, being one of the earliest diamondhouses in India. >aving reeived over / Eational and "ounil awards from the
7inistry of "ommere for outstanding exports, it is today one of the largest
diamond exporting ompanies in India. ;resently the Gitanjali Group has highly
moderni$ed diamond utting and polishing failities at loations in India and
globally diversified manufaturing operations in 6angkok, Vietnam and "hina
and a marketing network spread aross Furope, >ong 8ong, D% and Bapan.
*he very basis of their existene is to suessfully develop, produe and sell
high0quality jewellery brands worldwide O helps the ustomers in getting the
maximum Value for 7oney in the proess.
In +''), Gili Bewellery was established as a distint brand by Gitanjali Bewels,
soon after the abolition of the Gold "ontrol %t by the Indian government. Gili
offered a wide range of +50arat plain gold and diamond0studded jewellery,
designed for the ontemporary Indian woman. *he designs ombined both the
Indian and western styles and motifs. ?ith sales of 4s./.+) billion for the year
///0/+, Gili had a /./& perent share of the )// billion jewellery market in
India and a +.) perent share of the branded jewellery market.
Gili distributed its jewellery pried between 4s. // and 4s. )/,/// through
lifestyle and department stores aross the ountry to inrease aessibility
among its target segment, the + to &/ age group. *he ompany-s produts were
also made available through a mail0order atalogue. In +''1, Gili launhed a
olletion of traditional Indian ornaments made of +50arat gold. In +''', the
Gili Gold range was introdued. *his range inluded rings, pendants, earrings,
neklaes and bangles made of )0arat gold. %ll Gili produts ame with a
guarantee of diamond and gold quality. ?hen researh onduted in @ebruary
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/// showed that there was a big gap between the 4s. +/// and 4s. +//// prie
segment and keeping in view the teenage population, and the kind of poket
money they had, Gili brought out a olletion targeting teens.
In ///, Gili launhed its -diamond heart olletion- targeted at teenagers and
pried between 4s // and 4s.//. *he olletion was promoted at ollege
ampuses with banners, pamphlets and a few advertisements targeted at teens.
Gili soon reali$ed that just pushing its produt was not enoughH it also had to
ustomi$e its produts for speial oasions. @ollowing this, it launhed a
Aiamond >eart "olletion speially designed for Valentine-s Aay. *his
olletion onsisting of tiny, heart0shaped diamond jewellery was well reeived
by teens 24efer Fxhibit VI3. Dpeial pakaging, athy advertising and
extensive press overage ontributed to the suess of the olletion. Gili also
made speial promotional offers during festive seasons like "hristmas and
Aiwali.
>aving aptured the low prie point market of 4s./// to 4s.+/, ///, in ///,
the ompany foused on penetrating the premium market of ustomi$ed
jewellery. @or this, Gitanjali jewels opened a jewellery salon, Gianti, to provide
ustomi$ed jewellery to lients in India.
GITANJAI RETAI BUSINESS
• Gitanjali has strong retail presene in the world#s largest markets for
jewellery. 4etail business is a major "ontributor in Gitanjali#s revenue.
Gitanjali has over /// plus retail outlet aross India and in the proess
of expansion in tier II and III ities to ater to new segment of the
ustomer.
• D% is a largest jewellery onsuming ountry and )9 of worldwide
diamond jewellery sales are made in the nited Dtates. In @R //10/5,
Gitanjali made a strategi aquisition in D%, inluding Damuels and
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4ogers, and now has about +&1 stores in "entre and aross D%, being
expanded to // stores in the near future.
• Damuels and 4ogers of Gitanjali are the 5th largest branded jewellery
retail hain in D.
• Gitanjali#s integrated supply hain business model has given an
advantage to survive and post profit despite of D reession.
• Gitanjali retail business has spread through all hannels and in all
geographies, aross all the market segments
• Eet ;rofit has gone up beause of shift in market from wholesale to retail.
MAR'ETING STRATEG!
• Gitanjali#s strategy is to inrease the market share of various brands and
its positioning in the market. Dtrategy is to generate demand for branded
diamond jewellery in the future
• Gitanjali has also aquired a 1(9 stake in Dalasar 4etail and will roll out
multi0format retail stores under the #7aya# brand. *he Dalasar stake gives
Gitanjali Cifestyle +/ multi0storey stores with //,/// square feet of
retail spae in Eorthern India.
• @lagship produt brands of the ompany are able to onvert themselves
into retail brands.
• *he group has introdued many promising brands to its bouquet. *he new
olletion inludes ?orld of Dolitaire, ?orld of Dilver, 7F Dolitaire,
7aya, Gitanjali 7en$, 7aya 6ridal, 6e$el and many more.
INDUSTR!
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• :verall Gold and jewellery industry is estimated to be about DA &
billion, out of whih +0+9 is onstituted by diamond jewellery market.
i.e. DA ) billion, +/9 of whih is branded jewellery market aounts
for DA // million
• :verall Industry is growing at the rate of +0+59 and where as share of
diamond jewellery is growing at +50/9
• :ut of +/ leading gems and jewellery brands in India ( of them are under
the Gitanjali umbrella. Dhare of branded diamond jewellery in India is
growing by 0&/9 and therefore, share of Gitanjali growing at that pae.
• In modern retail, Gitanjali holds (01/9 market share
• *hese industry dynamis has ompounding effet on the growth of the
Gitanjali Gems.
COMPAN! PROFIE
Gitanjali Gems Ctd is one of largest integrated diamond and jewellery manufaturers
and retailers in India. *he ompany is engaged in souring of rough diamonds from
primary and seondary soure suppliers in the international market, utting and
polishing the rough diamonds for export, manufaturing and selling of diamonds and
other branded and unbranded jewellery. *hey also manufaturers and sell diamond
and other jewellery through the retail outlets in India. *he ompany sells their branded
jewellery under the name, Eakshatra, %smi, Gili and A-Aamas. *hey are having two
modern manufaturing failities loated at 6orivali in 7umbai and at the Dpeial
Fonomi =one in Durat. @urther, the ompany has two modern jewellery
manufaturing failities at 7IA" at %ndheri, 7umbai and a faility at the Dantaru$
Fletroni Fxport ;roessing =one at %ndheri, 7umbai. Gitanjali Gems was
inorporated in the year +'5(.*he ompany was onverted into a limited ompany
Deptember ///. @rom being primarily involved in the utting, polishing and
proessing of diamonds, Gitanjali emerged as one of the few organi$ed and integrated
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players in the Indian gem and jewellery industry. In the year +''/, the ompany
ommened prodution of diamond studded and other jewellery at their manufaturing
faility at the D;= at %ndheri, 7umbai. In the year +''), they ommened their retail
sales though their assoiate ompany Gili India Ctd. Auring the year //0/(, three
groups of ompanies namely Gemplus Bewellery India Ctd, ;rism Bewellery ;vt Ctd
and Giantti Bewels ;vt Ctd were merged with the ompany. ;ursuant to the sheme of
amalgamation, "4I% Bewellery ;vt Ctd beame a subsidiary of the ompany with
effet from %pril +, // and ANdamas Bewellery 2India3 ;vt Ctd beame a joint
venture ompany. Gitanjali Fxports "orporation Ctd beame a subsidiary on
Deptember /, // subsequent to inrease in share holding to +9 by the ompany
and in :tober //, >yderabad Gems DF= Ctd beame a wholly owned subsidiary of
the ompany. In 7arh //(, the ompany formed a joint venture ompany with
Danghavi Fxports namely, Dpetrum Bewellery ;vt Ctd for manufaturing and
marketing the Danghini brand of Aiamond Bewellery. In 7ay //(, Dhubalavanyaa
Bewel "rafts ;vt Ctd beame a subsidiary of the ompany and in Buly //(, Aesire
Cifestyle ;vt Ctd has beome a wholly owned subsidiary of the ompany. In Buly
//(, the ompany entered into a shareholder-s agreement with 7odern India Ctd to
form a joint venture by way of subsription to equal number of Fquity Dhares of
7odali Aistributors ;vt Ctd. Auring the year //(0/1, the ompany inreased their
stake in Gili India Ctd, thereby the ompany beame a subsidiary ompany. *he
ompany through their subsidiary @antasy Aiamond "uts ;vt Ctd, along with Aiadem
4anka International ;vt Ctd, formed a joint venture ompany Aiadem 4anka Aesire
Cifestyle ;vt Ctd, engaged in the business of gold and diamond jewellery. Auring the
same year, the ompany inorporated a wholly owned subsidiary ompany namely
Gitanjali Infrateh Ctd. %lso, they inorporated Gitanjali Ventures A7" in Aubai for
trading Aiamonds, preious stones, diamonds jewellery and perals. *he ompany
aquired the majority stake in Damuels Bewelers In a D based ompany engaged in
the business of merhandising jewellery and also purhased a majority interest in *ri0
Dtar ?orldwide CC". Auring the year //10/5, the ompany formed wholly owned
subsidiaries namely 4aigad Gems DF= Ctd, %urangabad DF= Ctd, Eanded DF= Ctd,
?est 6engal DF= Ctd, Eashik 7ulti Dervies DF= Ctd and Eagpur 7ulti0;roduts
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DF= Ctd as Dpeial ;urpose Vehile for development and exeution of the projet. *he
ompany has ompleted the proess of aquisition of required land measuring +/./&
htrs at ;anvel, 4aigad and in the proess of aquiring required land in respet of their
other DF= projets at %urangabad, Eanded, Eashik and Eagpur. *hey also expanded
their diamond and jewellery manufaturing failities by setting up state0of0%rt
7odern fatory in >yderabad DF= for diamond proessing. In %pril +, //1 ANdamas
Bewellery 2India3 ;vt Ctd, a joint venture ompany beame a subsidiary ompany and
in 7ay //1, the ompany set up a wholly owned subsidiary ompany, Gitanjali
Cifestyle Ctd to build and promote luxury malls aross the ountry. In Deptember
//1, Ivida *ehnologies ;vt Ctd was inorporated as a wholly owned subsidiary
ompany and thus they forayed into the software, tehnology and teleom business. In
Eovember //1, the ompany aquired +//9 stake in 4ogers Ctd In, a D based
ompany and also aquired the 6rand %sset -Eakshartra- through one of their wholly
subsidiary Gitanjali Ventures A7"". *he ompany signed a joint venture agreement
with Eetherlands based %47: Eetherlands @inane 6V to form a BV ompany
7orelleto India ;vt Ctd, to arry on their business of manufaturing, assembling,
importing, exporting et. *he ompany inreased their stake in 6rightest "irle
Bewellery ;vt Ctd and thus made 6"B;C beame a wholly owned subsidiary and
aquired 4enaissane 4etail Venture ;vt Ctd through their wholly owned subsidiary
Gitanjali Cifestyle Ctd. %lso, they signed a 7o with 7ariella 6urani @ashion Group
of Italy through their wholly owned subsidiary Gitanjali Cifestyle Ctd to form a Boint
Venture in India. In 7arh //5, 7ohar Bewels Ctd was inorporated as a wholly
owned subsidiary for arrying on the business of providing safe deposit vault,
displaying and export of Gold Bewellery. *he ompany aquired *rinty ?ath
"ompany ;vt Ctd, through their wholly owned subsidiary Gitanjali Cife style Ctd
engaged in the business of sale of wathes under their registered premium brand Iris.
%lso, they aquired +//9 shares of 7odali Bewels ;vt Ctd, earlier a joint venture
ompany. In 7ay //5, the ompany formed 8olkata %xis 7all Ctd through their
wholly owned subsidiary Gitanjali Infrateh Ctd. In Bune //5, the ompany made
Fureka @instok ;vt Ctd and Aeent Deurities O @inane ;vt Ctd as wholly owned
subsidiaries whih were earlier promoter group ompanies. %lso, the ompany
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aquired +//9 stake in 6 Vijay 4etail Ventures ;vt Ctd through their wholly owned
subsidiary, Gitanjali Cifestyle Ctd. In :tober //5, the ompany inreased their stake
in Gitanjali Fxports "orporation Ctd to +//9 and thereby made the ompany a wholly
owned subsidiary ompany
BOARD OF DIRECTORS
M$/ Meh)l C/ Cho,si"hairman of the 6oard
M$/ Nehal Mo"i Eon Fxeutive Airetor
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affordable pries!. *he first jewellery brand that brought diamond jewellery
within the reah of masses.
*he "ompany was originally inorporated on %ugust +, +'5( as a private
limited ompany and beame a deemed publi limited ompany pursuant to
Detion )&% of the "ompanies %t, +'(, as amended, with effet from %ugust
, +''+. *he "ompany was subsequently onverted into Gitanjali Gems
Cimited, a publi limited ompany pursuant to a ertifiate of hange of name
dated Aeember 5, +'').
Collections
GILI
P$o")(&s: Aiamond, 4ings, ;endants, 6raelets, Farrings, 6angles, *wo0
*ones, "olor Dtones, Dets.
Colle(&ions: Valentine "ommitment, "hinese =odia, Dign =odia, Gili *eens,
"orporate Gifts, ;endants, %gni, Aiamond >eart, ;riness and @orever
"olletion
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Gili has a unique an" &i%eless (olle(&ion o# +$e(io)s 0ewelle$.. ?hat-s more,
these fabulous piees are available at really affordable pries, with the Gili
ertifiate of authentiity
In 2334 Gili in&$o")(e" Ri5aa6, a olletion of ethni Indian jewellery. *he
brand has also ome out with a range of 789(a$a& 0ewelle$. with a guaranteed .
'' fineness under the launh name Gili Gold. Gili has also launhed a range of
"ia%on" (l)s&e$s )n"e$ &he na%e Agni set in yellow and white gold. It has to
its redit added Gili plus, a premium range of diamond0studded 0ewelle$.
+$i(e" ao5e Rs 7;< ;;;/
Brand Ambassador
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Bipasha Basu gives brand glitter to Gili. Bipasha Basu ;ose for Gili Bewels P
>uge Dan going by the promos of ‘Bachna Ae Haseeno’
6ipasha 6asu, a leading Indian film atress has been signed on by Gitanjali
Group as the new brand ambassador for its diamond jewellery retail brand Gili.
*he atress will be the new fae for an undislosed time frame.
*he Gili brand has been one of the very first diamond jewellery brands in India.
It has grown over the years into // outlets aross &/ ities in the ountry,
besides being retailed through shop0in0shop formats.
Gili has been noted for its unique retailing formats, by setting up its stores at
sites like airports in elite areas. Its exlusive showrooms are alled -Gili ?orld-.
7ehul "hoksi, "hairman, Gitanjali Group and Eakshatra, said, “In our effort to
find the right brand ambassador for Gili, a brand of mass appeal, we have
stumbled upon 6ipasha 6asu to endorse her alluring personality on its produts,
whih is a rhapsody of the traditional and modern. Eot only were weenthusiasti about the brand fit, but we also feel that 6ipasha lends a refreshing
look to the brand. ?e are exited about having her on board as the new fae for
Gili.!
Services
A#&e$ Sales se$5i(es &o $e&ain &he ()s&o%e$s: Giliwants its "ustomers to be delighted every time they shop. :asionally though,
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there are situations where ustomer would like to return the produt or exhange
it with a new one. nderstanding this need of onsumer Gili introdued
E=(hange Poli(.> B). Ba(, Poli(. at any point of time O anywhere in India.
It helps Gili to retain their ustomers O forms a good relationH also ustomers
beome 6rand Coyal beause of suh servies.
Gili was the first one to ome up with 6randed Aiamond Bewellery in India, Gili
is not the Eo.+ 6randH but Gili is one of the *op Aiamond Bewellery 6rands.
"urrent events 0 Gili Caunhes the ->eart of Gold- and Gili *urns +/
Maret Shares
In @ebruary this year, GGC raised around 4s.&&/ r. through an I;: of 4s.+.1/r. shares at 4s.+' per share to invest in its subsidiariesS assoiate ompanies
expand its manufaturing apaities and penetrate the retail market besides the
development of the DF= near >yderabad. @or @R/(, it reorded /9 rise in
top0line to 4s.+(+ r. but its net profit $oomed by )/9 to 4s.)5 r. on the
bak of better operating margins. *his led to an F;D of 4s.5 on equity of 4s.'
r. onsidering its fous on jewellery business and retail expansionH it is
estimated to report a turnover of 4s./// r. and net profit of 4s.1/ r. for
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@R/1. *his will translate to an F;D of 4s.+ and at a reasonable disounting of
+5 0 timesH it should trade in the range of 4s./0(/. Investors are strongly
reommended to buy and hold for at least +0+5 months
Mareting Strategies
In +''1 Gili introdued 4ivaa$, a olletion of ethni Indian jewellery
Gili to attrat its ostumers and satisfy its onsumers omes up with
strategies like
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a3 Gili promisei.e. Guarantee of %uthentiity of its produts.
b3 provides with ertifiate of %uthentiity3 ID:0'//+/// O 6est 6usiness ;ratie "ertifiate *he
66; "ertifiation enompasses areas inludingFmployee Dafety, Datisfation Index, 7edial%vailability, Fnvironmental ;rotetion Dtandards, et.
d3 Deasonal %dvertisements >oardings, 6rohures toValued "ustomers O :asional %ds like ValentineDpeials, 4aksha 6andhan, ;ersonal >earts, 6ridalBewellery, et.
e3 "orporate gifts "olletion *he 6rand is very muh popular in the market for its "orporate Bewellery
"olletionsf3 "ostumer "are Gili#s attempt to build a rapport with its
end onsumer is set up of "ustomer are servie +/.//amto './/pm ( days a week.
g3 Gili also omes up with speial offers on top selling
produts
h3 :nline shopping onept is also adopted by Gili
ACHI!"!M!#$S % A&A'(S
Gitanjali Group is Business Super brand 2008
Was +$esen&e" &he awa$" . B$an" Co)n(il o# In"ia
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Gi&an0ali G$o)+ has been honoured by 6rand "ounil of India with the
“6usiness Duper brand //5! award in the gem and jewellery segment. % Duper
brand is profiled by its management, as one, whih has established the finest
reputation in its field and offers ustomers signifiant emotional andSor tangible
advantages over its ompetitors, whih 2onsiously or sub0onsiously3
ustomers want and reogni$e. *he onept evolved in the 8 in +''&, and
ame into India as Duper brand India in Aeember //.
"ommenting on the award, 7r. 7ehul "hoksi, "hairman, Gitanjali Gems, says,
“Gitanjali has always stood for unparalleled quality, trust and reliability. It is
indeed a great honour to reeive a prestigious award like the Duper brand
%ward. I believe that the marketing and the promotional ativities of any
ompany plays a major role in the growth of any ompany and this award just
proves that!. *he Gitanjali Group has nurtured brand values of leadership,
performane, trust, are, innovation and sensitivity, and has been providing this
pakage to its onsumer ommuniation fouses at eliiting segment, at every
stage of marketing, promotions and advertising. Gitanjali brand has and
ontinues to tap every human emotion, in effet beoming an expression of
emotions, for ustomers.
'!S!A'CH M!$H)()L)G*
WHAT IS RESEARCH METHODOOG!?
It is the siene that tells the method of doing researh .It mainly onsists of
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following stepsH
• Aeveloping researh design
•
Aetermining the data olletion method• Aeveloping sampling plan
• "onduting field work
4esearh in ommon parlane refers to a searh for knowledge. :ne an
also define researh as a sientifi and systemati searh for pertinent
information on a speifi topi.
*he word researh has been derived from @renh word 4esearher means
to searh.
DEFINITION OF RESEARCH METHODOOG!:
4esearh may be defined as Ja areful investigation or enquiry speially
through searh for new fats in any branh of knowledge Jin a tehnial sense
researh omprise defining Oredefining problems, formulating hypothesis or
suggested solutionsH olleting ,organi$ing Oevaluating dataH making
dedutions O reahing onlusion O at last arefully testing the onlusion to
determine weather they fit the formulating hypothesis.
RESEARCH DESIGN:
4esearh Aesign is the oneptual struture within whih researh is
onduted. It onstitutes the blueprint for olletion, measurement and
analysis of data. *he design used for arrying out this researh is
Aesriptive.
RESEARCH DESIGN USED IN THE SUR1E!:
"onsidering the objetives of the study and also the importane of the deision
it was deided to undertake an exploratory survey.
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A%*% ":CCF"*I:E
T.+es o# "a&a:
2 . +rimar, data- primary data are those whih are fresh and olleted for thefirst time and thus happen to be original haraters.
7 . Secondar, data 0 It is the data that is already been olleted by someone else/
In this survey I used both primary and seondary data. %ll information olleted
through questionnaire.
DATA SOURCE:
*he soures of olletion of seondary data are
• Questionnaire
• 6ooks
• ?ebsites
• 7aga$ine
• 6rohure
SAMPING PAN:
It is very diffiult to ollet information from every member of a
population .%s time and osts are the major limitation that the researher
faes.
% sample of &/ was taken the sample si$e of &/ individuals were seleted
on the basis of onvenient sampling tehnique. *he individuals were
seleted in the random manner to form sample and data were olleted
from them for the researh study.
LIMITATION
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TIME CONSUMING
• It %s a t%me cons&m%n' act%(%t#$
COSTLY
• In the preparat%on o project lot o mone# Waste
REQUIRED EFFORTS
• It ta.es man# e)orts to complete the project %n
search%n' ma'a<%ne- ne,s paper and Internet$
LACK OF SECONDARY DATA
• 9roper Secondar# 0ata ,as not A(a%la!le
SWOT ANAL2SIS
STRENGT5S
=Lar'e %nte'rated d%amond > je,eller# pla#er and ha(%n' an %nternat%onalpresence$
=9%oneers o !randed je,eller# %n Ind%a$
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=Stron' mar.et%n' > d%str%!&t%on net,or.$ Stron' reta%l presence %n Ind%aand %n 6$S$ ??@ d%str%!&tors and ?@; o&tlets %n Ind%a and ?;B o&tlets %n6$S$
=Stron' !rand eC&%t# and !road prod&ct ran'e S&ch as- G%l%- Asm%-
Na.shatra- San'%n%- 0Ddamas- %(aaha- Ma#a- G%antt%- 0es%re- Sam&els etc$ =%s%onar# leadersh%p 7AcC&%r%n' Na.shatra- Sam&els- Ro'ers etc$8
=E*pand%n' man&act&r%n' capa!%l%t%es %n M&m!a% and at spec%al econom%c<one %n S&rat to address %ncreas%n' demand$
=Net Worth %s B-;$B m%ll%on Rs$ So ,e can sa# that %t %s /nanc%all# (er#stron' compan#$
=S%'ht holder stat&s ,%th 0T: thro&'h a promoter 'ro&p compan#$
=5%'hl# s.%lled- C&al%/ed and mot%(ated emplo#ee$
WEAKNESSES
=There ma# !e conH%cts o %nterest !et,een them and certa%n o the%r9romoter 'ro&p compan%es$
=As the major ra, mater%al reC&%rements need to !e %mported- compan%esnormall# stoc. h&'e C&ant%t%es o %n(entor# res<%n' h%'h %n(entor#carr#%n' costs$
=Technolo'# %s less %mpro(ed compared to :h%na and Tha%landDs compan#$
O99ORT6NITIES=Ne, mar.ets %n E&rope > Lat%n Amer%ca$
=Gro,%n' demand %n So&th As%an > Far East co&ntr%es$
=Ind&str# mo(%n' rom a phase o consol%dat%on$
=E*pans%on poss%!%l%t%es %n l%est#le and l&*&r# prod&cts %n Ind%a l%.e,atches- leather 'oods- 9lat%n&m je,eller# !eca&se %ncreas%n' d%sposa!le%ncome o people$
T5REATS
=Internat%onal :ompet%t%on3+:h%na- Sr% Lan.a and Tha%landDs entr# %nsmall d%amond je,eller#$
=Increase %n the pr%ce o Gold > 0%amonds$
=Other local compet%tors$ Accord%n' to the data je,eller# salesare !# am%l# je,elers$
=Threat rom prod&c%n' nat%on l%.e S$A$ > R&ss%a$
CONTENTS
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• 9RFA:E
• A:KNOWLE0GEMENT
•:ERTIFI:ATE
• 0E:LRATION 42 T5E :AN0I0ATE
• INTRO06:TION
• 5ISTOR2
• :OM9AN2 9ROFILE
• :5ANGE IN 9ERSE9TION
• FA:TS A4O6T JEMS AN0 JEWELERS
• 4RAN0 JEWELER2 FIRMS
• MARKETING STRATIGIES
• MARKET S5ARE
• :OLLE:TIONS
• A:5IEEMENT AN0 AWAR0S
• 4RAN0 AM4ASSA0ER
• RESEAR:5 MET5O0OLOG2
• SWAT ANAL2SIS
• LIMISTIONS
• 4I4LIOGRA952
• EN:LO6S6RES
: O N T E N T S
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• 9REFA:E
•
A:KNOWLE0GEMENT• :ERTIFI:ATE
• 0E:LARATION 42 T5E :AN0I0ATE
• INTRO06:TION
• 5ISTOR2
• :OM9AN2 9ROFILE
• 4OAR0 OF 0IRE:TORS
• :5ANGE IN 9ER:E9TION
• FA:TS A4O6T JEMS > JEWELLERS
• MARKETING STRATEGIES
• MARKET S5ARES
• A:5IEEMENT AN0 AWAR0S$
• O4JE:TIES
• RESEAR:5 MET5O0OLOG2
• :OLLE:TION
• 4RAN0 AM4ASSA0OR
• SWOT ANAL2SIS
• S6GGESTIONS
• LIMITATIONS
• :ON:L6SION
• 4I4LIOGRA952
• EN:LOS6RES
Con(l)sion
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*he onlusions that an be drawn from the study are
+. *he guiding fator behind purhasing jewellery is prie, purity and design
whih sore the maximum. :ther fators are variety, the brand image, influene
of family and friends. *he least guiding fator for purhasing jewellery is the
servie and display. >ene when a ustomer goes to buy jewellery they do keep
the prie in mind followed by the purity and the design. @ators like servie
given the shop or by the jeweler and the display do not have a very big impat
on the ustomers.. 6randed jewellery is extremely popular sine it has +//9 awareness. *his may
be due to the wide spread publiity taken up by the various brands. 6rands like
Gili, Adamas, and *anishq are again the most popular brands. *rendsmith is a
brand by *ribhovandas 6himji =averi 2*6=3 whih is not very popular.&. %s stated in the literature review that <there was a shift in onsumer tastes
women were inreasingly opting for fashionable and lightweight jewellery
instead of traditional hunky jewellery.# Is proved to be orret by this researh
as respondents have seleted fashion over investment while purhasing
jewellery. Eow jewellery is regarded as more of an aessory and less of an
investment.). 6randed jewellery is bought by more than &S)th of the population. >ene it an
be said that the population is aware and has also tried these brands.. ?hen jewellery is bought for gifting purpose the population still wants to buy
it from their family jewelers.
OBJECTIVE
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?$ Ma%n o!ject%(e o the project %s to /nd o&t the
mar.et%n' strate'%es o Geetanjal% Je,ellers$
@$ To /nd o&t the compan# pro/le$
B$ To /nd the h%stor# o Geetanjal% Je,ellers$
;$ To /nd a!o&t the acts o JEMS > JEWELLERS$
$ To /nd o&t mar.et shares - collect%on-
ach%e(ement and a,ards and 4rand
Am!assador$
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SUGGESTIONS
?$ 9lease open #o&r sho, rooms %n small c%t%es
also $
@$ Lo, #o&r pr%ce- e(er#one cannot a)ord %t$
B$ Ma.e #o&r je,eler# %n @; :arrots$
;$ Wedd%n' Je,eler%es sho&ld !e more
reno(ated$
$ :as&al J,eller# sho&ld also !e %ntrod&ced$