The Gem and Jewellery Export Promotion Council (GJEPC) has officially launched Anant – an exquisite range of single line diamond jewellery exclusively for the Indian customer. The jewellery range is part of the India Diamond Jewellery Promotion Campaign organised by the GJEPC along with the retailers, manufacturers and miners in the country. The campaign commenced on 19 September 2009 and will go through to 14 February 2010.
This is the first time that the GJEPC has launched a program to promote the diamond trade within India. Through the generic marketing initiative, the desire is to gain and expand the access in the domestic market, to increase the diamond jewellery sales in India, and to perk up the profit margins of the retailers. To be held in 24 Indian cities, the initiative is supported by the All India Gems & Jewellery Trade Federation (GJF), Rio Tinto, Gold Souk and the International Gemmological Institute (IGI).
The 24 chosen Cities :
Anant is now available in 24 cities including Ahmedabad, Akola, Bengaluru, Chandigarh, Chennai, Coimbatore, Gurgaon (Haryana), Hyderabad, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Noida, Rajkot, Thane, Vadodra & etc.
The participants :
All leading members of the trade and industry partners – GJEPC, Jewellery Mall (Gold Souk), top 24 diamond and jewellery manufacturers in the country, over 300 top retail outlets in the country across the 24 cities, all major retail chains in India including Tanishq and Orra, leading diamond jewellery brands, Rio Tinto, IGI and the GJF.
According to Vasant Mehta, Chairman GJEPC, “For long we have focused on international markets and exports. However, in the last two to three years, the council has seen the domestic market growing at robust speed. That growth has encouraged the council to take up the promotional activities in the domestic area also. Besides, the fact remains that wherever we would have our promotional activities – be it international or domestic market, it would help our diamantaires and members. Keeping this in mind, along with the GJF, we have taken up a campaign – India Diamond Jewellery Promotion.”
Developing a sustainable module for the industry in the long run is the primary goal of the industry led initiative advocating maintaining of high desirability and driving consumption amongst rich consumers, who currently contribute to majority of business. There is also an endeavour to increase the penetration of diamond jewellery in the industry by bringing new customers and increasing retail penetration especially in smaller towns.
According to Sanjay Kothari, convenor PM and BD, IDJP endeavours to help the retailer destock their existing inventory during the period. This would in turn benefit the manufacturer as he would beget new orders from retailers.
Course of action for 2009-10 :
Objectives chalked out for the six months period from 19 September 2009 to 14 February 2010 include pushing for designs that have high diamond content and maximizing the return on investment (ROI). This can be achieved by focusing on :
Anant Diamond Jewellery :
The IDJP focuses on the product concept of ‘single line jewellery’ which is commonly found in every store. Sold under the name of “Anant Diamond Jewellery” the jewellery covers rings with small diamonds, bangles with small and large diamonds, earrings and pendants with small and large diamonds and single line necklaces with one or more strings of diamonds. For the festive season, Anant Rekha with simple straight line is introduced. Bollywood actress Sonam Kapoor, the brand ambassador of this jewellery, during the official launch of Anant, said “Today’s woman plays a daughter, sister, friend, lover, wife, mother and a professional with ease and panache. What better way to celebrate her other than with diamonds.”
A complete 360◦ Program :
The press, television and outdoor media are the media tools employed for wide coverage of this mega activity. An estimated Rs. 20 crores is being spent on nationwide advertising of the ANANT diamond jewellery. There would be altogether 7190 spots in all leading channels across the country, approximate 195 insertions in newspapers – both regional and national, around 42 inserts in nearly 14 magazines. Out-of-home (OOH) advertising in malls and multiplexes is also being considered.
Furthermore, the URL of the program’s website would be on all communications. On the website consumers will be given information about the program ANANT, its unique selling point to induce the co
If you are a manufacturer:
By registering oneself for the program by paying Rs. 10 lakhs, the manufacturer will get Rs. 12 lakhs worth of diamond vouchers. These vouchers can be distributed to the participating retailers as incentives. The manufacturer gets an access to the top retailers of the country.
Top diamond jewellery manufacturers are part of the diamond promotion campaign and believe the initiative is a good one. According to Hemil Mody, CEO, Gold Star Jewellery India Pvt. Ltd., “It is a good initiative on the part of the Council. We feel good to be a part of the diamond promotion campaign.”
If you are a retailer:
The advantages are plenty. In-store point of sales support, opportunity to be a part of an exclusive club of retailers, who would be seen as the face of the industry amongst consumers, access to credible and leading manufacturers in the country, participation in buyer-seller meets, invitation for all future events by GJEPC are some of the benefits that lay in store for the participating retailers. The retailer’s contribution to the campaign is only part of the total investment in the program. In addition, retailers can benefit from a consistent presence in the media for the six months through advertisements, interviews etc.
Participating retailers have welcomed the initiative. In the words of Manish Shah of Cappuccino Collection and a participating retailer, “IDJP is a huge program. We are proud to be a part of this campaign.” He also applauds the Council for taking the big step in promoting local sales of diamonds. Talking of the benefits to retailers,
Over 26 manufacturers and 200 retailers are participating in the campaign and will sell single line jewellery under the brand name Anant. The campaign is expected to garner 20 per cent growth during the span of six months. The program horizon of three years will be reviewed and extended by the end of the period.