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Festive Season Sales Cause to Celebrate for Diamond Retailers
A buoyant festive season in India is making diamond jewellery retailers hope for a good 2011. Roli Gupta checks the mood in the market.
By: Diamond World News Service
Jan 13 2011 5:11PM
Reference: 5648  

Diamond & Ruby collection from Reliance Jewels  - Copy
Diamond & Ruby collection from Reliance Jewels - Copy
Efforts paying rich dividends

What’s heartening to note is that the industry’s efforts in promoting diamond jewellery have paid off well. Discounts, schemes, advertising spend, new offerings, innovative methods of publicity – all came together in a big way. Orra, for instance, every year offers free gold and silver coins along with discounts on making charges of 22kt BIS hallmarked gold jewellery. The Orra Crown Star (a 100 facet diamond as against the regular 57 facet diamond) was a new, hugely successful offering.

For Interstar, discounts and promotional schemes for solitaires worked well. Meanwhile, for Anmol jewellers, the store display and window dressing helped in attracting customers.

Shrenuj’s Doshi believes that, “When discounts are offered to the customer, she walks in to the store with a mindset of benefitting from some seasonal deals. So, the right sort of discount and promotional schemes play a vital part during the festive season. Of course new collections and breathtaking designs are what actually excite customers.

CKC offered a nominal 5% discount on jewellery for limited periods. However, Hayagriv offers a cautionary note especially against reckless and extraordinarily large discounts et al that can affect business adversely. “Festivals are, unfortunately, promoted heavily with discounts. We need to break this cycle otherwise the diamond business will get affected badly,” he says. “Maturity and patience are needed and quick money making will definitely dry up sustained growth. So as responsible jewellers we are desisting from too much discounting and hope this practice stops. We need to build the value proposition.”

As Anil Talwar puts it, “Talwarsons opted for a fairly big marketing budget, spent innovatively on hoardings and advertisements in leading fashion magazines and held a fashion show graced by celebrities which got very wide coverage in the media. We simply do not offer any discounts during the festive season. The word of mouth publicity that our products get is more important.” What is noteworthy is that the industry is holding on to the imaginative methods to promote jewellery and that these methods have been successful.

Gitanjali's leading brands participated in the special Samriddhi Festive Offer under the banner of the Leading Jewellers of the World. With a free gift of solitaire diamond jewellery on every piece of diamond jewellery above Rs. 15,000 purchased at participating outlets - there was a significant increase in sales with this promotion.


Ankit Kimtee, Director, Interstar Gems, Indore - The consumer’s buying capacity in terms of volumes has definitely increased...so it does look like the recession is gone.

Anil Talwar, Partner, Talwarsons Jewellers, Chandigarh - Diamond jewellery design is getting more and more innovative. More than 90% of the designs available are now very elite and diverse.

Ishu Datwani, Partner, Anmol Jewellers - Besides the floral design which remained a popular buy, diamonds with coloured gemstones were a big hit. Uncut diamonds held their sway over the customer too.

Vijay Jain, CEO, Orra - Solitaires were the best performing category this season.

Vishal Doshi, Group Executive Director, Shrenuj - Dainty looking jewellery was very well appreciated by our customers...

Vinod Hayagriv, Managing Director, CKC, Bangalore - While the large impulsive buys of 2007-2008 are missing, there is a healthy cash flow. This is definitely not a time for gimmicks.

Mehul Choksi, Chairman and CEO, Gitanjali Group - There was a significant increase in sales with the special Samriddhi Festive Offer.

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