Overview 3rd largest export oriented industry in the country; Contributes 15% of India’s total exports; Total exports is US $20 billion in 2007; Provides employment to 1.3 million people directly or indirectly; 3rd largest consumer of diamonds after USA and Japan; Mainly it consists of 3 sub-sectors: Gemstones: Diamond & Colored Stones Jewellery: Plain Gold, Studded, Silver Pearls Jewellery market size – US $13 billion Diamond Jewellery – US $1.2 billion
Indian Scenario Total gems and jewellery exports stood at US $ 20.88 billion; US & Hongkong are the largest importers with a share of 26%; Gold jewellery exports stood at US $ 5.6 billion; The domestic market is likely to increase to US$ 20 billion by 2010 & US$ 30 billion by 2015; Largest consumer in the world i.e., 800 tonnes of gold (60% world gold consumption) and 600 tonnes go into making jewellery; Branded jewellery sector is fastest growing sector at 40% annually to touch US$ 2.2 billion by 2010
Major Domestic & Foreign Players Asian Star Co. Ltd. Intergold Tanishq (Tata group) Gili (Gitanjali Group) Rajesh Exports Ltd. Suashish Diamonds Ltd. (SDL) Su-Raj Diamonds & Jewellery Ltd. Oyzterbay Hindustan Diamond Company Shrenuj and Company Ltd. Vaibhav Gems Ltd. (VGL)
Gitanjali Group India’s largest exporters of fine diamonds; Gili – the first branded jewellery of India started in 1994; Finest jewellery became superbrand; Recognized by ISO: 9001-2000 certificate; Provides certificate of authenticity on every product
Products Necklace Rings Earrings Bangles/Bracelets Pendants Color Stones
Introduction to Gold It is a highly sought-after precious metal, having been used as money, as a store of value, in jewelry, in sculpture, and for ornamentation since the beginning of recorded history. Concept of carat The most common carats used for gold in bullion, jewellery making and by goldsmiths are: 24 carat (millesimal fineness 999) 22 carat (millesimal fineness 916) 20 carat (millesimal fineness 833) 18 carat (millesimal fineness 750) 15 carat (millesimal fineness 625) 14 carat (millesimal fineness 585)
Wednesday, September 09, 2009 Gold mines in India
Gitanjali- JVs & Brands D’damas (JV) A joint venture between the Rs. 3000 crore Gitanjali Group and Damas, Dubai, the brand D’damas combines international quality with Indian values and offers the perfect combination of luxury and trust. Maya Gold (Brand) A new jewellery collection has been launched by Gitanjali Gold. Entitled Maya Gold
QUALITY CONTROL Filing Defects Soldering defect Change in color due to soldering Air Bubbles found on the piece Minor cracks on the piece Marks on the pieces Parting lines Improper shape of prongs Uneven placement of prongs Prongs are broken Prongs are long Size differences in prong Broken Colet
CORE COMPETENCIES two modern diamond manufacturing facilities – Borivali and Surat sophisticated 80,000 square feet jewellery designing and manufacturing facility for diamond studded jewellery at the Santacruz Electronic Export Processing Zone ("SEEPZ") at Andheri, Mumbai that employs more than 800 employees.
26 exclusive distributors across India, approximately 620 outlets, including outlets in host stores, 5 stand alone stores and 17 stores set up through franchisee arrangements spread across 30 cities and towns in India.
Has been enjoying sightholder status with DTC for more than three decades. And they source their remaining rough diamond requirements from secondary source suppliers in the international market.
Major Successes: Geetanjali Group was presented the Business Super Brand 2008 award in the gem and jewellery segment by brand council of India.
Their branded jewellery lines were among the first branded jewellery products introduced in India.
feature among the ten best known jewellery brands in India.
Expansion: Geetanjali gems intend to set up additional diamond and jewellery manufacturing facilities at Mumbai and at the proposed Gems and Jewellery Special Economic Zone (“GJSEZ”) in Hyderabad.
Customer Satisfaction: After Sales Service: Exchange policy and buy back policy: Gili wants its customers to be delighted every time they shop. But occaisionally there are situations where customers would like to return the product or exchange ti.thus, understanding the need,this policy was introduced.thus increasing brand loyalty. Gili has set up a Customer Care service from 10.00am to 9.00pm, 6 days a week. Online shopping concept has also been adopted by the jewellery company. A gili promise certificate is provided to customers guranting the authenticity of the product.
They have been awarded with the ISO-9001:2000 & Best Business Practice Certificate which encompasses areas including Employee Safety, Satisfaction Index, Medical availability, Environment Protection Standards etc. Hoardings, Brochures to Valued customers and occaisionalads like valentine special, raksha bandhan, bridal jewellery etc. According to a recent survey,consumers have a strong brand recall for geetanjali’s brand names.
Recommendations: Geetanjali Group needs to expand in other cities of India where it doesn’t exist now, which will lead to opening of new market for the brand. Gili is specialized in Diamond pendants;hence it should come up with new speciality ranges to attract more and more customers. The collection price range of the products are more expensive as compared to its customers,which needs proper cost anaysis to compete well.
To sum up, “AN OUTSTANDING TODAY AND AN INCREDIBLE TOMORROW.”