Introduction India is the largest diamond cutting and polishing centre in the world—the Indian diamond cutting and polishing industry enjoys 60 per cent value share, 82 per cent carat share and 95 per cent share of the world market in terms of number of pieces. Globally the diamond industry is estimated to be around US$ 130 billion Indian market is approximately worth US$ 13.5 billion(60000 crores).
The Indian gems and jewellery market continues to be dominated by the unorganised sector. There are over 2.5 million jewellery shops in India and most of them are family run. Branded diamond jewellery currently constitutes about 15% (Rs. 9000 crores approx.) of the market for jewellery and is growing at a rate of 40%
Major players in the market Tanishq Gitanjali Adora diamonds Nirwana diamonds Kiah Carbon
Market share of major players
TANISHQ Tanishq is India's largest, most desirable and fastest growing jewellry brand in India. Started in 1995 Tanishq is the jewellry business group of Titan Industries Ltd - promoted by the TATA group. It has 130 outlets in 70 cities.
Strategies of Tanishq Provide EMI by tying up with banks. Find new applications to current users: Increasing the versatility of the product in terms of usage. For example, provision for using pendant as ear-rings, finger rings and vice versa. Customer service enhancement. Wide range of collection like: wedding, zoya,fashionearring,kundan and polki,andmoham collection Online shoping Discounts on special days
Gitanjali Gitanjali has it’s manufacturing outlet at Andheri East. Strong retail and distribution network with pan- India presence 112 distributors 10 exclusive stores 28 franchisee stores Recently its profits grows by almost 30 per cent in the year 2009-10
Strategies followed by Gitanjali It introduced Exchange Policy& Buy Back Policyat any point of time & anywhere in India. It helps Gili to retain their customers & forms a good relation; also customers become Brand Loyal because of such services. The company will continue to focus on growing its domestic retail business, maturing its acquisitions overseas. Over 12 branded jewellery brands like nakshatra,asmi,d-damas,gili and these further subdivided into sub-brands Affordable prices Advertising through ipl matches.
Adora Diamonds Adora Diamonds were launched in India in July 2003 by Mumbai based Concept Jewelry (India) Ltd. Adora expands to 117 outlets in 47 cities of India Adora also offers its customers a unique Certificate of Authenticity. The Swaranjali signature collection of living legend LataMangeshkar is a unique feature of Adora diamonds
Emerging trends Incresed disposable income Acompellingidea Cheap prices than traditional jewellers