Rivaz is an Indian startup that manufactures and retails handcrafted gold jewelry at affordable prices. They aim to bring traditional designs to modern customers while maintaining craftsmanship. Rivaz operates from Ahmedabad, Gujarat where they analyzed factors like foot traffic, purchasing power, and competition to choose their store location. Their goals are to increase brand awareness, assess profitability, exceed customer expectations, and become a leader in heritage jewelry. Rivaz is fully self-funded and expects to break even within 3 years. Their mission is to offer high quality heritage designs and be a top Indian jewelry brand recognized for tradition and craft.
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Rivaz jewels brand development
1.
2. Brand Introduction
• Rivaz is a startup based in India which works with the vision of offering
finely designed hand-crafted gold jewellery at revolutionary prices.
• The core objective is to bring back the past with a modern approach for
present era.
• Rivaz is a designer, manufacturer and retailer of unique gold jewellery.
We make many different designs in the form of necklace, rings earnings,
pins, and pendants.
• Our app is designed to bridge the vast gap between the virtual and the
physical world. This has been attained with the help of the Virtual Try-
on feature that permits the users to virtually put on different jewellery to
see just how they look when placed on the ears.
3. The Company
• Rivaaz is located in Ahmedabad, Gujarat.
• There would a store in CG Road, Ahmedabad.
• We sell the pieces direct through website as well as through our
store opened in Ahmedabad.
• The reasons for choosing this particular location is after taking
into consideration the market research made by our team
A. Type of market
B. Footfall in that location
• Our team has collected the number of footfall in the area on
everyday of the week shown as under
C. The standard of living of people and their purchasing power
present in that area
D. Competition that can be faced
E. Future growth expectations in the location
• After examining these factors carefully CG road was chosen as
the best place to carry out our operations
4. Objective
• Making people aware of the new brand.
• To carry out a financial feasibility plan for having a view on our profitability
concerns.
• To create a jewellery manufacturing and retail company whose primary goal is to
exceed customers expectations.
• To increase the number of designs offered by 8% per year.
• To become a pioneer in heritage jewellery business and service of modernising
heirloom jewellery.
5. Financial Consideration
• We will be completely self - funded by our four co - founders.
• We will pass our break-even point within the second or third
year.
• Conservative projections based on sales over the next three
years yield an annual revenue of by Year 3. The company
expects its cash account to remain healthy.
6. Mission
• Rivaz stands to cater customers with the best jewellery designs and to be one of
the most recognised “heritage” jewellery brand in India.
• We bring the traditional design in variety of choices that is of high quality and
noticeable intricacy.
• To keep hold on the sentimental value of heirloom jewellery, but changing the style
according to the user.
Vision
• We aim to provide consumers with traditional and classic jewellery design for
modern brides which depicts the Indian culture and heritage.
• Changing from a single shop retailer to multi-chain shops all across India.
7. Unique Selling Proposition (USP)
• Rivaz jewels takes the responsibility to sustain your jewellery from generation to
generation by providing exquisite repair services and maintenance.
• Also we have a feature which is called the Virtual Try-on feature that permits the
users to virtually put on different jewellery to see just how they look when placed
on the ears.
• One of our most unique feature is to covert previously owned jewellery into a new
design, one better suited for the customer of today.
9. Industry Analysis
• India is the biggest importer of gold and the pearls and gems part contributes
almost 6-7% of the Indian GDP.
• With India having a blasting working class and developing economy, the interest
for gold is set to additionally bring up in the coming years.
• In this way, adornments business holds a ton of guarantee in the coming years.
• India’s local gold and gems industry was assessed to have a market size of
about Rs.251,000 crores in 2013 with the possibility to develop to Rs.500,000
crores by 2020.
10. Target Market
• Our main focus is the bridal collection so our target market is
age group 25 - 30 years.
• Rivaz has designers who make all of the pieces themselves, and
then do the wholesaling or retailing themselves.
• The end consumer will be interacting with us through our store
and website as well as through personal contact.
Age- 25 - 30 years
Female
12. Swot Analysis
• Enough funds for operation of the business
• Own workshop for handcrafted jewellery
Transforming heirloom jewellery into a new design
according to customer
• Augmented reality app
• Government policies
• 1000s of craftsmen available
• Cheap and skilled labor
• Competitive prices
Strength
• New in an already established market
• No supplier base for sourcing such as gems
• Narrow product line
• Dealing in only gold and gems jewellery
• Weak supply chains
• Lower margins
Weakness
13. Swot Analysis
• Huge potential in the jewellery business
• Rising online retail
• Tying up with corporates and sponsorship
• Growing demand for gold
• Indian wedding market
• Expanding retail market
Opportunity
• Competition faced by already established brands
like Kalyan, Tanishq, etc
• Difficult to build trust
• Dealings in cash
• Fluctuating market prices
• Absence of latest technology
• Gold not seen as an investment market anymore
Threat
14. • Offering heritage 22k gold jewellery.
• Large and small jewel pieces
• Quality and transparency of products with
hallmarks
• Providing trend-forward exquisite designs
only available at Rivaz.
• Providing services of online virtual reality for
the ease of access
7 P’s Marketing
Mix
• Rivaz offers reasonable jewelries compared
to the competitive brands
• Rivaz jewellery is targeted for consumers
looking for unique designs, wearability, and
value for money.
• Continuous offers, discounts, and deals
attract consumers to make them brand loyal
Product
Price
Place
• Located at Ahmedabad, one of the hubs of
jewellery
• Availability of the skilled labors in Manek Chowk
• Currently, a single store trying to expand to
different states in the future
• Rivaz aims to endeavour to be a part of
every occasion in a woman’s life.
• Customer service enhancements
• Ad campaigns sponsoring weddings
• Vigorous digital marketing
• Local festival functions sponsorship
• Hoardings and newspaper
advertisements
• Promoting app via collaborating with
google pay, phonepe, paytm, etc
• Offering PR to leading bloggers and
influencers
Promotion
• Consumer experience-oriented
• Working with only trustworthy supply
chains
• Trending ornaments are available to
consumers
• Customers visit the retail outlet, select
their favourite design and chose to
pay cash, card or digitally
• Rivaz also helps in repairing old
ornaments
• Hallmark purity and authenticity
• Concept store
People
Process
Physical
Evidence
15.
16.
17. MEANING:
RIVAZ - Custom, Tradition
Rivaz is the tradition which is being carried
forward for generation in a family.
Whether it be jewellery or which glorifies our culture.
Keeping the Rivaz as we keep your heritage live.
Rivaz Jewels captures the essence of India’s
historic past with Kundan, polka and Meenakari at
the heart of it. The jewellery adorned by the
Emperor’s, King’s and Queens reaped with tradition
and beauty.
