Joyalukkas to invest Rs 600 cr for branch expansion

Joyalukkas to invest Rs 600 cr for branch expansion

Ahmedabad, Oct. 27:  

Dubai-based global jewellery retail chain Joyalukkas will invest Rs 600 crore on opening 10 new branches across India by March 2014.

The company’s aviation wing, Joy Jets, will buy three more small commercial aircraft for $38 million next year. It already has one, bought for $15 million and stationed at Chennai, which it runs as a luxury chartered flight. The second aircraft it is buying will run between Kochi and Dubai, said Joy Alukkas, Chairman and Managing Director, here .

With Joyalukkas’s business in the southern states now reaching saturation point, it is expanding into the northern states.

Talking to reporters, he said Joyalukkas currently has 90 showrooms in 10 countries. With 10 more retail outlets, each carrying an investment of Rs 60 crore, lined up before March 2014, Joyalukkas will have 52 outlets in the country. It has 48 showrooms overseas and plans to open new ones in New York and Qatar next year.

Joyalukkas had a turnover of Rs 10,000 crore (including Rs 6,000 crore overseas) in 2012-13. The company focusing on NRIs to open outlets in the areas of their concentration. Consequently, 90 per cent of its customers abroad are NRIs.

In India, a majority of its customers are from the southern states, he said, adding 80 per cent of its employees manning outlets are locals. The company currently has nearly 7,000 employees .

With gold prices rising, about 40 per cent of the gold jewellery business is due to recycling of the yellow metal as people prefer to recycle old ornaments for new.

Replying to a question, Alukkas said the firm’s business in Andhra Pradesh has been affected during the last three months due to agitations over the Telangana issue. 

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OURCE: http://www.thehindubusinessline.com/

Actress Ushasie Chakraborty showcasing gold jewellery collection 'Gauri', inspired by Hindu Goddess Durga, at a fashion show in Kolkata on Monday. (PTI)

Bollywood actress Kareena Kapoor launches Malabar Gold and Diamond's e-commerce venture and Mine Diamond Diwali Collection in Mumbai on Monday. (PTI) 

Source: http://www.indianexpress.com/

Amrapali jewellery designs

 Amrapali jewellery designs- Tarang Arora, Designer & Head of International Operations shares selected pieces from his treasure chest that are close to his heart.

Source: http://www.dnaindia.com/lifestyle/report-where-east-meets-west-1907036

Corporatisation in jewellery segment building up in India: WGC's Vipin Sharma

The World Gold Council (WGC) recently launched Azva, a bridal jewellery line, targeting the modern Indian bride. This is the first foray of WGC into creating a jewellery line. WGC has partnered with major retailers like TBZ, Waman Hari Pethe, PC Jewellers and GRT Jewellers across key markets in India to sell Azva. And on the other hand, the body mandated to promote consumption of gold, has ties up with the likes of IndiaPost and Reliance Money to promote gold as a savings product.
Campaign India caught up with Vipin Sharma, director, jewellery, World Gold Council, to find more on the plan for Azva and the insights on gold consumption and its promotion.
From promoting  gold consumption to creating a gold jewellery line, WGC has come a long way in India. Could you comment on the journey?
WGC was established in 1987 and we entered India at the same time, as it is a key market. WGC was quite involved in hallmarking and setting up of standards. It has had the benefit of working in international markets, so there was sharing of knowledge and WGC held technology workshops for manufacturers. WGC has worked on a lot of festivals and consumption related to festivals to create demand for gold. Akshay Tritiya is one such example. The core of its role is all about creating and sustaining demand for gold jewellery.
For the first time in the world, WGC has taken an initiative to launch its own jewellery brand in the market, and promote it. Why?
Bridal jewellery accounts for a big chunk of the market in India. Based on our studies and our close interaction with the markets, the insights we got were that there is an opportunity for us to bring innovation to the market that will benefit consumers. We worked closely with manufacturers to interpret our idea and the creative concept and develop it in the form of a collection. On the retail side, we have worked with some of the leading jewellers as retail partners.
Could you elaborate on the Azva range vis a vis the positioning, TG for the brand, and timing of the campaign?
The Azva range is a bridal gold jewellery collection created in 22 karat gold. It is based on the concept of seven vows of Indian weddings. The collection is designed for a pan-India appeal keeping in mind the modern brides. The craftsmanship is traditional but the interpretation of that is modern or contemporary. The TG is modern brides; urban consumers from SEC A, in the age group of 23 to 30 years, seeking differentiated designs and having aspirations of wearing a product that has a modern appeal.
The wedding season accounts for more than 50 per cent of the gold demand. The wedding season normally has two peaks in a year: November to December and April to May. These are going to be two key seasons that drive our campaigns, and products and new introductions.
What forms of media have been used for advertising Azva?
Azva is currently present in 40 outlets in four cities: Delhi, Bengaluru, Mumbai, and Chennai. We plan to take it to 20 cities by 2013. We have used mainstream advertising that is focussed primarily on print and outdoor. For print, we have concentrated on lifestyle magazines and national dailies to start with. And as our distribution expands, we will evaluate the effectiveness of other mediums like TV.
We have a digital presence through Azvavows.com and we will increase our close engagement with our audience through this platform. We are also present on Weddingsutra, a bridal portal.
Could you comment on the creatives?
The entire range of jewellery is based on the seven vows, which a couple takes when getting married. Azva offers a modern take on the wedding vows. The creatives are conceptualised by BBH India and the media buying agency is Maxus.
What are the other marketing initiatives undertaken?
In September, we associated with India Bridal Fashion Week; it is a leading event as far as bridal fashion is concerned. We presented Tarun Tahiliani in the opening show. In another show, we had Esha Deol with her husband Bharat Takhtani walk the ramp adorning Azva jewels. These kinds of association allow the range to be presented to the target audience in the right manner. We will continue to focus on this sphere in the future as well.
Will we see more partnerships that the WGC forges, on the lines of the one with Reliance Money and India Post?
This partnership is a good example of how we are focussing on different segments. In Azva, we are looking at modern bridal jewellery, while in case of our association with India Post and Reliance Money, the objective is to have products available to consumers who are looking at investment opportunities. So, as a Council we look at different segments and analyse what our consumer needs are in each of these markets and then build up initiatives accordingly.
From a consumer perspective, do you see smaller ticket purchases gaining momentum in India, given the rising price of Gold?
The reports for the last quarter of 2012 are not out yet, so it will be difficult to comment on the consumption. However, thanks to Diwali and the wedding season we are now seeing a robust demand for gold. 70 per cent of the gold demand in India is for jewellery while 30 per cent is accounted for gold coins and bars.
Do you see the market dynamics changing from the present, where a majority of sales comes from the unorganised sector?
It would be appropriate to term them as smaller traditional players rather than unorganised sector. Jewellery requires a level of personalisation of service, which is extremely strong when it comes to the traditional small players while national players offer a level of assurance and corporate feel. Markets are responding well to both. Broadly speaking, the branded stores have a market share of 6 per cent while the smaller traditional players have a strong presence like nearly 94 per cent.
An emerging trend in the industry is that the presence of corporate players has gone up similar to organised retail in other segments. We can see a lot more players building up a network of retail outlets - from being present in one city to a region to the national level. That is a trend that is building up. And this could be attributed to the aspirations of consumers to operate and transact in an environment that organised players or retail chains are able to offer.
Source: http://www.campaignindia.in
By Pooja Ahuja Nagpal on Dec 17, 2012
filed under Marketing, India

Tanishq breaks new ground, celebrates remarriage with new age collection

Datta Phuge Spends $235,000 On Solid Gold Shirt

Datta Phuge may be a nice guy, but the millionaire from Pune, India, probably wouldn't give you the shirt off his back.
There's a good reason: That shirt cost him $235,000 and is made of solid gold.
Phuge, a 32-year-old moneylender, recently hired a team of 15 goldsmiths to make the shiny shirt and they needed to work two weeks worth of 16-hour day shifts to get the gold threads just right.
The end result is a 22-karat gold shirt weighing more than 7 pounds and consisting of 14,000 gold flowerings, interwoven with one-lakh spangles, Oddity Central reported. The shirt was assembled on a fabric base of imported white velvet, and comes with six Swarovski crystal buttons and a gold belt.
To make it extra fancy -- as if that's possible -- the gold guys also crafted matching cuffs and a set of rings from the leftover gold, according to the Mirror.
It might seem like conspicuous consumption times 10, but Phuge considers the shirt an investment that will keep appreciating.
“People buy cars and go on holidays abroad,” he said, according to the Los Angeles Times. “For me, gold is the ultimate passion. That is the reason I have spent a whopping amount of money on the shirt.”

Truth be told, there's another reason: The chicks.
"I know I am not the best looking man in the world, but surely no woman could fail to be dazzled by this shirt?" he said according to MSN.co.nz.
Amazingly, some people aren't taking a shine to the garment.
The Pune Mirror asked Indian fashionistas
their opinions of Phuge's shirt and the comments included gripes like "too dramatic and impractical to wear," "it has no structure or shape," and "I see it more as a novelty item."
UPDATED: An earlier version of this story said that the shirt cost Phuge $25,000. Various news reports list the shirt as costing him figures ranging from $25,000 to $250,000. The correct amount is $235,000 U.S.
Source: http://www.hotklix.com

surat diamond - હીરા ઉદ્યોગમાં શનિવારથી દિવાળી વેકેશનનો પ્રારંભ

અમદાવાદ : રૂપિયાની તીવ્ર વધઘટ અને અમેરિકામાં શટડાઉન છતાં ક્રિસમસ માટે સારા ઓર્ડર મેળવનાર સુરતનો હીરા ઉદ્યોગ 25 ઓક્ટોબરથી સરેરાશ ત્રણ અઠવાડિયાં માટે દિવાળી વેકેશન મનાવશે .

વિશ્વના હીરાના કટિંગ - પોલિશિંગ બજારમાં 80 ટકાથી વધુ હિસ્સો ધરાવતા સુરતમાં મોટા ભાગે સૌરાષ્ટ્રના રત્નકલાકારો કામ કરે છે અને પરંપરાગત દિવાળી વેકેશન અગાઉ જ ઉદ્યોગ ક્રિસમસના મોટા ભાગના ઓર્ડરનું કામ પૂર્ણ કરે છે .

સુરતના 4,000 થી વધુ હીરાના કટિંગ - પોલિશિંગના એકમો 25 ઓક્ટોબરથી 31 ઓક્ટોબર દરમિયાન દિવાળી વેકેશનની રજા શરૂ કરશે . મોટા ભાગની કંપનીઓ બેથી ત્રણ અઠવાડિયાં માટે દિવાળી વેકેશન રાખશે .

ઉદ્યોગ માટે સારી બાબત એ છે કે આર્થિક ચડાવ - ઉતાર અને રૂપિયાની તીવ્ર વધઘટ છતાં ક્રિસમસ માટે સારા ઓર્ડર મળ્યા છે . ’’ એમ સુરત ડાયમન્ડ એસોસિયેશન ( એસડીએ ) ના પ્રમુખ દિનેશ નાવડિયાએ જણાવ્યું હતું .

ઉલ્લેખનીય છે કે 2008 માં લિમેન બ્રધર્સ કટોકટીના પગલે અમેરિકામાં પોલિશ્ડ હીરાની માંગમાં તીવ્ર ઘટાડો આવતાં સુરતના હીરા ઉદ્યોગમાં દિવાળી વેકેશન લંબાવવામાં આવ્યું અને ઉદ્યોગમાં લાખો રત્ન - કલાકારો બેરોજગારીનો ભોગ બન્યા હતા અને અનેક કામદારો ટેક્સટાઇલ તથા એમ્બ્રોઇડરી અને કૃષિ વ્યવસાયો સાથે જોડાયા હતા .

જોકે માર્ચ 2009 થી સુરતના હીરા ઉદ્યોગમાં ઝડપથી રિકવરી જોવા મળી હતી અને હાલમાં કુશળ કામદારો આકર્ષક વળતર મેળવે છે . હાલમાં સુરતમાં અંદાજે ચાર લાખ જેટલા રત્નકલાકારો કાર્યરત છે .

ઇન્ડિયન ડાયમન્ડ ઇન્સ્ટિટ્યૂટના ચેરમેન અને સંઘવી એક્સપોર્ટ્સના ડિરેક્ટર આગમ સંઘવીએ ઇટીને જણાવ્યું હતું કે રૂ .80,000 કરોડના સુરતના હીરા ઉદ્યોગમાં ક્રિસમસના તહેવારો સહિત ડિસેમ્બરની માંગનો હિસ્સો 25 ટકા જેટલો છે અને ચાલુ વર્ષે ગયા વર્ષની સરખામણીએ સમાન ઓર્ડર જોવા મળ્યા છે , જે ઉદ્યોગ માટે સારી બાબત છે . અમેરિકા અને યુરોપિયન દેશો ક્રિસમસની માંગમાં 50 ટકા હિસ્સો ધરાવે છે અને તેમની માંગ સારી જોવા મળી છે .

જોકે , દિવાળી માટેની ભારતીય માંગ પાછલાં થોડાં વર્ષોમાં પ્રથમ વખત 15 ટકા જેટલી ઘટી છે . એમ સંઘવીએ જણાવ્યું હતું .

ઉદ્યોગનાં સૂત્રોના જણાવ્યા મુજબ , રૂપિયાની નબળાઈના કારણે સ્થાનિક બજાર માટે હીરા મોંઘા બન્યા છે , આ ઉપરાંત સોનાની આયાત ઘટાડવા માટે લેવાયેલાં કડક પગલાંના કારણે પણ હીરાજડિત ઘરેણાંના ઉત્પાદન પર થોડી અસર જોવા મળી છે . 
source:
http://gujarati.economictimes.indiatimes.com/articleshow/24537237.cms

Hrithik to open Joyalukkas’ showrooms in Gujarat

Ahmedabad, Oct 23:  

Bollywood icon Hrithik Roshan, whose superhuman film “Krish-3” is set to be released shortly, will fly into Gujarat on October 26 to inaugurate Joyalukkas’ showrooms at Ahmedabad and Vadodara on the same day.

Joy Alukkas, Chairman and Managing Director of Joyalukkas Group, said on Wednesday that both the showrooms will follow the firm’s large format designs and will be home to over one million designs across a range of jewelry forms such as gold, diamond, precious stones, polki platinum and pearl from across the world.

The showrooms will offer the same services that the Joyalukkas offer globally.

Hrithik, the new brand ambassador of Joyalukkas, said he was excited to inaugurate the two showrooms in Gujarat. “The ability to open two showrooms on the same day is evidence of Joyalukkas’ aggressive growth strategy within the region.” 

Source:  http://www.thehindubusinessline.com/

Myraa Gold Coins Jewellery

Myraa Gold Coins Jewellery

 

 

 

  

Myraa has been a famous brand in the retail jewellery business in India for years. Myraa’s exquisite jewellery and fine gold coins have been everyone’s choice of gifts for every occasion. Myraa’s huge collection of more than 190 24carat gold coins is BIS Hallmark certified. 

Source:  http://www.jewelskart.com/