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Gitanjali diamond jewellery maker forays into exclusive retail

Created by : Shailena Varma, Logistics Manager, Target  | 10 09 2009 13:54:35 +0000
Industry : Retail Chain/LogisticsFunctional Area : Business Models(Strategy & Execution)
Keywords : retail outlets gold maya jewellery gold jewellery reliance jewels gitanjali jewellery retail outlet ornaments
Activity:  1026 views;  last activity : 07 06 2010 20:18:09 +0000

In a recent news it is said that Gitanjali the Diamond jewellery maker is going to open 60 retail outlets across the country in coming 5 yrs. The company inaugurated the first stores of its retail chain 'Maya'. So there are many lifestyle stores like these which are in the pipe lines for that matter.

But then don't you think the unorganized sector in this is there from very long ago where the local jewellery maker was making you all the ornaments till date and is also doing more business than the organized one, just take an example where still many of consumers go for these local jewellery shop than the Reliance jewels or Tanishq which is there in the upper market. And these people are doing really great business for that matter.

So what do you think, Will people go for these Retail jewellery outlets? will we see the trend changing here?

  
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As per my view I beleive that with the percentage of growth organised retail is showing year on year has already started threatning small reatils either be it Cash and Carry Business or Hyper Markets and small exclusive Brand stores.Today as a Customer I will not mind paying some premium where I have the surety that I am getting,genuine product with a very good service.And if it comes to buying Gold one would prefer to go for a Branded Store.By seeing the performance of Tanishq even in down turn was very satisfactory.Gitanjali has taken a big decession to expand its retail arm hope they do a good job like other successful Jewellery Brands.
By Sanjeev Roy, Operations Manager, Nokia  | 10 10 2009 04:21:29 +0000
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I think this modern retail jewellery outlets are for youngsters and the upper middle class people, there is nothing happening for the middle class segment which is there more in the country. Till date my parents always went to buy jewellery at the local jewelery shop than these big outlets, and it is also mainly because these local jewellery shop people mostly go for Gold ornament and many in India still believe gold as a very good investment and people go for gold rather than Diamond and platinum which most of these retail outlets concentrate on, so keeping the majority of consumers in mind I still don't think that the organized retail in this segment cant give competition to unorganized one.
By Shailena Varma, Logistics Manager, Target  | 10 09 2009 13:59:48 +0000
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