The Making of a Super Brand

CASE STUDY Gili

Importance of Branding
Brands provide an assurance of quality in terms of materials, design and service and are preferred by contemporary consumers for this reason. The brand provides the trust factor which is an integral part of jewellery purchases and was the primary reason why traditionally jewellery was only purchased from the family jeweller. A number of factors are driving the growth of the branded jewellery sector which includes strong performance of the Indian economy, rise in the number of high net worth individuals and an increasingly youthful population with high disposable incomes.

Importance of Branding
Moreover, the changing lifestyle and culture of this section, Your Description Goes Here which has a greater exposure to global fashion and tastes (both directly and indirectly through media) etc, influence their jewellery buying pattern. Branded jewellery, and particularly branded diamond jewellery also has an aspirational value catering to the rising desires and wants of the upwardly mobile segments. Further, the rise of modern retail sector has also made it easier for sale and distribution of branded jewellery.

Importance of Branding

Finally we see that the investment motive in purchase of jewellery is decreasing and design and style are gaining importance as purchase drivers. Today, diamonds are also viewed for their investment potential, so branded diamond jewellery which combines both these factors is gaining popularity.

Opportunities for growth and expansion

Overall there are multiple opportunities for players in the branded jewellery segment. With the changing demographics and the rapid development of modern retail spaces, the Tier II and Tier III towns and cities have a great potential. Moreover, there are amazing opportunities to develop new niche brands catering to particular tastes, segments or price points. Gitanjali is expanding its retail footprint and one of the important aims is to integrate the jewellery sales within the larger luxury lifestyle retailing segment.

Opportunities for growth and expansion

This is a new area of growth that Gitanjali is catering to with its high end luxury store format Giantti. The entry into the mid sized department store segment with Maya lifestyle stores is another opportunity there is an entire section of branded jewellery under the banner of Maya Jewellery. At the other end of the spectrum, Gitanjali has launched branded lines in the lower end fashion jewellery segment with lines in silver and cubic zirconia (CZ).

Opportunities for growth and expansion

Another area of growth is the introduction of foreign brands into the Indian market and Gitanjali has been one of the pioneers of this, bringing in some of the best known names like Stefan Hafner, Poratti, La Nouvelle Bague etc. Gitanjali is also exploring the development of branded jewellery lines in association with well known fashion designers and other lifestyle brands, and recently launched the Queenie for Giantti line by fashion icon and designer Queenie at the Lakme Fashion Week.

Opportunities for growth and expansion

It will aim to add an additional 1.25 to 1.50 mn sq feet of retail space by FY 2010-11 with the focus on revenue sharing model and prime catchment areas. Gitanjali has already partnered with various leading mall developers under the revenue sharing model. Retail Expansion will be in EBO (exclusive brand outlet), MBO (multi brand outlet) and Large Multi Format Store categories. Gitanjali is already developing a 200 acres gems & jewellery SEZ in Hyderabad, and is exploring possibilities of setting up SEZs at other locations.

Opportunities for growth and expansion

Internationally, the focus is on consolidating the retail presence in the US, and the company is now not planning any other international expansions. However, it continues to remain open to expansion in newer markets through mergers and acquisitions should a very attractive opportunity present itself.

Answer 2:

1. Craft Shows & Fairs- It is a showcase of craftspeople who get together, exhibit and sell their work to the buying public. Selling jewellery retail through craft shows give beginning craftspeople their first sales experience, allowing them to gain confidence in dealing with the public. Testing prices, the salability of products plus generating first profits are other advantages. a. Juried- where hopeful exhibitors have to submit slides or photos of their work to prove it is of a type and quality desired for a particular event

Answer 2:

a. Non-juried- which are open to all comers on a firstcome-first-served basis, and are usually the starting point for many crafters. 2. Niche Markets- These are core groups of people who have similar occupational and/or lifestyle characteristics that you can target with excellent results. Selling jewellery retail through niche markets with specialty shows in a related industry can be a good option beyond the traditional jewellery or craft show and an excellent opportunity to expand your market.

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3. Studio Sales- Many jewellery designers set up private studios in their home where they work, teach, and sell either on a custom-order basis or on a browse and shop basis. Many artisans hold "open houses" in their studios two or three times a year and/or participate in organized studio tours. 4. Vendor Carts & Kiosks- There are many opportunities for jewellery designers selling jewellery retail from kiosks and pushcarts. Revolving mainly around small impulse items or unique gifts, well structured, eye catching, kiosks and carts are a viable alternative to opening a retail shop.

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5. Rented Shelf Space- Renting shelf space or a small area of a craft or gift shop, or a specialty boutiques is becoming a more popular way for jewelry designers to sell their work. Although consignment is an inexpensive, no-risk way for shop owners to stock their shelves, it is often an unsatisfactory arrangement for jewelry designers. Rented shelf space arrangement, on the other hand, have benefits for both the shop owner and the jewellery designer. 6. Your Own Web Site- Selling jewellery retail through your own web site is an alternative way of reaching customers both nationally and internationally.

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7. Home Party Plans- The home party plan is a profitable way to selling jewellery retail and is a method of product marketing in which you ask a hostess to sponsor a party for her friends. At this informal party you demonstrate and display your jewelry to the hostess and her invited guests, orders are taken, but merchandise is not delivered until later.

Answer 2:

8. Holiday Boutiques- A holiday boutique is another great opportunity to selling jewellery retail it is often set up to run on a weekend can be a profitable and rewarding alternative to selling at craft fairs or through local shops. A holiday boutique or an open house is a craft or jewellery show that is operated once or twice a year. Usually, they are organized and operated from your home or garage, but they can take place in very special places, such as historical houses or church halls.

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