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Tag: Gitanjali Gems

  • Gitanjali Gems eyes world expansion

    Gitanjali Gems eyes world expansion

    After announcing plans to capture the global recovery in demand for diamond jewellery and other luxury items, India’s Gitanjali Gems saw its share price hit a 52-week high.

    This follows the jewellery manufacturer and exporter’s share price dipping to its lowest in many years on March 1.

    As well as diverting its focus from gold ornaments to diamond jewellery, Gitanjali has introduced low-carat gold content in stone-studded products, and is planning to raise Rs 110 crore (US$1.64 million) for its proposed expansion plan in both domestic and global markets.

    “The company is going in for diamond jewellery retailing all over the world, and also for more profitable items,” says MD Mehul Choksi. “It plans 50 more stores in the US to expand its presence by 50 per cent in the world’s largest diamond-jewellery consuming market. We are also setting up distribution centres in China and the Middle East.”

    Gitanjali also plans to increase its shop-in-shop model by 3000 outlets worldwide.

    After the US, the company plans to concentrate on its home market, followed by China and west Asia.

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  • Jewellery and watch firms top performers in luxury space

    Jewellery and watch firms top performers in luxury space

    India has bounced back and is confidently growing in the luxury markets as other BRIC countries struggle to gather pace, says Deloitte’s annual Global Powers of Luxury Goods report. By the end of last fiscal, world’s 100 largest luxury goods companies had generated sales of $214.2 billion despite currency headwinds and intense technological disruption.

    Developed economies like the US and Europe appear to be on the rebound, thus, boosting the purchasing power of upscale customers.  The Indian economy, too, is recovering from its slump. Jewellery and watch companies are top performers, producing the second-largest share of the luxury goods sale. Companies like Titan, Gitanjali Gems and PC Jeweller all make the cut as newcomers in the Deloitte’s top 100 luxury brands.

    The study also established that the channels on which luxury consumers shop are constantly evolving, making it critical for companies to understand the changing desires and buying behaviours.  “Several key aspects of the luxury sector will be unrecognisable in the next few years. The travelling luxury consumer will change the concept of national boundaries; millennial consumers will represent a significant percentage of sales volume in luxury; and the competitive forces driven by technology will continue to disrupt at a faster pace.” said Gaurav Gupta, senior director, Deloitte, India.

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  • Jewelry and watch companies prime performers in luxurious area

    Jewelry and watch companies prime performers in luxurious area

    India has bounced again and is confidently rising within the luxurious markets as different BRIC nations wrestle to collect tempo, says Deloitte’s annual International Powers of Luxurious Items report. By the top of final fiscal, world’s 100 largest luxurious items corporations had generated gross sales of $214.2 billion regardless of foreign money headwinds and intense technological disruption. Developed economies just like the US and Europe look like on the rebound, thus, boosting the buying energy of upscale clients.

    The Indian financial system, too, is recovering from its stoop.Jewelry and watch corporations are prime performers, producing the second-largest share of the posh items sale. Corporations like Titan, Gitanjali Gems and PC Jeweller all make the minimize as newcomers within the Deloitte’s prime 100 luxurious manufacturers. The research additionally established that the channels on which luxurious shoppers store are always evolving, making it crucial for corporations to know the altering wishes and shopping for behaviours.

    “A number of key points of the posh sector shall be unrecognisable within the subsequent few years. The travelling luxurious shopper will change the idea of nationwide boundaries; millennial shoppers will characterize a big proportion of gross sales quantity in luxurious; and the aggressive forces pushed by know-how will proceed to disrupt at a quicker tempo.” stated Gaurav Gupta, senior director, Deloitte, India.