Bandhan Jewels a new multi-brand jewellery retail chain got launched in Mumbai. The new retail chain will retail generic jewellery and top brands in India like Being Human Jewellery, Farah Khan Fine Jewellery, Kisna Diamond Jewellery & Rio Tinto Diamonds. This pioneering concept of a combination of generic and branded jewellery in a retail chain is a first in the country.
Speaking on the development, Prasad Kapre, CEO & Director, Style Quotient Jewellery Private Limited said, “We are actually linking the top brands of the country and the best manufacturers in the category to the last mile retailer in a very cost-effective way. The platform is unique because it brings mid-sized retailers together and gives them operational efficiencies of national and international brands; allowing them at the same time to sell generic Value For Money jewellery. In this manner, the associated retailers can compete with local jewellers in their area and offer a variety to the customers making them a one-stop-shop.” This development also works out for brands and manufacturers to reach out to customers without having to invest in retail infrastructure.
Bandhan Jewels store would be supported by technology in terms of e-catalog, virtual inventory system, and other modern retail practices. Santosh Srivastava, President – Sales & Business Development, Style Quotient said; “We have added top brands of the country like Being Human Jewellery, Farah Khan Fine Jewellery, Kisna and Rio Tinto Diamonds to Bandhan Store; we will soon bring in more International Brands so that the Indian consumer in Tier 2 and Tier 3 cities are presented with exquisite jewellery options at their doorstep.”
Bandhan Jewels target middle and upper-middle-class consumer segments.
Saurabh Gadgil, M.D. of PNG Jewellers and Director, Style Quotient Jewellery said; “In phase one we have identified 10 cities which includes Delhi and Mumbai and then we are looking at other towns such as Bangalore, Lucknow, Bhopal, Raipur, Chandigarh, Patna. Our target is to set 10-15 stores in these towns in the next one year; making Bandhan Jewels a 100+ store chain in five years.”
Parag Shah, CEO, Kisna Diamond Jewellery and Vikram Merchant, Director, Rio Tinto Diamonds who were present at the launch echoed the same sentiments.
4 comments:
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