INTRODUCTION

INTRODUCTION
“Gold jewellery is often envisioned as a symbol of wealth and status.
Interestingly, buying gold jewellery is also one of the best ways to
invest hard earned money. Vibrant looks, exquisite design and the
impeccable style, innate to well crafted gold jewellery, make it
nothing short of a treasure. Gold jewellry is a striking piece of art and
the aptly described as poetry in metal.”

India is the largest consumer of gold in the world. Country’s jewelry

market is mostly dominated by the unorganized sector. About 3lakh
traditional retail jewelers hold 96per cent of the market share, while
large brands or organised retail form only 4 per cent of the overall
market.

Among the gold market, gems and jewellery segments shows highest
potential of growth the growth of retail business in this area. The
Indian gems and jewellery sector contributed to about 15 per cent of
India's total merchandise exports during 2005-06. And in 2006-07, it
accounted for 13.7 per cent of the country's total merchandise exports.
The domestic demand for retail jewelry (both branded and unbranded)
was estimated at Rs 490 billion in 2005, with diamond jewelry
comprising Rs 80 billion. By 2010, according to a study by
McKinsey, the branded jewelry market alone would touch Rs 100
billion mark. The sale of diamond jewelry in India has been
increasing at a rapid pace of 25% every year over the last two years.
The branded jewelry segment has shown an astonishing trend,
increasing by 50% each year.

In the recent years, jewelry market has witnessed tremendous change.

Old, traditional ornaments are giving way for branded designs and
gold is replaced by diamonds and precious stones. Buying pattern is
also changing. People are more and more opting for branded jewelry
than buying from a ‘family jeweler’. This change has created ample
opportunity for the retailers. Multi-national jewellery brands such as
Tiffany, Cartier, Zales and Harry Winston, all are showing interest in
setting up their shops in India. Government’s decision to allow 51per
cent FDI in single brand retail store also helped many foreign retailers
to enter into India.

Damas Jewelry, one of the world’s leading jewelry retailer entered

India in 2003 with a 50-50 joint venture with Gitanjali Gems Ltd.
Damas opened its first retail store in Bangalore in 2005 and it
increased its presence by another seven showrooms in short span of 5
months. It intends to open another 30 showrooms by 2006-07.

Generally, Indian consumer looks out for low-cost jewelry for daily
wear and prefers to buy from trustworthy jewelers. Diamonds,
precious stones which give elegant look not so expensive and
changeable after few years of wearing are preferred by the working
class women. Some of the prominent brands in the market are Adora,
D'Damas, Oysterbay, De Beers and Carbon. There are about 30 major
players marketing about 50 brands in India.

Keeping Indian consumers preferences and tastes Arens Gold Souk

International Limited has opened a special shopping mall for branded
jewelry. The company is planning to open about 100 Gold Souks in
India in near future.

Jewelry retailers are exploring the vast India Gold and jewelry
market, especially brand jewelry in their own way of branding, suiting
to the needs and expectations of the consumer. Among Indian brands,
for example, Nakshatra is product specific, Asmi is feeling specific,
and Glitterati is star oriented.

For thousands of years, Indian jewellery has remained unchanged

with design dictated by regional and religious tradition. Over the last
few years, however, it has begun to bubble with change. Economic
reform and the impact of television have suddenly opened the doors
and latest global trends have found favor. Fashion is now an important
new sales driver and jewellery manufacturers are scrambling to adjust
their product design to cater to this segment. A host of variables- the
buying occasion, the wearing occasion, the economic strata of the
target segment and the effect of regional and religious influences on
all of them are now being juggled to find the winning mix.

A recent study of youth in India, a segment consisting of those under

35-constituting a colossal 54 per cent of Indian population with high
disposable income and a propensity to spend, showed that young
Indians today, despite being a part of the global fraternity, would
gladly choose to stay connected with their cultural roots. This study
makes it abundantly clear that connecting tradition with trends is one
of the keys to success in the Indian market.

Fashion jewellery integrates many aspects from the tangibles to the

intangibles and is evolved of an environment from purpose, material,
technique, production, user, economics, to aesthetics, values,
perception, and time. No matter where and when, a designer cannot
proceed without considering all the aspects involved in turning a
concept to an actual product on the counter. Change is an integral part
of society and traditions need to be reinterpreted and restated with
subtle modifications to suit the changing times.

Jewellery industry hasn’t yet got around to really understanding the

consumer. The concept of design is still new to India, and it is not
quite sure if serious, systematic efforts are put in by Indian designers
and companies to understand what the Indian jewellery market is
about, who the Indian consumer is and what she really wants in a
piece of jewellery. The jewellery institutes hold design workshops for
companies and they are often a complete revelation to most of the
older generation who attend them. One can understand trends and
design, but you cannot simply put the two together. A design is
created keeping in mind ones production base, corporate identity
marketing and packaging efforts, branding and the like.
Change in Perception:

In the globalized era, jewellery in India, like many other traditional

product segments, is undergoing an astounding change of perception.
While it continues to enjoy the position of being an enhancer of
beauty and means of security, the new-age consumer perceives
jewellery as a personal accessory that manifests the wearer’s attitude,
personality and lifestyle. It is imperative for jewellery manufacturers
to recognize this shift and adopt new, innovative approaches in the
creation of jewellery. This is what will enable them to establish an
edge over their competitors. On the other hand, a glaring reality is that
the traditional jewellery sector constitutes a significant chunk of the
jewellery market. This jewellery in most instances is handcrafted and
bought from the family jeweler. This segment has a strong socio-
cultural bias, as the jewellery is bought for auspicious occasions like
weddings, engagements, and rituals. The decision to buy a piece of
jewellery is more often a family decision than an individual choice.
Jewellery in this segment is also a means of investment and future
security traditionally constituting the wealth that a bride takes with
her to her new home.

This offers the biggest opportunities to designers they need to

understand that traditional jewellery emphasizes a deep zymology and
meaning socio-cultural, religious and psychological- that places it
way beyond its sole function of adornment. There is an unimaginably
vast opportunity for us to leverage this by packaging the context of
tradition and culture in designs that are universal and contemporary in
their aesthetic appeal. This blending results in a product that stand out
in today’s world where globalization has resulted in products being
massively homogenized and consequently losing their individual,
cultural and regional identity.

A lot of companies are already experimenting with this blending

concept, but it is important that the resulting jewellery, while keeping
in mind traditional reverence and meaning, should not look very
ethnic. Here branding and packaging play an important role in linking
a new-look piece to its traditional inspiration. The successful
Nakshatra brand that launched by De Beers. Floral designs have
always existed in Indian culture with different communities
interpreting them in a myriad different ways. But the traditional
jewellery was heavy and worn only at weddings or for religious
ceremonies. Most of the time it stayed in safety deposit lockers.
Nakshatra successfully reintroduced it by modifying it into light,
everyday-wear designs. Any sensitive designer today is trying hard to
establish a balance between tradition and trend. The interplay of
traditional technique and international design trend is apparent in
today’s Kundan (traditional 24-karat gem-set) jewellery.

Some designers have already incorporated the linear earring design,

which is a global trend today, into their kundan-studded earrings. A
classic example of mangal sutra, the traditional beaded necklace worn
by women to signify their married status, a social symbol that has
remained unchanged in design for millennia. The basic concept of
black and gold beads with a pendant the centre remains the same, but
one can now have interplay of black, white and gold beads. As for the
pendant, the beads were first replaced by diamonds but have now
made a comeback. The variations in design are actually asked for
today by young brides of traditional and modern tastes. There exists a
traditional Indian woman within every modern woman and jewellery
has to appeal to both.

Apart from the subtle changes in the traditional jewellery market,

most designers observe that more and more people today are
interested in horoscopes, chanting mantras, yoga and alternative
therapies.Today’s consumers have a strong interest in birthstones and
the beneficial properties of gems. Consequently, spiritual and
auspicious motifs have seen a great comeback in fashion, including
the jewellery segment. Thus the Rudraksha, Ganesha and religious
swastika motifs, the traditional nine-gem or Navratna combinations
and many other auspicious concepts have become very popular in the
Indian jewellery market over the last couple of years. Indian designers
incorporate these motifs into current fashion so harmoniously that
they are as current as the latest trends.

The Indian USP Unlike many other fashion markets in the world,
which are more homogeneous in character, the Indian market
demonstrates a great element of duality, particularly in traditional
product segments like jewellery. Indian consumers operate with two
contradictory mindsets when deciding to buy a piece of jewellery. At
heart, we remain quite rooted in culture and tradition and continue to
revere and value jewellery as a time-honored possession. On the other
hand, the same consumers exhibit contemporary urban traits and see
trendy jewellery as an extension of their personality and lifestyles.
They opt for brands, thereby emphasizing their perceived worth
accorded to a piece of jewellery. The jewellery buying pattern in the
Indian market is also changing. For instance, the Indian woman today
is economically independent and does not seek approval from her
father or husband to buy jewellery as was the case earlier. Indian
fashion does not surrender to the burdens of fall-winter or spring-
summer influences. In India people stick to their personal tastes and
do not kowtow to the imposed opinion. It could also be because most
of them cannot afford the routine makeover of the wardrobe another
interesting feature is that the Indian consumer looks for the longevity
in a product. Hence the product supersedes the season. Also, Indians
might see tough competition from other luxury items like high-end
mobile phones, travel, and the like, Indians have a rich culture and
heritage, which continue to respect and follow despite changing
modern attitudes. Jewellery is far too integrated into lifestyles to get
affected in one generation. This could all change some two
generations down. The good part is that they still have the luxury of
time to work on it, unlike the west.
It is felt during a recession; jewellery comes in last and goes out first.
While buying, jewellery is last on the list. Although mobile phones
are a luxury item, they have become a necessity. Nonetheless, the
Indian market is getting stronger by the day; it will see a big change
in the tastes of the Indian consumer within three or four years. And
while many point to the growing use of diamonds in Indian jewellery,
complete makeover is still a way off. Rural India still has a mindset
for plain gold jewellery, as it is easily traded as compared to diamonds
(meaning investment is still a big jewellery purchase driver). And
rural India accounts for a major chunk of jewellery consumption.
There are several trends running parallel in the Indian market as far as
the design life cycle goes. While in the traditional jewellery market,
change is gradual, spread over years, in the urban segment, it is quick
and ongoing. Moreover, in precious jewellery, the evolution is much
slower and most often, jewellery in the high-end segment tends to
have a long-term appeal. However in the fashion segment, it is very
important to tie it to trends, as the price points for these are much
more affordable, and this is where the consumer is able to experiment.

The product life cycle in India is much longer because of the high
value costs involved. Other lifestyle products undergo four fashion
cycles a year, but jewellery cannot follow this pattern. Only between
one and three per cent can afford to buy so frequently. Trends in
jewellery change at much lower rate as compared to the rest of the
luxury market due to the high costs involved.
Designing To Follow Fashion:

With so much change and so many variables to consider, most

jewellery designers agree that it is vital to understand the holistic
lifestyle practices of the customer, visit jewellery stores across the
country, national and international fairs, fashion weeks and travel to
observe what people wear in terms of their garments and accessories.
All these provide valuable inputs to a designer. It’s important to watch
the fashion segment for the colors, styling and detailing on

the garments. One need to study the necklines that are in vogue to
decide the profiles of the neck- wear that you are going to design. A
good example of fashion trends affecting jewellery design was the
layered look. A few seasons back, all the big design houses were
suddenly wrapping up their models in many layers of different
materials. This concept took off in the jewellery industry like a rage
with designs featuring many different beaded necklaces and bangles
at the same time.

A designer has to also keep in mind the wear ability of the piece while
being conscious of trends. Indians have traditionally preferred
emeralds and rubies for the color in their jewellery but that of late, a
variety of colors and types are in vogue.
Today Indians want topaz, tourmaline and even synthetics if they give
them the look they want. But even after factoring all the variables,
most designers will tell you that there is no such thing as a single,
homogenous Indian jewellery market. Geographic location and ethnic
differences break it up into distinctly different markets with differing
tastes. When one designs for the Indian market, one has to definitely
keep these aspects in mind. But, the contemporary jewellery segment
responds closely to the changes in the global market and the consumer
base is not wholly segmented by geographic location or ethnic
groupings. Internationally, companies and marketers are segmenting
consumers in the context of their attitudes and values, tastes and
preferences, lifestyles and living patterns. However, there is a
specific, identifiable customer base in cities like Delhi, Mumbai,
Hyderabad and Bangalore, that is more willing to experiment with
new designs and concepts.

Delhi definitely is very quick to catch on to trends which are bold and
visible. Bombay is more style oriented where people are more aware
of what works for them individually and whether it suits their
personalities. The south tends to stay with a more classic approach. In
Chennai, gems are a no-no. Though jewellery is forever evolving, the
underlying essence of a particular region is always visible in it. Look
at a bride from any particular region of India. Even the most modern
north Indian bride will shun international brands on her big day and
opt for culturally and traditionally rich embellishments like Kundan
jewellery, while a south Indian bride would go for temple jewellery.
Indians attach a considerable amount of emotional value to jewellery
though this does not affect the design concepts of fashion jewellery.
There is a very small segment emerging of highly fashion- conscious
individuals who are ready to experiment with tradition. There is also
another segment of people who are artistically inclined, and prefer
handcrafted or artistically appealing jewellery. And then there are
collectors who go for customized pieces that are unique in design,
material, craftsmanship or technique. Fashion designers empathize
with

this drift and thus are exploring more and more possibilities in terms
of integrating regional tastes with the fashion dictates of today. Hot,
Evolving Market India is hot today, and tastes are moving from local
to global. The market for designed goods is fast evolving. From the
fashion weeks becoming popular in India, to Indian design stores and
Indian designer labels becoming fashion icons globally, India on the
path to becoming a design centre for the world.

Five or ten years ago, one could clearly distinguish between a western
and an Indian design. But today, the distinction is blurring. Plus, the
idea of fusion has brought the two worlds together. Indian designs are
readily accepted in the west and vice versa.

Designers and consumers both are more open to experimentation and

there are a lot of new exciting materials being used today. Italian
rubber, amalgamation of precious and non-precious, leather, wood,
suede, fabric, plastics and other unusual combinations are commonly
seen. The characteristics of costume jewellery have penetrated the
mainstream precious jewellery market and in the large cities, the
jeweler does not now hesitate to display these as his unique sales
proposition. Also, value addition is achieved with new stone settings
and cuts, surface finishes and textures on metals and cross cultural
forms. In about five to ten years, the Indian market will have an
identity of its own especially because of globalization.
The last two years have shown a shift from a preference for diamonds
to colored stones, while white gold is being accepted by middle and
higher-end consumers.

Electronic Influences:

A major influence on design and style in India today is television,

which brings alien ideas, attitudes and styles right into all of Indians
homes. TV has been a major driver of change. Television fashion
trends get replicated particularly in middle class or small town homes.
While TV as a medium may cut across consumer groups
internationally-travelled, well-exposed, elite class is less likely to be
driven by its impact, as this class is in-sync with international fashion
trends and global signer brands. There has been a noticeable increase
in demand for diamond mangalsutra pendants after the leading ladies
of some of the most popular serials started wearing them.

Magazines dictate fashion trends more than television magazine like

Cosmopolitan, Femina, Woman’s Era, and you’ll find jewellery
designs, advertisements even articles about them. About 10 years
back, no fashion magazine featured jewellery, but that is not the case
today. The internet too has contributed t the changes in Indian
jewellery tastes. Information is just few clicks away and one wants to
emulate the styles seen on the ramps of Paris. Minds and pockets have
opened up and the consumer wants global and local to go hand-in-
hand. So far Indians were intrigued by the advent of westernization in
the east. Now it’s the turn ofeasternization in the west! To sum it all
up, today’s jewellery designer for the Indian market needs to be aware
of factors like the shift in the mind- set from investment to style
statement the longing for a balance between tradition and trend, the
need to understand the emotional connection, the need to exude
confidence and to stand apart, the balance between economic criteria
ant aesthetics as well as a constant hunger for innovation. The Indian
jewellery market has meta- morphosed in the last decade. Consumer
perception is evolving with so many brands and jewelers to choose
from. It is an exciting period of transition for everybody in an industry
that was somnolent for millennia.
SOME FACTS ABOUT GEMS AND JEWELLERY

When Britain's Prince Charles returned home after his recent trip to
India, he carried with him a glittering Nakshatra pendant presented by
the Diamond Trading Company (DTC). A gift fit for a prince, and
fitting gift for him to receive in a country where the rock is fast
becoming the ultimate style statement.

From Sushmita Sen flashing an eleven-carat stone on her finger, to

elegant dewdrops for boardroom belles and nine-to-five fashion for
working women, Indian women have taken Mae West's wise words to
heart: "No gold-digging for me, I take diamonds! We may be off the
gold standard someday!"

Diamonds are not restricted to the celeb set anymore, nor are they a
once-in-a-lifetime indulgence.
Whether dazzling white or sparkling champagne, they are the stone
for all occasions—from office parties to page three dos. Competition
is intensifying in the $70-billion global diamond jewellery market, as
rising wealth in Asia buoys demand. And India will easily top that
growth, because jewellery has always avowedly been a part of the
country's tradition and lifestyle.

This year, demand for diamond jewellery in India will have grown 40
per cent, on the back of a 30 per cent growth in 2005. Diamonds
account for nearly 70 per cent of the Rs 60,000-crore gem and
jewellery industry, in value terms the highest share in any country.
Over a million people are employed in this business across Gujarat
and Maharashtra. Exports went up 15 per cent last year.

These are facts that allow DTC, the marketing arm of the De Beers
group, which supplies half of the rough diamonds sold worldwide as
well as half of all diamonds sold in India, to set its sights and hopes
even higher. In volume terms, India is now DTC's third largest
market, accounting for seven per cent of total business after the US
(50 per cent) and Japan (13 per cent). But in terms of growth, India
heads the DTC chart.

So what's making diamonds overtake gold as the Indian woman's best

friend? Compared to mass-produced gold jewellery, each stone can be
unique, depending upon the cutting. What lends a special touch to the
uniqueness is that every stone is between a billion and three billion
years old. Bet you didn't know that!

As a result, the industry is witnessing a surge in marketing and

branding. Gitanjali Gems, for instance, which recently mopped up Rs
300 crore-odd through a public issue, has 85 per cent of sales
revenues coming from diamonds, compared to 15 per cent from gold
jewellery. That is getting increasingly visible in the profitline too—
more than 55 per cent of its profits come from diamonds.

Both style and quality are important when selecting a diamond.

Contrary to perception, it's the young girls spending their parents'
money who go for complete sets, while women buyers prefer
individual pieces. The largest volume of purchase occurs in the Rs 1-3
lakh range.

Gitanjali, one of DTC's sightholders (experts who select and purchase

rough diamonds), owns reputed brands like Asmi, Gili, Sangini, and
D'damas, apart from the new, very premium Victoria's Desire. DTC is
also developing the Nakshatra brand, worth Rs 100 crore as the
umbrella brand, along with Orra and Arisia. Cherie Tandon Saldanha,
the company's marketing director for India, believes that with
increasing disposable income, and a growing trend away from
unbranded, heavy jewellery towards modern, light yet expensive stuff,
sky is the limit for the industry. DTC spends about Rs 30 crore a year
on brand promotion. The idea is to create a high aspirational image,
where it has been largely successful.

Says Mehul Choksi, chairman, Gitanjali group: "The runaway

demand for diamonds is a result of three factors: strong
communications, fashion appeal and confidence in their value. " And
this has happened despite diamond prices rising by around 15 to 20
per cent every year. Affordability, rather than price, is a factor. And
diamonds have become more affordable than before, thanks mainly to
a revolution in designing, branding and marketing. With gold prices
zooming for the past one year, diamond jewellery has become Value
For Money!

As in international markets, where 90 per cent of the jewellery is sold

as a fashion accessory for everyday wear, and not as an investment,
branded jewellery is now being positioned in India as a lifestyle and
personality statement. Branding also attaches faith to the product. All
branded jewellery comes with certification, which is useful if you're
buying it as an investment or are interested in reselling or exchanging
it at a later stage.

The increasing market presence of diamond companies is mirrored in

their stock prices as well as the commodity markets. The rising
number of millionaires in India and the surge in consumption of
luxury items will only make these rocks shine brighter than ever.

India and diamonds are the best known combination throughout the
diamond industry. Though India was known to have diamond mines
many centuries ago - the fabulous Kohinoor is an Indian diamond - it
has virtually no mines today. However, India has continued to
maintain its tradition of diamond cutting and thousands of people are
involved in this skilled occupation.

Today, with its cut and polished diamonds, colored gemstones, gold
jewellery, pearls, non-gold jewellery and fashion jewellery, India
accounts for almost 50% of the international market. The gems and
jewellery sector contributes nearly 55% of the world’s net exports of
cut and polished diamonds in value, 90% in terms of pieces and 80%
in terms of carats. Every 11 of 12 diamonds sold around the globe are
processed in India, irrespective of where these are mined. With the
right policy and regulatory framework, India could establish itself as a
brand in the international Gems & Jewellery market, increase
employment and create new breed of entrepreneurship.

Apart from being the world’s largest diamond processing (cutting and
polishing) country with an 80 per cent share in world market India’s
favorable trade policies have made India the hub for gems and
jewellery. The burgeoning retail industry in India is instrumental in
innovatively marketing and branding diamonds and traditional
jewellery, making inroads in this sector and contributing to the
nation’s economy.

The Indian consumer has lately become the focus of every retailer's
eye, proof being the international brands flocking in to set up
franchises in India. Economic boom coupled with retail sales
explosion has made a smooth pathway for all those who understand
the art of retail in India. Due to the Economic boom in the country,
India is emerging as a very big Consumer Market for jewellery and
other luxury products and offering a very lucrative opportunity for
major brands to establish presence in the Indian market. The booming
domestic market along with export advantage of the industry and the
Government's decision to allow foreign direct investment of up to 51
per cent in single brand retail stores has attracted a large number of
players to the sector.

Players like Reliance, pantaloons, Wal-Mart, etc have already set up

shops in India. The Reliance group plans to spend $5 billion in new
retail formats including malls and combined service and retail formats
along the evolving Indian highway system. Global behemoth Wal-
Mart has also officially entered India with a strategic tie-up with the
Bharti group. Wal-Mart will provide the back-end services such as
sourcing and supply-chain management for the Bharti group’s
planned retail formats across the country as well as an initiative to
supply the countless small, convenience stores that dot the
countryside all across India- reaching out directly to the consumer.

Branded jewellery is the new mantra in the market, having rapidly

acquired a niche over the past few years. Increasing purchasing power
and disposable incomes of India’s middle class has resulted in
consumption growth of this industry by about 11 per cent in the five-
year period preceding 2006-07. Add to that the insatiable Indian
craving for gems and jewellery, and the demand will skyrocket to US$
20 billion by 2010 and US$ 30 billion in 2015, according to industry
experts. Focused marketing creating awareness and demand for the
products, innovative product range creating excitement and expanding
the category as well as transparency and adherence to best practices
will help build consumer confidence.

The surprising thing about retail investment is that about 20 per cent
of retail effort – in a planned manner – is targeted at rural areas, which
is defined as towns with a population of less than a million. India has
seen a significant growth in disposable incomes as a result of the
economic growth that it has been enjoying. This income is spread in
the rural areas also. According to the Tata Statistical Outline of India –
2005-06, around 60 per cent of the rural income is from north and
east. Depending on the size of the market, retailers work with multiple
formats – currently they are partnering with local jewellers and these
jewellers retail their brands, commonly known as the ‘shop in shop’.
These stores would carry a merchandise mix and are in the range from
600- to 1,000 square feet.

Retailers are also looking at mobile store concepts and thinking of

innovative ways to connect to the consumer. Brand building, and
creating brand identity is the focus of every retailer in India at present.
Indian retailers see a huge jewellery consumer market in India but
there is a slight speculation that they might soon face stiff competition
from within as well as from international brands who are rapidly
setting up chain stores.
India consumes nearly 800 tonnes of gold accounting for about 20 per
cent of the world gold consumption. Out of which nearly 600 tonnes
goes into making jewellery. According to The World Gold Council
(WGC) total gold supply in the second quarter this year stood
(Q2FY08) at 840 tonnes, whereas the demand was 944 tonnes. A
study by KPMG reveals the Indian jewellery market to be US$ 13.5
billion in fiscal 2006-07, accounting for 8.3 per cent of world
jewellery sales. However the export of diamond-studded jewellery
from India is merely 4 per cent of the total export of gems and
jewellery worth US$ 18.06 billion. Since the demand of diamond-
studded jewellery among Indian consumers has risen sharply, the
industry should focus on the domestic market. Diamantaires, in
Surat's US$ 11.29 billion diamond industry, are eyeing jewellery
manufacturing in a major way, after DTC has decided to prune supply
of rough diamonds to India. If India becomes a manufacturing hub for
jewellery as well as a consumption market it will just prove India’s
strength in both sectors.

The government has offered some concession to the industry by

lowering import duty on platinum from US$ 13.82 per 10 gms to US$
5.03 – exempting rough coloured precious gems stones from customs
duty at the first stage itself, instead of claiming reimbursements later.
Rough, semi-precious stones are already exempt, a move aimed at
further promoting the exports of studded jewellery and platinum
jewellery. Duty-free import of consumable metals other than gold and
platinum up to 2 per cent of f.o.b. value of exports and duty-free
import entitlement for rejected jewellery up to 2 per cent of f.o.b.
value of exports. There is increased duty-free import of commercial
samples of jewellery to US$ 2.50 and import of gold of 18 carat and
above under the replenishment scheme.

The Indian retail scene is set to flourish and there is no looking back
for those who know how to sell jewellery to an Indian woman, since
jewellery is a part of Indian tradition and customs.

Gold Information

Gold is a highly sought-after precious metal in the world. One of the

oldest precious metal in the history of mankind, it had been used as
money, as a store of value, in jewellery, in sculpture, in medicine, in
electronics and for ornamentation. Gold does not tarnish, rust or
corrode. Due to its wonderful qualities and its magnificent luster, gold
is considered the most important metal in jewellery making.
The purity of gold is measured in terms of karats. Pure gold is
designated as 24 karat. A karat is the percent of pure gold in the alloy.
One can determine the percentage of pure gold in any gold piece by
dividing the karat by 24 (e.g., 18 karat gold: 18/24 = 0.750 = 75%
pure gold).
As pure gold is soft, it is frequently mixed or alloyed with other
metals in order to make the gold harder to be used for jewellery. Also
mixing of gold with other metals affects the colour. For example, gold
must be alloyed with different metals such as silver, nickel, palladium,
copper, bronze, aluminium in order to get different shades of gold i.e.
yellow gold, white gold, green gold.
The karat scale is used for measuring the proportion of gold in
jewellery. Accordingly, 24karat denotes pure gold. 18 karat gold is 75
% gold and 25 % alloy, and so forth.
Percentage Pure
Karat Fineness (European Marking)
Gold
24 100 999
22 91.67 917
18 75.00 750
14 58.30 583
10 41.67 417
9 37.50 375

In India, 18 karat and 22 karat are the most popular forms of gold
jewellery. The 18 karat is popular because of its rich colour and
durability.

Gold alloys can also affect the colour of gold. The following list
includes the most common colours of gold alloys and the metals used
for producing them:

Color of Gold Additional Metals Used

Yellow Gold Copper, Silver

White Gold Nickel, Zinc, Copper

Green Gold Silver, Zinc, Copper

Rose Gold Copper, Silver

OBJECTIVE
 OBJECTIVE OF THE PROJECT

 To find consumer perception towards jewellery from various

brands available in the market.
 To find dominating player of this industry and rivals.
 To find existing competition between local brands and different
branded firms.
 Comparison between local and branded jwellery regarding their
market share, acceptability and popularity.
 RESEARCH
METHODOLOGY
 METHODOLOGY

Research can be defined as a scientific and systematic search

for pertinent information on a specific topic.

 Types Of Research:- Exploratory Report

 Types Of Data To Be Collected:- Primary Data &
Secondary data
 Primary Data Collection Method:- Survey
 Primary Data Collection Techniques:- Personal Interview,
Questionnaire
 Sample Unit:- Banahi Bajar Mirzapur.
 Sample size:- 70
 Sampling Techniques:- Simple Random Sampling

COLLECTION OF SECONDARY DATA:

Branded Gold Jewellery Market in India: The Gold Rush

In the late 1990s, the Indian jewellery market witnessed a shift in

consumer perceptions of jewellery. Instead of being regarded as
only an investment option, jewellery was being prized for its
aesthetic appeal. In other words, the focus seemed to have shifted
from content to design. Trendy, affordable and lightweight
jewellery soon gained familiarity. Branded jewellery also gained
acceptance forcing traditional jewellers to go in for branding.

Given the opportunities the branded jewellery market offered; the

number of gold retailers in the country increased sharply. Branded
players such as Tanishq, Oyzterbay, Gili and Carbon opened
outlets in various parts of the country. Traditional jewellers also
began to bring out lightweight jewellery, and some of them even
launched their in-house brands.

However, the share of branded jewellery in the total jewellery

market was still small (about Rs. 10 billion of the Rs. 400 billion
per annum jewellery market in 2002), though growing at a pace of
20 to 30 percent annually.

The branded jewellery segment occupied only a small share of the

total jewellery market because of the mindset of the average Indian
buyer who still regarded jewellery as an investment. Moreover,
consumers trusted only their family jewellers when buying jewellery.
Consequently, the branded jewellery players tried to change the
mindset of the people and woo customers with attractive designs at
affordable prices.

Gold Jewellery Market in India

Before the liberalization of the Indian economy in 1991, only the

Minerals and Metals Trading Corporation of India (MMTC) and the
State Bank of India (SBI) were allowed to import gold. The abolition
of the Gold Control Act in 1992, allowed large export houses to
import gold freely.
Exporters in export processing zones were allowed to sell 10 percent
of their produce in the domestic market. In 1993, gold and diamond
mining were opened up for private investors and foreign investors
were allowed to own half

the equity in mining ventures. In 1997, overseas banks and bullion

suppliers were also allowed to import gold into India. These measures
led to the entry of foreign players like DeBeers, Tiffany and Cartiers
into the Indian market.

In the 1990s, the number of retail jewellery outlets in India increased

greatly due to the abolition of the Gold Control Act. This led to a
highly fragmented and unorganized jewellery market with an
estimated 100,000 workshops supplying over 350,000 retailers,
mostly family-owned, single shop operations. In 2001, India had the
highest demand for gold in the world; 855 tons were consumed a year,
95% of which was used for jewellery. The bulk of the jewellery
purchased in India was designed in the traditional Indian style.

Jewellery was fabricated mainly in 18, 22 and 24 carat Gold as Hallmarking was not very
common in India under caratege was prevalent. According to a survey done by a Bureau of
Indian Standard (BIS), most Gold jewellery advertised in India as 22- carat was of a lesser
quality. Over 80% of the jewelers sold Gold jewellery ranging from 13.5 carat to 18- carats as
22- carat Gold jewellery.

24 Carat 100 percent pure gold

22 Carat 91.66 percent pure gold
20 Carat 83.33 percent pure gold
18 Carat 75 percent pure gold
2 Carat 8.33 percent pure gold
1 Carat 4.166 percent pure gold

The late 1990s saw a number of branded jewellery players entering

the Indian market. Titan sold Gold jewellery under the brand name
Tanishq, while Gitanjali jewels, a Mumbai based jewellery exporter,
sold 18- carat Gold jewellery under the brand Gili. Gitanjali jewels
also started selling 24- carat Gold jewellery in association with a Thai
company, Pranda. Su- Raj (India) Ltd. launched its collection of
Diamond and 22- carat Gold jewellery in 1997.

The Mumbai based group, Beautiful, which marketed Tiffany range of

products in India, launched its own range of studded 18- carat
jewellery, Dagina. Cartiers entered India in 1997 in a franchise
agreement with Ravissant. Other players who entered the Indian
branded Gold jewellery market during the 1990s and 2000-01
included Intergold Gem Ltd. Oyzterbay, Carbon and Tribhovandas
Bhimji Zaveri (TBZ).
 BRANDED JEWELLERY
FIRMS

BRANDED JEWELLERY FIRMS:

TANISHQ:

Tanishq is India's largest, most desirable and fastest growing jewelry

brand in India. Started in 1995, Tanishq is the jewelry business group
of Titan Industries Ltd - promoted by the TATA group, India's most
respected and widely diversified business conglomerate. This year
marks a decade of successful innings for Tanishq. With retail sales of
1200 crore last year and gunning for 2000 crores this year, Tanishq
has arrived in the Indian jewelry market. It is a story of a successful
Indian enterprise, which has delivered value to its customers and
shareholders in a complex category, marked by its completely
localized front end as well as back end. Tanishq has set up production
and sourcing bases with through research of the jewelry crafts of
India. jewellery at Tanishq is crafted in one of the world's most
modern factories. The factory complies with all labour and
environmental standards. Located at Hosur, Tamil Nadu, the 1, 35,000
sq. ft. factory is equipped with the latest and most modern machinery
and equipment. Every product at Tanishq is painstakingly crafted to
perfection. Diligent care and quality processes ensure that the Tanishq
finish is unmatched by any other jeweller in the country. Tanishq
challenged the age-old jeweller's word with TATA's guaranteed purity.
It exploded the market with facts about rampant impurity across India.
It introduced technology-backed challenge in a category completely
governed by individual trust. Tanishq introduced innovations like
Karatmeter, the only non destructive means to check the purity of
gold. Tanishq also introduced professional retailing in the dis-
organised Indian jewelry bazaar, where women can shop with comfort
and peace, without worrying about the purity of the jewelry they are
buying, as well as, select from the best jewelry collections available in
the Indian market. Tanishq today is India's most aspirational fine
jewelry brand with 91 stores in 64 cities, with an exquisite range of
gold jewelry studded with diamonds or coloured gems and a wide
range of equally spectacular jewelry in 22Kt pure gold. Exquisite
platinum jewelry is also part of the product range.

Among the branded jewellery players in the Indian market, Tanishq is

considered to be a trendsetter. When it was launched in 1995, Tanishq
began with 18-carat jewellery. Realizing that such jewellery did not sell
well in the domestic market, the 18-carat jewellery range was expanded
to include 22 and 24-carat ornaments as well. When Tanishq was
launched, it sold most of its products through multibrand stores. In
1998, Tanishq decided to set up its own chain of retail showrooms to
create a distinctive brand image.

By 2002, Tanishq retailed its jewellery through 53 exclusive stores

across 41 cities. To meet increasing demand, Tanishq planned to open
70 stores by the end of 2003 and offer a range of 'wearable' products
with prices starting at Rs. 400. With sales of Rs. 2.66 billion in 2000-
01, Tanishq had a 0.66 percent share of the total jewellery market and
a 27 percent share of the branded jewellery market.

GITANJALI:

Gitanjali Group a 5000 crores company, strategically positioning itself

as the leading diamond studded jewellery-manufacturing company,
today has one of the largest fully integrated diamond and jewellery
manufacturing plants in the country. The Group, which has been a
pioneer in the branded jewellery industry, has always been at the
threshold of boosting the production of quality jewellery, which has
obliquely proved to be an excellent, branding and marketing strategy
backed by a formidable retailing network - all ensuring the group an
enviable advantage in the jewellery arena. The Gitanjali Group is
engaged in the business of sourcing rough diamonds, its manufacture,
import and export of diamonds, manufacture of plain and diamond
studded gold and platinum jewellery and its marketing and domestic
retailing. As Jewellery exports form one of the largest contributors to
the foreign exchequers, the jewellery major Gitanjali, is one of
India’s high-end contributors to the foreign exchequer as well as a
major player in the domestic market.

Gitanjali has four decades of experience, being one of the earliest

diamond houses in India. Having received over 50 National and
Council awards from the Ministry of Commerce for outstanding
exports, it is today one of the largest diamond exporting companies in
India. Presently the Gitanjali Group has highly modernized diamond
cutting and polishing facilities at 5 locations in India and globally
diversified manufacturing operations in Bangkok, Vietnam and China
and a marketing network spread across Europe, Hong Kong, USA and
Japan. The very basis of their existence is to successfully develop,
produce and sell high-quality jewellery brands worldwide & helps the
customers in getting the maximum Value for Money in the process.

In 1994, Gili Jewellery was established as a distinct brand by

Gitanjali Jewels, soon after the abolition of the Gold Control Act by
the Indian government. Gili offered a wide range of 18-carat plain
gold and diamond-studded jewellery, designed for the contemporary
Indian woman. The designs combined both the Indian and western
styles and motifs. With sales of Rs.0.14 billion for the year 2000-01,
Gili had a 0.03 percent share of the 400 billion jewellery market in
India and a 1.4 percent share of the branded jewellery market.

Gili distributed its jewellery priced between Rs. 500 and Rs. 40,000
through lifestyle and department stores across the country to increase
accessibility among its target segment, the 15 to 30 age group. The
company's products were also made available through a mail-order
catalogue. In 1997, Gili launched a collection of traditional Indian
ornaments made of 18-carat gold. In 1999, the Gili Gold range was
introduced. This range included rings, pendants, earrings, necklaces
and bangles made of 24-carat gold. All Gili products came with a
guarantee of diamond and gold quality. When research conducted in
February 2000 showed that there was a big gap between the Rs. 1000
and Rs. 10000 price segment and keeping in view the teenage
population, and the kind of pocket money they had, Gili brought out a
collection targeting teens.

In 2000, Gili launched its 'diamond heart collection' targeted at

teenagers and priced between Rs 500 and Rs.2500. The collection was
promoted at college campuses with banners, pamphlets and a few
advertisements targeted at teens. Gili soon realized that just pushing
its product was not enough; it also had to customize its products for
special occasions. Following this, it launched a Diamond Heart
Collection specially designed for Valentine's Day. This collection
consisting of tiny, heart-shaped diamond jewellery was well received
by teens (Refer Exhibit VI). Special packaging, catchy advertising
and extensive press coverage contributed to the success of the
collection. Gili also made special promotional offers during festive
seasons like Christmas and Diwali.

Having captured the low price point market of Rs.2000 to Rs.10, 000,
in 2000, the company focused on penetrating the premium market of
customized jewellery. For this, Gitanjali jewels opened a jewellery
salon, Gianti, to provide customized jewellery to clients in India.

HIGHLIGHTS Q3 FY10:
Jewellery Sales turnover increased by 60% to 1,098 cr. in Q3

FY10
EBIDTA gone up by 44% to 102 cr. in Q3 FY10

Operating Profit registered a growth of 51%, stood at 91 cr.



PAT of Q3 FY10 stood at 41 cr registering an increase of 39%



Gems and Jewellery Sales volume grown to 1812 cr. reported a


growth of 63%

Mumbai, January 30, 2010:

Gitanjali Gems Limited, the flagship company of Gitanjali Group, one

of India’s leading integrated diamond and jewellery retailing and
manufacturing company, announced its results for the third quarter
ended 31 December, 2009 of FY 10.
NINE MONTHS FY10 Vs. NINE MONTHS FY09

 Jewellery Sales turnover increased by 43% to Rs. 2703 cr. as

compared to Rs. 1892 cr. in nine months period FY09
 EBIDTA gone up by 37% to Rs. 307 cr. from Rs.223 cr. in nine
months period FY09

 PAT of nine months period FY10 stood at Rs. 139 cr. as

compared to Rs 120 cr. in nine months period FY09 registering
an increase of 16%

 Operating Profit of nine months period FY10 stood at Rs.283 cr.

as compared to Rs 201 cr. in nine months period FY09,
registering an increase of 41%

Commenting on the Company’s performance in third quarter of

financial year 2010 and business outlook, Mr. Mehul Choksi,
Chairman and Managing Director, Gitanjali Group said,
“Third quarter results are in-line with our focus on extention in the
downstream. Introducing additional and promising jewellery brands
and the focus on retail expansion has further helped in gaining
market share for the group.”

GITANJALI RETAIL BUSINESS

  Gitanjali has strong retail presence in the world’s largest markets
for jewellery. Retail business is a major Contributor in
Gitanjali’s revenue. Gitanjali has over 2000 plus retail outlet
across India and in the process of expansion in tier II and III
cities to cater to new segment of the customer.
 USA is a largest jewellery consuming country and 45% of
worldwide diamond jewellery sales are made in the United
States. In FY 2007-08, Gitanjali made a strategic acquisition in
USA, including Samuels and Rogers, and now has about 137
stores in Centre and across USA, being expanded to 200 stores
in the near future.

 Samuels and Rogers of Gitanjali are the 8th largest branded

jewellery retail chain in US.

 Gitanjali’s integrated supply chain business model has given an

advantage to survive and post profit despite of US recession.

 Gitanjali retail business has spread through all channels and in

all geographies, across all the market segments

 Net Profit has gone up because of shift in market from

wholesale to retail.

RETAIL STRATEGY
 Gitanjali’s strategy is to increase the market share of various
brands and its positioning in the market. Strategy is to generate
demand for branded diamond jewellery in the future
 Gitanjali has also acquired a 76% stake in Salasar Retail and
will roll out multi-format retail stores under the ’Maya’ brand.
The Salasar stake gives Gitanjali Lifestyle 10 multi-storey stores
with 200,000 square feet of retail space in Northern India.

 Flagship product brands of the company are able to convert

themselves into retail brands.

 The group has introduced many promising brands to its bouquet.

The new collection includes World of Solitaire, World of Silver,
ME Solitaire, Maya, Gitanjali Menz, Maya Bridal, Bezel and
many more.

INDUSTRY
 Overall Gold and jewellery industry is estimated to be about
USD 35 billion, out of which 12-15% is constituted by diamond
jewellery market. i.e. USD 4 billion, 10% of which is branded
jewellery market accounts for USD 500 million
 Overall Industry is growing at the rate of 15-18% and where as
share of diamond jewellery is growing at 18-20%

 Out of 10 leading gems and jewellery brands in India 6 of them

are under the Gitanjali umbrella. Share of branded diamond
 jewellery in India is growing by 25-30% and therefore, share of
Gitanjali growing at that pace.

 In modern retail, Gitanjali holds 65-70% market share

 These industry dynamics has compounding effect on the growth

of the Gitanjali Gems.

D’DAMAS:

D'damas is one of the most popular jewellery brands in the country

today with a presence in over 159 towns and cities. A joint venture
between Gitanjali Gems and the Dubai based Damas Group; D'damas
is a sub-brand that combines international quality with Indian values.

D'damas' vast variety of brand allows every customer a choice of

jewellery to reflect her personality, tastes and to suit every occasion. It
has gold and diamond studded jewellery matching various lifestyle,
occasion and price points that cater to diversified customers.
D'damas is committed to the highest levels of customer satisfaction,
and every piece of jewellery comes with a special certificate of
authenticity assuring of both the diamond and gold content of the
piece. D'damas jewellery is accompanied with an IGI certificate &
Hallmarking, a world renowned, further certifies the diamonds, which
is headquartered in Antwerp.

Each sub-brand under D'damas offers stylized and contemporary

designs, conceptualized and created by an in-house team of award
winning designs.

Their strength in design has been recognized repeatedly with D'damas

designers having won a number of design awards.

UNBRANDED JEWELLERY
UNBRANDED JEWELLERY:

The share of unbranded jewellery market in India is still more than

90% of the total jewellery market branded and unbranded.

There are some specific shops of unbranded jewellery in Mirzapur

like Shambhu ji jewelers, Jewar kothi etc. the public trust more on
these.

There are some small shops also like Priya jwellers, Alankar abhushan
bhandar, the middle class families often purchase from them.
DATA TABULATION,
ANALYSIS

&
 INTERPRETATION

DATA TABULATION

ANALYSIS AND INTERPRETATIONS:

In this chapter, consumer perception about different jewellery brands,

their market shares among buyers in Gomtinagar area was analyzed.
As the first phase of this study, data were collected from 70
Respondents. In the next phase the information collected from the
Respondents were analyzed regarding the various factors influencing
consumer perception about different jewellery brands like Age, Sex,
Occupation, Jewellery segment, Jewellery type, Retail shops, Trust,
Buying decision in the family and their preference.

GENDER WISE CLASSIFICATION OF JWELLERY

BUYERS

Table 1:

GENDER NO. OF PERCENTAGE

RESPONDENTS
MALE 36 51.43
FEMALE 34 41.57
Inference:

Out of 70 respondents 36 respondents are male and 34 respondents are female.

AGE WISE CLASSIFICATION OF JWELLERY BUYERS

Table 2:

Age Limits No. of Respondents

BELOW 20 15

21-30 28

31-40 24
41-50 1

ABOVE 50 2

Inference:

Out of the 70 respondents’ age of 15 respondents are below 20, 28 respondents are
21-30 age group, 24 respondents are 31-40 age group, 1respondent is 41-50 age
group, 2 respondents are between the age group of above 50.
OCCUPATION WISE CLASSIFICATION OF JWELLERY
BUYERS

Table 3:
OCCUPATION NO. OF RESPONDENTS

STUDENT 17

BUSINESS 14

SERVICE 18

HOUSEWIFE 21

Inference:

Out of 70 respondents 17 are students, 14 are doing business, 18 are in service,

and 21 are housewives.
SEGMENT WISE JWELLERY BUYERS

Table 4:

SEGMENT NO. OF RESPONDENTS PERCENTAGE

GOLD 40 57.14

SILVER 10 14.30

DIAMOND 15 21.43

PLATINUM 4 5.71

A.D 1 1.43

OTHERS 0 0
Inference:

Out of 70 respondents 40 respondents buy gold, 10 buy silver, 15 buy diamond,

4 buy platinum, 1 respondents buy A.D. and none for others.
TYPE WISE CLASSIFICATION OF JWELLERY BUYERS

Table 5:

TYPE OF JEWELLERY NO. OF RESPONDENTS

BRANDED 70

UNBRANDED 30

Inference:

Out of 70 respondents, 49 respondents prefer branded and 21 respondents prefer

unbranded jewellery.
RETAIL SHOP WISE CLASSIFICATION OF JWELLERY
BUYERS
Table 6:

RETAIL SHOP NO. OF RESPONDENTS %GE

UNBRANDED 17 24.29

BRANDED

TANISHQ 23 32.86

GITANJALI 8 11.43
D'DAMAS 17 24.29

OTHERS 5 7.14

Inference:

Out of 70 respondents 23 respondents used to go Tanishq, 8 go to Gitanjali, 17

prefer to go D’Damas, and 5 respondents used to go other branded shops.
TRUST OF PEOPLE ON THE TYPE OF PRODUCT

Table 7:
TYPE OF PRODUCT NO. OF PERCENTAGE
RESPONDENTS
BRANDED 51 72.85

UNBRANDED 19 27.14

Inference:

Out of 70 respondents, 51 respondents have trust on branded jewellery

whether 19 respondents have trust on unbranded jewellery.

DECISION AFFECTED BY THE RESPONDENTS'

FAMILY MEMBER'S FOR BUYING A JWELLERY
Table 8:

MEMBER’S OF FAMILY NO. OF RESPONDENTS

MOTHER 25

FATHER 18

SPOUSE 16

OTHERS 11

Inference:

Out of 70 respondents on their family member decision for buying a jewellery,

they are- Mother 25, Father 18, Spouse 16, and others 11.
SAMPLING:
Total 70 respondents have been interviewed and the data have been
collected. The area of study has been restricted to Mirzapur area. Total
70 respondents were selected at random for the purpose of the study.

FRAME WORK OF ANALYSIS:

A study of Consumer perception about different jewellery brands,

their market shares has been made through questionnaire method. 70
respondents were selected randomly and asked to answer the
question. Based upon their answers the classification of respondents
was done and was analyzed and interpreted. Percentages and chi-
square test was used while analyzing and interpreting the data.

SOURCES OF DATA:

The study is based on primary data and secondary data. The required
information was collected through the questionnaire from the
consumers directly by interviewing them.

STATISTICAL TOOLS USED:

A simple statistical tool such as percentage, two-way table and chi-

square test was employed for the purpose of analysis of data.

FINDINGS
 I. 70 out of 70 respondents admitted that they buy jwellery.
II. 40 respondents buy Gold, 10 respondents buy silver, and 15 for
diamond, 4 purchase platinum, and 1respondent buy a.d., none
for others.
III. Branded jewellery buyers are 49 whether 21 respondents
purchase unbranded jewellery.
IV. In the branded jewellery segment Tanishq is high in demand
opted 23 respondents, D’Damas is on no. second chosen by 17
respondents, Gitanjali is on no. third with the support of 8
respondents, and 5 respondents go to others branded jewellery
firms.
V. 51 respondents do trust on branded jewellery and 19
respondents have trust on unbranded jewellery.
VI. The purchasing decision of the jewellery in respondents’ family
members varies from person to person. 25 respondents’ mothers
buy the jewellery, father purchase jewellery of 18 respondents.
16 respondents their spouse purchase jewellery, and at 11
respondents’ home, jewellery purchase by others.
VII. Between “21-30” age group purchase jewellery most.
VIII. Housewives are the leading jewellery buyers with 21 out of 70
respondents.
IX. 36 respondents are male and 34 respondents are female.

SUGGESTIONS
 In the current era all the branded companies are concentrating
only on the females but males are also trendy now so, the
companies should also promote male gems and jewellery.
 As the above concluded that the age group between 21-30 are
the high rate of jewellery buyers, and a new jewellery firm can
gain more by producing the new age jewellery with keep eyes
on the current fashion trend.
 A franchise of Tanishq can give more return to a new born
jewellery seller.
 Gold is used most in metals so may make sense to invest in
gold.
CONCLUSION

CONCLUSION
 40% of the respondents are between 21-30 age group and they
purchase the jewellery most.
 Housewives are more interested to buying jewellery.
 Each and every person is willing to buy jewellery.
 Gold consumers are more rather than other metals.
 70% of the respondents purchase jewellery from the various
branded shops.
 30% of the respondents use unbranded jewellery from the other
local shops.
 Tanishq is highly preferred brand with 32.86% of the
respondents.
 72.85% of the respondents have trust on the branded jewellery.
 LIMITATIONS

LIMITATIONS

1. The all secondary data shown above cannot be exact in figures.

2. All of the secondary data are taken by the internet sources and
this was not possible to show current status.

3. Due to short time of period this was not possible to collect more
primary data.

4. Because I live at Mirzapur City and here is very less number of

unbranded shops even not a big one so there is not much
information about unbranded jewellery shops.

5. This report is not showing branded vs unbranded or their purity

assurance.
 BIBLIOGRAPHY

BIBLIOGRAPHY

Books:

1. C.R. KOTHARI: “RESEARCH METHODOLOGY”

2. S.P. GUPTA: “STATISTICAL METHODS”

SULTAN CHAND AND SONS

NEW DELHI

INTERNET SOURCES: WWW.GOOGLE.COM

MAGZINE AND JOURNALS: 1. OUTLOOK INDIA

2. BUSINESS LINE

3. RESEARCH JOURNALS
 ANNEXURE

Name :

Age :
Sex :
Occupation :

QUESTIONNAIRE
1. Do you buy jewellery?
A. Yes B. No
2. Which type of jewellery segment do you mostly prefer?

A. Gold B. Silver C. Diamond

D. Platinum E. A.D F. Others

3. Which type of jewellery you mostly prefer?

A. Branded B. Unbranded

4. Among which of the following retail shops you prefer to buy?

A. Unbranded local jewellery shops
B. Branded jewellery shops
 Tanishq
 Gitanjali
 D’Damas
 Others
5. Do you trust on the purity of the product from the shop you
buy? If yes whether it is-
A. Branded retail shops
B. Unbranded local shops
6. Who in your family mostly takes the decision on buying
jewellery?
A. Mother
B. Father
C. Spouse
D. Others
7. Told me against brand that you are aware about the jewellery
market
 A. Gili
B. Gitanjali
C. D’dams
D. Others
8. Do you think branded products are better and more reliable
than non branded products?
A. Yes
B. No
9. Do you think branded products are better and more reliable
than non branded products?
A. Braded Jewellers
B. Traditional Jewellers
9. How many Carat gold are you Wear.
A. 18 Carat
B. 20 Caret
C. 22 Caret
D. 24 Care
10. Where do you prefer to buy the jewellery from (for gifting)
A. Showroom
B. Non Showroom
11. Does your consumer ask for any specific brands.
A. Yes
B. No
11. When do you plan for buying Jewellery.
A. Wedding Time
 B. Festivals
C. Off Time

SYNOPSIS

“Gold jwellery is often envisioned as a symbol of wealth and status.

Interestingly, buying gold jewellery is also one of the best ways to invest
hard earned money. Vibrant looks, equisite design and the impeccable
style, innate to well crafted gold jewellery, make it nothing short of a
treasure. Gold jewellry is a striking piece of art and the aptly described as
poetry in metal.”
 TOPIC OF THE PROJECT: Consumer perception about different
jewellery brands, their market shares.
 PROJECT OBJECTIVES:
1. To find consumer scale who are wearing
jewels from the various brands available in
market.
2. To find dominating player of this industry
and rivals.
3. To find market share of local brands and
different branded firms.
4. Comparison between local and branded
jwellery regarding their market share,
acceptability and popularity.

 METHODOLOGY:
 Types Of Research:- Exploratory Report
 Types Of Data To Be Collected:- Primary Data
 Primary Data Collection Method:- Survey
 Primary Data Collection Techniques:- Personal Interview,
Questionnaire
 Sample Unit:- Mirzapur
 Sampling Techniques:- Simple Random Sampling

 RELEVANCE OF THE PROJECT: This project will provide help to

an entrepreneur who is going to start his career in jwellery field
(especially in Gold) and can evaluate him through the figures.
Thank You