Smaller jewelers plan tie-ups to form umbrella brands
07 Jun '07
1 min read
To cope with the competitive pressure from big and major jewelry retailers smaller units have decided to collaborate and work together, following a common marketing scheme.
With changing times the consumers have shifted their focus from family jewelers to branded products like Gili and Tanishq. This trend is more prominent among younger lots, adversely affecting the smaller independent jewelers in the country.
This new strategy will improve product supply via common sourcing, inturn enhancing the trade capability of smaller dealers.
Dharmesh Sodah, Director, World Gold Council, explained at a press meet, “Jewellery retailing has to be perceived as a focused marketing activity as the concept of loyal customers is a myth. With the entry of new players and competition from other sectors, there is a need to retain existing customers and attract new ones.”
Sources inform that to adopt this proposed policy about 4-5 jewelers from the city would form a single umbrella brand and indulge in common advertising and promotions.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
