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Valentine Day market potential swells to Rs1,200 cr

Feb '07
Valentine's Day market today has become an astounding Rs1,200 crore worth of serious business for marketers, as it is registering a growth of 20-25 percent year-on-year, according to estimates.

Major sales for V-Day accrue from jewellery, watches, cards, flowers and other trinkets, with marketer's of mobile phones, m3 players, laptops, gaming consoles and even financial products joining the bandwagon, sensing marketing potential in leveraging V-Day to position their brand.

The initiative by HDFC Bank to offer a 2.5 gm personalized heart-shaped gold bar of 99 percent is a strategy to relate to consumer.

“Through our services, we want to occupy space in customer's life by virtue of credibility and send across the message that we care for them. It's not just the partnership between the loved ones but between us and them too that is as pure as our gold bar,” says HDFC Bank Vice President-Marketing, Ajay Kelkar.

Luxury brands account for 8 percent of the love market, compared to 4 percent two years ago. Resurgence of Indian economy has also facilitated V-Day gift-giving of luxury brand, says luxury brand advisor, Ruchita Sharma.

Hugo Boss, the global market leader in the upmarket men's and women's clothing segments, has introduced a special Valentine's collection of striped shirts, dark denims, mother of pearl cufflinks and stylish scarves.

The company is also offering consumer an opportunity to avail exclusive couple'streatment at Club Oasis Spa, Grand Hyatt, Mumbai on minimum purchases of Rs20,000.

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