InfoAnda - India's gold retailers jump on the 'brandwagon'

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

China will agree to new UN sanctions against Iran: Biden | 23 April 2010
Malaysia calls for measures to halt oil price fixing | 7 June 2010
Supporters await news of Iran stoning woman | 10 December 2010

S.Lanka's ex-military chief declares presidential run | 30 November 2009

Forum Views () Forum Replies ()

Read more with google mobile : India's gold retailers jump on the 'brandwagon'

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Asia Pacific World India's gold retailers jump on the 'brandwagon' AFP - Monday, December 14 Send IM Story Print Indian customers buy gold jewellery at a shop in New Delhi. Indians, the world's biggest buyers of gold, are increasingly opting for branded jewellery, attracting franchisers and foreign groups like Cartier at the expense of traditional retailers. NEW DELHI (AFP) - – Indians, the world's biggest buyers of gold, are increasingly opting for branded jewellery, attracting franchisers and foreign groups like Cartier at the expense of traditional retailers. Traditionally, most Indians would go to their small family jewellers, normally located in a congested wholesale market, sit down on cotton mattresses with the jeweller and pick out some items. The process worked on trust built up in some cases over generations between buyer and jeweller, who would mostly offer products from artisanal designers and producers from his area. Nowadays, young Indians are opting for brightly lit showrooms with marble floors, glass display cases and professional salespeople -- preferably at a company whose brand name implies social status and wealth. "There is a tectonic shift in the business now. If you want your gold jewellery business to survive -- brand it and advertise," said Sandeep Kulhali, vice president of Tanishq, one of India's oldest branded retail jewellery chains, owned by the Tata conglomerate. Tanishq opened their first outlet in 1994 and now have 117 showrooms across the country. "Earlier it was difficult to convince consumers to buy branded gold," said Kulhali. "These days they come to us expecting better services, premium quality, exchange policy and attractive offers -- like buying jewellery on a monthly installment basis," he added. Amit Bumb, director of Avenue Montaigne, India's largest branded jewellery retail outlet, suggests the shift towards brands reflects social changes, but also new ways of viewing gold. The precious metal is traditionally given to brides at the time of marriage as a store of wealth providing financial security. "There is a shift in consumer tastes: working women in the 20 to 32 age group regard jewellery as an accessory and not just as an investment," Bumb told AFP. "It is in this market that the brand names work." Some of the most famous companies in Western jewellery such as DeBeers, Tiffany and Cartier have also moved into India since 1997 when overseas banks and bullion suppliers were allowed to import gold. They are drawn by the enormous size of the market, rising incomes and the fracturing relationship between buyers and traditional family jewellers. According to the International Monetary Fund, about 15,000 tonnes of gold are privately held in India. Demand remains strong despite new records being set for the price of the metal on an almost daily basis. Premium international brand Cartier launched their plush showroom in New Delhi in 2008 and also operate through a strong dealer network to sell their jewellery and watches in India. "We are happy with the response from buyers in India," said a saleswoman at the Cartier store in Delhi, who said customers were drawn to the fact the high-end brand stood out from its Indian competitors. A study released by the Bullion Association of India in March 2009 stated that the share of branded jewellery in the total market was growing at a pace of 20-30 percent annually. The number of gold retailers in the country has increased by 40 percent since the year 2000, with 150 domestic and over 65 international established brands, the study said. Faced with the changing dynamics, traditional jewellers are looking to jump on the "brandwagon" by investing in advertising and trying to build a presence in the minds of consumers. Traditional jewellers like Notandas & Sons in the western city of Mumbai and P.C. Jewellers in New Delhi have signed up Bollywood heroines as brand ambassadors and also lend their products to contestants in beauty pageants. "I am branding my entire business to save it," said Ritesh Jain, who inherited a family bullion trading and retailing business started by his grandfather in Mumbai. Jain has revamped everything under the brand name "Auro Gold." "We are now a professionally managed, transparent gold retail and wholesale company," he said. Jain says he has spent over 300,000 dollars to renovate the shop's showroom, train the staff, and create an image that retains a sense of familiarity for the old loyal customers and attracts new buyers. "We have an advantage -- we enjoy the trust factor, people know us. Now they just have to accept our new professional image," he said. Gold analyst Ravi Choksi says that as the industry professionalises the smaller brands will face a tough challenge from the retail arms of conglomerates like Tata and Reliance. Reliance has opened 14 jewellery stores in 13 Indian cities since 2007 and says it will launch showrooms in various other cities and towns across the country. "They have solid backing and resources to run the business from the parent company," he said, adding that some brands will have to find niches while others might have to move out of the saturated urban centres to rural markets. Recommend Send IM Story Print Related Articles `Avatar' joins tradition of the Hollywood colossus AP - Tuesday, December 15 Golden Globes nominations launch Oscars race AFP - Tuesday, December 15 History miniseries takes on the Kennedys Reuters - Monday, December 14 Downey's "Sherlock Holmes" an action hero Reuters - Monday, December 14 NBC launching "Chuck" game Reuters - Monday, December 14 News Search Top Stories Citi to repay $20 bln in plan to exit bailout Dubai to pay debt with $10 bln Abu Dhabi handout Koalas, penguins at risk of extinction: study Cadbury says rejects 'inadequate' Kraft takeover bid Dubai to pay debt with $10 billion Abu Dhabi fund More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Top British banker admits 'mistakes' on bonuses Dubai to pay debt with $10 billion Abu Dhabi fund Tiger Woods' girlfriend apologizes in TV interview Fed likely to dampen speculation on early exit US jobless rate 'could rise further' More Most Viewed » Global stocks mixed amid Dubai debt crisis Tiny magnetic discs could kill cancer cells: study Virgin unveils spaceship to offer space tourism Tiger Woods' girlfriend apologizes in TV interview Dubai blackout over debt plans to hit Gulf markets More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Monday, 14 December 2009
Israel funnels millions of dollars to settlements
Catalans vote in symbolic independence referendum
Campaign mocks treatment of Iran student leader
Leaders strike deal on Sudan democratic reforms
Berlusconi bloodied by hit to face, says he's fine |
Supreme leader says Iran's opposition violates law
US jobless rate 'could rise further'
Greek economy minister urges immediate reforms
With Gaza cease-fire, south Israel blossoms
Israel expels Jewish seminary from army deal |
Houston is first major US city to elect gay mayor
Iran's Khamenei issues stern warning to opposition
Iran's president pledges support to Hamas leader
PLO set to extend Abbas term as Palestinian leader
300 stuck temporarily on Disney World monorail
Turkmenistan-China pipeline to start Monday
`Princess and the Frog' hops to No. 1 with $25M
Nobel-winning economist dead at 94
NKorean weapons seizure could affect nuke talks
S Philippines grapples with crisis after crisis
Politics dominate Calif education reform effort
Turkmenistan-China gas pipeline to open Monday
Authorities: Rottweiler mauls, kills Fla. toddler
Thaksin back in Cambodia as Thai "spy" to be freed
Senator says opposition grows to Medicare buy-in
Taiwan fishermen 'fall victim to climate change'
Houston biggest US city to elect openly gay mayor
Senate to vote on $1.1 trillion spending bill
US-ENTERTAINMENT Summary
Disney's Princess charms weekend moviegoers |
Disney's "Princess" charms weekend moviegoers
Reggae star Buju Banton facing drug charge in Fla.
`Princess and the Frog' hops to No. 1 with $25M
Gunmen storm Afghan police post, kill 8: governor
Italian protester breaks Berlusconi's nose |
Italy's Berlusconi in hospital after attack
2009: the Year of Twitter and Facebook
Afghan war decision toughest of presidency: Obama
Fed likely to dampen speculation on early exit
Russia cuts gas to Armenia after bomb found: report |
Greece waits for its financial medicine
Accenture ends relationship with Tiger Woods
Afghan air strike wreaks more havoc in Germany
Nanomaterial used in cancer tests, medicine delivery
Conservative favored in Chile presidential run-off |
Mobile phone English lessons a hit in Bangladesh
Timeline of Iranian, North Korean nuclear programs
Decades-old dioxins pollute river, divide US community
Israel votes new funding for settlements
Democracy referendum plan heats up Hong Kong politics |
Kurds, Turkish nationalists clash in Istanbul
Low turnout in Catalan independence referendum |
Myanmar rebels grow more opium to buy arms: report |
Brown in Afghanistan vows new push to defeat Taliban
Iraq: No time to act after US tip before blasts
Kurds, Turkish nationalists clash in Istanbul |
Saudi opposition petitions for vote after floods
China blocks Sun TV signal in content crackdown |
Israel okays millions of dollars in aid to settlements
Highlights of UN resolution against NKorea
Thais extend North Korean arms cargo crew's detention
AP INVESTIGATION: Monsanto seed biz role revealed
Google to produce, sell own Nexus One phones: report |
US mulls Predator strikes in Pakistani cities: report
Kidney donor's night-before-surgery poem
Accenture ends relationship with Tiger Woods |
Nurses are key to matchmaking in kidney swap
Hardline Pakistani schools a draw for foreigners
Apple fires back at Nokia in patents battle |
Avalanche fears, clouds hamper search for climbers
Cambodia frees convicted Thai spy
Lieberman resists Medicare buy-in plan
Crew of NKorean weapons plane in Thai court
Venezuela's Chavez sees U.S. 'threat' over Iran ties
Plane crew held for 12 more days over weapons haul
Obamas join stars for Christmas benefit concert
Obama: Expect no more White House gate-crashers
Woman executed in China over child prostitution
China might not take climate change funding: FT
UN: 2 UN hostages freed from Darfur
Weather forecast for the Asia-Pacific region
46 injured in pileup of about 50 cars in Conn.
Johnny Depp can't get used to winning awards
Seoul shares turn up on Dubai news; builders rise
Toyota to start selling plug-in hybrids in 2011
Mercedes-Benz sees China sales up 15 pct in 2010
Korea Hot Stocks
Confidence up at Japanese manufacturers
Obama's brother turns down film role
Pakistan
Johnny Depp can't get used to winning awards
Japan's business confidence grows: central bank
Seoul shares turn lower; KOPEC jumps on debut
History miniseries takes on the Kennedys |
Taiwan dollar near flat in thin trade, eyes stocks
`Precious,' `Up,' `Hangover' make AFI top-10 list
Downey's Sherlock Holmes an action hero |
S.Korea Nov ind power demand growth at 8-yr high
L.A. critics honor Iraq war movie Hurt Locker |
Luxury travel business bounces back
NBC launching Chuck game |
`Hurt Locker' wins LA Critics' best-picture prize
Hundreds of Indian languages struggle to survive
Big US box office kiss for Disney's 'Frog Princess'
US-TECH Summary
EU warms to Oracle-Sun deal
Detained Americans to be tried in Iran: minister |
Insurgent foe's slaying shows cracks near Baghdad
Koalas, penguins at risk of extinction: study
Hi-tech, eco-friendly dream home takes shape in Japan
U.S. forces chief warns of Afghanistan fight |
Gunmen kill 16 police in Afghan ambushes
Jackson, Boyle and Tiger transfix in 2009
Cadbury says rejects 'inadequate' Kraft takeover bid
Bin Laden: symbolic icon in impenetrable fortress
Dubai to pay debt with $10 billion Abu Dhabi fund
Turk PM calls for unity after Kurdish party ban |
Pakistan seeks clues on jailed Americans |
Iran says makes arrests over torn Khomeini picture |
Will Ecuador drought dry up Correa's popularity? |
Motorized bar stool from DUI case fetches $1,125
DNA map shows pandas may lack meat taste buds
Katrina recovery was test of ability to adapt
Beijing cuts broadcaster's signal amid media crackdown
EU warms to Oracle-Sun deal |
Iran to put three US hikers on trial
Accenture ends relationship with Tiger Woods |
Democracy "referendum" plan heats up HK politics
Boxer's opponents capitalize on 'ma'am' exchange
U.S. envoy says no timetable yet for North Korea talks
Gaps in DNA databanks have led to tragedy
NBA launches Web, mobile sites for fans in India |
Pakistan police probe Americans in terror case
NATO: Top US defense official visits Afghanistan
Accenture marks 1st sponsor to cut ties with Woods
Protest widens against creation of new Indian state
Clinics help people represent themselves in court
Philippine troops kill one militant after jailbreak
Obama to meet with bankers, then Lebanon's leader
Cambodia frees Thai 'spy' after pardon by king
26 operations, 13 kidneys: hope to few with little
16 policemen killed in 2 attacks in Afghanistan
Korean derivative funds rebound sharply; risks eyed
Toyota aims to roll out plug-in Prius in two years
`Avatar' joins tradition of the Hollywood colossus
China unveils landmark Turkmenistan pipeline
Coal still king in China, despite climate pledge
India inflation hit 4.8 percent in November
S.Lanka set for record current account surplus
Confidence grows at Japanese manufacturers
Golden Globes nominations launch Oscars race
India's gold retailers jump on the 'brandwagon'
History miniseries takes on the Kennedys
Downey's "Sherlock Holmes" an action hero
NBC launching "Chuck" game
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01