Chennai, Aug 4: Thailand-based Pranda Jewellery Public Company (PCL), a world class manufacturing and distributing branded jewellery company, on Monday, August 4 announced introduction of 24 carat gold jewellery, for the first time in India.
Addressing a press conference here, Mr Prida Tiasuwan, Chairman, Pranda Group, said "Pranda will be the first jewellery company to bring 99.9 per cent pure gold jewellery to the Indian market." He said the company was launching two of its globally renowned brands 'Prima Gold' and 'Prima Art' in South India. Prima Gold was an innovatively designed high-class 24 carat pure gold and Prima Art was a premier 24 carat handcrafted gold sheet art work, designed in devotional and lifestyle series for the Indian market.
"India being the biggest jewellery consuming market in the world and also left untapped for 24 carat gold jewellery, is an obvious choice for the company to enter into," he said.
As India had manufacturing facilities upto 22 carat gold jewellery, Pranda would utilise its exisiting manufacturing facility in Thailand to make 24 carat jewellery for the Indian market, he said.
The company was, however, open to set up its manufacturing facility in India, he added.
He said the company had outlined exclusive brand availability modules in the existing Trusted Retail Jewellery (TRJ) network and drawn out plans to have a pan India presence in three years.
It planned to achieve a sales of 50,000 pieces of Prima Art and 300 kgs of Prima Gold per annum, he said.
The company proposed to set up 300 Prima Jewellery shops and earn a revenue of Rs 300 crore by 2010, by investing a sum of Rs 100 crore on brand building and other infrastructures, Mr Tiasuwan said. As there was a shift in the buying patterns among the Indian consumers, branded jewellery had gained acceptance and trust, he added.