Mumbai, Apr 18 (UNI) For the first time in the country, a branded jewellery- 'Ishtaa,' will offer lifetime gurantee for every piece sold and 85 per cent of the sale price as buy-back offer.
Announcing the launch of the jewellery- a joint venture of Emerald Jewel Industry India Pvt Ltd and Clarity Gold Pvt Ltd, here today, Mr K Srinivasan, Managing Director of Ishtaa Gold jewellery, said the Ishtaa centres would also look after repairs for the customers free-of-cost empowering the customer to maintain the jewellery at a one-time expense for a long period.
Mr Srinivasan said both the companies would be investing about Rs five crore in Ishtaa over a period of time.
"Offering pure 18 karat gold jewellery studded with Cubic Zirconia stones from Signity (a company of Swarovski and Golay) at prices ranging from Rs 1,000 to Rs 20,000, the idea is to bring to the Indian customer beautifully crafted, lightweight jewellery at really affordable prices," said Uday Goel, COO of Ishtaa.
"The range will initially be launched in Maharashtra, Karnataka and Tamilnadu and within a year be made available across the country. By the end of the first year after launch, Ishtaa expects to hold 10 percent of the branded jewellery market share estimating to Rs 1,000 crores," Mr Goel said.
Speaking on the occasion, Sanjeev Agarwal, Managing Director of World Gold Council, said, ''The jewellery market in India has been growing at the rate of 20 percent while that of the branded jewellery market has been growing at 40 percent annually. There is high potential for the branded market players with the changing taste and customer demands.'' "While the consumer prefernces in India are changing, the jewellery market is fast adopting the changing trends and tastes," he said.
Ishtaa is initially launching four types of jewellery, namely daily wear, office wear, party wear and traditional wear to cater to the present market demand.
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