Retail rules Jewellery industry

New Delhi, July 7 (UNI) Retail having dominated most of the businesses will now make its presence felt in the jewellery segment with the coming in of players like Reliance Retail, Pantaloon and Walmart.

Speaking at the launch of JCK New Delhi 2007, a jewellery and watch exhibition, Reed Exhibitions Chief Operating Officer Mandeep Singh said, ''The event is aimed at promoting B2B interaction and deals. This year, special emphasis will be given to retail as we are witnessing a trend of increased sales of branded jewellery.'' A study by McKinsey projects branded jewellery demand to touch 100 billion dollars by 2010.

The jewellery market has also expanded with increased purchases in platinum and stone-crafted jewellery, he added.

According to a study done by Reeds, the jewellery sector was worth Rs 490 billion in 2005 and has seen a 30 per cent growth rate over the past few years.

The sector has also seen an increase in branded and organised retail selling of jewellery with players like Ddamas, Gili and Geetanjali coming in.

The sector is poised for more competition with coming in of retail giants like Reliance, Pantaloon and Walmart. Gold Bazaar, a Future Group member, is expected to launch about a 1,000 stores across the country, Mr Singh said.

The event, in its second year in the country, is an extension of the 16-year old JCK Las Vegas edition and aims to bring together the stalwarts of the industry to interact and facilitate business.

UNI