Kirti Ornaments unveils risk-free jewellery

The Mumbai-based Kirti Ornaments Pvt Ltd (KOPL), a part of the Dimexon Group, has become the first Indian diamond retailing entity to introduce jewelleries with insurance cover.

Shaunak Shastree, business development manager, KOPL, said, "We have entered into a strategic tie-up with the United India Insurance Company following which all diamond jewelleries irrespective of their pricing would be sold with a one-year insurance cover. This would help customers to file claims in case of theft, decoity or chain-snatching. We will not charge anything extra from our customers for the insurance premium but they would be paying a premium for insurance cover from the second year, if they are interested to extend the insurance cover."

KOPL, which had this week launched four diamond jewellery brands in select cities, is in the process of a national launch. KOPL, which is one of the sight holders of Diamond Trading Corporation (DTC) in India and also makers of the Nakshatra and Asmi brand diamond jewelleries for DTC, is putting up a marketing network in 50 locations through channel partners.

It has finalised 32 such partners in 23 cities, targeting to woo the Indian women with the Mehendi, Rangoli, Kumkum and Nityah brands. These brands were unveiled in Gujarat on Wednesday.

These brands would be sold with an insurance certificate along with a third-party certification and a maximum retail price (MRP) labelled with the product.

Shastree said the four brands are targeted to various regions in India with the consumers living in different regions have varying tastes for jewelleries. KOPL is targeting to generate sales of Rs 80 crore during the next one year from these brands.

"We have conducted a survey before entering the retail segment seriously. We have noticed that consumers in eastern India has a preference for diamond jewelleries with artistic designs and hence we have conceived Kumkum targeting women in eastern parts of India. As people in northern and western India prefer flashy and loud jewelleries, we have the Mehendi range for them. For the consumers in southern India, KOPL will sell the Rangoli brand which looks like traditional," he said.

The diamond jewelleries under the Nityah brand, however, will be sold nationally as 'these are basic and timeless jewelleries.'

"The Nityah range which will be costly and the price can go up to Rs 50 lakh for single piece as it is mainly targeted on consumers who use jewelleries from generation to generation and also want to buy diamonds as an investment. Though there has been a sudden splurge of branded diamond jewellery in India which is a healthy trend, our concern is that most of the brands are catering to audiences with westernised tastes and we have chosen motifs from Indian customs that gives one the feeling of being attached to one's roots," said Shastree, who was in Ahmedabad to launch the ranges and also finalise KOPL's channel partners for Gujarat.

KOPL, which has its manufacturing facility at Coimbatore, will also be targeting the expatriates with these four new ranges. At present it is talking to an international retailer for selling the new products among expatriates.

"We want to focus on the Indian market at this juncture with the branded diamond jewellery industry showing steady growth with recording around 24 per cent growth per year while we are also targeting the expatriates. There is no immediate plans for exports," he said.