Kirti Ornaments launches new brands

Kirti Ornaments, part of the $200 million Dimexon group, hopes to corner five per cent market share in the branded diamond jewellery segment by end-2006.

"The diamond jewellery market is around Rs 5,000 crore in size and the branded jewellery segment is around eight per cent of the total market size. Through its brands, Kirti is hoping to capture around five per cent of the organised market," explained Shaunak Shastree, business development manager, Kirti Ornaments.

"The company has also targeted a 35 crore turnover in 2004-05 against Rs 28 crore in the previous year. Exports are expected to be to the tune of Rs 4 crore," he explained.

Kirta would export to countries with expatriate Indian population in the first phase.

Shastree said, "Kirta has 32 channel partners. This number is expected to rise to 50 by April 2005".

Kirti Ornaments launched two new brands - Kumkum and Nityah - here Tuesday.

According to Shastree, 'kumkum' has been an intrinsic feature of the Indian face, and is considered holy and pure.

Nitya was forever, reflecting timeless values and that was the essence of the brand Nitya, he added.

The company has tied up with United India Insurance for insurance against theft and loss through a group policy.

The cover would be provided free to clients in the first year. The company would supply a novel authentication card with every product to guarantee authenticity and quality.

Shastree said Kirti would spend around 10 per cent of its turnover on brand building and awareness creation. It would try to create awareness on authentication of jewellery and diamonds.