KCCMS Project Report: - Consumer Behaviour PROJECT REPORT OF CONSUMER BEHAVIOUR COMPARISON BETWEEN GILI & TANISHQ ON DIAMOND PRODUCTS Table of Content GILI V/S TANISHQ 1. INTRODUCTION 2. HISTORY 3. MARKET SCENARIO Page no. 1 KCCMS Project Report: - Consumer Behaviour 4. DIAMOND SPECIFICATIONS 5. COLLECTIONS 6. BRAND AMBASSADORS 7. OUTLETS 8. SERVICES 9. POINTS OF DIFFERENCE BETWEEN GILI & TANISHQ 10. EXPANSION 11. MARKET SHARE 12. MARKETING STRATEGIES, SALES & DISTRIBUTION 13. COMPETITION 14. ACHIVEMENTS 15. WHICH BRAND ACCORDING TO ME IS BEST & WHY? 16. IF I WERE IN POSITION TO ADVICE THE COMPANY TO INCREASE SALES, WHAT I WOULD HAVE SUGGESTED? 17. SOURCE OF INFORMATION 18. QUESTIONNAIRE V/s 1. Introduction Page no. 2 KCCMS Project Report: - Consumer Behaviour About Gitanjali Group: Gitanjali Gems Ltd (GGL), Established in 1966, is one of the earliest diamond houses in India. GGL is the only company, which retails some of the reputed brands like Gili, Nakshatra, Asmi and D'Damas thru its arms and associates Gili was the first branded jewellery introduced in India. Gitanjali Group, integrated diamond and jewellery manufacturer and retailer. Gitanjali Gems Ltd today said the company has acquired the Mumbai-based Gili India Ltd (GIL), strategically positioning itself as the leading diamond studded jewellery-manufacturing company; today has one of the largest fully integrated diamond and jewellery manufacturing plants in the country. Gitanjali Group is engaged in the business of sourcing rough diamonds, its manufacture, import and export of diamonds, manufacture of plain and diamond studded gold and platinum jewellery and its marketing and domestic retailing. The very basis of their existence is to successfully develop, produce and sell high-quality jewellery brands worldwide & helps the customers in getting the maximum Value – For – Money in the process. It has two modern diamond manufacturing facilities located at Borivali in Mumbai and at the Special Economic Zone at Surat in Gujarat. It also has a large sophisticated jewellery designing and manufacturing facility at the SEEPZ and two jewellery manufacturing facilities at MIDC all in Andheri, Mumbai. For branded jewellery, GGL has established a large retail setup, which includes 26 exclusive distributors across India with around 620 outlets including those in host stores, five standalone stores and 17 franchisee stores in 30 cities and towns in India. For its future growth, the company is expanding its production capacity by setting up additional diamond and jewellery manufacturing facilities in Mumbai and in the proposed Gems and Jewellery Special. About Tanishq: Page no. 3 KCCMS Project Report: - Consumer Behaviour Tanishq is India's largest, most desirable and fastest growing jewelry brand in India. Started in 1995, Tanishq is the jewelry business group of Titan Industries Ltd - promoted by the TATA group, India's most respected and widely diversified business conglomerate. This year marks a decade of successful innings for Tanishq. With retail sales of 1200 crore last year and gunning for 2000 crores this year, Tanishq has arrived in the Indian jewelry market. It is a story of a successful Indian enterprise, which has delivered value to its customers and shareholders in a complex category, marked by its completely localized front end as well as back end. Tanishq has set up production and sourcing bases with through research of the jewelry crafts of India. Jewelry at Tanishq is crafted in one of the world's most modern factories. The factory complies with all labour and environmental standards. Located at Hosur, Tamil Nadu, the 1, 35,000 sq. ft. factory is equipped with the latest and most modern machinery and equipment. Every product at Tanishq is pain stakingly crafted to perfection. Diligent care and quality processes ensure that the Tanishq finish is unmatched by any other jeweller in the country. Tanishq challenged the age-old jeweller's word with TATA's guaranteed purity. It exploded the market with facts about rampant impurity across India. It introduced technology-backed challenge in a category completely governed by individual trust. Tanishq introduced innovations like Karat meter, the only non destructive means to check the purity of gold. Tanishq also introduced professional retailing in the dis-organised Indian jewelry bazaar, where women can shop with comfort and peace, without worrying about the purity of the jewelry they are buying, as well as, select from the best jewelry collections available in the Indian market. Tanishq today is India's most aspirational fine jewelry brand with 91 stores in 64 cities, with an exquisite range of gold jewelry studded with diamonds or coloured gems and a wide range of equally spectacular jewelry in 22Kt pure gold. Exquisite platinum jewelry is also part of the product range. USP: Pure Jewellery, Pure Joy 2. History In 1994 the Gitanjali group introduced India’s first ever branded jewellery Gili. Rated as a super brand, the brand still ranks as one of the top ten jewellery brands in the country. Over the years the group has launched many other superior brands and today it successfully manages over five of the ten best-known jewellery brands in India. Page no. 4 KCCMS Project Report: - Consumer Behaviour Gili’s primary brand value is “Genuine diamond and gold jewellery at affordable prices”. The first jewellery brand that brought diamond jewellery within the reach of masses. Tanishq was born in 1995 after the Tata Group decided to spread its wings and embrace the branded jewellery segment. It was set up as a division of Titan, the group company that had transformed the Indian watch-making industry. Internationally, watches and jewellery have a sturdy synergy and are often retailed out of the same store, with design being a key driver in both categories. It made sense for a watch company with a strong retail presence to look at its next wave of growth from the jewellery segment, which had a huge potential. Tanishq had a high-profile launch, but its initial production was restricted to the 'studded' jewellery segment. Its strategy changed soon after to accommodate the Indian preference for buying gold jewellery. Tanishq then tacked to a mix of studded and gold jewellery and went in for a fusion-design approach. Its initial methodology of using western designs changed as it sought a wider market. This revised strategy was initiated in the year 2000, when a new management team took over and turned around Tanishq's fortunes. 3. Market Scenario • Gili Jewellery, an 18 karat diamond studded brand, was launched in 1994. This ushered in the birth of branded jewellery in India. A radically new concept, it is a range of branded diamond jewellery for the masses. Gili offers pendants, earrings, rings in 18-carat gold studded with small, well-cut, good quality diamonds, as matching sets or by themselves; in a variety of designs that boggle the imagination. It is simply high quality, diamond-studded, designer jewellery at prices Page no. 5 KCCMS Project Report: - Consumer Behaviour The Gili range was launched as more `wearable'jewellery, as opposed to the kind you stored in your `locker'. "We wanted the college going generation and office-goers to be able to wear our jewellery without constantly worrying about its safety," says Sangani. Today, Gili offers 18-karat plain and diamond stud jewellery, which is suitable for daily wear. Indians, especially women, have a fascination for jewellery that goes back centuries. One manifestation of this continuous love affair with body ornamentation is the fact that Indians are the world's biggest buyers of gold. The market for jewellery in the country is second only to that for foods and the trade is built around so-called family jewellers - the relatively small, stand-alone establishments that are ubiquitous across the land. Tanishq belongs to the House of Tata and, true to the group's policy; it aims at bringing in credibility and professionalism to the jewellery industry. India’s jewellery market is estimated to be worth Rs. 400 billion a year and the share of the organized sector - jewellery stores and brands managed by corporate houses - stands at about Rs. 10 billion. This small but significant niche is largely the creation of Tanishq, a path-breaking effort that has earned a well-deserved reputation for reliability and excellence, and for introducing pioneering concepts in an industry where tradition once ruled. The brand has a 40% share of the organized jewellery market and a 1% bite of the overall jewellery pie (Source: World Gold Council and Mckinsey study 2003). There are more than 300,000 independent, non-branded jewellery retailers in India. The vast majority of these are singular entities that function out of individual cities, though a few have expanded to acquire a state-wide presence. By and large, they offer conventional Indian designs and are difficult to pin down on quality, since standards within this segment vary considerably. 4. Diamond Specifications Cut, Color, Carat & Clarity The 4Cs are used throughout the world to classify the rarity of diamonds. Diamonds with the combination of the highest 4Cs ratings are rarer, and consequently more expensive. Light is the element that ignites a diamond's brilliance and fire. Its interplay with each of the 4Cs will help explain why Page no. 6 KCCMS Project Report: - Consumer Behaviour one diamond can appear more beautiful than another. The good news is that you don't need to buy the rarest diamond to find one whose beauty speaks to you. Cut is the only one of the 4Cs of diamonds that is influenced by the human hand. The rest (color, clarity and carat) are created naturally as diamonds form in the earth. At Tanishq we ensure that the most ideal cut diamonds are used, so that the facets when arranged in precise proportions maximize brilliance and sparkle.