Reliance Branded Jewellery Retail Outlets- Have they Succeeded?

Reliance Industries

• India’s largest private sector company value, with an annual turnover of US$45.09 billion and profit of US$3.6billion.

• Ranked at 264th position in the Fortune Global 500 and at the 126th position in the Forbes Global 2000.

• 1 out of every 4 investors in India is a Reliance shareholder.

• Reliance Retail Ltd. is the subsidiary of the RIL.

Contd….

Vision •With a vision to generate inclusive growth and prosperity for farmers, vendor partners, small shopkeepers and consumers, Reliance Retail Limited (RRL), a subsidiary of RIL, was set up to lead Reliance Group’s foray into organized retail.

Mission •Enriching Indian consumer’s shopping experience and providing quality merchandise at an attractive value proposition.

Reliance Retail

RELIANCE JEWELS

Reliance Retail Branded Jewellery

• First store was launched in November 2007.• Investment of about Rs.120 million.• Jewellery collection has been assimilated from

different parts of India.• Reliance is the second corporate after the Tatas to

enter the Rs 70,000 crore Indian jewellery industry.• Brand ambassador.

Contd…• In Gold jewellery

Kolkata Filigree

Rajkot minakari jewellery

Kundan from Jaipur

Temple jewellery from Kerala

Jadau from Amritsar

all are 100% BIS hallmarked.• Its diamond jewelry ranges from daily wear to party wear and and

is certified by an international certification laboratory.• They’re sourcing jewellery from regional kaarigars across the

country as well as design houses, so their collection will cater to all occasions

Competitors

JOY ALUKKAS World’s favourite

jeweller

TATA JEWELLERY(Jewellery is not a product but a piece of art, and shopping for

jewellery is an exalting experience)

ROSY BLUE More than diamonds

Strategies

Corporate strategy

Reliance pursued a strategy of backward vertical integration - in polyester, fibre intermediates, plastics, petrochemicals, petroleum refining and oil and gas exploration and production - to be fully integrated along the materials and energy value chain

Business strategy

• Adhering to core Reliance business Jewels' strategy of expansion through saturation.

• Focus on the mid-market segment.• More branded jewellery retail outlets within 2 to 3

years.

• Promotion scheme.

Functional strategy

•As an introductory offer, Reliance plans to waive making charges since gold prices have just hit an all-time high.

•One floor of the store is reserved exclusive for bridal collection sets.

Future of Reliance Jewels

• Tie-ups with gems and jewellery manufacturers and exporters majors, Gitanjali Group, Intercontinental Gems and Rosy Blue Group.

• Reliance Retail is investing Rs 25,000 crore in its retail foray with WGC-World Gold Council to boost retail demand of gold in India.

• With the increasing trend of customized jewellery they are looking forward to more interactions with customers to create personalized designs.

• They aim to create a jewellery collection that is not cheap and mass produced but as rare and unique as each of their customers.

Conclusion

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