By Sreekumar Raghavan
KOCHI,INDIA (Commodity Online): India’s direct selling market which is witnessing a huge growth now has a major diamond jewelry manufacturer trying to promote its own branded diamond jewellery, through the time-tested multi-level marketing (MLM) mode.
P & S Jewellery Ltd which supplies diamond jewellery to leading jewelry retailers like Tanishq , Joy Alukkas and jewelries in Middle East are promoting their branded jewellery, Tahira through MLM route in India. The company has production facilties in Mumbai, Bangalore and Surat apart from a modern facility at Bangkok, Thailand.
Vipin Sankhe , Managing Director of Tahira Lifestyle Pvt Ltd and Ashwin, Director(Marketing ) who were here to attend a function to promote franchisees here said that the firm has applied for Indian Direct Selling Association (IDSA) membership and is expected to be inducted by 2012. The Tahira brand is also certified by International Gemological Institute.The retail jewelery stores cater to the upper middle class and wealthy people while Tahira is aimed at middle class as the jewellery range starts from Rs 8700 to Rs 28,900 although higher priced pieces are also available.
The main advantage of promoting diamond jewellery through MLM route is that it provides business opportunity on a part-time or full time basis for a large number of people while consumers get to feel the product and learn more about it in an informal environment, Tahira promoters said. The promotional event in Kochi has evinced keen interest among jewelry enthusiasts, they said.
India’s direct selling industry is witnessing an explosive growth and in 2009-10, it recorded 24% growth at Rs 4120 cr of which organised sector accounted for Rs 3750 cr and unorganised sector Rs 370 cr, according to IDSA. IDSA has at present 18 members which is mainly constituted by home care, consumer products and healthcare products.
IDSA-Ernst & Young study has forecasted India’s direct selling industry to attain Rs 7,100 cr turnover by 2012-13 and Tahira Lifestyle looks set to benefit from this growth, analysts said. The brand promotion of Tahira will also not hurt its existing business with leading diamond jewelry retailers as they are not setting up retail chains.
Over three million people in the country are involved in direct selling activities.
