The Gem and Jewelry Export Promotion Council will soon exhibit its recently launched Anant diamond Jewelry with the `Made-in-India’ tag in West Asia. A good response can be seen in the domestic market.
The Anant diamond will be introduced in Dubai by April, but it has been delayed due to the recent financial crisis, said Mr Sanjay kothari convener of promotion, marketing and business development at GJEPC. The jewelry will be launched in July.
Already the council has spent Rs 9 crores for the promotional activities including advertisements and refurbishing retailer’s outlets.
Actor Sonam Kapoor has been set as a brand ambassador said Mr Kothari. Retailers enjoy the benefit as the council will take care of the promotional expenses.
Rs 11 Crore Corpus
The Gem and Jewelry Export Promotion Council has formed a corpus of Rs 11 crore with retailers chipping in with rs 4 lakh each and manufacturers Rs 10 lakh each and the council will set aside Rs 2 crore for the promotional activities.
As De Beers cuts its promotional activity in the country, the council will promote the diamond jewelry in September said Mr Kothari.
GJEPC has created a new brand Anant Diamond Jewelry by bringing together the top 100 retail jewelers GRT, Khazana Jewelers, Joy Alukkas, Reliance, Tanishq, Orra, TBZ, Rio Tinto, Anmol Jewelers and Carbon.
Diamond Shortage
The rough diamond process have been risen in the past few months after the production cut of the miners such as De Beers, BHP Billiton, Rio Tinto and Alrosa due to the economic downturn and financial constraints. Recently, De Beers reveals a statement that it has reduced its first quarter production by almost 90 per cent in 2009.
The De Beers Diamond Trading Company (DTC) has raised the prices of rough diamonds by 5 and 10 % since March, said the Mumbai based jeweler. Most of the Indian DTC sight holders were worst affected as prices of smaller roughs being supplied to the Indian market were raised between three and seven %.
