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Online jewellery cos look to login good sales this Diwali

Source : PTI
Last Updated: Sun, Oct 28, 2012 09:48 hrs
A woman checks a gold waist belt inside a jewellery shop on the occasion of Akshaya Tritiya festival in Hyderabad

With online shopping becoming popular due to changing lifestyle, e-commerce companies active in jewellery segment hope to almost double their sales this Diwali season.

"During the Diwali season last year, we saw around 1,500 transactions. This Diwali season we are targeting around 3,000 transactions," CaratLane Vice President Marketing Calvin John told PTI here.

CaratLane.com, founded in 2008, is an online jewellery retailer of diamonds, solitaire, gold jewellery and coins.

While the sales broadly grew across collections during this time last year, the company saw a marked interest in its Diva and Gemstone collections, he added.

"This year, we are seeing a huge demand for our 2,500 BC Beaten Gold Collection, Gems of the Nizam Collection as well as the La Naturale Gemstone Jewellery Collection."

Dhanteras and Diwali, falling on November 11 and 13 respectively, are considered auspicious for buying precious metals.

Leading branded jewellery retailer Gitanjali Group, which entered the online segment recently, is expecting up to 40 per cent growth in sales during the festive season.

"We have entered into the online segment recently. We are witnessing a good spurt in sales this month and expect 30- 40 per cent growth in revenue this year," Gitanjali Group Chairman and Managing Director Mehul Choksi said.

Popular items during the period are coins, small jewellery in addition to wedding collections as the marriage season falls immediately after the festivals, he said.


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