Indian diamond jewellery firm Kama Schachter is all set to expand its retail footprint in the country for its Kama Jewellery range, which was introduced into the Indian diamond segment earlier this year.
The company, one of the Asia’s largest manufacturers and exporters of diamond jewellery, is exploring to add more retailers for two of its private label brands, Kama Love to 300 from the present 70 and Kama Platinum to 350 from the existing 90.
The proposed retail penetration is expected to be complete in the next three years, reported Economic Times.
Kama Schachter managing director and CEO Colin Shah said Kama Love and Kama Platinum brands have done a business of around Rs. 100m ($1.8m) and Rs. 130m ($2.3m) respectively against the target of Rs.350m ($5.4m) for the first year.
"The first phase of the launch had focused on targeting premier retailers all over India. We are looking at a growth of almost 60-70% on year-on-year basis," Shah added.
Targeted at weddings, Kama Love is a collection of couple bands that carries a strategic positioning in fast emerging couple bands category in India and contributed to nearly 4% of the firm’s total B2B business.
Kama Platinum, which is introduced in contemporary design with pure, rare and eternal metal as an option for ‘gift of love’ has contributed about 5% of the business.
The acceptability for both the brands is fast emerging in the country, with new retailers enrolling more in number for the programme, the website reported.
Diamond jewellery major Kama Schachter to expand retail footprint
KOLKATA: Kama Schachter, one of Asia’s largest manufacturers and exporters of diamond jewellery, plans to expand its retail footprint in India. The company expects to have at least 300 retailers for Kama Love and 350 retailers for Kama Platinum in a span of 3 years.
The company has made its entry into the Indian retail diamond segment through its premium offering ‘Kama Jewellery’ earlier this year. Branded under ‘Kama Love’ and ‘Kama Platinum’, these private label brands have witnessed encouraging acceptance amongst the Indian masses, with a steep growth gradient.
Mr Colin Shah, MD & CEO, Kama Schacter said: "With a target of Rs 35 cr each for the 1st year, Kama Love and Kama Platinum have successfully done a business of approx. Rs 10 cr and Rs 13 cr respectively. The first phase of the launch had focused on targeting premier retailers all over India. We are looking at a growth of almost 60-70% on year-on-year basis."
Kama Love is a collection of couple bands and is targeted at weddings. Kama Love enjoys a differentiated product positioning since couple bands as a category is emerging gradually in India. Kama Platinum introduces the pure, rare and eternal metal in contemporary designs as an accessible option as a ‘gift of love’.
With a wide network of over 70 retailer stores for Kama Love and 90 retailer stores for Kama Platinum, the brand acceptability is emerging fast with many new retailers enrolling for the programme.
In the last four months, Kama Love has contributed to almost 4% whereas Kama Platinum has contributed to almost 5% of the total B2B business of Kama Schachter. In terms of market share, Delhi is doing considerably well in terms of the highest number of repeat orders for Kama Love collection, whereas, Chennai is leading the charts for Kama Platinum.