The acceptability of franchising as a business model of operation has grown in India over the past decade. Starting at a slow pace, franchising in jewellery is expected to flourish in the coming times. Tanishq is the leading franchise company in India. Companies like Eros, Orra, Tanishq, Sia Art Jewellery, and Cygnus, etc, have already adopted franchising as an expansion model. Orra has opted for franchise model. The consumer must experience brand in totality and franchising is the best way to expand in a set pattern. Eros jewellery has expanded in a big way by opening 65 more franchise showrooms in the country within a year. The group has approximately 85 outlets all over India. Gitanjali is the largest manufacturer and retailer of jewellery in India. The company has in place a large retail set up, which includes 26 exclusive distributors across the country, around 620 outlets including those in host stores, five stand alone stores and 17 franchised stores in 30 cities and towns. It continues to be a leading diamond processor in the world. Titan’s jewellery arm Tanishq presently has six company-owned boutiques, 29 franchise boutiques and 18 service centres. Pallazzio, a 13,000 sq. ft store at Crossroads, the mega shopping and recreation mall at Haji Ali in Mumbai, is billed as India’s first multi branded, multinational, one-stop centre for jewellery, watches and accessories. Pallazzio is managed on a franchise basis where the mother company provides the systems and products while the franchisee enjoys the advantage of being a local entrepreneur. Jewellery franchising has emerged over the years as a preferred option for investing money in. Entrepreneurs invest in a jewellery franchisee outlets because buying jewellery is one of the favourite shopping activities among the Indian women.
Tribhovandas Bhimji Zaveri Ltd. now Announces TBZ Franchising Opportunity
Ever since its existence since last 150 years, Tribhovandas Bhimji Zaveri Limited (TBZ), a well-known and trusted jewellery retailer in India, invited franchisees to be a part of its jewellery retailing business. Through the TBZ franchising opportunity, entrepreneurs can open ‘TBZ-the original stores across India and retail the brand’s product which includes over 20,000 in-house designs. TBZ Ltd. intends to open franchisees in cities across India where it is not present at present through its exclusive brand outlets (EBOs). At present, TBZ Ltd. has 28 EBOs stores in 22 cities across 10 States including Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh, Kerala, Seemandhra, Telangana, Rajasthan, Jharkhand and West Bengal. Recent Government policies such as the elimination of the 80:20 Rule for gold imports are also conducive to growth and progress of the sector.
The franchising strategy has been formulated by the management to address the ever-increasing demand from a growing number of customers across geographies who aspire to own jewellery from TBZ. Every franchisee store will showcase latest designs of all new collections and will offer the same standardized shopping experience to customers as TBZ-The Original EBOs. The new franchisee showrooms will have elegant interiors and customers will be given personalized attention and customized services. Every showroom will offer a wide array of innovative and attractive jewellery designs with an added attraction of custom-made products. TBZ Franchising Opportunity comes with various benefits such as extensive industry driven expertise, guidance at every step and widespread cost-effective marketing at low investment costs.(Source:http://timesofindia.indiatimes.com/city/lucknow/Tribhovandas-Bhimji-Zaveri-Ltd-announces-TBZ-franchising-opportunity/articleshow/45926003.cms )
Tata Group’s Mia to spread its shine via franchising
Tata Group’s jewellery division, Tanishq, will open up to 25 standalone stores of its sub-brand “Mia” by 2016. Mia was launched by Tanishq in 2011. Almost all stores will be franchisee run .Out of the 25 stand-alone stores; eight-nine stores will be opened in this fiscal year.
Mia is targeted at working women. At present, there are three Mia stores in Mumbai, Bengaluru and Pune. The Mia collection takes its inspiration from the unexplored finesse in the cross-sections of sliced luscious fruits. At the heart of every piece of Mia jewellery is the unrivalled lustre of fruits. An expression of modern luxury,each product forms an independent piece and tells its own little story. Colour stones like Mint Amethyst, Pink Amethyst, Lemon Topaz, Beer Quartz, Smoky Quartz and more were used to add diversity to the collection.
Jewellers look to franchisees to expand retail footprint
Branded jewellers are looking at the franchisee route to expand their retail footprint, a strategic turn prompted by the volatility in gold prices and erosion of margins over the past two years. Rajesh Exports, Gitanjali Group,TBZ – the Original, PN Gadgil Jewellers and others have opted for this route to grow their businesses as the margins in plain gold jewellery have tumbled to 4% from 15-20% two years ago. Higher rentals,which push up the operational cost,also figure among also figure among the reasons for choosing the franchisee route, according to jewellers. The latest entrant in the franchisee business is the Mumbai based TBZ (Tribhovandas Bhimji Zaveri) – the Original. “In today’s world, the brand has to make an effort to go to customers and franchising model is a global tactic to deepen penetration and explore newer markets as said by Prem Hinduja, CEO of TBZ.(Source:http://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/jewellers-look-to-franchisees-to-expand-retail-footprint/articleshow/45973324.cms )
To conclude, with a middle class population, India will be one of the biggest markets for the premium brands that will also push the concept of branded jewellery in India. With sustained economic growth in India and youthful population with rising disposable income and global outlook, jewellery is no longer perceived as investment only. It is now emerging as a fashion accessory. The liberalisation of gold imports will help make India a global hub for manufacturing gold products, while the establishment of a gold trading centre will generate revenues, increase employment and stabilise the trade. In nutshell, the future of jewellery franchising appears to be quite bright and is expected to grow tremendously in the coming years.