Business Plan Sample: Diva

Imitation Jewelry Business in India

executive summary

The jewellery sector in India summons entrepreneurs due to its stability and a vigorous profits on return. India is world over praised on the magnificent work of its artisans and craftsmen. Export of jewellery was over 2 billion US dollars in 2011. The banking sector along with the policies and regulations of the Government in India support the jewellery sector somewhat. The Indian diamond industry has received up to $3 billion by about 50 banks. More over, it is expected that the Indian economy will have a diamond exchange as well. The planet Gold Council indicates that India may be the largest consumer of gold! In 2009, India’s gold consumption, (mostly jewellery) was down 33% to 480 tonnes as compared to 712. 60 tonnes in 2008. India continued to keep up its 2nd position in the third quarter-ended 2009 aswell and accounted for 20. 87% of the total gold consumed all around the globe. The growth in exports of gems and jewellery sector has been primarily driven by the Cut & Polished Diamonds (CPD) segment over time. CPD exports grew from $7. 11 bn in FY03 to $13. 02 bn in FY09. Though, this particular segment has always shown optimum export with regards to gems, but in recent times, gold jewellery shows a promising rise in exports from about 16% in 2007 to approximately 33% in '09. It has been noted that Indian jewellery includes a well established market demand in america, Hong Kong, UAE, Israel, Japan, Thailand and even Belgium. On the import front, Europe has been the biggest importing destination for India followed by Middle East, Oceania and Asia. This being the scenario it is quite evident that the profitable sector to get and connected with is the Indian jewellery sector. NextBigWhat (2013) states that the domestic market for gems in addition to jewellery is approximately INR 1, 200 crores and only 1 percent which is sold on line. Most on line sale is of imitation jewelry alternatively (NextBigWhat 2013). Another exemplory case of impending success is the Chennai based on line jewellery retailer Caratlane which had raised total of $27 million from Tiger Global in three rounds. Last month, the US based VC firm pumped $15 million in Series C, earlier Tiger Global invested $12 million in two series. The gold and diamond sector is heavily invested in. The region of imitation jewels with sterling silver and semi precious stones is in popular abroad and also among Indian women. It really is true that chunky gold will will have a place in bridal wear; however women are increasing interested in contemporary lighter pieces.

Earlier in the day India witnessed a slow growth in retail sector as the classes of India were not flexible enough to look at the western trend, the training was less prevalent and the income levels were low but today it had been at the boom with lot of International and National brands to arrive. With the changing times the concept of malls, hypermarkets, supermarkets have become more frequent and people would rather hang out at such places very usually. Hence with the growing demands and consciousness the buyer has started looking towards the idea of branded goods. With this large amount of malls are coming in since the consumers are adaptable towards it and they supply them with all the daily offerings.

In rural India the most preferred metal for jewellery is the silver. People wear all sorts of conventional jewellery manufactured in silver in rural elements of India. India sells silver in Bulk in rural parts of India. This metal is also prominent among the youths teenage who view silver as the affordable metal for fashion. The low medium class segment also prefers this metal generally in most of their jewellery collections particularly the ornaments for legs, armlets and for the toe rings.

Considering the growing potential of Indian retail and the growing economy which is fuelled up with the other facets like the upsurge in the per capita incomes, increased urbanization, changing tastes and preferences and the growing young population, you can forecast the positive growth prospects in imitation jewellery.

Company description

Diva is an upcoming jewelry outlet for the present day 21st century woman. This is a store that combines conventional and contemporary designs to cater to the growing dynamic female of India. Diva uses silver, gold, rhodium and platinum in the jewelry. The jewelry has many themes and styles from Asian and classic Indian to western styles.

Mission

To produce an environment with a committed team of talented professionals who will continue steadily to build on the heritage and standing of Diva for trust, craftsmanship, innovation and market leadership.

Vision

To be the first choice for imitation jewellery purchase in India.

Ownership

Diva is a partnership of three people. It's the property of three. As aspiring entrepreneurs we have stepped in the jewelry business. Other than certain international brands, there is really no strong local India brand which women from all walks of life can approach. Diva is going to be launched in New Delhi and another in Ahmadabad the hub for the organization India and craftsmen. It's now as sprawling as Mumbai nor too elitist as Bangalore. With an increasing urban area, Diva is going to be situated in the mall allowing a wide audience when inaugurated. Ambience Mall, more popularly referred to as AMBI mall could be the mall goers’ delight. All the renowned brands have their retail outlets in the premises of the mall. The mall timings from 9: 00 to 10: 00 will also be the shop timings.

POSITIONING STATEMENT

To sophisticated women, Diva can be an elegant, chic choice to sparkle and create a direct effect to make your mark.