The CEO, jewelry division at Titan on the luxurious jewelry model Zoya, its retail enlargement and advertising technique.Zoya, Titan’s luxurious jewelry model, is now eyeing enlargement. By the tip of the 12 months, it plans so as to add 2-3 unique boutiques and about 4-5 galleries. The model goals to be current within the high 9 Indian cities by the start of subsequent 12 months. As of July 2022, Zoya has 5 boutiques in Bengaluru, Mumbai, Delhi and Gurugram, and 6 galleries in Ahmedabad, Kolkata and Chennai. In FY22, Zoya added one retailer, Tanishq launched 36 shops, CaratLane added 31 shops and Mia by Tanishq opened 10 shops. Tanishq, CaratLane and Mia by Tanishq – Titan’s different jewelry manufacturers – handle particular markets. Mia by Tanishq provides modern jewelry, whereas CaratLane provides fashionable jewelry at inexpensive costs. Tanishq is Titan’s flagship premium jewelry model. Zoya focusses on luxurious diamond and valuable stones jewelry. Ajoy Chawla, CEO, jewelry division, Titan, says that Zoya is for these girls who’re well-travelled, have achieved quite a bit in life, and reached a stage the place they’re discovering their artistic and female self.“This is mirrored within the model’s journey by way of the collections that it creates or the patented cuts and finishes that it brings. Zoya gives customised experiences to its prospects in our shops, at occasions or house,” provides Chawla.Usually an HNI, she is searching for a product that’s fairly distinguished by way of craftsmanship and design. Through the pandemic the model has seen a development the place prospects are searching for significant jewelry. Hence, Zoya’s focus is on creating significant items of wearable artwork for its viewers.What makes Zoya totally different from most western luxurious manufacturers is that it’s as a lot about inclusivity and heat as it’s about indulgence, mentions Chawla.Being a model that caters to excessive net-worth people (HNIs) and extremely HNIs, Zoya competes with not solely different luxurious jewelry manufacturers, but in addition designers who wager huge on customisation and offering personalised experiences.Chawla factors out that the jewelry panorama in India has all the time been fragmented and unorganised. “The (particular person) designers are doing their very own piece and are interacting with their very own clientele. However, there are tons of and 1000’s of HNIs within the nation. So, the model doesn’t want to fret about who we are going after and who our rivals are chasing.”Elaborating on the aggressive panorama, Chawla says that there are lots of gamers within the Indian market, just like the household jewellers, who cater to a particular clientele. There are designers as effectively, however hardly any manufacturers. “So, in a method, we are the one model. We are additionally crafting jewelry to the very best worldwide requirements. Our prospects examine our designs to among the largest manufacturers on the earth, like Cartier and Graff,” he says.With its footprint and buyer base rising, Zoya is now spending extra money on promoting and advertising, particularly ATL advertising. Chawla informs that the model has turn out to be extra lively on its digital platforms. It has scaled up the variety of personalised and curated occasions, as part of its experiential advertising technique.While Zoya goals to have a sturdy digital media presence, social media is extraordinarily risky and tends to draw numerous opinions. On how the model is its social media advertising technique, Chawla says that social media permits for numerous set of views. Very typically, these are unknown entities. There might be sharpness in what they are saying and the way folks react, resulting in polarisation.“As a model, we attempt to avoid polarisation, particularly on views which can be associated to politics, faith or ideology. Right now, we are utilizing social media to showcase our collections.”These days, most classes are leveraging the ability of e-commerce to increase their client base and attain out to audiences far and vast. However, for jewelry manufacturers, e-commerce might not be a super channel of distribution due to its contact and really feel nature.As per Chawla, within the luxurious jewelry section, full on-line purchases are extraordinarily uncommon. This is due to the excessive ticket values (of jewelry items) and luxurious not being an impulse buy class. There aren’t frequent reductions or provides accessible, and it’s a well-considered buy. A buyer would ideally spend fairly a little bit of time, work together with the shop workers and bodily attempt on the items earlier than making a purchase order.
https://www.afaqs.com/information/mktg/on-social-media-we-avoid-political-regional-polarisation-titans-ajoy-chawla
