LIME 5 Challenge “Marketing Strategy and Plan for global sales of Italian jewellery brands of GITANJALI GROUP “
Team ‘MONKS’ – NITIE, Mumbai (NIIE8240) Anshuman Singh 9819917626
[email protected]
Deepanshu Sharma 9819917636
[email protected]
Komal Motwani 9930381878
[email protected]
Problem Statement and Our Approach Problem Statement • Creation of marketing strategy and plan for global sales of Italian brands in USA, China and Middle East • Development of Brand Gitanjali as one of the leading luxury jewellers • Devising CSR plan to build its image as socially responsible corporate Understanding Jewellery Industry
International
competitive scenario – USA, China and Middle East Trends and Strategic Insights
Understanding Gitanjali
Business Overview Key Strengths and Issues Italian Brands Overview
Secondary Research Sources Euro monitor reports KPMG report Gitanjali website, Italian brands’ websites Media publications
Preparing Strategy Base
Country wise strategy fit mapping World retail formats analysis Our Proposal
Strategy Execution Plan New luxury Store BRAND (La Elegancia) Brand Identity Creation Promotion Strategies Distribution Indian Brands’ Global Strategy
CSR Initiative Plan Primary Research to identify social issues Identification of top issues CSR activities and execution
Primary Research Sources Gianti Mumbai store visit Telephonic interviews in USA (NRI -3 Male, 1 Female, 1 Family) and UAE (2 Male, 1 Female) Online surveys (41 Respondents) - For CSR
Understanding Jewellery Industry International Market, Trends and Insights
Jewellery Industry – SNAPSHOT
USA Cartier 1.2% Pandora 1.6% Zales 1.7% Jared the Galleria 1.7% TiffanyInternet and 2.5% Home Kay Jewelers 3.4%
Mid East
China Joyalukkas Ming Jewellery 2.4% Luk Fook 2.5% Lao Miao 3.2% Lao Feng Xiang 4.7% Shopping are Difference between Chow Big Tai Fook 6.2%
Pure Gold… Tiffany & Co Cartier
2.8% 3.1% 3.2% 6.1%
CAGR Damas important marketing channel Jewellery by Value and Volume 0%Specialist 2% 4% 6%heavily 8%suggest 0% 10% 20% 30% 0% 1% 2% 3% 4% dominate thegrowth marketprospect in significant higher priced99.6 jewellery i.e. Store based Retailer: 99.5 Store based Retailer: Store based Retailer: 87.1 Internet: 0.2 Internet: 0.2 premium and luxury segment Internet: 5.8 Home Shopping : 5.2 Jewellery Specialist: 42.9
Home Shopping : 0.2 Jewellery Specialist: 42.3
Forecast Growth Real Jewel (CAGR) Forecast Growth Real Jewel (CAGR) Non Specialist Retailer major By Value(2012-17) : 2.3 Byare Value(2012-17) : 13.3 to sales. By Volume(2012-17) :contributor 1.8 By Volume(2012-17) : 10.5 Gitanjali • 104 store of Samuels • Key brands in over 500 retailer
Gitanjali • Distribution in 50 retails • Exclusive Stefan Hafner & Nouvelle Bague Store
35.5% 40%
Home Shopping : 0.0 Jewellery Specialist: 81.1
Forecast Growth Real Jewel (CAGR) By Value(2012-17) : 9 By Volume(2012-17) : 2.5 Gitanjali • 4 stores including Nakshatra • Indian jewellery in over 50 store
Trends and Insights- USA Industry Trends
Strategic Insights
Rising orientation towards retro glamour look, colored stones and statement pieces Celebrity endorsed/inspired collections : Fashion labels such as Ralph Lauren entering business
Jewellery is being treated as a fashion extension
HIGHLIGHTS American men becoming more comfortable wearing and purchasing jewellery for themselves • Mature and developed market for jewellery
Rise of metro sexuality has bring in new target consumer for jewellery industry
• Little scope for traditional jewellery, Market driven by fashion Shift in orientation from specialist retailers to mass are inclined to go forConsumers want “Value for money “ and • Unless branded , consumers cheapest deals merchandisers , online retailers and home shopping are indifferent towards purchase medium if andforare lessprice loyal brands Increasing demand lower andto greater convenience the brand is not popular With loosening social structure , Jewellery sales is shifting from an event centric phenomenon to a self purchasing activity
Gifting culture is giving way to individuality and self-indulgence
White gold becoming more prominent as it highlights the stone better Colored gems , platinum and white diamond still a popular choice for engagement rings
Consumers are open to experimentation and equally prefer all metals as long as they contribute to “Jewellery aesthetics”
Trends and Insights- CHINA Industry Trends - Strong Gift Exchange Culture – Cross generations and vice versa -China witnessing Highest number of weddings in history - Peak sales volume during Chinese spring festival, valentines day
- Purchase motives – Ornamental, Financial and Social status - High style consciousness and low brand consciousness - Healthy sales in spite of recession
Strategic Insights Jewellery Consumption is driven by Gifting Culture in China
High concern towards Outward (Social ,design) satisfaction than Inward (individuality)
- Middle and old aged Chinese – Preferred towards Gold - Young Chinese – preference towards Platinum and Diamonds, consider gold as a vulgar metal
Fragmented jewellery choice that varies with generations and occasions
- Increased consumer confidence fueling Online Retail growth - Consumers still Skeptic of High value online purchase
Customers Receptive to new mediums if enough assurance and credibility is attached
Trends and Insights- CHINA Industry Trends -Domestic player dominance and their dependency on gold and traditional jewellery - Rising liking and awareness towards contemporary designs and forms (colored stones) - Rising trend of premiumisation amongst domestic players due to its increasing acceptance HIGHLIGHTS - Rising ability of customers to differentiate between product qualities
Strategic Insights Domestic player’s inclination towards traditional jewellery leaves a Strategic Gap to fulfill rising demand for contemporary and alternate jewellery forms
Healthy ecosystem for premium/luxury product shaping up and is expected to increase over time
• Healthy market for traditional as well as contemporary jewellery • Traditional jewellery sales are event centric • Perceived superiority of Western luxury brands, rise of luxury -Rising cross border purchases due to perceived quality Relative ease of adoption amongst Chinese differences in Hong Kong, USA and Europe jewelry ecosystem of international brands - Rising inclination towards international travel due to increasing • Online and physical stores need to coexist to be successful affluence
Trends and Insights- MIDDLE EAST Trends
Insights
• • • •
Change in preference toward contemporary and designer jewels High brand consciousness of residents and tourist Increased disposable income Greater exposure to western culture
• •
Strong mall culture Low interest in online sales of jewellery
• • • •
Unbranded jewellery form major share of jewellery sales Preference toward gold traditionally Existing familiarity with metals other • due Brand reputation Men refrain from wearing gold to religious customsin Western countries than gold Use of silver and platinum for wedding bands affect sales in mid east will heavily
• • •
Sales to tourist comprise 50% of sales Gold still major purchase by South Asian people (50%) High brand consciousness of residents
Greater willingness to pay premium on brands
HIGHLIGHTS Touch and feel are important for assurance before buying jewellery
• Excellent market for sales of Italian as well as traditional Indian jewellery using stores only
Market for both traditional and contemporary jewellery
Understanding GITANJALI Business, Strengths and Issues
Gitanjali Gems Ltd.– OVERVIEW One of the largest integrated branded jewellery players Resources & Capabilities Global Presence Market Size : $3000 million multinational group
Europe
Financial Resources : Large cash inflow and heavy spending on promotions
Innovation & New Initiatives: Creation of smallest heart shaped diamond in the world (at o.o3 carats) Automated Jewellery Vending Machine
Japan
China USA
Middle East India
Business Expansion through acquisitions : Brands like Stefan Hafner, Io Si etc
FOCUS
Strategic Presence across markets : 10 global and 6 regional offices.This not only allows for the attainment of extensive reach but also mass
104 stores of Samuels in the South West
4 stores in Dubai Distribution of Indian Jewellery to over 50 stores of Damas, Al-Haseena, Alukkas
Distribution to a retail chain with over 50 stores Key market for future growth potential for the Group
Gitanjali Gems Ltd –KEY STRENGHTS Strong Brand Portfolio • 4 of the top 5 leading luxury brands in India • Different price points and varying degrees of fashion-intensity. • High recall value through consistent association with top Indian Celebrities
Because of diverse brand portfolio it is able to satiate varied needs and demands of customers , nationally as well as globally
Heavy Advertisement and Promotions • Invested 500 Crores Rs in past 5 years to create consumer desire for diamond jewllery • Largest media buyer in Indian Jewellery segment
The company ensures high visibility of all the brands which can be leveraged while launching them in foreign markets
Skills and Technology
Manufacturing Capabilities
• Dedicated design teams comprising award winning designers • Use of high precision CAD CAM processes and equipment • Around 70+ designers introduce approx 4,000 new designs each year
• 3 state of the art diamond cutting and polishing facilities • 9 modern jewellery manufacturing facilities – 235,000 pieces per month • Geographical dispersion helps in mitigating risk arising due to labour etc
Gitanjali enjoys a strong competitive advantage owing to its automated and best-in-class machinery & techniques
It has the flexibility to switch designs rapidly thus being able to service shorter jewellery life cycles more effectively than others
COMPETITIVE ADVANTAGE
Fully Integrated Supply Chain allows Gitanjali to exercise complete operational control and bring down cost of jewellery
Gitanjali Identity CRISIS Leading Italian Jewels • Store name not reflecting luxury image • Brand name is generic and passive • Limited visibility and promotions • Website poorly designed
Giantti Stores • Multiple brands (Indian + Italian) • Store brand v/s In store brands
Gitanjali Ecosystem
Brand Stores v/s Gitanjali Stores • Nearly same brands available at both the stores • Dilution of individual brand equities
Departmental Stores • Gilli, Asmi available at fashion departmental stores • Brand equity dilution
CENTRAL ISSUE Everything available Everywhere Strategy (Multiple distribution formats with conflicting brand images) – Biggest hindrance in road to luxury brand Gitanjali brings multiple images (Multiple Brands – Disconnected Brand system with no binding force) in prospects mind – No Singular Identity
Gitanjali Gems Ltd – OBSTACLES
Vision : To become the world’s largest player in branded luxury space
Segregation of Luxury and Nonluxury product
Well known Flagship Store
Presence of luxury Unique identity brands in portfolio This can be achieved by creation of an Asset which What doto we have? Where we Lack? have a Strong, Route Singular Vision and Consistent identity of its own across the world Information Rarity – Recognized SymbolRarity of people Logo / Image who wear them
Distribution Rarity – Selective Distribution
Heritage/ Personal History
Brands Overview – ITALIAN Name Stefan Hafner (Ultra Luxury)
Product Attributes - New classic looks - Traditional craftsmanship with contemporary approach - Diamond, pearls and colored gems
Distribution - 3rd party online stores - 3rd party jewelry retailers (Online + Offline) - Flagship store in China, UAE
Promotion -Trade shows, Jewelry Awards - On Store promotional displays - Collections at Fashion shows - Magazine advertisements
Some Common Observations
Porrati (Luxury)
- Seductive ,Feminine designs, 3rd party online stores - PR Channels - magazines, high on fashion (eBay) websites - Serves as a mean to express - 3rd party jewelry retailers - Fashion Shows Vibrant (Online + Offline) Store promotions •All theFemininity brands have Unique Designs and styles of their- On own and amongst -Use of Gold, Diamonds, Stones - Damas store in UAE
Best of the world designs Nouvelle Bague (Fashion)
- Diamond and gold jewellery - 3rd party online stores - Limited Magazine - Inspired by Fantasies, Dreams - 3rd party jewelry retailers Advertisements •and Limited Promotional and Marketing efforts are put toStore promote -inOn displays Emotions (Online + Offline) these brands as compared to Global Counterparts -For Cosmopolitan, Confident - Damas store in UAE woman with dynamic social life
Valente Milano (Luxury)
- Extensive use of stones, rose gold, diamonds - Innovative, Contemporary with traditional touch
- 3rd party online stores - 3rd party jewelry retailers (Online + Offline)
- Limited promotional efforts - On store displays
Io Si (Fashion)
- Limited Editions, Personalized, Contemporary, - Fusion of Gold with Rubies, Pearls and Diamonds
- 3rd party online stores - 3rd party jewelry retailers (Online + Offline)
- Limited promotional efforts - On store displays
Strategy BASE Reasons behind Recommendations
Strategy Fit– COUNTRY WISE Insights
Strategy
Healthy market for traditional as well as contemporary jewellery
-Create Room for Indian (Nakshatra, Asmi) and Italian brands to Coexist
Perceived superiority of Western luxury brands, rising luxury ecosystem
- Italian brands will be Relatively Easy to establish
China
Critical Success Factor Online and physical stores need to - Tap the Growing online retail market by Coexist to be successful differentiating on service and trust front Facts: Chinese are amongst the largest number of tourists in US and Europe Insights Strategy Rising influence of Western culture on middle east countries Use of jewellery as fashion extension -Indian brands are Design Misfit due to Light jewellery –Diamond & White gold traditional and ethnic orientation Careful branding and positioning of our store as a Consumers’ orientation towards Valuein US, - Extra efforts to develop luxury around luxury outlet Europe and Hong Kongthewill have for money and indifference towards brand to gain Acceptance cascading effect of sales in China and Middle East purchase medium if brand not popular Customization + Self Indulgence
USA
- More emphasis on in Store Service
Insights
Strategy
Market for traditional as well as Italian Mall culture shadows online retail
- Indian as well as Italian brands can coexist
Brand reputation in West will have trickle down effect on east
- Careful branding in west on strategic locations with healthy tourist traffic
Middle East
Worldwide Jewelry RETAIL FORMATS A - Ultra Fine Guild -High quality, high priced upscale shops - Advertise heavily at awards, charities, fashion shows, magazines etc. - Upscale malls, upscale shopping streets - Tiffany & Co., Cartier, Harry Winston
Mapping the Mediums Type
B - Designer Outlets/ Boutiques - Stores of well known reputed Mature Market in US. designers or low - Very highGood qualitybrand designs name and construction price are two prime - Located in upscale shopping locations factor for purchase - High priced, limited collection - Stefan Hafner, Jean Schlumberger etc. C- Online Retail Chains - Fastest growing medium -3rd party stores, merchant stores - Wide range of jewelry, mass -premium - eBay, BlueNile, Amazon, Osterjeweler etc.
USA
China
A B C
UAE
D - Well Established local Stores - Localized operations, good local image - Freestanding buildings, malls - Moderate to high quality jewelry, keep collections of Good popularPotential brands too for - Discounts, schemes, credit development of - Lux Bond, Joyalukkas, Ming’s
luxury/premium store in Mid E -Large Retail ChainsEast anddesigners’ China - Distributors of known
D E F Matured Growth Phase Nil / Introduction
collections, new designers - Wide range Online storefrom quality to affordable -TV, newspaper inserts, discounts negligible in mid east - Sterling , Chow Tai Fook, Damas but gaining traction - Established malls, high traffic locations
in China.
F -Departmental Stores - Mass , popular, stylish jewelry -Private label brands - Newspaper inserts, TV, discounts etc. - Sears, Wal-Mart, Target etc.
What do we PROPOSE?
Global Luxury Store Single dedicated Luxury Stores for Italian luxury Jewellery Brands Strong and Consistent Brand Identity across locations
Extended Distribution Distribution of selected Gitanjali brands(Indian/ Italian) through Standalone Brand Stores (Owned/ Franchised) Third Party Distributors
IDENTITY Creation ,Promotion and Distribution
CREATION
Proposed Global Store Identity
Premium destination for Reputed Italian Jewelry brands known for its EXCELLENCE in design
Core Identity
A clear cut identity driving all future branding initiatives Personality Elegant Upper Class
Sophisticated Aspirational
Clearly defines the unique position as store of ITALIAN jewelry
Store Ambience Interiors inspired by rich Italian heritage Designed to give an overall ITALIAN EXPERIENCE rather than a Shopping experience
Services and Staff Knowledgeable and technically competent staff on diamonds and jewellery Experts on Italian design and its heritage
Emotional & Self Expressive Benefits
Brand Name: ‘LA ELEGANCIA’ Brand name resonating with core identity of excellence and elegance
Typical user – admirer and connoisseur of Italian designs Feeling of enrichment and satisfaction
Packaging White colored boxes with store name logo on it Tied with Steel Bracelets designed by Italian Designers
Unique attribute to be identified with brand
CREATION
Proposed Global Store Identity
Objective
Premium destination for Reputed Italian Jewelry brands known for its excellence in design
Issue
Creating Identity of ultra premium store without diluting luxury identity of its In-store brands
Road to Luxury Price not mentioned anywhere outside store catalogue
Emblematic print only advertisement
No use of known celebrities in any ads
Use of celebrities as ambassador and for testimonials only
Events sponsor and organization attended by selected few
Special emphasis on enrichment of customer
Brand physique Collection of beautifully designed jewellery from reputed brand
Relationship I trust the company to bring me best in class Italian jewellery Customer Reflection HNWI , Celebs , Successful businessman and Classy
Brand Personality Connoisseur , Elegant , Sophisticated
Kapferer Prism for ‘La Elegancia’
Culture Italian
Self Concept I am beautiful , classy and unique. I understand nuances of fine jewellery
Intended Brand Identity
PROMOTION
The BRANDING Challenge
Branding Challenge: To develop brand equity at 3 levels Gitanjali Group
In Store Brands
Outlet
Branding in Phases by strategically deciding the priorities and order Developing ecosystem to complement overall brand environment
6 Months
Step 1 1 - Kick off with the Store Time: Start the branding • Entirely new brand • Need time to build brand equity
12 Months
All 3 entities have Conflicting Branding objectives Possible Cannibalization of brand equity Timeline
In Store Brands
Store
Gitanjali
18 Months
Step 2
Step 3
2 - Get In store brands in game
3 – Time for Gitanjali
Time: 6th month onwards • Complementing the brand equity of store • Enhancing own Brand Value
Time: 18th month onwards • Will benefit by established brands (Store + In Store) • Complement the whole ecosystem
After 18th month branding for Store and Brands will take place in parallel to the group branding
PROMOTION
La Elegancia
In Store Service
Advertisements
Trained staff: Staff should know about diamond and jewellery nuances especially about the Italian jewellery and brands . Enriched Customer: Share knowledge with customer about diamonds and jewellery design technicalities so that he feels enriched and boast about his knowledge to others No pressure to buy : Customer should feel like they are visiting art gallery with purpose of enjoying beauty Public Relations : Generating awareness without actually advertising it • Online presence - SEO, Magazines , • CSR - Active communication of major CSR events • Stories that happened inside the store e.g. Stories behind the designs and the designer Stories around usage by celebrity clients
Testimonial: Testimonial from celebrities that visits store and ensuring that it is circulated by PR Ambassador : Not needed. Brand ambassador will be used at individual brand level Print Ads: Emblematic print using no sales pitch and no known face. Special attention on Airports Event sponsor and Organization Events attended by selected few only No Team Sponsor
Using the Signatures: Codes that decodes a brand
In Store
Ads
PR
Logotype: The logo attached to the brand name
Visual Symbols: Additional visual symbols identified with the brands
Packaging : Final pack with specially designed steel chain with logo
X
Picture : with special close up detail
X
Motifs : Motif taken from steel chain used wherever possible
La Elegancia
Italian Brands
Gitanjali
PROMOTION Objective Issue
ITALIAN Brands
To strengthen existing Brand Equity
To generate Awareness amongst new customers
Striking a balance between New store marketing and In store brands’ marketing
A luxury brand requires a different marketing approach to develop its brand equity – 3 Steps Public Relations : Generating awareness without actually advertising it • Stories around the brand- Implicit mention of brand name • Listing on all luxury brand databases, luxury rating agencies • Online presence - SEO, Luxury awards listings, Magazines • Offline presence - Tabloids, lifestyle magazines • Utilize PR muscle of Porrati
e.g. Stories behind the designs and the designer Stories around usage by celebrity clients Personal letter: Sending printed letter to each esteemed customer
Using the Signatures: Codes that decodes a brand
In Store
Ads
PR
Creator Figure : Using figure of creator of the brand - Stefan Hafner, Roberta Porrati
X
Logotype: The logo attached to the brand name
Visual Symbols: Additional visual symbols identified with the brand (e.g. picture of a design)
Testimonials: Capturing what famous people saying about the brand • All 5 Italian brands • Entries by celebrities visiting store or using product
La Elegancia
Ambassador: Paying celebrity to endorse product • •
Italian Brands
Only for Fashion Jewelry: Nouvelle Bague and IoSi Preferably celebrity known for good fashion sense like Sonam Kapoor
Gitanjali
PROMOTION
GITANJALI Global
Post 18th Month the branding for the group will take place at 3 parallel levels
GITANJALI Jewellery CZAR
Use of PR muscle of the company
• International level Jewellery Design Competition for leading design schools in India , US, China and UAE • Accompanied by extensive media coverage Online + Offline
Awareness generation through CSR initiatives
La Elegancia
Italian Brands
• Group Awareness generation at, future designer + Consumer level
Gitanjali
DISTRIBUTION
ITALIAN Brands
La Elegancia Store
Italian Brands
Suggested Store Locations * Middle East
Abu Dhabi , Dubai , Sharjah , Beirut ,
USA
Los Angeles , New York ,Chicago , Washington , San Francisco , Boston , Philadelphia , Houston
China
Beijing , Shanghai , Guangdong , Zhejiang
* Based on combination of Per capita income , Number of millionaires in that region
Stefan Hafner
Porrati , Valentene , Io Si , Nouvelle
Porrati , Valentene , Io Si , Nouvelle
Top
Heart of Range
High Jewellery
Necklace, Costly Rings and Bracelets
Entry Products
Retail Distribution China Third Party Premium Brand Retailers
USA Samuels , Selected Premium Brand Retailer
Rings , Bracelets
UAE Company owned Stores like Nakshatra , Third party Premium brand retailers
Must be necessarily present only in Exclusive La Elegancia Store Lower range rings and Bracelets can also use multi brand retail like Samuels
INDIAN BRANDS Global Distribution and Marketing
Global DISTRIBUTION Taste and Preferences of customers in Foreign market
Brand Positioning Price
New Line inspired by Chinese culture
• Both Traditional and Contemporary Jewellery • Ornamental • More for Social Status
China Recommended Brand Assortment
USA: D’Damas, Gili , Nakshatra , La Elegancia Store • Materialistic China : D’Damas, Gili , Nakshatra , A china exclusive USA • Less Traditional , more trendy traditional collection , La Elegancia • Easy to wear jewellery Mid East : All indian brands , La Elegancia
High on Tradition Traditional
Blended
High on Fashion Elegant
Stylish
Mid East
• Rise of Luxury brands • Indian essence is preferred • Transition from gold to diamond jewellery
Trendy
Highlights Nakshatra, Gili and D’Damas will be launched Internationally in All Three Markets China: No traditional indian brand like Maya , Shuddhi. We recommend launch of new line inspired by Chinese culture UAE : All Indian brands along with La Elegancia
Global MARKETING USA Distribution
Samuels Stores (Online + Offline) – Current brand equity does not justify Standalone Gitanjali stores
Promotions
The Royal Corner: Special section dedicated to Indian brands at each Samuels store Section designed and inspired by Indian Heritage Royal corner section listed on Online Retail website of Samuels
Middle East Distribution
Promotions
Standalone Brand Stores(Gilli, Nakshatra) + Multi Brand Gitanjali stores Strong Brand Equity and Visibility amongst large South Asian population Print advertisements in lifestyle magazines and leading tabloids Launch of collections at fashion weeks Celebrity Endorsements are must due to huge popularity of Bollywood in Middle east
China Distribution
3rd Party multi brand jewellery outlets
Promotions
Launch of New Collections inspired by Chinese designs to suit local taste On store promotions
CSR Initiatives Indian and International
CSR- RESEARCH Research Primary: Online Survey in India using Facebook and mails ,, 41 Respondents , 30 Males , 11 Females . Age : 21-40 https://docs.google.com/forms/d/1NynAqqs0XyRYz1HoIuOampJddexNlz8N4oFnwBbQ9k/viewform
Issues cited in Survey
Hunger Homelessness Corruption in the form of bribing Education Human Trafficking. Special attention to woman Secondary: CSR online journals, Consultancy Reports trafficking Education and upbringing of orphans Questions Consumer tend to pay premium if they believe in and slums Sanitation issues in rural Concern forimportant Old age people ousted by children genuineness of CSR. This makes PR very Medical Care inMajority of issues cited here are covered by Gitanjali Top national issues mind that CSR can address Support to Farmers Do you think Socially Responsible Companies are initiative ‘Sambhav’ Child Marriage more trustworthy than companies with little or no Environment The survey will be used to pick up top two issues to be aided CSR activities ? India for products which Are they ready to pay in premium aids national issues
Ready to Pay Premium
Believe CSR is Genuine Total: 75.60 % ( 31/41) Male : 73.33 (22/30) Female : 81.81% (9/11)
Total : 56%(23/41) Female: 81.81%(9/11)
Male: 46.67 (14/41)
36.37%(8/22) Male who believed CSR is out of genuine concern yet chose not to pay premium for CSR All Females(9/9) who believed in genuineness were eager to pay for CSR
CSR India- A Way FORWARD Widening the Scope of current CSR Initiative “SAMBHAV”
“Udaan”
“Aasha”
Initiative for eliminating “Women Trafficking”
Rescue Foundation , PRAYAAS
Livelihood for old age people
Help Age India, Age Well Foundation Suggested Partners
“UDAAN” An Initiative for eliminating “WOMEN TRAFFICKING” Severity of the Issue
“SHIKSHA” Initiatives “Awareness Program” General Training in culinary skills Psychologic al training Educating about HIV and other diseases
Some Facts: 38% is commercial sex trafficking ( Data about India) It is the second largest criminal Industry worldwide
“Shristi ” : A training Program on handicraft skills Stitching Cloth cutting Embroidery work Jewel setting workshops
“JYOTI”: A Computer Literacy Program Basic knowledge of computers Job of Receptionist , Data entry personnel in malls and offices
IMPACT The initiative will help in eradicating this grave issue thus saving lives of many innocent girls Providing education and training will help them in becoming self dependent
“AASHA” and “SAMBHAV” Livelihood for old age people Causes to Support Today there are 77 million old people in India. This number is likely to rise to 177 million by 2025 90% of the older people are from unorganized sector with no social security 40% of the old live below poverty line 75% of the old are from the rural areas 55% of the women 60+ in age [a staggering 19 million] are widows 73% of the old are illiterate
Activities in collaboration with “Agewell Foundation” Engaging them in voluntary teaching or student counselling programs Training them in handicraft skills thus helping them to become self dependent Celebration of festivals like Diwali, Holi
PROMOTIONS – SAMBHAV (India)
Own Portal Company owned portal created to drive higher customer engagement with “Sambhav” • This portal will detail all the activities done by Gitanjali in various domains • Creating customer login where they can come and donate voluntarily in favor of any cause
“Share your story” Campaign • Create a Facebook Page of “Sambhav” • Invite people to share their CSR experience or story with us • Popular CSR Initiative will get help from Gitanjali in form of funds and support
CSR - Going GLOBAL Objective: Implementing CSR as part of corporate strategy by being socially responsible in its core competencies Responsible Jewellery Council Responsible Jewellery Council has more than 440 members. Each member is audited independently on international practices Copy of audited certificate prominently displayed in each exclusive outlet by Gitanjali Customer communicated that Gitanjali has taken enough measures to ensure that diamonds are conflict free DTC , Tiffany , Bulgari , Cartier are member of this Council Organization ensuring its supply chain remains free of conflict diamond Organization ensuring its supply chain remains free of conflict diamond
Global initiative to strengthen local artisan Collaborating with designing and fashion institutes to conduct free sessions and trainings for week handicraft industry and local artist Enriching experience for both students and artisan Implemented in all major market of Gitanjali Organization associating itself deeply with designs and designers
CSR : Let the CONSUMER Know A SAMPLE OF WHAT WE SUGGEST: “Give Back to Society” We propose to include the contribution towards CSR in every bill that a customer gets At 0.1% of markup price net contribution 2012-13 would be 12.49 Crore at 12498 crores of sale for Gitanjali For every contribution by customer same amount can be donated by Gitanjali “You helped them smile” A small printed brochure containing all the details of CSR activities by Gitanjali will be pinned with the bill The idea is to let consumer know whom they helped and make them feel proud by association with Gitanjali Different brochure for India and foreign countries
Markup price was 10000 for product when displayed on shelf
This initiative will be launched globally at all Gitanjali stores
Executive Summary Jewellery Market and Gitanjali Jewellery Market
Gitanjali
US is mature luxury market while China and mid East are evolving Traditional jewellery important in Asia Luxury in US is accepted as luxury in Asia Ecommerce not major distribution avenue
Fully integrated supply chain as major competitive advantage core obstacle toward its vision of becoming global luxury player is absence of a global brand that can provide it with global identity
Gitanjali as major Luxury Player La Elegancia
Italian Brands
Ultra Premium Italian store housing luxury Italian brand Major challenge: new store identity should not overshadow Italian luxury brands equity
Strategy : Utilization of luxury branding strategy different from regular branding Extended Distribution: Low cost rings and bracelets sold through this medium
Indian Brands Selected brands based on trends and insights from country Gili , Nakshatra and D’damas sold in all markets
CSR as Corporate Strategy Two initiatives each in national and international CSR has been proposed. Objective is to incorporate CSR as major strategic leverage. Bill , Brochure and PR will be key to improving company’s CSR reputation worldwide
Thank You