The Hindu Business Line : D'damas plans to spread its retail horizon

D'DAMAS Jewellery India Pvt Ltd, the 50:50 joint venture between the $1-billion Damas of Dubai and Gemplus Jewellery Ltd, will make its branded jewellery available in over 400 outlets in the country by early next year.

Talking to newspersons here on Friday in connection with the launch of `Gold Expressions' collection in Kolkata, Mr Arun Bhatnagar, Head-Marketing of D'damas, said the company's branded products were now available in over 200 outlets, primarily in chain stores all over the country.

Recently, two exclusive outlets were set up in Mumbai and the company is now focussing on opening more such showrooms through the franchise route.

"We are not considering opening company-owned outlets".

Talking in connection with the promotion of Gold Expressions collection - launched in association with the World Gold Council — Mr Bhatnagar said that the world over, $4 million were spent on promotion of these range of jewelleries.

"In India, D'damas have so far spent more than Rs 8 crore in such activities". The collection, brought by Italian manufacturers, has been launched in the country as part of the Festa Italiana.

Mr Pankaj Parekh, Chairman of Indo Italian Chamber of Commerce, Eastern Region, said that the chamber was taking a lead in promoting the Indian gems and Jewellery sector in Italy.

"We have already seen inking of two business joint ventures in Mumbai and are expecting more to take place in the future."

Talking specifically about Kolkata, Mr Parekh said that a change in the State Government's policies has unleased growth opportunities in this sector.

"The opening of Manikanchan - the gems and jewellery park - in Kolkata will surely increase the State's stake in the country's jewellery business."

According to him, India being world largest market for gold, consuming 800 tonnes every year, is the destination of all major gold jewellery manufacturers in the world. While large domestic market that too dealing with the 22 carat gold coupled with restrictive policies did not allow Indian goldsmiths to be a major player in the global jewellery trade till early 1990's, the country made fast progress since late 1990's by increasing its share in the global trade from 0.5 per cent to close to three per cent.

"Our exports are growing at a fast rate and we are confident to corner a considerable market share in global jewellery trade by 2010."

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