Parag Shah, Director of Kisna Diamond and Gold Jewellery, the retail jewellery brand of IIJS Signature exhibitor Hari Krishna Group, gives Solitaire an overview of the company’s pan-India retail expansion plan and the role that the IIJS shows will possibly play in it.
As an exhibitor, what are your plans for IIJS Signature 2023?
With the evolving customer and changing market trends, we are expecting an accelerated growth and shows like IIJS are an excellent podium for exhibiting industry’s best craftsmanship. The show also provides opportunity to connect with the finest retailers in the industry. We are delighted to participate in the IIJS show, as it is a fantastic avenue for us to present our unique collections and help us tap the untapped markets.
You have recently embarked on an expansion plan for the Kisna retail brand. Will the IIJS shows (Signature & Premiere) play a role in this marketing strategy?
As a part of our rapid franchise expansion plans, we envision Kisna to continue to be a partner and confidant to every woman on all the occasions that she chooses to celebrate. The brand recently launched three franchise stores in Siliguri, Hyderabad and Hisar. We are on the path to paving new grounds through rapid franchise expansion across India soon. IIJS has an established benchmark in the industry and our participation at IIJS will definitely help us enhance our relation with diverse group customers, especially from different regions of India. Keeping up with the momentum, we are positive that IIJS shows will contribute to our growth trajectory.
Tell us about the Kisna’s retail ambitions for India. What is the advantage of choosing the current period to grow your retail footprint?
Our offline expansion plans through the adoption of the franchise model are in line with Kisna’s business approach and long-term vision to make diamonds accessible to the modern Indian women. The brand has been the most important partner for retailers by offering its wide assortment of designs, ranges, and a seal of being a trusted brand. This helps the brand reach every aspirational woman of the country, thus marking its presence across 3500+ in-store outlets in India.
Leveraging the feedback received from various partners over the years, through a rapid expansion plan tapping into every state of India, Kisna is strengthening and deepening its bond with local, trusted retailers by offering them a franchise model to join the brand in its next phase of growth.
What is your outlook for jewellery sales in India and overseas during 2023?
The jewellery sector in India has recorded healthy sales in the festive and wedding season this year. Due to the recent growth in the jewellery industry, organised players are projected to gain momentum. The main factors accelerating the market growth in India and international markets are people’s changing lifestyles and rising disposable incomes, followed by aggressive branding and advertising carried out by key players. It is also anticipated that organised jewellery retailers will outperform the sector in terms of sales growth because of continued store expansions, trends, and the supportive regulatory environment.
What are the 3-4 big changes you envisage in the Indian jewellery industry over the next few years?
Consumer preferences are evolving and we foresee a shift from investing in “locker jewellery” to wearing lightweight “drawer jewellery” that compliments and elevates her everyday look. This represents a significant change in the category as diamond jewellery is outpacing gold in popularity. Multi-wear jewellery is also gaining momentum since it can be styled differently for all occasions both in India and the international markets.
Source : https://gjepc.org/solitaire/iijs-shows-will-contribute-to-kisnas-growth-trajectory/