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Online jewellery cos look to login good sales this Diwali

Last Updated: Sunday, October 28, 2012 - 13:35

Mumbai: With online shopping becoming popular due to changing lifestyle, e-commerce companies active in jewellery segment hope to almost double their sales this Diwali season.

"During the Diwali season last year, we saw around 1,500 transactions. This Diwali season we are targeting around 3,000 transactions," CaratLane Vice President Marketing Calvin John told PTI here.

CaratLane.Com, founded in 2008, is an online jewellery retailer of diamonds, solitaire, gold jewellery and coins.

While the sales broadly grew across collections during this time last year, the company saw a marked interest in its Diva and Gemstone collections, he added.

"This year, we are seeing a huge demand for our 2,500 BC Beaten Gold Collection, Gems of the Nizam Collection as well as the La Naturale Gemstone Jewellery Collection."

Dhanteras and Diwali, falling on November 11 and 13 respectively, are considered auspicious for buying precious metals.

Leading branded jewellery retailer Gitanjali Group, which entered the online segment recently, is expecting up to 40 percent growth in sales during the festive season.

"We have entered into the online segment recently. We are witnessing a good spurt in sales this month and expect 30- 40 percent growth in revenue this year," Gitanjali Group Chairman and Managing Director Mehul Choksi said.

Popular items during the period are coins, small jewellery in addition to wedding collections as the marriage season falls immediately after the festivals, he said.

JewelsNext.Com Chief Executive Gaurav S Issar said the company is expecting good sales with ticket size of Rs 25,000- 50,000.

"We are expecting double digit growth this season because e-commerce has matured in jewellery segment in the past 10-12 months. We expect 20-25 percent growth in sales compared to last year," he added.

In an effort to boost sales, JewelsNext.Com is also launching virtual jewellery experience lounge from November, where customers can try almost 1,00,000 designs in various categories by uploading their photograph on the website and buy the best suited to them.

Expressing similar view, bluestone.Com Chief Merchandise Officer Shipra Jain said, "We are yet to complete a year, but if we have seen a tremendous growth in the first year of our operations. We are anticipating huge volumes this Diwali season. For the next financial year, we have set our revenue target as Rs 60-80 crore."

Looking at the current trend, the jewellery e-commerce company is expecting 20,000-30,000 deals a year with a average ticket size of Rs 10,000-12,000, she added.


First Published: Sunday, October 28, 2012 - 13:35
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