LAL BAHADUR SHASTRI INSTITUTE OF

MANAGEMENT &TECHNOLOGY BAREILLY

Retail Project On
Comprehensive Practices of
PC Jewellers in Indian Market

Submitted to:
Mr. Abhinav Nath

Submitted by
Anshika Agarwal

Assistant Professor

PGDM (2014-16)

CONTENTS

1.
2.
3.
4.
5.
6.
7.
8.
9.

Acknowledgement
Profile
Products & Services
Presence in the Country
Business Operations
Marketing Practices
Market Share & Industry Competitiveness
Profile of Competitors
Future Marketing Strategies
10. Bibliography

ACKNOWLEDGEMENT
This project consumed huge amount of work, research and dedication. Still, implementation
would not have been possible if I did not have a support of many individuals and organizations.
Therefore I would like to extend my sincere gratitude to all of them.
First of all I am thankful to Mr. Abhinav Nath for his support and for providing necessary
guidance concerning projects implementation.I am grateful to him for provision of expertise, and
technical support in the implementation. Without his superior knowledge and experience, the
Project would like in quality of outcomes, and thus his support has been essential.
I would like to express my sincere thanks towards volunteer researchers who devoted their time
and knowledge in the implementation of this project.
Nevertheless, I express my gratitude toward my families and colleagues for their kind cooperation
and encouragement which helped me in completion of this project.

Anshika Agarwal

PROFILE
PC Jeweller is Indias leading and preeminent jewellery house and is into manufacturing,
wholesaling and retailing of 100% Hallmarked gold and certified diamond jewellery. It offers a
vivacious and contemporary collection of remarkable jewellery designs to its customers. The
plethora of products includes earrings, necklaces, pendent sets, bracelets, rings, etc. exquisitely
designed byskilled craftsmen. These designs are a perfect blend of traditional and voguish
essence and are bestowed with an aesthetic feel. It works under the highly experienced and
professional flagshipof Mr. Padam Chand Gupta as the Chairman, a visionary and Mr. Balram
Garg as the MD, a pioneer. Since its inception, the company has carved a niche in creating
eternal jewellery designs that are magnificently fascinating. The core reason being that the
company is run by a team which is a perfect blend of young and enthusiastic players along with
idealist and experienced members.

It all started when PC Jeweller first opened its first showroom in 2005 in Karol Bagh, New Delhi
with a vision to redefine elegance, allure and style in the form of stunning pieces of jewellery.
Today it has its physical presence at 56 showrooms, across 47 cities and 17 states.
Since its inception, the company has been a pioneer in designs as every product is crafted to a
standard of perfection. Whether it is elaborate wedding jewellery or affordable wearables, PC
Jeweller has fashioned exceptional designs with unmatched quality. Over time, timeless treasures
from PC Jeweller have helped intimate moments become lifetime memories.
Companys business model consists of setting up large format, stand alone showrooms at high
street locations. Its stores stock a wide range of jewellery across all price points, with an
increasing focus on diamond jewellery. The company sells only hallmarked jewellery and
certified diamond jewellery. This assurance on quality and purity along with transparent and
customer friendly policies have enabled PCJ to become an established and trusted brand name in
a short time span.
From sourcing of raw materials to the sale of the finished product, all the processes are
integrated and aligned. They map out customer preferences and manufacture products in a way
that leaves the customers spoilt for choice while making their purchases. Throughout the entire
process, stringent quality measures are taken to ensure the purity, value and finish of the product.
Their expertise extends to the possibilities of customized and personalized designs to help the
customer find and design her or his perfect piece of jewellery.
PC Jeweller has made a remarkable journey so far and has created a brand of its own with
sustainable customer initiatives and unrivalled quality that loyal customers vouch for. With
contemporary and classic designs aimed for longevity, they are committed to providing
customers the best buying experience using a collaborative approach across both online platform
and showrooms.
The company hope to continue being inspired and create the most desired jewels.

PRODUCTS & SERVICES

The products offered can be broadly categorized as:
Diamond Jewellery Majestically designed diamond jewellery that is preferred by most working
women. Light weight and jaw-dropping designs to cater to the needs of todays women.
Gold Jewellery Traditional gold jewellery with voguish designs to keep alive the Spirit of
India. Preferred by most women for all special and auspicious occasions like anniversaries,
wedding ceremonies and many more.
Wedding Jewellery Meticulously designed ornaments in gold and diamond with exquisite
kundan or polky work resonating divinity. Sublime gift for the most important day of every girls
life.

Designer Jewellery Desire of every women and envy for the rest. State- of-the-art and au
courant designs for the women with a classy taste. Depicts elegance at its best.
Gifts Exclusive silver gifts for special occasions like silverware like silverware including plates
with bowls, silver Ganesha, Krishna, Bal Gopal, Laxmi Ganesha.
The products in the above categories are pendant, necklaces, earrings, rings (for both males and
females), bangles, nose rings, bracelets, mangal sutras, goldcoins, gents kada, etc.
In an endeavour to provide world class and auxiliary services to its clients, PC Jeweller Limited
has introduced a momentous service called Jewels for Less. The service has received huge
appreciation and applause from the customers all across. The service is a remunerative and
profitable way to plan jewellery buying in advance. Contemplating the prevalent scenario where
the gold rates are increasing by leaps and bounds, this is a smart way to invest money in
jewellery.

PRESENCE IN THE COUNTRY

It all started when PC Jeweller first opened its first showroom in 2005 in Karol Bagh, New Delhi
with a vision to redefine elegance, allure and style in the form of stunning pieces of jewellery.
Today it has its physical presence at 56 showrooms, across 47 cities and 17 states. It has its stores
in the following cities:

Ahmedabad
Ajmer
Amritsar
Beawar
Bengaluru
Bhilwara

Bhopal
Bilaspur
Bhagalpur
Bareilly
Chandigarh
Dehradun
Durgapur
Faridabad
Ghaziabad
Gurgaon
Guwahati
Haridwar
Hisar
Hyderabad
Indore
Jabalpur
Jammu
Jodhpur
Jaipur
Kanpur
Kolkata
Lucknow
Ludhiana
Mangalore
Mathura
New Delhi
Noida
Pali
Panchkula
Patna
Raipur
Rajkot
Ranchi
Rohtak
Siliguri
Shri Ganganagar
Vadodara
Varanasi
Yamuna Nagar

BUSINESS OPERATIONS
Jewellery occupies a very unique position in Indian culture and is an integral part of our culture
and heritage. Jewellery retailing in India is dominated by unorganized sector, with a very limited
presence of corporate players. PC Jeweller was one of the pioneers in this industry to create a
brand with a 100% guarantee of the purity as well as friendly and transparent customer policies.
The company has positioned itself as a wedding jeweller with large format stores located on high
streets. Its stores aim to provide their customers with largest range and variety at all price points
in a luxurious ambience.
PC Jeweller believes that in the long run, as the industry evolves from being largely unorganized
towards consolidation, the differentiating factor amongst branded jewelers would be product
design and price. Thus it is investing in augmenting its designing and manufacturing capabilities
so that it is able to retain its unique selling preposition (USP) in a largely consolidated industry
with a limited number of players. The company has a vast repertoire of designs in its data bank
and is continuously working to update the same. It has proven manufacturing capabilities which

enables it to bring out fresh collections at regular intervals. The company is one of the leading
manufacturer of fusion jewellery which involves collection of various types of stones in a single
set of jewellery and thus create a very unique item.
Besides domestic operations, PC Jeweller also exports handmade designer gold and diamond
jewellery on a wholesale basis. The company has robust export operations but intends to retain
focus on growing its domestic business for the next few years.
Company is a pan India player with 49 stores as on date. It has plans to expand its reach by
covering more and more locations every year Currently the company is present in Metros, Tier I
& Tier II locations. It has also finalized plans to move to Tier III locations through Franchisee
stores Indian jewellery market is still predominately in the hands of unorganized sector.
However, the consumer buying preferences is shifting towards branded players and this gives
players like PC Jeweller immense potential to continue on the growth path for the immediate
future PCJ also exports hand made designer gold jewellery. It is a B2B business and NRIs and
Muslims are its target customers. Its export markets are primarily Middle East, US and UK. The
company has also entered into the field of fast growing online space by launching its e commerce
website WearYourShine.com. It also has a tie up with Flipkart and Snapdeal for jewellery sales.
Company has a strong team of over 50 designers who keep on creating new patterns and designs
on a regular basis based on domestic and international trends. Company also participates in
domestic and international fashion shows and exhibitions on a regular basis to understand the
prevalent fashion. Our state of the art manufacturing facility is equipped with all latest machines
for developing diamond jewellery with accuracy and speed. However, role of skilled artisans in
the jewellery manufacturing cannot be overemphasized as significant portion of ethnic Indian
Gold jewellery is hand made. The company has developed and maintained a skilled pool of over
1,000 workers who have the capability and skills of converting paper designs into exquisite
jewellery pieces.

MARKETING OPERATIONS

Buying patterns of Indian consumers are changing fast. Consumer are getting more
comfortable with online purchases
Online sales of precious jewellery items is also picking up, especially small ticket value
items
We have set up a focussed ecommerce vertical www.WearYourShine.com with an aim to
become Indias finest online fine diamond jewellery portal focusing 100% on customer
experience, pricing and designs.
Target is to make the website a go-to jewellery destination for high-end customers and
the masses alike.
We have also done tie-up with Flipkart and Snapdeal for online jewellery sales.
Tool for us to bridge gap between in-store and online shopping experience, enhancing
customer satisfaction and repeat purchases.
Help us catch the target segment young.

 Low-ticket online sales to help us target the high-ticket wedding customers at an early

stage.
A regular visitor/ buyer at PCJ website (www.WearYourShine.com) will definitely visit/
prefer nearby PCJ Showrooms when she/ he has to evaluate a high-ticket wedding
jewellery purchase
Better CRM systems.
Enhanced data collections and analysis (for other online and offline customer visits) of
customers preferences and behaviour to develop effective marketing and communication
and targeting strategies.
Platform for purchase of affordable luxury products.
Our long term vision is to create a platform which customers can trust for purchasing
affordable and delightful luxury products online.
We can then target such customers with other products like private labels for watches, etc.

MARKET SHARE & INDUSTRY COMPETITIVENESS

The 3 Lakh Crore market is slowly becoming organized, with about 20% of all regional &
national players becoming organized -The figure drops to 7-10% if you count only large players
such as Titan, Keshavlal Dalpathbhai Zaveri & Sons, Joyalukkas, Kalyan Jewellers, Gitanjali &
PCJ among others Size of Jewellery Market -3 Lakh Crore (Organized Market- Rs.50000 Crores)
(Unorganized Market- Rs.2.5 Lakh Crores) PC Jewellers strategy on Organized Markets.
1) Selling more of Gold than Diamonds 2.Looking for outside markets -P C Jewellers overseas
market comprises NRIs looking for handmade Indian Jewellery. The machine made designs that
are otherwise popular abroad are not the companys forte & it has decided to stick to its knitting
-The company has intentionally kept their exports sales at around Rs.1,000 Crores for the past
two years while continuing to expand domestically 3.Localization of Jewellery designs -The
company ties up with local designers in each location, in addition to getting jewellery
manufactured at its central manufacturing unit in Delhi -In 2013,PCJ ventured into South India

for the first time opening stores in Mangalore, Bengaluru & Hyderabad (50% of the inventory of
this market is localized due to the preference for local designs) 4)Lower Making Charges PC
Jewellers have lower making charges & also offer the option of returning jewellery within one
week for a full refund whereas other jewellers usually retain the making charges on returns(P C
Js effective manufacturing & inventory strategy allows it to make this offer) 5)About 30% of the
jewellery it sells is non-designer,which involves low making charges 6)Companys
manufacturing plant lets the company to save 2-3% on making charges.

PROFILE OF COMPETITORS
TANISHQ:
Titan Company brought about a paradigm shift in the Indian watch market when it introduced its
futuristic quartz technology, complemented by international styling. Titan Company is the fifth
largest integrated own brand watch manufacturer in the world. In addition to 'Titan' the watch
brand, Titan Company has also built 'Tanishq' the leading jewellery brand over the past few
years. Both these brands are among the most recognised and loved brands in India.
The success story began in 1984 with a joint venture between the Tata Group and the Tamil Nadu
Industrial Development Corporation. Presenting Titan quartz watches that sported an
international look, Titan Company transformed the Indian watch market. After Sonata, a value
brand of functionally styled watches at affordable prices, Titan Company reached out to the
youth segment with Fastrack, its third brand, trendy and chic. The company has sold 150 million

watches world over and manufactures over 15 million watches every year.
With a license for premium fashion watches of global brands, Titan Company repeated its
pioneering act and brought international brands into the Indian market. Tommy Hilfiger, FCUK,
Timberland & Police as well as the Swiss made watch Xylys owe their presence in the Indian
market to Titan Company.
Entering the largely fragmented Indian jewellery market with no known brands in 1995,
Titan Company launched Tanishq, India's most trusted and fastest growing jewellery brand. Gold
Plus, the later addition, focuses on the preferences of semi-urban and rural India. Completing the
jewellery portfolio is Zoya, the latest retail chain in the luxury segment.
Titan Company has also made its foray into eyewear, offering a variety of differentiated products
to the end consumer consisting of frames, lenses, contact lenses and accessories. Frames are
available in both international brands (Levis, Esprit, Hugo Boss etc.) and in-house brands
Titan, Eye+ and Dash which is an offering for children. The company has leveraged its
manufacturing competencies and branched into precision engineering components & subassemblies, machine building & automation solutions, tooling solutions and electronic subassemblies. With over 1100 retail stores across a carpet area of over 1.5 million sq. ft.
Titan Company has Indias largest retail network spanning over 220 towns. The company has
over 400 exclusive World of Titan' showrooms and over 150 Fastrack stores. It also has a large
network of over 740 after-sales-service centres.
Titan Company is also the largest jewellery retailer in India with over 160 Tanishq boutiques and
2 Zoya stores, over 30 Gold Plus stores. It also sports over 300 Titan Eye+ stores. In addition the
company retails personal accessories such as bags, belts, wallets and most recently perfumes
under Skinn Brand.
Backed by over 7,000 employees, two exclusive design studios for watches and jewellery, 12
manufacturing units, and innumerable admirers world over, Titan Company continues to grow
and set new standards for innovation and quality. The organization is all geared to repeat the
Titan and Tanishq success story with each new offering.

TBZ:
The story begins in 1864, in a tin shed at Zaveri Bazar. Late Shri Bhimji Zaveris vision was to
give India the jewellery it deserved, that of uncompromising quality and craftsmanship. This
vision was furthered by his son, Late Shri Tribhovandas Bhimji Zaveri, who expanded the
business by opening new showrooms. But it was his grandson, Late Shri Gopaldas Zaveri, who
shook up the Indian market by offering customers a full value gold buy-back scheme. This

legacy of unapologetically putting the customer first still continues. Under the able guidance of
Mr. Shrikant Zaveri, TBZ successfully transformed into the modern and innovative jewellery
maker it is today.
They are now the jewellery destination of choice for every occasion, from a womans everyday
wear to delicately crafted pieces for the biggest day of her life. Our path-breaking ways are also
evident in retail. The presence in the Indian market has been marked by a number of firsts - the
first to offer buy back guarantee on gold jewelry, the first to promote the concept of light weight
jewelry and the first to offer certified solitaire diamonds. Thanks to these and many other
instances of innovation and commitment to excellence, we are now one of Indias largest
jewellery retailers.

DDAMAS:
D'damas is a diamond company which was founded in 2003 by a joint venture between India's
Geetanjali Group and Dubai's Damas. Its business is growing in vast area of across more than
400 towns and 1000 retail stores.
There are various ranges of diamond jewellery in D'damas like rings, bangles, diamond studs,
pendants, earrings, bracelets etc. it also consist gold, colored and semi precious stones jewellery.
The sister brands of Ddamas are Vivaah, DER, Solitaire, Lamhe etc.
Ddamas is a JV between Gitanjali (Indias largest jewellery retailer) & Damas, Dubai (Middle
Easts largest gold retailer). The S&D model of Ddamas consists of B2B, B2C, Franchisee,
Corporate & E-Commerce verticals. D'damas has the largest single brand exclusive franchise
network in India & is the first diamond jewellery brand to have retail operations abroad as well.
It is one of the top five brands in the branded jewellery segment and the ONLY brand with FIVE
equally strong & well defined sub brands. The product range consists of exquisite designs in
plain gold, diamond studded & semi precious coloured stone jewellery. The wide range of choice
covers all needs, moods, emotions & tastes of its consumers across age & time.

FUTURE MARKETING STRATEGIES

Indian retail jewellery market is fast becoming organized and preference towards organized
jewellery players is growing. Past decade has witnessed the emergence of various such
organized players.
Smaller Indian cities (Tier II and Tier III) are also witnessing this phenomenon of growing
preference towards organized jewellers as compared to local and age-old jewellers
Growing comfort on buying high ticket value items from established and organized
jewellers who provide hallmark and certified jewellery
Media campaigns by leading jewellery chains educating customers on transparent and
friendly customer policies

In light of this, we are currently working on developing a franchisee model for Tier III
locations, wherein we can leverage on our brand and utilize the infrastructure and resources
of local jewellers/ investors and make them our franchisees
Tier III cities do not require significant inventory levels (relative to Metros and Tier 1
cities) and hence franchisees should be able to meet the capital requirement
Checks and balances are critical to ensure that customer always gets right product at the
right pricing across PCJ own and franchisee stores
We are working with Grant Thornton on developing a viable business model ensuring all
checks and balances are in place. We plan to open two franchisee stores on at pilot basis this
fiscal.
Every Indian city has a number of women entrepreneurs working in the jewellery space.
We are looking to build our social selling programme to harness this entrepreneurial intellect
and develop women ambassadors/ stylists who will showcase and market our products to
their friends/family/ acquaintances and social network.
Our vision is to empower several women entrepreneurs who have the drive and the passion to
achieve success on their own terms.
Set up an innovative and modern social selling division that offers todays woman a
career alternative, where she can achieve success and balance through a career in
something she loves.
We believe, if implemented well, this can become a very powerful marketing tool.
We are currently working on developing a business model for social selling and will go live
once we have sorted out possible issues on safety/ legal and social aspects.
Active work on developing a separate team to focus on jewellery marketing to HNI
customers and regular buyers through home visits/ roadshows.
Image Consulting: Image consultants being hired for lounges with a focus to help high
networth individuals and regular buyers in choosing jewellery that looks great as per their
facial features.
Free facility for consultation with our designers for customized jewellery over video
conference.

BIBLIOGRAPHY
http://www.slideshare.net/pcjeweller/pc-jeweller-jeweller-for-generations
http://www.pcjeweller.com/about-us/
http://www.pcjeweller.com/store-locator/
http://www.pcjeweller.com/wp-content/uploads/2015/06/investors/downloads/PC
%20Jeweller_Roadshow%20Presentation_Complete%20Presentation.pdf
http://www.pcjeweller.com/wpcontent/uploads/2015/06/investors/downloads/PCJCorporate%20Presentation_1%20Jan
%202015.pdf
http://www.dnb.co.in/IndiaTop500Companies2014/Adv%5CPC%20Jeweller
%20Limited.pdf