Kalyan jewelers to go online partnering with Flipkart to sell jewellery online
India: Kerala-based jewellery brand
has entered into a partnership with an e-commerce major, Flipkart, to sell its
products online. Kalyan jewelers is one of the leading brands across India and
mainly deals in gold and diamond jewellery.
These jewellery products would
be available online from 12th February and the portfolio includes
popular designs in gold and diamond encompassing rings, pendants, earrings and
necklaces ranging between INR 3,500 to INR 2,00,000.
The company’s managing
director stated that the online
jewellery sale is growing at more than 70% per annum which is valued at more
than INR 1200 Crores. The company has planned to target the online gifting
segment costumers and over a thousand designs will be available online through
Flipkart.
The
jewellery available online would be Hallmarked gold and certified diamond
jewellery which would ensure customer confidence.
According to TechSci
Research, this move would ensure the increasing market share of Kalyan Jewelers
and also, would increase the product visibility. This strategic initiative
would also benefit Flipkart by adding new segments into its product portfolio
and will help Flipkart to maintain its market presence.
According to a recent report
published by TechSci Research “India
E-commerce Market Forecast & Opportunities, 2020” the country’s
e-commerce market is projected to grow at a CAGR of more than 36% during
2015-2020. However, the e-tail segment that includes electronics, apparels
& accessories, health and personal care, etc., is expected to witness
significantly higher market growth compared to e-services segment over the next
five years.