Gitanjali Gems has bagged licensee rights to develop and market jewellery for Wimbledon, the most prestigious championship in tennis.
The association with the event comes as a part of the company’s strategy to position its lifestyle image beyond retail. Previously, the jewellery major had associated with the ICC World Cup.
The jewellery company has managed a three-year contract to promote the jewellery under the Wimbledon brand. Gitanjali Gems would be creating 500 pieces of Wimbledon Jewellery comprising tennis bracelets and pendants that will hit the market over the next three months.
Keeping in line with the US and European markets, the company would be exploring accessories in alternative metals like steel and titanium. Anuj Rakyan, vice president of Gitanjali's retail division said, "The company aims to objectively use international events as a platform to launch its brands to overseas markets. The association with Wimbledon will enable us to reach an international target audience." It has also unveiled a tennis ball studded with 4,300 diamonds, which will be given to the winner of Wimbledon Champions 2007.
Gitanjali also intends to leverage its recent acquisition of retailer Samuel Jewels to promote Wimbledon Jewellery in the US, the biggest jewellery market. "The jewellery would be promoted in markets like US, Europe, Middle East, China and India. The company’s biggest strength would be a robust retail network and the vertical integration."
Balu Nayar, managing director, IMG maintained that Gitanjali’s business success, vast distribution and master brand status were the deciding parameters to receive rights of Wimbledon.
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