Gitanjali Group, a leading group in branded jewellery segment, aims at Rs 200-crore business during the one month long festival period starting October 5 and culminating with Dhanteras and Diwali this week.
Out of this, Gitanjali Jewellery Retail Private Limited, a group company with 62 exclusive stores in 45 major towns across the country, targets to clock Rs 50 crore business.
“We are hopeful to achieve the target as the company has come up with several sales promotion schemes to attract customers during the period”, said Santosh Srivastav managing director of the company.
The volume of business of the jewellery companies is generally high during the Hindu festival period as the people prefer to buy the precious yellow or silver metals during this time. The trade particularly picks up during the Dhanteras festival, just ahead of Diwali.
Last year, during the festival period, Gitanjali Group had clocked Rs 120 crore business. This year, the target has gone up mainly on account of increase in prices of the precious metals.
In order to achieve the target and to lure the customers, the company has announced several discounts and cash back offers on purchase of gold and diamonds during the period.
Under the Samriddhi Diwali offer, the company has announced 100 per cent waiver on making charges on gold coins. The offer which starts on Wednesday, will be valid till Friday, company sources said On its Samriddhi Diwali offer (October 5 to November 10), the company has announced free solitaire jewellery on purchase of diamond jewellery. A diamond solitaire pendent gift worth Rs 5000 will be given on purchase of the diamond jewellery from Rs 15,000 to Rs 35,000. Similarly the gift worth Rs 7,500 and Rs 13,000 would be provided to the customers on purchase of the diamond jewellery of Rs 35,001 and Rs 55,000-75,001 respectively.
On purchase of Rs 75,001 to Rs 95,000 and above, free gift worth Rs 17,000 and 30,000 will be offered. The company has also announced the cash back offer on purchase of jewellery. The offer is valid for the entire festive period from October 5 to November 10.
On purchase of diamond jewelry in the range of Rs 15,000-Rs 50,000, the customer will get five per cent cash back. The cash back offer however is increased to 10 and 15 percent on purchase of diamond jewellery Rs 50,001-Rs 1, 00,000 and Rs 1,00,001- Rs 2, 50,000 respectively.
