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Kama Schachter Enters Diamond Retail in India

Feb 7, 2012 6:50 AM   By Dilipp S Nag
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RAPAPORT... Kama Schachter, a diamond jewelry manufacturer and exporter, is entering the Indian retail diamond jewelry segment through its premium offering ''Kama Jewellery.'' Kama will open its first retail store in Mumbai on Valentine’s Day.

''With the increasing surge of urbanization, Indian consumers are vying for diamond jewelry with a touch of reliability, quality and value,'' said Colin Shah, the managing director of Kama Schachter. “Kama is all set to offer differentiation and create aspiration in the couple band category, to build a brand in the untapped market for couple bands.”

Shah (pictured) stated that the Indian jewelry market is estimated to be about $20 billion (INR 1 trillion) and is growing at 10 percent to 15 percent annually, and hence there will be considerable opportunity for Kama.

The company said that its retail segment would have four vertical channels, namely ecommerce, business-to-business distribution of coins and bars for reward recognition programs, brick and mortar stores and distribution of its private-label brands through top independent jewelers across the country.

The Mumbai-based company is introducing two private label brands:  Kama Love, an exclusive range of couple bands and Kama Platinum, an exquisite range of best selling designs in platinum.

The company said it has already signed about 50 leading jewelers for distribution of its private labels. Kama has three manufacturing units in Mumbai and one in China.

Binay Goenka, the vice president of sales, stated that the company plans to open three to four stores this year in Mumbai and will later expand to other metros  such as Delhi, Chennai, Kolkata and Bangalore due to the growth potential in retail.

Shah said that the company is planning to invest about $10 million to $14 million (INR 500 million to INR 700 million) this year. It plans to open 20 stores in the next three years.
Tags: Colin Shah, Dilipp S Nag, India, kama, Kama Jewellery, Kama Love, Kama Platinum, Kama Schachter, retail
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