Daughter of a famed traditional jeweller of Jaipur, Manju Kothari possess an exemplary aesthetic sense. She founded luxury jewellery brand Entice in 2004 in Hong Kong. As a creative director of the company, Manju created beautiful and intricate pieces and spread her business to China, UAE and India. Creative Design Thinker, Curator and Creative Director of Entice, Manju had a head start in her career as she developed a strong penchant for modern aesthetics and a refined eye for detailing in jewellery very early on. Manju Kothari plays an instrumental role in positioning Entice, KGK since 1905 as the most iconic globally that offers timeless jewellery of the to suit varied flairs of today’s women. Under her leadership, Entice has transcended the conventional barriers of business to emerge as an innovation-led modern retailer.
Indian luxury market continues to grow post covid 19, as there is a still demand and desire in buying diamond jewellery. However, people have gradually digested these effects and have moved on. Primarily, the jewellery industry is divided into three markets; one is a family jeweller who knows their personal circle or has a group of people who are their customers. Secondly, a designer brand where customers buy unique pieces. And thirdly luxury brands who has a chain of stores who can build on customer loyalty and delight activities in this pandemic situation by being able to reach out to their loyal customers. So even if you are a luxury player, it is the time to create business by getting the maximum exposure to the brand digitally or by door to door. Anything that helps luxury brands to reach out to people is the biggest saviour. There has been no softness in the market, in the gold or even in the demand. The price is only going up in this shortage of supply in the raw material. And there is still a supply and demand-based market even in such weak times.
Digital era
There is another rapid growth in the marketing is going digitally. Heavy pieces n call for physical visit as there is a need for experiencing the expensive pieces whereas sleek and light pieces gets sold on video calls or through digital catalogue. At present, customers prefer to buy lightweight pieces comfortably at their convenient place. That is why; we as a retailer are also focusing on the same. There is an utmost need of increasing this digital platform not just to sell the product but to engage, connect and provide bespoke experience to the customers and focusing on customer delight.
Changing experiences
Customers will embrace those brands who are showing a sense of responsibilities and empathy in the hour of crisis. Changing their shopping experiences is a critical role of every retailer now. At the same time, it is important to remain at the top of the mind of our loyal customers. One on one engagement and conversation with them has become the need of the hour.
Introducing luxury unique designs at affordable prices
Customers are still showing willingness to buy entry level diamond jewellery pieces between 25k to 90k and investing in the same. Luxury retailers do have an opportunity in this challenging scenario to entice new customers by introducing collections at lower price points.
Focusing on wedding season
Wedding season dominates the jewellery purchasing in India. We are anticipating more growth in purchasing jewellery by the second leg of 2021 for the marriages scheduled in April/May and Nov/ Dec. We can retire downstream of scale, people are concentrating and focusing on themselves, because as every bride and groom wants a picture-perfect wedding. Therefore, there is not going to be much change in the desire or demand to wear and make every bride look beautiful on her day.