Going online seems to be the mantra for branded jewellers in India. Though nascent – only 10% of branded jewellery sales happen online – the success and growth prospects of online jewellery retail store has made premium jewellery brand Gitanjali jump onto the e-commerce bandwagon.
However, instead of setting up its own online store, Gitanjali is offering e-franchises, where an intermediary can sell its wares for a commission. “This is an extension of our storebased franchisee,” says Deepak Tulsian, business head, Gitanjali Group. This is another method of sale, but the catch is the much-lower investment , he explains.
“If you want to start a physical store, you have to invest Rs 1 crore and above in inventory. In e-franchisee scheme, the investment is from Rs 5 lakh to Rs 15 lakh.” The scheme offers three options: Ecom Partner, for online retailers selling multiple brands; Retail SIS, for family jewellers, and boutique and ethnic store owners; and Direct Sellers , for housewives, financial planners and new entrepreneurs.