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Competitor Analysis

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361 views3 pages

Competitor Analysis

Uploaded by

utkarsh.mishra810
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Competitor Analysis

Overview

The lab-grown diamond jewellery market is experiencing rapid growth, with


established players and new DTC (direct-to-consumer) companies securing for market
share. India's lab-grown diamond market is booming, attracting established jewellers, new
online brands, and even the unorganized sector.

Established Brands: They offer wider design choices and brand trust, but may have higher
prices and limited focus on lab-grown options. (e.g., Tanishq's "I:AM" collection)

DTC Companies: They offer competitive prices, ethical sourcing, and recycled metals.
However, brand recognition and design selection might be limited. (e.g., Bluestone,
CaratLane)

Unorganized Market: Lower prices exist, but transparency and quality can be inconsistent.

Online Retailers: Convenience and curated collections are key strengths unique design,
education about lab-grown diamonds, and exceptional customer service to compete with
these companies. (e.g., JewelBox, Limelight Diamonds)

Our Edge: We offer stunning lab-grown diamond jewelry crafted with affordability, high
sustainability, conflict-free practices, and recycled metals.

Unorganized Sector

While established brands and modern retailers are gaining traction, the unorganized market
remains dominant, especially for lab-grown diamond jewellery, which is a relatively new
segment. Here's a deeper dive into this complex landscape:

Scale and Structure:

 Dominant Player: Estimates suggest the unorganized market accounts for roughly
65% of the total Indian jewellery market, valued at over $57 billion (as of March
2022).
 Familiarity: This segment is characterized by a vast network of small family-run
jewellers, local artisans and independent sellers.
Challenges

 Limited Lab-Grown Options: Currently, lab-grown diamonds have a smaller


presence in the unorganized market compared to mined diamonds.
 Lower Awareness: Consumers may not be fully aware of lab-grown diamonds or
their benefits.
 Limited Supply: The lab-grown diamond market in India is still developing, and
established distribution channels for these stones within the unorganized sector may
not be well-developed.

Organized Sector

The organized market for jewellery in India is experiencing significant growth, driven
by increasing disposable incomes, growing brand awareness, and a shift towards
modern retail experiences.

Established Indian jewellery brands hold a significant position in the organized market,
offering a unique blend of tradition, design expertise, and evolving trends.

Tanishq (Owned by Tata Group):

o Strengths: Extensive national presence, strong brand recognition, focus on


both traditional and modern designs, wide product range catering to diverse
budgets.
o Lab-grown Diamond Strategy: Offers a growing selection of lab-grown
diamond jewellery under the "I:AM" collection, emphasizing affordability and
ethical sourcing.
o Marketing & Customer Experience: Invests heavily in marketing campaigns
featuring celebrities, and prioritizes customer service through well-trained
staff and after-sales services.
o
 Kalyan Jewellers:
o Strengths: Strong presence in South India, known for bridal jewellery and
traditional designs, focus on lightweight and contemporary collections
alongside heritage pieces.
o Lab-grown Diamond Strategy: Offers a curated selection of lab-grown
diamond jewellery under the "Muhurat" collection, targeting the wedding
segment with a focus on purity and auspiciousness.
o Marketing & Customer Experience: Utilizes celebrity endorsements and
regional marketing strategies. Offers loyalty programs and in-store customer
service initiatives.

 JewelBox:
o Strengths: Extensive curation of designer jewellery from established and
upcoming designers, offering unique and trendy pieces.
o Lab-grown Diamond Strategy: Offers a curated selection of lab-grown
diamond jewellery alongside mined diamond options.
o Marketing & Customer Service: Offers transparency on making charges of
the jewellery. Utilizes social media marketing and influencer collaborations to
target younger audiences. Offers customer service through online chat and
email support.

 Limelight Diamonds:
o Strengths: Focuses on certified diamonds (mined and lab-grown) with
detailed information and quality assurances. Offers customization options for
engagement rings and other jewellery pieces.
o Lab-grown Diamond Strategy: Positions lab-grown diamonds as a
sustainable and ethical alternative, highlighting their brilliance and
affordability.
o Marketing & Customer Service: Employs content marketing strategies to
educate consumers about diamonds and offers virtual consultations for
personalized recommendations.

 Andor Jewellery:
o Strengths: Specializes in modern, minimalist fine jewellery crafted with
ethically sourced gemstones and recycled metals. Offers transparency about
their sourcing practices.
o Lab-grown Diamond Strategy: Primarily focuses on lab-grown diamonds,
catering to a conscious and environmentally conscious consumer base.
o Marketing & Customer Service: Leverages social media marketing to
showcase their design aesthetic and commitment to sustainability. Offers
online consultations and styling advice.

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