Indian Jeweller (IJ) June - July 2020

Retail & ecommeRce
Retail & ecommeRce
Bobby Kothari of
Jewelex invests
in augmented
reality app
mirraR
Indian fashion tech startup
StyleDotMe announced that it
has raised a total of INR 3.5 crore
in a pre-series funding round led by
Survam Partners followed by Bobby
Kothari, Director Jewelex India as a
Strategic Investor & with continued
participation from existing investors
from IAN (Indian Angel Network).
StyleDotMe’s
powerful
Augmented Reality technology,
mirrAR has revolutionised the
Jewellery Industry by enabling
virtual try ons in real time. With a
strong client portfolio consisting of
150+ jewellers like Tanishq, Kalyan
Jewellers, Senco, HazooriLal Legacy,
etc. across 28 cities, mirrAR is now
ready to enter the global market.
Aisshpra Gems & Jewels
offers Exclusively Yours
home jewellery service
Exclusively Yours is an appointment only
service that the brand will be providing to their
premium clientele in Uttar Pradesh where the
customer can experience the creations from the
house of Aisshpra from the comfort of their homes.
The Exclusively
Yours Service
integrates MirAR,
an augmented
reality app where
the customer can
also experience
unlimited designs
on the IPAD.
The process is
simple where service a customer can simply brief
about her requirement to the store executive via
WhatsApp/ Zoom video call. Says Vaibhav Saraf
Director, Aisshpra, Gems and Jewels, “Considering
the expected lifestyle changes in the New Normal, it
was essential to adapt.”
Senco Gold & Diamonds focusing
on omni channel sales
Senco Gold and Diamonds, is focusing on omni
channels to reach customers during this
pandemic. The brand has introduced various
customer friendly initiatives so that the customers
can do shopping at
the comfort of their
homes, without
any concern of viral
infections. They can
now connect with
stores through video
calling, and access
e-catalogs.
Kalyan adds video calls
for selling gold jewellery
Kalyan Jewellers has launched a live video
calling facility for customers in the UAE. The
service allows them to continue shopping for
jewellery from
their preferred
Kalyan outlet
w i t h o u t
stepping out
from their
homes.
With the
introduction of
video calling,
the brand aims
to provide an
in-store experience to customers and showcasing
even minute details that gives customers the
confidence to make decisions this way.
Tanishq reported that revenues
for the first quarter of the fiscal
year 2020-21 were impacted
by the pandemic. Having suffered
complete loss of sales in April due
to the lockdown, revenue in May and
June months were at slightly below
20 per cent and around 70 per cent
compared to the corresponding
months of the previous year.
As of the end of June 2020, Tanishq
has reopened around 95 per cent
of its stores to date. Customers are
being encouraged to visit stores
by appointment only to avoid long
wait times due to social distancing
protocols, the company noted.
Kalyan Jewellers
revives iPo plans
A
Moneycontrol report with
inputs from anonymous
analysts said the IPO could be
valued at Rs 1,600 - 1,800 crores.
Kalyan jewellers had to defer plans
of an IPO in 2018
but was confident
of pulling an
IPO in current
times owing
to a “healthy
normalcy” in the jewellery sector.
The report also quotes a source as
saying that the company estimated
a growth of 35 percent with its
online businesses and a normalcy in
wedding business.
Tanishq reopens 95% of stores
68 | june-july 2020 | INDIAN JEWELLER
INDIAN JEWELLER | june-july 2020 | 69