Ishi’s Plans Marketing Initiatives To Promote Diamond Jewellery Brand  ( August '5,2003, FE)

In a significant move, Ishi’s—the retail venture and division of Suashish Diamonds Ltd—has now charted out aggressive marketing plans to promote ‘Ishis’ diamond jewellery in India and the international market as well.

As part of the strategy, Ishi’s plans to be present in over 500 outlets globally in the next few years, Suashish Diamonds Ltd managing director Ashish Goenka told FE.

On the company’s new plans, Mr Goenka said: “We are investing over Rs 75 crore into the Ishis project whereby

Rs 50 crore will be earmarked for India, and Rs 25 crore for West Asia.”

As for the Indian market, the company is planning to promote Ishis through its multi-pronged distribution strategy and will address all consumer segments.

According to Ishi’s jewellery chief executive Marzin Shroff: “We plan to expand our existing number of ‘Ishis’ signature outlets from two (in Powai and Lokhandwala in Mumbai) to four in Mumbai. In Dubai, we will expand the number of outlets from one to three by the end of the year.”

The company is also planning to expand its ‘Ishis’ shop-in-shops from 3 to 14 within multi-branded lifestyle stores within a year. During the period, it is also looking at tapping the conventional jeweller whereby it is planning to convert at least 50 traditional jewellers to branded jewellers. This will be done by way of setting up at least 50 shops-in-shops within 50 jewellery showrooms across the country.

The company has recently segmented the jewellery market through occasions by launching Ishi’s ‘Delight’ (Rs 2,500-Rs 10,000), ‘Life’ (Rs 10,000-Rs 20,000) and ‘Commitment’ (Rs 20,000 onwards), based on price, occasion and design. The objective behind the move is to open up the Rs 600-crore branded jewellery market of the total diamond jewellery market which is estimated at Rs 8,000 crore.

The company is also exploring several strategic alliances with likeminded partners for providing synergistic solutions. “We are in talks with ICICI Bank to partner it in providing better solutions to its customers,” Mr Goenka added.

Ishi’s recently entered into a strategic alliance with Fame AdLabs whereby it launched a new consumer promo. As part of the promotion, Ishi’s branded vans moved around cities targeting colleges to develop proximity with teenagers. The winners of the contest were given a free movie ticket to Fame AdLabs.