TBZ’s Cupid Marks Its Branded Retail Presence  ( August '11,2003, FE)

Jewellery maker Tribhovandas Bhimji Zaveri (TBZ) has forayed into the branded retail segment with the launch of ‘Cupid’ store in Mumbai. The store will showcase exclusive gold and diamond jewellery. Initially Cupid will be opened in various parts of Mumbai and eventually rolled out in metros across the country.

TBZ manager (advertising & marketing) PC Gupte said six Cupid stores will be set up in various suburbs in Mumbai and they would be exclusive stores. “We will then look into expanding into other metros. After the Mumbai launch Hyderabad is next on the line,” Mr Gupte added.

He, however, refused to name the other cities which have been marked for expansion but said going ahead, Cupid could also be placed in shopping malls and department stores.

On the rationale behind having exclusive branded retail outlets, TBZ managing director Shrikant Zaveri said the decision to segregate the Cupid collection as a separate brand came from the potential for lightweight and affordable jewellery.

“The collection focuses on the practicality aspect, the jewellery is light weight and can be worn anytime unlike the traditionally heavy ones. Market research also pointed out that there is demand for everyday kind of jewellery and hence we decided to roll out Cupid as a separate brand,” Mr Zaveri added.

As far as positioning of the stores is concerned, they will be located in the main market area, which according to Mr Gupte would attract high-volume traffic. At the moment the range would cater to women but in time to come there would be jewellery for men too.

The pricing, which begins from Rs 775, has been decided keeping in mind the affordability factor, he said.