4-10 October 2013 #676

All that glitters

Gitanjali Jewels, the world’s largest integrated jewellery manufacturing company is launching its first authorised retail outlet in Nepal this month through Urja Ventures. Nepali Times caught up with director of Urja Ventures, Prausn Jalan. to talk about the brand, their products, and the prospects in the domestic market.

Nepali Times: What sets Gitanjali Jewels apart from its competitors?

Prasun Jalan: Gitanjali offers the world’s best brands and internationally certified jewelleries under one roof. We are also providing a first of its kind scheme in Nepal whereby credit card holders from IME and Nabil Bank can make purchases at zero per cent EMI for 18 months.

Who are your traget customers?

There is a misconception in the public that because Gitanjali is endorsed by well known personalities, its products are very expensive. But Gitanjali is for everyone. We have jewelleries starting from Rs 10,000 and our main aim is to give customers genuine quality products at affordable prices. Earlier Nepalis had to travel to India for Polki and other designer jewelleries. Today they can find it right at Darbar Marg.

How do you see the domestic demand for jewellery?

Nepalis mainly prefer classic and traditional designs. When it comes to diamonds, they generally look for big rocks because they think that the bigger the diamonds the better. But this is not true. Even small diamonds which are genuine have a lot of value. Gradually, the market is changing and the demand for well designed jewelleries is on the rise. This is where Gitanjali comes in. We offer an eclectic selection for people from different socio-economic background and all age groups.

Do you think there is enough awareness among customers regarding the quality of jewelleries here?

Very few people come into our store with full knowledge of what they want. So we not only sell products but also educate customers on quality and the different types of designs.

How will fluctuations in the price of gold affect the market especially during holidays?

Fluctuation in price is something that no one can predict. It is always wise to therefore break purchase rather than buy in bulk.

In April this year, the government discovered that many jewellery traders in Kathmandu Valley were selling sub-standard products. What is your reaction?

The government’s market monitoring drive created much needed awareness among people, therefore we welcome such steps and look at them positively. Earlier clients never asked questions about quality, but now they are becoming increasingly alert. For a company like ours which has always focused on quality, this is great news.