Kohinoor Jewelers is an imaginary jewelers from Nagpur,who are in their 75th year and are opening the Diamond specialty store known as Diamond Arcade in the hometown ,Nagpur. It is basically a short business plan submitted in accordance with Retail management subject in PGDM course in IMT Nagpur. There are some mistakes which we have done, we are apologized for same and any other comments or feedback will be appreciated.
Any reference to living person or fact or store is pure coincidental.
PS: Our presentation was runner up in the course.
2. Presenters
AAKASH KISHAN
AASHIMA DUA
ABHISHEK DUA
ACHINTYO DAS
AMEY MAIRAL
ANURUPA BANERJEE
APOORV DWIVEDI
3. Vision:
To be amongst the most reputed and leading jewellery
companies in India.
Mission:
To provide high quality jewellery and exquisite designs and
excellent customer service at affordable prices.
Our Values:
Honesty
Integrity
Transparency
Friendliness
4. History:
Kohinoor Jewellers, with a heritage of 75 years, is one of the
oldest jewellery organizations in India that started its
operation in 1938. Over seven decades, the company has
managed to keep its jewellery designs contemporary
considering modern needs and preferences, yet sustained the
core values and essence.
With more than 45 showrooms in India covering 80000
square feet, with more concentration on west. It has
maximum stores (15) in Nagpur.
Kohinoor Jewellers, export operations covers countries like
USA, UK, Singapore and Middle East. It has a manufacturing
unit in Mumbai that employs more than 300 karigars and
creates 10000 pieces of jewellery every year.
5. Current Industry Scenario:
The gems and jewellery industry occupies an important
position in the Indian economy. It is a leading foreign
exchange earner, as well as one of the fastest growing
industries in the country.
The two major segments of the sector in India are gold
jewellery and diamonds. Diamond jewellery forms around 20
per cent of the Indian jewellery market that includes diamond
and gemstone studded jewellery.
Gems and jewellery is one of the fastest growing sectors in the
Indian economy with an annual growth rate of approximately
15 per cent. The gems and jewellery industry accounts for
nearly 20 per cent of the total Indian exports and employs
over 1.3 million people, directly or indirectly.
6. Change in Market trends:
Today’s consumers like innovative design patterns with a traditional touch,
which adds to variety and range.
With the arrival of international branded jewellery in the domestic market,
the industry is subject to stiff competition and is expecting a gloomy
growth.
The increase in disposable income in the consumers is making them to ask
for better products and services, and a better shopping environment.
Organized retailing in the country’s small towns is already growing at over
50-60 per cent a year, compared to 35-40 per cent growth in the large cities.
The major challenges faced are from the branded jewellers. They have
dominated the market for years, although their pricing is slightly expensive
than ours.
Today, price is not the only consideration as it was a few years back, when
prices used to play a major role in purchasing.
7. •Location at Poonam Chambers
•It is secondary business unit.
•It has a chain format.
9. MERCHANDIZING
Jewellery manufacturing unit at Mumbai
Capacity of the factory is to produce 10,000 pieces
per annum
Diamond jewellery is manufactured in 18 cts gold and
VVS quality of diamonds in GH colour are used in
the diamond jewellery
14. RETAIL OPERATIONS
1. STORE ADMINISTRATION AND MANGEMENT
PREMISIS
OF
Days : Monday-Saturday
Timings : 11 AM- 8 PM
Transaction/ hour = number of transaction/no of hours =
12/9 = 1.33
Sales per transaction = net sales / number of transactions
= 2,10,000/360 = 58,333
Hourly customer traffic = customer traffic in / number of
hours= 40/9= 4.44
15. STORE ADMINISTRATION
Cleanliness
stock in the display windows are changed every week.
AT 10 AM the store manager arrives and start with the
setting up and arrangement of the stock.
16. 2. MANAGING INVENTORY AND DISPLAY
Documented procedure for handling merchandise
quantity and other details like weights and sizes have
to be checked with the document accompanying the
goods, to detect any discrepancies.
17. 3. MANAGING RECEIPTS
We accept cash, draft, credit card, debit card and credit
facility to trusted customers.
18. Budgeting and Financing
Set up cost : Rs 4,00,000
Security system(5 cameras):7500
Rental cost : Rs 1,20,000 per month.
Salary of sales persons(4): 28000 per month.
Karigar’s salary(2): 24000 per month.
Store manager salary(1): 18000 per month.
Housekeeping staff(2):3000 per month.
Security guard salary(1): 5000 per month.
Electricity bill: 40000-50000 per month
Advertising and promotion expenditure: 20,00,000 per annum
Miscellaneous expenditure: 10000 per month.
Average manufacturing expenditure of jewellery: 1,35,00,000
19. Competition Analysis
TBZ jewellers
Tanishq jewellers
Batukbhai jewellers
Sathe jewellers
Parekh jewellers
Londe jewellers
Das jewellers
These jewellers are all located in Dharampeth , Sadar
and Sitalbuldi area where they have a number of retail
stores operating.
20. MARKETING STRATEGY
Expanding into new venture
Exclusive diamond showroom for celebrating 75th year
of Kohinoor Jewellers
Hoardings at places like Ramdas Peth, Byramji town
and other upscale areas of Nagpur
Special brochures for new store.
Inauguration by Madhuri Dixit.
Online promotion through facebook and twitter.
Web Sales has increased with emergence of ecommerce.