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If you have money to invest, buy gold and wait, says Ramesh Kalyanaraman of Kalyan Jewellers

<ul><li>The usual fervor of the Big Fat Indian Summer weddings have given way to downsized miniature ceremonies this season. </li><li>However, consumers are investing the money they save from these small weddings in gold to secure their future. </li><li>On the back of these trends, <keyword id="1483203" type="PERSON" weightage="20" keywordseo="Ramesh-Kalyanaraman">Ramesh Kalyanaraman</keyword>, Executive Director, <keyword id="413856" type="COMPANY" weightage="20" keywordseo="Kalyan-Jewellers">Kalyan Jewellers</keyword> is optimistic that the brand will be able to expand its customer basket size by 30%. </li><li>We caught up with Kalyanaraman to understand how intimate weddings emerging as a trend has affected the <keyword id="556004" type="PERSON" weightage="20" keywordseo="jewellery-industry">jewellery industry</keyword>, various safety precautions it has taken across operational showrooms, and a lot more. </li></ul>The global pandemic hasn’t affected Indians' love for weddings and gold. They are coming up with out-of-the-box solutions, whether it is to organize weddings virtually and/or buy diamond studded or gold plated masks. Over the past three quarters, the value of gold has continued to accelerate. As a result, Kalyan Jewellers is now looking to increase its customer basket size by at least 30%. The brand also managed to close 10% of its annual <keyword id="126295" type="ORGANIZATION" weightage="20" keywordseo="Akshaya-Tritiya">Akshaya Tritiya</keyword> business with a unique initiative that was tailor-made for quarantine. It launched a Gold Ownership Certificate which allowed customers to purchase and own gold on Akshaya Tritiya. The certificate could be redeemed against physical gold, in the form of jewellery or coins, on or before October 31, 2020. The brand is still witnessing ‘a steady stream of footfalls’ across its operational showrooms from consumers who bought the certificate. Looking at these trends, Kalyan Jewellers’ Executive Director, Ramesh Kalyanaraman, voiced his optimism for the recovery of the sector. He shared with us how intimate weddings emerging as a trend has affected the jewellery industry, various safety precautions it has taken across operational showrooms and why the brand decided to align its marketing monnies on digital to adjust to the volatile market. Excerpts: Q. Tell us a bit about your campaign #MuharatAtHome. What is the idea behind it? What are the challenges you are facing in conducting ad shoots considering the restrictions? Weddings have always brought people together. This year, with lockdown restrictions in place during peak wedding season, it was presumed that everyone would postpone their wedding plans, but we were pleasantly surprised to see that this wasn’t the case at all. We saw families trade grand ceremonies for intimate functions, ruled by minimalism, simplicity and personalization. It is this trend of intimate weddings that our #MuhuratAtHome campaign captures. For the ad campaign we opted for an ‘at-home’ shoot with limited cast and crew, following state specified shoot protocols. As this is going to be a Pan-India campaign with multiple iterations, it was shot in three cities, with three separate teams. In each of these locations, the advertising agencies involved, followed the guidelines issued by local authorities and recreated a home-like intimate wedding set up. Q. How difficult was the lockdown period for Kalyan Jewellers? Initially it felt strange, because this was the first time in all these years that all our showrooms were shut at the same time. After a week, we realised that we will need to make good of this time, and so we started using it more productively to strategize, realign priorities and plan our next steps. For the staff, we conducted online training sessions. We also did customer outreach more as a gesture than anything else. We were actively involved in many CSR initiatives, be it collaborating with our brand ambassador Amitabh Bachchan and Sony Pictures Network. During Akshaya Tritiya, at the request of regular customers, we launched the Gold Ownership Certificate which allowed customers to purchase and own gold on Akshaya Tritiya. The certificate could be redeemed for against physical gold, in the form of jewellery or coins, on or before October 31, 2020. To our surprise, this was very well received, and we managed to do close to 10% of our annual Akshaya Tritiya business with this initiative. Q. How are your preparations for unlocking going? What are the various safety precautions you have taken across operational showrooms? We have heightened the safety and hygiene measures across our operational showrooms to safeguard the health and safety of our patrons and the community at large. All customers are given temperate checks with handheld scanners at the entrance. Customers are required to use single-use glove in the showrooms, and this is made available to them upon entry. Masks are provided to anyone who is not wearing it already. Deep cleaning of showrooms is undertaken at regular intervals through the day, and all high touch point zones like counter tops, door knobs etc. are frequently sanitized. We feel that going forward, even when the lockdown is completely lifted, these hygiene practices will become the new normal. Q. How have you observed consumer behavior changing lately? And what are some of the consumer buying trends witnessed in regions where showrooms have reopened? Over the past three quarters, we have witnessed a surge in gold prices and the value of gold, as an asset, has continued to accelerate. It is the only asset that has proved to be a promising and safe investment option for consumers across the country. In line with this, we are looking at an increase in the customer basket size by at least 30%. Furthermore, with DIY or intimate weddings emerging as a trend, the wedding-related expenses on venue booking, catering, etc. have reduced and customers have more disposable income at their end, which is now being allocated to investing in gold jewellery. Additionally, shoppers who have postponed their weddings are making purchases as planned by availing our bridal lounge facility, for a personalized shopping experience. Currently, we are witnessing a steady stream of footfalls across our operational showrooms. A segment of those footfalls are customers who are reaping the benefits of pre-booking their gold jewellery or those who purchased the Gold Ownership Certificate this Akshaya Tritiya. Some are there to exchange their older gold for newer pieces. Looking at the current trend, we are fairly optimistic about the recovery of the sector. Q. What has your marketing strategy been during the lockdown? Did you modify your media mix, with marketing investments getting shifted from one medium to another? One of the biggest trends that has emerged out of the nationwide lockdown is the huge surge in screen time spent by Indians across digital platforms. In line with this, brands have begun to align their marketing budgets towards digital, social media &amp; OTT, especially when it comes to placing new content. In line with this, we introduced temporary changes to our media mix with a more digital-centric approach. For campaigns such as #MaaTuneSonaKaDilPaya (Mother’s Day), we leveraged crowdsourced photographs from our social media community wherein some of the best moments were handpicked to feature in a campaign video. Amitabh Bachchan was the voice of the campaign, and it was well received. The #MuhuratAtHome campaign is also a result of a similar online-only strategy. Q. We are sure the future of retail and jewellery industry will never be the same. How are you making sure you opt to digital media, online selling policies and physical distancing need to help your consumer? The unique aspect to the jewellery business is the concept of privacy while shopping which has always existed. Families come together and prefer to sit together, a little away from other families that are shopping. Kalyan Jewellers’ showrooms are therefore standalone showrooms, which are either mid-size, large format or flagship showrooms, designed to allow this unique shopping practice. Our counters are also demarcated as wedding, gemstone, diamond or daily wear jewellery – which is an added advantage during these times of social distancing. (Auspicious days like Akshaya Tritiya or Dhanteras are the only times when this rule doesn’t apply.) Additionally, as mentioned earlier we have launched appointment facilities for our bridal lounge services which can be availed by wedding shoppers for a personalized shopping experience. Q. Do you think this experience will change the way you market your brand in the future? The USP of the brand will remain the same, but the channels of marketing might change. Naturally, when you change the channel, the way you communicate the same brand USP will get amended. In the coming years, we intend to focus on targeted marketing campaigns. Q. The pandemic and the lockdown has brought with it a lot of learning. What are your major learnings from this experience so far? During the lockdown, we re-evaluated many aspects of our business, and realised that with careful planning, we can cut costs under various heads, without affecting the overall performance of the business. We intend to implement this learning even going forward. With showrooms spread across the country, our senior and mid-level management used to travel extensively. Now with the lockdown rules, travel has reduced significantly, and we are managing our operations remotely. This saves both money and time. Going forward, we plan to carefully rationalise travel needs. Our marketing campaigns have also evolved post the lockdown, and we are looking at targeting online campaigns instead of larger campaigns, and this is also working well for us. Another lesson for the future.

Indians are buying more gold from the money they would otherwise have spent on big fat weddings

<ul><li>FM increased customs duty on precious metals, articles of gold, silver and platinum and imitation jewellery in the Budget 2023-24.</li><li>Increase in import duty will raise prices of silver and <keyword id="571733" type="General" weightage="20" keywordseo="silver-jewellery" source="Orion">silver jewellery</keyword>, which will impact demand and will also be detrimental to refineries, said CRISIL.</li><li>Import duty on articles made of precious metals increased to 25% from 22%.</li><li>Higher tax increases the cost for consumers as the country imports most of the bullion it consumes.</li></ul>Jewellery is set to get a lot more expensive, as customs duty on precious metals, articles of gold, silver and platinum and costume jewellery has been increased in the Union Budget presented by Finance Minister Nirmala Sitharaman on Wednesday. To make matters worse, basic customs duty has been hiked on articles made from gold bars. Apart from these, customs duty on electric kitchen chimneys, bicycles, toys, electric vehicles and cigarettes also increased. “I also propose to increase the import duty on silver dore, bars and articles to align them with that on gold and platinum,” said FM in a budget speech in Parliament. The centre did not raise import duty on gold as India had raised its import duty on gold in July 2022 to 12.5% from 7.5%. India meets most of its gold demand by importing the precious metal. The basic customs duty on silver was raised to 10% from 7.5%; and agriculture infrastructure and development cess (AIDC) on imports to 5% from 2.5%. “Increase in import duty will raise prices of silver and silver jewellery, which will impact demand and will also be detrimental to refineries,” said CRISIL in a report. The import duty on articles made of precious metals was increased to 25% from 22%. Higher tax increases the cost for consumers as the country imports most of the bullion it consumes. “Rise in import duty on imitation jewellery will raise product prices, impacting demand,” said CRISIL in a report post budget. Share prices of most jewellery stocks were trading lower on Thursday <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jewellery stocks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PC Jeweller </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.01% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Uday Jewellery Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.64% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kalyan Jeweller </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.07% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tribhovandas Bhimji Zaveri </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.96% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.23% </td></tr></tbody></table> Industry body Gem &amp; jewellery export promotion council (GJEPC) said that the industry had recommended reduction in import duty on gold/silver and platinum, which has not been considered in the Budget. “Council will continue to pursue the same with the government for the overall welfare of the industry,” said GJEPC. The council said that the rise in import duty will increase prices of silver products in domestic markets. “The Union Finance Minister has also rationalised the import duty on silver by proposing to increase the import duty on silver dore, bars and articles to align them with that on gold and platinum. However, that will have a net effect of an increase of around 5% duty at import level for silver resulting in increase of price for silver products domestically,” added GJEPC. Lab grown diamonds to boost gold demand, say experts Meanwhile, the FM has reduced basic customs duty on seeds used in manufacturing of lab grown diamonds from 5% to Nil. The government sees lab grown diamonds as a technology and innovation driven emerging sector with high employment potential. These environmentally friendly diamonds have optically and chemically the same properties as natural diamonds. To encourage indigenous production of seeds and machines and to reduce import dependency in the long run, a research and development grant will be provided to one of the IITs for five years as announced in the budget. “The government’s innovation-led and technology-driven approach reflects in its investment towards research on lab-grown diamonds, which will generate new employment opportunities, while resonating with the export as well as urban Indian market,” said Ramesh Kalyanaraman, executive director at Kalyan Jewellers. The increase in import duty of silver is unlikely to impact significantly to Kalyan Jewellers. “The increase in the import duty of silver will not have a significant impact for us (Kalyan Jewellers), as our primary focus is on gold, diamond and other precious stone studded jewellery,” said Kalyanaraman. Further, lab grown diamond research funding is likely to benefit Vaibhav Global, manufacturer of fashion jewelry, says analysts at Goldman Sachs. Experts say that as lab grown diamonds become more popular and cheap it will eventually reduce demand for natural diamonds and improve demand for gold. “The government also gave a thrust to the lab-grown diamonds industry by reducing the basic customs duty on seeds used in their manufacturing. If lab-grown diamonds become more mainstream in the time to come, it could be positive for gold demand as demand for natural diamonds and thus their prices and appeal as an investment asset declines,” said Ghazal Jain, fund manager- alternative investments at Quantum AMC. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/gautam-adani-says-it-would-not-have-been-morally-correct-to-continue-with-adani-enterprises-fpo/articleshow/97542675.cms">Gautam Adani says it would not have been ‘morally correct’ to continue with Adani Enterprises FPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/gautam-adani-calls-off-adani-enterprises-fpo-after-28-crash-in-stock-price/articleshow/97534098.cms">Gautam Adani takes the high road and calls off Adani Enterprises FPO after a 28% crash in stock price</a>

Gold and silver jewellery to get a lot more expensive

<ul><li><keyword id="413856" type="General" weightage="20" keywordseo="kalyan-jewellers" source="Orion">Kalyan Jewellers</keyword> India has recorded a profit after tax (PAT) of ₹108 crore in Q1FY23.</li><li>The company has witnessed momentum in footfalls and revenue across India and Middle East markets.</li><li>Kalyan aims to increase its retail footprint in India by another 8%, before Diwali this year.</li></ul>Hefty import duties and gold price volatility did not take the shine off Kalyan Jewellers, as it reported a net profit of ₹108 crore in the April-June quarter. In the same period last year, it reported a loss of ₹51 crore. Its consolidated revenues stood at ₹3,333 crore almost doubling from ₹1,637 crore reported in the same quarter last year. “The recently concluded quarter has been a positive one for Kalyan Jewellers, having witnessed robust momentum in both footfalls and revenue across India and Middle East markets. Revenue momentum in the current quarter has remained encouraging, thus far, and we are keenly looking forward to the upcoming <keyword id="36208" type="General" weightage="20" keywordseo="festive-season" source="Orion">festive season</keyword>,” said Ramesh Kalyanaraman, ED, Kalyan Jewellers India. In the Middle East, which contributes around 17% to its overall business, the jewellers’ total revenue from operations went up by 69% to ₹574 crore in Q1 as against ₹340 crore last year. The jewellers’ stock surged by 5.87% in today’s trade, as per NSE. Increasing its footprint Kalyan Jewellers, which launched its first franchised showroom in Q1, aims to increase its retail footprint in India by another 8%, before Diwali this year. This new line up is planned in the non-South markets. It will also focus on scaling up operations within micro markets of tier-1 cities like Delhi and Mumbai, while aggressively expanding its presence in tier-2 and tier-3 markets. “We have built a meaningful pipeline of additional franchise showrooms on the back of very encouraging responses from potential franchise partners, and we are on track with our expansion plans for the current financial year. We believe the successful launch of the first set of franchised showrooms will give us the confidence to further enhance the pace of expansion through this significantly more capital efficient and return accretive path,” said Kalyanaraman. As of June 30, 2022, Kalyan Jewellers' store network across India and the Middle East stood at 158.

Kalyan Jewellers posts ₹108 cr net profit; looks forward to festive sales

<ul><li>Data analytics services company <keyword id="5165543" type="General" weightage="20" keywordseo="latent-view-analytics" source="Orion">Latent View Analytics</keyword>’ IPO has been subscribed 11.35 times so far. The IPO will conclude on November 12.</li><li>Analysts are bullish on the analytics services industry as they see future demand for such services to solve complex customer problems.</li><li>In line with the positive view on the company’s outlook, the grey market premium of the company’s shares has risen to ₹285 from ₹230 earlier.</li></ul>Latent View Analytics’ initial public offering (IPO) has received strong demand from investors in just one day of the bidding process. The IPO of the 15-year old data analytics services company, which opened on November 10, has been subscribed 11.35 times as of 1 p.m., on November 11. The IPO will conclude on November 12. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription status </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.25 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.30 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">51.79 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overall </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.35 times </td></tr></tbody></table> One reason for the huge demand in the IPO is rising grey market premium which signals strong listing for the public issue. In line with the positive view on the company’s outlook, the grey market premium of the company’s shares has risen to ₹285 from ₹230 earlier. Latent View Analytics is looking to raise ₹600 crore through the public listing of shares. The IPO comprises a fresh issue of ₹474 crore and an offer for sale of ₹126 crore by existing shareholders and promoters. The company will utilise net proceeds from the fresh issue of the IPO into inorganic growth initiatives, working capital requirements of subsidiary Latent View Analytics Corporation and investment in subsidiaries to augment the capital base. The 15-year old company provides analytics services such as data and analytics consulting, business analytics and insights, advanced predictive analytics, data engineering, and digital solutions. It provides services to blue-chip companies in technology, banking, financial services and insurance (BFSI), consumer packaged goods (CPG) companies and retail, industrials, and other industry domains. Adding to it, brokerage firms are also bullish on the analytics services industry as they see future demand for such services to solve complex customer problems. “We feel in future there will be a great demand for pure play analytics company [sic] like Latent View, which is engaged in providing analytics services, offering an in-depth understanding of solving complex customer problems and assists business entities in making an informed decision. Thus considering the bright future and attractive valuations, we assign a “SUBSCRIBE” rating for the issue,” said Choice Broking in a report. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/leading-crypto-players-in-india-likely-to-meet-with-indian-government-next-week-to-give-inputs/articleshow/87642591.cms">Leading crypto players in India likely to meet with Indian government next week to give inputs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/if-you-have-money-to-invest-buy-gold-and-wait-says-ramesh-kalyanaraman-of-kalyan-jewellers/slidelist/87641971.cms">If you have money to invest, buy gold and wait, says Ramesh Kalyanaraman of Kalyan Jewellers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/elon-musk-sells-tesla-shares-worth-1-1-billion-after-conducting-twitter-poll/articleshow/87641618.cms">Elon Musk sells Tesla shares worth $1.1 billion after conducting Twitter poll</a>

Latent View Analytics’ GMP increases to ₹285; IPO subscribed 11 times so far

<ul><li><keyword id="413856" type="COMPANY" weightage="20" keywordseo="Kalyan-Jewellers">Kalyan Jewellers</keyword> made its debut on the National Stock Exchange (NSE) at ₹73.95.</li><li>This is a 15% discount to the issue price of ₹87 per share.</li><li>Analysts expect that most of the investors, who were allotted shares, are likely to sell on listing.</li></ul>Kalyan Jewellers, one of India’s leading jewellery brands, listed on the stock exchanges today at ₹73.95 — a 15% drop from its initial public offering (IPO) price of ₹87 per share. One of the factors that may have contributed to Kalyan’s discount to issue price is aggressive pricing. The company’s financials have been struggling for the past two financial years and jewellery is a sector that currently finds itself out of favour. The ₹1175 crore IPO saw muted interest only getting <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-kalyan-jewellers-ipo/articleshow/81626536.cms">subscribed to 2.61 times</a>. This doesn’t bode well for the company that regards Titan Company’s Tanishq as its key competitor in the market. Analysts <a href="https://www.financialexpress.com/market/ipo-news/kalyan-jewellers-ipo-listing-day-strategy-grey-market-premium-missing-sell-on-listing-or-hold-shares-for-long-term/2219933/">expect</a> that most of the investors, who were allotted shares, are likely to sell on listing. What has investors worried about Kalyan Jewellers? Kalyan Jewellers has a huge presence in India’s southern states. Overall, it has over 100 showrooms in 21 states and union territories across the country. Outside India, Kalyan has a foothold in the Middle East with 30 showrooms. But its financials, of late, were <a href="https://www.businessinsider.in/business/corporates/news/kalyan-jewellers-will-be-going-up-against-titan-but-remains-sceptical-jewellery-business-can-ever-fully-go-online/articleshow/81478749.cms">not so impressive</a>. It suffered setbacks in 2019 following cyclones and floods in southern states. And, when the pandemic hit, the company was unable to register positive cash inflows for nine months ending December 2020. While industry reports suggest that there may be an uptake in jewellery buying as shoppers redirect their funds from big, lavish venues to jewellery — there is still considerable uncertainty around the demand for gold as India sees a second wave of COVID-19 spreading across the country. Moreover, the executive director of Kalyan Jewellers — Ramesh Kalyanaraman — does not believe going digital will help the company. “I don’t see online replacing offline ever in our sector,” he told Business Insider in an interview. Unlike Kalyan, Titan took up digital solutions to boost demand during the pandemic as customers looked for contactless ways to buy jewellery. Nonetheless, Kalyan’s hyperlocal strategy has, so far, worked in its favour. Before the IPO opened up to the public, the Warburg Pincus-backed jewellery bigwig raised nearly ₹352 crore from 15 anchor investors including the Government of Singapore, Monetary Authority of Singapore, HDFC Life Insurance and BNP Paribas Arbitrage. The funds will be used for Kalyan’s working capital requirements and general corporate purpose.

Kalyan Jewellers makes a lacklustre debut, listing at 15% discount to issue price

Mumbai, May 10 () With retailers starting to open their shops in green zones, the gems and jewellery industry is slowly inching back towards normalcy, but is witnessing just 20-25 per cent sales. The Ministry of Home Affairs (MHA) has allowed shops to open during the lockdown, which has been extended till May 18, for essential commodities and standalone business establishments of non-essential goods. All India Gems and Jewellery Domestic Council (GJF) Chairman Anantha Padmanabhan told that jewellers have opened shops in few states after taking permission from local authorities in the last one week. "These retailers are doing 20-25 per cent business as people are coming to buy wedding related jewellery as gold prices are going up and also those who had bought gold online during Akshaya Tritiya are also coming to redeem their purchases," he added. Gold prices in India are currently ruling at Rs 45,000 per 10 grams, he said. The jewellers' body is keeping an eye on how COVID-19 situation pans out till May 18 and what decisions are taken by the government, he added. In Tamil Nadu, Padmanabhan said jewellers have approached authorities to allow them to open shops. "We have sent representations to the authorities to allow us to open shops. We will take all precautionary measures under the government guidelines to curb the pandemic," he added. Meanwhile, Kalyan Jewellers has opened 10 stores in the last week, one each in Odisha, Assam, Puducherry and seven in Karnataka after getting clearance from state governments. "We have opened 10 stores in India since last one week and are taking all safety measures for curbing COVID-19 pandemic, including social distancing, store and hand sanitization among others. "These stores are opened after discussions with the local governments. Currently, we are witnessing wedding related purchases," Kalyan Jewellers Executive Director Ramesh Kalyanaraman said. He said the company has enough inventory to cater to its customers and is constantly in touch with local governments and taking stock of the situation. "We are inventory ready and will open the rest of our stores once the local government gives the go ahead. Once all our stores are open, we expect business to come back to normal momentum within a month," he said. The company, which has 34 stores in the Middle East, has opened 13 of them in the UAE and Qatar, he added. Senco Gold and Diamonds has also announced reopening of its stores across green and orange zones in four states -- West Bengal, Odisha, Assam and Karnataka. Headquartered in Kolkata, the company plans to start operations across all locations in a phased manner following clearance by the concerned government authorities. "We have started operating at selected stores in four states after getting approvals from local government authorities. To ensure safe hygienic shopping experience for our customers and for the well-being of our employees, we will be following all suggested safety measures," Senco Gold and Diamonds Executive Director Suvankar Sen said. "We are ensuring contact-less shopping experience by using new age technology and emphasizing on digital payments," he added. The company is also promoting its e-commerce platform for shopping and is suggesting customers to do first round of selection with the help of e-catalog, prior to visiting the store. Meanwhile, Tanishq, a jewellery brand from Tata Group, on Saturday announced plans to reopen its 328 stores across the country in a phased manner by opening first 50 stores by Sunday. It would continue to comply with all rules related to COVID-19 lockdown, while reopening and running operations, the company said a statement. "We are reopening our stores in a phased manner because each store has to pass an eligibility test prior to re-commencing operations. This is to ensure each store is 100 per cent prepared to manage the store, staff and customers," CEO of jewellery division at Titan Company Ajoy Chawla said. SM RVK

COVID-19: Jewellers start opening stores, sales down to 20-25 pc

<ul><li>Marketing has always been about understanding how a consumer reacts to certain triggers and how brands can use that to influence them.</li><li>After the year 2020 turned the marketing world upside down, brands and businesses of all sizes had to reimagine their communication strategies and evolve with the rapidly changing times.</li><li>Brands started offering a helping hand to consumers by leveraging their social media presence to either amplify citizens’ SoS for ICU beds or to spread awareness around vaccination registration.</li><li>In 2021, the focus shifted primarily to digital channels owing to the pandemic.</li><li>As we enter a new year with a lot of hope and optimism for the future, we speak to a few brands to discuss how the pandemic impacted their marketing activities and what the future holds for marketing.</li></ul>After months of multiple nationwide lockdowns in 2020 and living and working in isolation, the Indian <keyword id="11095746" type="General" weightage="20" keywordseo="marketing-ecosystem" source="Orion">marketing ecosystem</keyword> started preparing for a new future. Brands decided to pause, reflect, rework their strategies and most importantly, prioritise consumer interest. They focused on creating more enhanced consumer experiences online as we all waited to physically get back to our ‘normal’ lives. A few brands decided to reach out to people who were crying for help and many brands swallowed their pride, kept aside fierce rivalry and started uplifting their competitors in social media posts instead -- even burger and cola wars stopped. Consumers started yearning for stories that uplift and inspire them to keep going in the otherwise gloomy times. There was a new-found appreciation for empathetic advertising and nostalgia marketing in the brandverse, which continued in 2021. Brands delivered some hope and delight with every post and advertisement. They also started speaking one-on-one with their consumers across social media channels more than ever and delivered on what is asked of them because GenZ and Millennials are quick to call out unconnected brand purposes. Brands also moved along with the great digital migration of consumers and expanded their digital presence. They also factored in the massive economic upheavals due to the pandemic and offered value-based deals. They engaged with consumers on smart devices and interfaces across the home, expanded their media mix to include virtual reality, video conferencing platforms and video gaming platforms. This year’s Ipsos and Tetra Pak report found that the personal, economic and environmental fragility experienced during the global pandemic has created a shift from more passive concern to active caretaking -- driven by the desire to protect ourselves, our communities and the security of the planet. People are being more proactive in making the right purchases – for their own wellbeing and for the environment around them. This includes dietary choices and recycling more and reducing waste. As a result, we have seen more eco-friendly product and packaging launches this year. The concern for the environment will only grow stronger and brands will be expected to align themselves with a larger purpose. With a new-found appreciation for life and altered perspectives towards marketing, we reached out to Indian brands from different sectors to find out what are some of the trends that they expect to see in 2022. Here is what they said: Pankaj Sharma, Director – Consumer Products Division, L’Oréal India: Indian beauty consumers have become more discerning as they move between online + offline buying and experiencing paradigms. And in this journey, eCommerce will continue to play a big role in driving beauty in India. It has created more opportunities for consumer experience and demand fulfillment. The initiatives like live streaming, e-BAs, Video-Content on DIY have enabled new touchpoints. This has allowed more specific media and activation plans for each region, depending on the festive peaks. For example, at L’Oréal India, we used Insta-Festive as one of our umbrella themes and could do insta-diwali, insta-pujo, insta-karwa, insta-onam as activation points to engage with consumers on e-commerce and digital with the power of data. Apart from targeting festive occasions, we are moving towards occasion-led purchases, celebrating personal milestones of life. Hence beauty brands are sending out relevant brand communications throughout the year, with the same rigor, as one would have done during the festive season before. The festive season, however, still sees an uptick in purchases and offers a variety of formats to give consumers what they’re seeking. Raunika Malhotra, President - Marketing &amp; Corporate Communications, Lodha: In the coming year, I see stakeholder marketing becoming increasingly relevant. It essentially means working towards creating value for all stakeholders that include customers, employees, vendors, communities, natural capital, cities, etc. The other trend that we will witness is the increased use of analytics and data scientists in marketing communication and performance. Lastly, the pandemic has made people more conscious of the community and the environment at large. They are looking to engage with brands with shared values of doing good for the society and the planet. Abhishek Shahabadi, Vice President &amp; Portfolio Head, Scotch and Premium Whites Diageo India: There’s been good momentum on Diageo India brands in 2021, despite operational challenges due to pandemic led restrictions. This is attributed to the growing trend of ‘at-home drinking’. The off-trade salience increased to 88% compared to 73% in the pre-pandemic phase, as individuals were constrained to more intimate drinking occasions at home. We see at-home drinking as a strong trend coupled with the growth of outdoor experiences in 2022 as the market opens. Keeping this in mind, Diageo India continues to strengthen its in-home play through off-trade and digital along with influencer engagement to embrace ways to make at-home drinking experiences more enjoyable. Arnab Roy, Vice President, Marketing, Coca-Cola India &amp; Southwest Asia: While this year has tested the thinking and resilience of brands worldwide, going forward, we hope that the pandemic continues to regress and we get the real magic back into our lives. As people step out of their homes more often, they will be looking out for more real activities like watching blockbusters at multiplexes, visiting their favourite food “gullies” and travelling more frequently with their loved ones. Post COVID we are also seeing a trend where people are more experimentative and open to new genres of music, food, sports and entertainment. It is thus imperative for brands to deliver integrated experiences at a global scale with the agility, speed and data-driven insights that are required to win locally. Ramesh Kalyanaraman, Executive Director – Kalyan Jewellers: Gold has always been a preferred consumption item for Indians and in the post COVID-19 era, it has also emerged as one of the safer and more lucrative long-term assets. The dynamic market scenario and uncertainty caused by the COVID-19 pandemic led to renewed interest from younger consumers who bought into the idea of gold jewellery, for the first time. Today’s young consumers or millennials consider jewellery as a fashion statement and a style symbol that will go with their sensibilities and help them showcase their true self. Because of this, it has become increasingly critical for jewellery companies to keep up with newer trends and address the changing sensibilities and consumer preferences in this ever-evolving business environment. To address the ongoing digital transformation in India’s jewellery industry, we are focusing on creating a holistic ecosystem, strengthening our omnichannel strategy and making the ‘phygital’ model more seamless. Over the past few years, we have been making consistent investments in developing and leveraging technology to offer convenient solutions to customers for purchasing jewellery or investing in gold. As a result of this, we were well-positioned to adapt to this digital transformation and ventured into newer product categories such as Digital Gold as well as explored newer avenues to reach our customers by introducing services such as Gold Ownership Certificate and LIVE Video Shopping facility, which allowed customers to browse through and purchase jewellery at the comfort of their homes. One of the biggest trends that have emerged out of the nationwide lockdown is an enormous increase in the screen time spent by Indians across digital platforms. In line with this, brands have aligned their marketing budgets towards digital, social media &amp; OTT, especially for including new content. Following this, we have introduced temporary changes to our media mix with a more digital-centric approach, which is a key to making the most during this quarter. With 2022 around the corner, we aim to continue moving forward on this growth trajectory and register consistent growth while widening our consumer base. Kartik Johari, Vice President - Marketing &amp; Commerce, Nobel Hygiene: 2022 will be the golden year for great marketeers, as content will reign supreme. We are drowning in a glut of content, be it 10 sec Reels, to full-blown documentaries. Consumers on the other hand are oscillating between anxiety, fright and boredom. The challenge is up to us, to create content that can engage, reassure, add value and be honest. It is so important to keep a track of how many people the content reaches, who engages, and what they say. We have never had so much data on our interactions and it is time we start using data better! It should be an interesting year for strong brand teams. Ketan Kulkarni, Chief Commercial Officer, Blue Dart: The world has acclimatized to the ‘new normal’ and what seemed to be the most challenging obstacle of 2020, has now enabled us to prepare for any unprecedented events that could cause business disruptions in the future. A major factor in actualizing this is agility driven by technology and automation. The role of logistics has been highlighted over the last two years given our industry’s essential service status and this has only been possible because of the technology-based solutions adopted by resilient players. 2022 will definitely see an enhancement in the ‘Technology-led transformation’ that we are witnessing today. Digitalization across the supply chain from first mile to last mile is the future of the industry; technology enabling near-autonomous facilities, robotics, drone-delivery systems, and 3D/additive manufacturing are going to be adopted very quickly. The reason is, in the event of another unprecedented crisis, organizations would want to ensure ‘business-as-usual’ to cause minimal business disruptions. The underlying theme of 2022 would revolve around creating business models that will survive in a ‘less-contact’ society. Amrinder Singh, Director, Bonn Group of Industries: It's been a fantastic year of change and recovery for both consumers and businesses. Consumers prioritised their safety while dealing with illness, job loss, lack of available products and services. Anticipating change and adapting for future challenges accordingly can help enterprises see around corners and plan effectively for the post-pandemic consumer. Businesses are riding on the pandemic-accelerated digital transformation wave and the trend is likely to continue. Around 80% of companies are allocating resources to improving their e-commerce and shopping platforms. This includes a full 60% investment in their digital direct-to-customer (DTC) channels. The digital shift also includes transforming internal capabilities and creating efficiencies with the help of technology. The future of retail will be omnichannel shopping or phygital retail. New technologies will continue to transform the retail sector with rapid change and innovation. Retail consumers will expect frictionless and tech-enabled experiences. As retailers and manufacturers embrace a direct-to-consumer model through e-commerce, traditional marketing channels will continue to blur. Satish NS, Senior Vice President, Sales and Marketing, Haier Appliances India: Today, hyper-personalization is inevitable for brands to get closer to their consumers. More than ever before, brands need to work on identifying and nurturing relevant cohorts for the business and reach out to them with tailored content that strikes an instant connection between the brand and its consumers. Since digital gives us the liberty to phenomenally reduce the distance between a brand and its customers, it’s important to create critical touchpoints along the consumer journey that will enable a more immersive brand experience with a 360-degree approach. Moreover, leveraging creative strategies on digital to deliver business impact will continue to become even more important in the coming years. Next year, we will also see an uptick in brands that will be experimenting big with performance marketing tools to help drive better ROI for the business. Manish Bandlish, Managing Director, Mother Dairy Fruit &amp; Vegetable Pvt. Ltd: The year 2021 was yet again a dynamic year however, the revival has been remarkable for us at Mother Dairy. Preparedness coupled with collaboration, resilience and agility played a vital role in the pandemic stressed quarter of this year, to ensure wellbeing of each and every employee as well as business continuity in order to serve our consumers. The year saw new products, markets and experiences, both for the business as well as the consumers. Despite the happenings, this year saw consistent supplies as varied channels such as e-commerce continued big-time. In addition, the consumption trend of consumers which began witnessing a change last year are persistent this year as well with in-home consumption and preference for packaged foods going strong.

You Searched For "Ramesh Kalyanaraman" and got 8 results

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