In an effort to increase gold retailing in India, World Gold Council (WGC) is in talks with top retailers Pantaloon Retail and Reliance Retail to strategise marketing and supply of gold in the country.
“We are negotiating with Reliance Retail and Pantaloon to provide marketing programme and identify as well as source gold jewellery from manufacturers in India and abroad to Reliance Retail and Pantaloon,” WGC’s managing director Philip Olden said in a statement.
“We will also provide retail training, merchandising and advertising to retail players in India,” added Olden.
WGC strategy is to improve and transform gold market in India. Its annual spending on marketing initiatives in the country is estimated at USD 16 million. It has 12 Indian partners including leading brands like D’Damas and Tanishq.
WGC is an organisation funded by the world’s leading gold mining companies with the aim of promoting demand for the precious yellow metal. The organisation’s programmes in India are targeted towards stimulating a fashion-based market.