For all those who thought online shopping was only for the budget-restrained, had much to ponder over in 2015. With preciously jewellery emerging a standout category on online channels, manufacturers and retailers made a beeline for e-commerce, peddling even the most exotic diamonds successfully.
Omni-channel entrants included brick-and-mortar jewellery retail giants Titan Company and Gitanjali Group, with the latter asserting that it expected online transactions to account for much as 20 percent of its sales in two years’ time.
Along with the growing number of speciality online jewellery retailers, a headline maker was a string of investments made by well-known business leaders and high-profile Indian jewellery retailers.
The potential did not go unnoticed even by Ratan Tata, who invested in Bangalore-based BlueStone in his personal capacity in July. US hedge fund Tiger Global also invested in Caratlane, while PC Jewellers hired a US company to conduct a study on the long-term prospects of the market.