Despite recession Chemmanur plans 60 jewellery showrooms globally
14 February 2009
Chemmanur Fashion Jewellers, which opened its showroom in Raghuleela Mall, Vashi, Navi Mumbai on 15 February, is planning it big with five more stores in the Mumbai metropolitan region. Boby Chemmanur, its chairman and managing director, shares his plans with Aruna Rathod.
What are your expansion plans in Mumbai?
I plan to set up 60 branches by 2010 worldwide and out of these six will be in Mumbai. After Vashi, we plan to open stores in Opera House, Goregaon, Vasai, Dombivli, and one place which is yet to be identified. This is the best time to set up a gold showroom as people are now buying gold as an investment. Earlier, it was just worn as ornaments. There are people who buy and sell everyday depending on the rate.
How do you plan to attract customers from other brands to your brand?
I am confident once a customer visits our showroom he/she will come back. The quality and collection is good. My policy is that I don't take a profit margin from customer for first 10 days of the shop inauguration. After 10 days I give 10 per cent discount and whenever anyone buys three tolas, we give a free gift.
Why did you decide to come to a mall in Navi Mumbai?
I have been planning since a year and our research tells me there are more than 4 lakh South Indians here. I find that the new generation is into malls. There are many shops and air-conditioned comfort which allows shoppers to move around comfortably. The parking facility is a boon. I found that abroad the same concept is followed. Many branded jewelers like Tanishq and others brands are in malls and same is the case abroad. An added advantage is the security. We have the brand name so wherever we are I am confident that people will come to us.
Do you plan to introduce specialty South Indian designs here?
We are introducing our own diamond brand called `Myown' diamond brand and also will be introducing naked diamond design which is diamonds without a frame, done with laser technology. As an inaugural offer we are offering 26 per cent flat discount. Besides this, for Mumbai, we will be introducing a world collection since there is a cosmopolitan crowd here. Our specialty is Italian designs in 22k gold. I concentrate on two ranges: 100 milligram which is very lightweight just Rs150 onwards but very tiny items like a bindi or, tiny earrings and then there is the other range with weightage up to 100 gm.
How often do you introduce new designs?
Every week.
What do you expect from Mumbai?
Gold is a strong investment, so people buy all the time and all communities invest in gold. My expectation from the investment-savvy Mumbaikars is the same.
