‘Global firms are eyeing India for fashion jewellery’

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: the fashion jewellery market growing in India today?

Over the past two years, the market has been doing really well and is growing rapidly. Our factory is running at full capacity. We are thinking of expanding the capacity by 100% with an investment of Rs 10 crore to Rs 15 crore in the near future. The only hitch is that it will be extremely difficult to manage yet another factory as the business is entrepreneurial in nature. We will firm up our expansion plans on capacity addition within a quarter as we see a growing demand for fashion jewellery worldwide. Currently, domestic revenues contribute about 60% of the overall revenues while exports account for 40%. This was not the case two years ago.

What is the growth prospect of fashion jewellery market in India?

According to a report, the organised fashion jewellery market in India is estimated to be around Rs 600 crore and is expected to touch Rs 1,500 crore by 2010. There are probably five to six organised players operating in the country. And lot of jewellery gets unauthorised entry into the market. However, we hold about 10% share in the organised market and will continue to grow in the future. There is a stiff competition in the fashion jewellery market as people copy the designs and sell it in the market. We work very hard to ensure the design is not copied. We have patented over 1,000 styles but still there is a threat to the designs developed by our research and development team.

How acceptable is the Estelle brand in the international fashion world today?

Brand Estelle has earned good credibility in the international market. We have the unique distinction of being a preferred buyer for leading fashion brands in the West like Disney, Givenchy, Tommy Hilfiger, Jones New York, Napier and several others. In fact, Disney sources kids’ fashion jewellery from us. It is a significant thing because their quality specifications are very high especially for kids’ jewellery. The permissible limit of lead in kids’ jewellery is 0.02%. Our designs range from earthy and ethnic to chic and western, upmarket and evergreen in their appeal.

Where does your team get the design inspiration from ?