Market for imitation jewellery pegged at Rs 100 cr per annum

Our Corporate Bureau

Hyderabad, Nov 19: The demand for fashion jewellery is on the rise over years. According to the industry estimate, the total market value is at Rs 80 crore to Rs 100 crore per annum.

Though imitation jewellery cannot be a substitute for traditional gold or silver items, some of its rare features such as low cost, stylish appearance, and scare-free environment have gained popularity among the younger ones in the country.

“Demand for these products is increasing by about 10 to 15 per cent per annum”, said Mr Gusti Noria promoter of Normak fashions (P) Ltd. The company has commenced operations during 1989 from Hyderabad as its headquarters.

Normak, a 50:50 venture between Canadian Estelle of Normak and Indian promoter, has two manufacturing plants in Uppal industrial area about 20 km from Hyderabad, with an installed capacity of 3 million pieces per month each.

The jewellery is made from several layers of specially prepared alloys evenly plated together, while the final coating is of gold, silver or rhodium. All the stones, crystals and pearls used in the settings are of impeccable quality, Mr Nirua said.

The company sells its products through its exclusive showrooms and distributors. The company also plans to enter promotional tie-ups with multi-national companies. “We have tie ups with leading FMCG manufacturers like Hindustan lever, Henkel India, Colgate-Palmolive, Duncan, Emami etc.”, Mr Noria said.

Further, the company proposes to establish three more exclusive outlets taking the total to 30, Mr Noria said. It has recently opened an exclusive centre at Hyderabad, while it has about 150 distributors through out the country.