Tara Jewels, the renowned jewelry brand in India, expressed the hope that the upcoming festive season demand would give significant boost to domestic sales. However, the company has decided to focus more on international branded jewelry and aims to raise the volume of sale in this category to 60%.
According to the company, the extremely low gold prices coupled with the latest range of innovative designer products would help them to expand in the international markets. At the same time, it expects reasonable growth and healthy domestic sales on the occasion of upcoming festivals such as Dussehra and Diwali.
Rajeev Sheth, MD, Tara Jewels further stated that likelihood of cut in gold import duty would further boost gold sales in the country, though the chances look very remote as of now. Mrs Nirmala Sitaraman, Trade Minister had clarified last week that immediate cut on gold import duty is not under consideration of the government.
The Indian jewelry group also announced that its subsidiary Fabrikant-Tara International has entered into agreement with Zac Posen to market a new collection of handcrafted fine jewelry. The collection will focus on fashion, bridal and bespoke luxury pieces.
Tara Jewels is an integrated player in the industry whose expertise ranges from designing to manufacturing and retailing of jewelry with a portfolio of products that includes studded gold, platinum and silver jewelry.