Indian Silver Emporium has launched BIS hallmark silver jewelry and artifacts for the first time in the country. The company offers silver jewelry with 912 purity and hallmarked silver artifacts with lifetime buyback guarantee.
According to Rahul Mehta, Managing Director, Silver Emporium, customers could return the silver holdings bought from them at any point of time in exchange of new jewelry of same weight. The customer could also opt for cash instead of new jewelry. The hallmark logo in the jewelry makes the trade trustworthy, he added. He further stated that the new range of hallmark jewelry and artifacts could boost customer confidence in silver jewelry.
The company plans to launch four new showrooms displaying hallmark jewelry. The outlets will be opened in Tier-I cities of Mumbai, Chennai, Bangalore and Jaipur, where the demand growth potential is believed to be immense. The launch of the showrooms will boost purchases of quality jewelry by customers. In addition, the presence of the showrooms may prevent customers from indulging in purchase of low quality silver.
The expansion plan comes at a time when consumer sentiment is at its low for silver jewelry. The company believes that the opening of new retail outlets will help convince customers about quality in silver. Although, an immediate breakthrough is not anticipated, the retail business sector is likely to post strong growth when market sentiment turns positive. There has been a slowdown in sale of silver jewelry and artifacts due to recent correction in silver prices. However, by offering quality jewelry, the company aims to win back the trust of customers, which in turn will aid revival of business in future.
Currently, Silver Emporium is the only manufacturer in the country that offers 100% buyback and cash convertibility- as system that hitherto existed only in gold jewelry. Silver Emporium creates wide range of exquisite silver products, which are sold domestically and exported to clients in the USA, China, Italy, Spain, Thailand and Dubai.