Kama Schachter Moves Into Jewelry Retail

Wedding bands are replacing the traditional mangalsutra, according to Kama Schachter's managing director, Colin Shah

Colin Shah, Kama Schachter's Managing Director, said that the firm's first Indian retail outlet would be opened in the Mumbai suburb of Andheri on Valentine's Day. The firm would then open a second outlet at the Bandra Kurla Complex (BKC) area – where the Bharat Diamond Bourse is located – and planned to open one outlet every quarter across the country.

Shah explained that the Indian jewelry consuming market, unofficially estimated at $20 billion, is among the fastest growing in the world, with a projected annual growth rate of 10-15 percent.

In order to speed up the establishment of the Kama brand in India, Shah said, the firm is launching four vertical initiatives alongside the store openings. These include two jewelry brands that would be offered to other retailers. The first, Kama Love, features rings in gold and platinum, mostly set with diamonds. This brand targets couples and is intended to become the brand of choice for life milestones.

According to Shah, Indian social mores are rapidly changing and wedding bands for men and women are replacing the traditional mangalsutra, the beaded necklace that denotes the married status of a woman.

The second line is Kama Platinum. Platinum jewelry purchases by Indian consumers are rapidly increasing and the line intends to place Kama at the forefront of this growth.

According to Shah, 50 retailers had already decided to offer the branded lines and the company plans to have them in 100 outlets over the next year.

Kama has also launched a diamond jewelry retailing website, www.kamajewellery.com, as well as a "Loveathon" contest on Facebook that offers prizes such as diamond rings. According to Shah, the initiative has already garnered 30,000 fans.