The diamond boom in corporate world

Recently small, branded diamond Jewellery products are seen exchanged in the corporate gifting industry. Brands are playing a major role in propelling growth in the diamond jewellery industry. Branded products are bolstering consumer confidence with their assurance of quality. Brands cater to vary segments at different price points and new collections of the season are seen with the very coming festival - diwali, giving the customers the power of choice. Particularly remarkable is the huge boom in the demand for diamond studded jewellery in the corporate segment. Within overall jewellery sales the diamond segment accounts for around 20 - 25% of the total sales in which it obtains 75% of it's sales from metros. In which around 5-7% of the market sales is seen in corporate gifting. Though constituting in a small manner the corporate market is showing fast growth. It is seen to grow approximately 20% more per year.

The products seen to be most saleable as corporate gifts include small heart shaped diamond pendants, spiritual pendants, coloured diamond jewellery, small bud earrings, balis good for casual wear, minakari, kundan and polki work diamond jewellery products etc. Rings are also considered while gifting but they face the problem of size however delicate rings of standard size are also seen to be a part in the corporate gifting product range.

Some of the well known brands ruling diamond market, who have put their foot in corporate gifting are D'damas, Ciemme of C.Mahendra, Adora brand of Concept Jewellery (India) Pvt.Ltd., DTC's Asmi and Nakshatra to name a few.Festivals play an important role in a person's life and diamonds have successfully managed to merge itself as a part of their gifting traditions. The sales for diamond jewellery in the corporate gifting sector is said to further spike up in the coming diwali festival.This year it's seen that though Department stores, specialty stores and malls are the major channel partners of all branded diamond jewellery companies, diamond product manufacturers are also coming out with their own stores and marketing strategies targeting many corporate bulk orders at very exciting competitive low prices, for example C.Mahendra, under it's Ciemme brand are now providing 10Kt. diamond pendants and rings at just Rs.999/- & Rs.1999/-. When asked about the market of diamond jewellery in corporate gifting to Mr. Mahendra, - Director of C. Mahendra and Ciemme Jewels Pvt. Ltd. he was of the opinion that " The market for corporate gifting has become a vast emporium and diamond jewellery is slowly gaining importance in this field too as people are now looking for innovative gifts with a touch of reliability and value. The market demand for diamond jewellery has definitely improved than last year and the growth seems to be fast moving."

So the market definitely seems to be promising. One has seen that the dominant consumers of diamond jewellery for corporate gifting are the all major pharmaceutical companies and electronic companies. Diamond jewellery products are also used for cross promotions by many travelling agencies, cosmetic manufacturers, clothing industries etc. Even in the banking and service sector this kind of jewellery has worked as an effective promotional tool. Many well known banks present their premium customers with small branded diamond pendants on becoming the proud owner of their gold credit card and such other schemes. Also Adora a renowned company in branded diamond jewellery products had tied up in a particular scheme with HDFC in the 'Dream come true offer' where HDFC gifted diamond jewellery products to all the HDFC's premium customers who qualified the criteria of shopping with HDFC's credit card to a certain people who went beyond the limit given by HDFC . Branded diamond product serves to be an ideal gift to the valued customer and being branded it also comes with a touch of trust. The customers are known to preserve such gifts forever. Not always as a promotional tool, the diamond jewellery product is also used in the corporate industries as tool for boosting the employee moral like giving a small diamond pendant or a ring or a pair of small earrings to an employee who have completed twenty-five years of service in the company or for giving away low priced diamond studded gold pendants as gift to all the employees during festivals or when the company completes it's silver or golden jubilee years etc.