GIVA, the silver jewelry brand, has embarked on a remarkable journey to redefine the jewelry retail landscape in India. With a unique blend of affordability, accessibility, and a commitment to sustainability, the brand has rapidly expanded its footprint, establishing itself as a prominent player in the market.
The Experience Center Concept
GIVA's experience centers are designed to elevate the jewelry-buying experience. With personalized services, fashion consultants, jewelry cleaning, and lifetime plating, these centers encourage customers to spend time exploring and engaging with the jewelry. The brand aims to make silver jewelry, often associated with fast and impulse buying, a thoughtful and immersive experience.
The brand's choice to launch its first experience store in Delhi's Karol Bagh was driven by a desire to be close to customers and tap into the rich history of the location. Karol Bagh, a bustling market known for its history, became the ideal destination to showcase its store and unique jewelry experience center.
“Currently boasting 75 stores across 20 cities, we envision reaching 150-200 stores in 40 cities within the next year. The average store size has grown from 400-500 square feet to 1500-2000 square feet, allowing ample space for customers to browse an extensive collection,” said Anirudh Kudva, Vice President, Offline Stores, GIVA.
Online and Offline Presence
While Giva has made significant strides in the online space, capturing a substantial market share in just four years, the decision to establish a physical presence reflects the brand's commitment to being wherever the customer is.
“Currently, offline contributes to about one-third of our business, with plans for aggressive expansion. We see both online and offline channels coexisting harmoniously, providing customers with a seamless omnichannel experience,” he stated.
Integration of Technology
To overcome physical constraints and showcase its vast collection, the brand leverages technology in its experience centers. Customers can explore designs not physically present in the store, with the option to have selected items delivered to their doorstep within two hours.
Additionally, tech integration facilitates online customers to locate products in nearby physical stores, encouraging them to try before making a purchase.
Giva adopts a dual approach to marketing, focusing on ground-level engagement and robust digital strategies. Teams actively engage with communities, societies, and neighborhoods to create awareness of the brand's proximity. Simultaneously, digital marketing efforts target potential customers across platforms, ensuring widespread visibility and recognition.
Giva offers a diverse range of jewelry categories, including pendants, rings, bracelets, toe rings, nose pins, anklets, and more. With price points ranging from Rs 999 to 15,000, the brand caters to a wide spectrum of customers.
“The recent introduction of a gold and lab-grown diamond collection showcases our commitment to sustainability, affordability, and innovation,” asserted Kudva.
While focusing on scaling its presence in the Indian market, Giva is also exploring international opportunities. The brand has successfully ventured into the US online market, garnering significant attention from NRIs seeking authentic and affordable jewelry. Plans for international expansion are underway, reflecting Giva's ambition to become a global player in the jewelry industry.
Copyright © 2009 - 2024 Franchise India Holdings Ltd