Observing the trend of growing number of Jewellery brands going online, renowned Chennai-based NAC jewellers, founded in 1973, have launched their online store under the name ‘Stylori’. N. Anandha Ramanujam, CG (GIA), Founder & CEO, NAC Jeweler, Chennai talks about his online launch experience.
Why did you think of launching an online store?
The joy of shopping in physical stores is fading away as people are preferring to buy everything online. So to reinvent or rekindle the jewellery shopping experience for Indian women, we decided to launch online store six months back.
Why it’s Stylori?
Stylori symbolises a unique style, love and story of Indian women.
How are you going to keep balance between your offline channel distribution and online service?
We are going to keep offline and online as completely two different segments. There will be companies to handle our online and offline services respectively. There will be no collaboration, because the jewellery we have at our online store and offline stores are completely different.
It’s an impulse buying at online platform. One doesn’t prefer to buy costly jewellery online so the collection offered there would be largely different from the collection offered in offline stores. The jewellery in the range of Rs 5000 to 60000 wouldn’t be available. Jewellery in low range with good look and design would be available online.
Along with online venture are you planning of expansion of your EBO’s?
Presently we are holding two EBOs each of which is spread over 15,000 sq ft of area. By 2017 we are planning to launch eight EBOs under the name of NAC Jewelers. All of these stores of 5000 to 6000 sq ft will be opened in south India only.
Along with that we aim to reach overseas market with Stylori along with becoming a-pan India brand in the coming two to three years.
What is the total amount of investment that would be pledged for the offline expansion? And what would be the source of funding?
We have not yet segregated the amount for store expansions yet and the source of funding would be bank loan.
Will these stores be company owned or franchisee?
All these stores would be company owned. They would be handled and controlled by the company management itself.
What could be the target territories for these stores?
Certainly we are planning to set up these stores in major Metros, tier II and III cities.
What is your target consumer group?
Our jewellery is preferred by teenage girls to sixty-year-old women.
What’s the type of jewellery you make?
We make pendants, earrings, rings, bangles and nose pins in modern and traditional designs.