Lumineux Unos strength lies in the fact that this metal does not get black and tarnished: Manav Sarin

The gems and jeweler sector is one of the most important sectors of Indian economy and has been one of the fastest-growing sectors in the past few years. The domestic Gems and Jeweler industry had a market size of INR 251,000 Cr in 2013, with a potential to grow to INR 500,000 – 530,000 Cr by 2018. Considering its immense potential and contributions, Gitanjali introduced a new venture this year, Lumineux Uno. Lumineux Uno is a new metal created by Unolux Metallo Valenza S.R.L., after years of careful research and development. It is a unique alloy formed from the amalgamation of four precious metals i.e. gold, platinum, palladium and silver. Lumineux Uno launched in India for the first time and is available in the form of bars and coins, besides being used in jewellery. The primary color of the metal is white, though it is also available in plated yellow and rose gold. Retailer media caught up with Manav Sarin, Sr Vice President, Gitanjali Gems Ltd to know more about the freshness of the metal.

Please tell us about Lumineux Uno
Lumineux Uno is a new metal that we have launched in India. We are going to take Gitanjali at new heights; Jewelsouk is one of our sites, which is doing tremendously well. We have introduced solitaire on an EMI model, so now a girl who could not afford it earlier can now have it for Rs 3000 per month by paying only 12 months EMI. Talking about Lumineux, the inventory cost for setup of a showroom is very high, so we have come up with a metal, which is a rare blend of four different metals namely, Gold, Platinum, palladium and Silver. Combining these 4 in a certain ratio gives birth to a new metal, Lumineux Uno. The brand is a trendsetter. Bappi Lahiri is our brand ambassador, so now he is shifting from gold to Lumineux Uno.

How will you define the USP of Lumineux Uno?
The specialty of this metal is that it is doesn’t get black, it does not get tarnish. So now a shop can be stocked with this metal and the shopkeeper needs not to fear that the metal might get black. A girl who wants a new design after every six months can wear my metal, she can give me the buyback, Lumineux Uno is available across multiple channels, Every day the buying back rates are displayed on the websites. The metal costs as low as Rs 130 per gram and the brand is growing in India rapidly.

What are your future expansion plans?
Currently we are present in 8 cities. Moving ahead with a rapid expansion we are launching in 52 cities one by one. Talking about franchising, Lumineux Uno is a new metal, if a shopkeeper is opening a Lumineux Uno franchisee in his city, he will be the only one selling this metal. Therefore, for franchising, we are coming with exclusive franchisee store model, a distribution model and E-franchise for Gitanjali stores.