Fashion jewelry brand 'Voylla' unveils its flagship store in Bhubaneswar

India’s largest fashion jewelry brand Voylla has opened its flagship store in Bhubaneswar, Odisha, at Esplande Mall. The brand is retailing from both offline and online mediums, the brand at present has over 160 stores all over India.

Vishwas Shringi, CEO of Voylla, said, “We have opened our store in Bhubaneswar understanding the changing fashion sensibilities of the customers, in which accessorizing plays a very important role. With the second store here, we are spreading across the country in this financial year. As a leader in the fashion jewelry segment, we aim to cater to the aspiring audience in tier I, tier-II and III cities.”

Started by Vishwas Shringi and his wife Jagrati Shringi in 2012, Voylla has over 250 stores across India and more than 1.5 million hits per month on its online platform.

Apart from women’s jewelry, Voylla also has a special segment of men’s accessories.

Bringing New Collection

The brand has not only unveiled a new store but also showcased its latest collection called Indigo Affair and Gwalior. The new collection is inspired by the classic heritage of the state and is handcrafted to perfection. It has a contemporary aspect to it and is aesthetic in look and feel.

Also Read: Small Towns & Millennials Are Driving The Growth Of Jewellery Franchises

The in-store collection will be providing Indigo Affair and Various other range of jewelry for wedding and everyday styling. Voylla further has a collection of jewelry inspired by the state of Odisha.

Jewelry Market in India

Jewelry has been a significant part of India culture from ancient times. Indians' love for precious jewelry can be vouched for the fact that India is the biggest buyer of gold in the world.

In India, the Gems and Jewellery industry is one of the largest in the world, contributing 29% to global jewelry consumption. Gems and Jewellery’s market size in the country contributes to about 7% of India’s GDP and has grown at a CAGR of more than 14.8% over the last 50 years.

Also Read: Fashion Jewellery Overtakes The Market

A major shift from unorganised to organised sector

Previously, the jewelry market was largely dominated by local jewelers and unorganised players. However, with time, people became skeptical of the quality and purity of the jewelry made by local players. This has made the consumers increasingly shift from the unorganised to the organised sector.

With the rise of the urban population and increased disposable income, there has been an increase in demand for premium products and established brand names.