GRT launches bridal collection in platinum
By Our Corporate Bureau | 22 Sep 2006
Chennai: For the first time in the country, the Chennai-based G R Thanga Maligain (GRT) has launched a comprehensive bridal jewellery collection in platinum. The collection consists of engagement and wedding rings, neck and wrist wear for the bride and bracelets, chains and rings for the groom.
According to G R Ananthapadmanabhan, managing director, "The demand for platinum jewellery is on the rise during the wedding season. Platinum jewellery now forms part of wedding purchase." Incidentally, GRT has been awarded as the best platinum jewellery showroom by Platinum Guild India for third consecutive year. According to him, Chennai is the largest market for the white metal jewellery.
Agreeing that the white metal is very costly - Rs2,000-Rs2,500 per gram- he says, "What we say is, have atleast one platinum jewellery in your portfolio. We have a range of items that starts at Rs8000 and goes up to Rs2 lakh per piece." The bridal collection set costs around Rs10 lakh.
Speaking about the liquidity of platinum as compared to gold, he says, "Like gold we will buy back the jewellery at the prevailing market price. The platinum jewellery buy-back scheme is similar to what we have for our gold jewellery." According to him as the metal itself is new to India, the volume that comes for repurchase is quite low now.
GRT is targetting the ensuring festive season to increase the sale of platinum jewellery. In a matter of 45 days- starting 22nd September 2006, the country will celebrate around 25 festivals.
GRT will start is ad blitz soon to take advantage of the festive season. Forty per cent of the ad spend will be shared by the Platinum Guild India. According to Ananthapadmanabhan, GRT's share of spend will be around Rs35 lakh.
