Gerald Ratner, founder of Gerald Online, UK's online jewellery website is all set to foray in the Indian online jewellery market in a month’s time. The company has tied-up with Iksula, an Indian online solutions provider company to launch the website.
Touting India as a promising market, Gerald said the online jewellery portal will be a great success, “I’m looking forward to venture into the Indian market and I feel that it has great potential waiting to be unleashed for impressive Return on Investments. The Indian online jewellery segment in India is in its infancy. The same may result in some initial hiccup but with the technological advancements, it is inevitable to grow at a pace.”
Gerald said he’s going to implement innovative marketing strategies to market the Gerald Online’s Indian website. Also, the product offerings will be customized for Indian customers.
“In UK, people prefer diamond jewelleries made of 9k, but same is not with the Indian market, as Indians appreciate jewelleries made of 18k or 24k. So, we will be customizing product offerings to suit the Indian customer’s taste. We are not going to replicate product as offered in the UK market. We aim to create jewellery which will match the Indian buyer’s taste,” he added.
The company is still in talks with payment gateways once that is done the website will be launched, informed a source.
Gerald Online is run in collaboration with SB&T International Ltd, an export manufacturing company based in India. The diamond jewellery being sold on Gerald Online is manufactured in Mumbai. Former chief executive of the Ratners Group (now the Signet Group) Gerald Ratner is known as ‘The Sultan of Bling’. He is famous for the ‘Ratner Effect’ a term originated from a controversial speech he made in 1991 which slashed his firm’s profits considerably.