Future Group (formerly Pantaloon India) plans to re-enter jewellery retailing with Goldiam International, which will create an exclusive jewellery brand for the company to be sold at its Big Bazaar outlets. After closing down its Gold Bazaar retailing venture with Chintamani jewellers, the retailing major through its subsidiary company KB Infin recently picked up a minority stake in the Rs 240-crore Mumbai-based BSE-listed jewellery company - Goldiam International.
Goldiam International is exploring the possibility of creating a new exclusive brand in the economy segment (below Rs 5,000) for silver jewellery to be sold through the Big Bazaar outlets. The new brand is expected to be an affordable ethnic range and we would targeting the middle class in smaller towns where Big Bazaar is already present.
Meanwhile, with the Future Group having picked up a 10 per cent stake in Goldiam International, the latter expects its own brand - Ola, to get a leg up, courtesy Pantaloons network of stores. It is already vending the Ola brand at Pantaloons stores and expects to extend the brand at the new retailing formats being explored by the retailing company. Besides, Ola also expects to be an exclusive jewellery brand to be retailed through Pantaloons new e-commerce venture - Future bazaar.com.
At the same time, Goldiam International will also be launching its own stores and its first store has already been launched in Mumbai. With nearly 60 outlets planned across the country, Goldiam International will also be helping Pantaloon through co-branding initiatives to vend the retailing chains apparel brands at its own stores.
Exploring the synergies in the businesses, Goldiam International will also be tapping into the expertise of Pantaloon as a retailing company while designing its own stores and counters. For instance, Pantaloon owned company - Idiom, is already helping in designing logos and creating delivery formats for the Ola brand belonging to Goldiam International. Besides, Pantaloon would help the Ola brand gain added visibility by displaying it in its campaigns featuring Ms Indias apart from striking combined media buying deals.