Reliance Jewels Adopts New Brand Strategy For Expansion

India's fine jewellery brand Reliance Jewels has completed its decade long run this year. With a Legacy of Crafting Excellence, since its inception the brand has focused on fine craftsmanship producing a Plethora of unique designs in fine jewellery right from traditional and regal creations to individualistic, sharp and contemporary light Jewellery. It has always been sensitive to the changing trends and tastes of its customers, giving a chance to choose exquisite designs for any personality, age, style or occasion. Sunil Nayak, CEO, Reliance Jewels, in an exclusive interview given to AOJ's Bina Thakur, opens up about company's expansion plan, its 'Blue Ocean Strategy' innovative products and policies.

Q Tell us about your journey in Reliance Jewels?

A I returned to India and began my journey with Reliance Retail Ltd as CEO – Reliance Jewels, In December 2012. The journey so far has been nothing short of an upward learning curve. We at Reliance Jewels have been one of the brands that has kept pace with the ever evolving consumer needs and as a result of which we have continued to grow exponentially.

Q What is your expansion plan? In a decade of time could you make pace with the market growth? What would be your revival strategy?

A Reliance Jewels has adopted a 'city bombing' route for expansion in which we populate specific cities / towns so as to fructify our vision of becoming "neighborhood jeweller" for an increasing number of citizens. Through this we also aim to reduce the physical distance between our increasing customer base. We have also synergized our expansion with the life style formats of Reliance Retail.

We, at Reliance Jewels, have adopted the 'Blue Ocean Strategy' whereby we have created newer products and experiences to cater to the demand not met by the traditional players. We have launched a string of innovative products in the light weight segment which will appeal to the young and ambitious women who aspires a modern lifestyle. Our interaction with the customers is not just limited to a sales transaction, but we go on to build relationships with our customers, become an indelible part of their families and all their happy moments.

Another mantra to our success has been our rigidity in following the policy of complete transparency in everything that we do. Shifting loyalty is not easy but slowly and surely we have been successful in making inroads into the customer base.