?India is a vital market for DTC?
Cherie Tandon Saldanah, MD for the Indian arm, speaks to Radhika Pancholi about DTC's future plans.india Updated: May 05, 2006 14:11 IST
The Diamond Trading Company (DTC) is the sales and marketing arm of The De Beers Group and is the world’s largest supplier of rough diamonds. With activities in sorting and valuing, sales and marketing, the DTC has representative office in UK, South Africa, Namibia, Botswana, Japan, Hong Kong, Italy, Dubai and India. The DTC in India has been promoting actively diamonds and diamond jewellery through its various brands. In 2006, the Indian arm of the company plans to grow its share through targeting a wider audience and more gifting occasions, along with targeting specific segments. Cherie Tandon Saldanah, managing director for the Indian arm of DTC, speaks to Radhika Pancholi on the company’s plans for India and the global arena.
India is the third largest market for diamonds, preceded by Japan and USA. What is the differentiating factor between the Indian buyer and the American one?
The biggest differentiator between the American buyer and the Indian buyer is that the latter still looks for investments while buying diamonds whereas the American buyer wants diamonds as a style and fashion statement. Design wise too, Americans look for simpler designs with large stones, whereas Indian consumers prefer to show off their diamonds.
After Nakshatra, Diamond Vivah Jewellery, Sangini and Arisia, do we see one more new brand launched in India this year? Who would be your target audience?
Nakshatra, Diamond Vivah Jewellery, Sangini and Arisia are all brands that have been specifically made for the Indian mar ket, keeping the Indian consumer’s tastes in mind. Having said that, we do plan to target specific segments this year. Love is a platform that we are taking up for a theme this year. There’s no brand in diamonds that’s actively targeting the youth yet and though these are early times, we would like to do something youth-centric too. For now though, we’re concentrating on adults, typically parents whose children are of marriageable age and young professionals. India accounts for 50 per cent of the world’s rough and cut diamonds.
How is DTC in India associated with the trade. What part of DTC’s exports come from India?
Yes, India does play an important role in the DTC world. We have 37 sight holders here that make cut and polished diamonds for DTC. The diamond business enjoys 11 per cent of the total jewellery market in India and we have seen a year-on-year growth of 19 per cent, which we plan to sustain even this year. As far as exports by DTC India are concerned they would grow by around a per cent this year.
Any events planned for this year?
The launch of the Forevermark will be the most fascinating event this year. DTC will engrave a special number on the table of the diamond, which will be unique to the diamond and the consumer is assured of its authenticity, thereby instilling trust and confidence.