Major Indian jewellery brands continue their expansion in the US despite challenging economic and geopolitical situations. Brands focusing on luxury and premium segments are betting on the rapidly growing market and big-ticket purchases by the wealthy Indian diaspora. Indian companies have moved up the value chain with selling premium products under their own brand.
Tata Group's Tanishq opened three stores in the US - in Houston, Frisco, New Jersey - last year and one in Chicago in March 2024.
It plans aggressive expansions in the US citing demand 'despite the operational complexities of opening stores in unfamiliar territories'. Kalyan Jewellers hopes to open two stores in the current fiscal in New Jersey and Chicago.Chennai-based Vummidi Bangaru Jewellers plans to open three more outlets in the US apart from its operational store in Frisco, near Dallas (Texas).
VBJ has introduced 10 new collections, some of which are focused on international markets. Amarendran Vummidi, managing partner of VBJ, said that unlike the domestic market, buyers in the US prefer studded designs suitable for western attires and expect the jewels to follow a story or theme.
Malabar Gold and Diamonds has over 120 showrooms globally, predominantly in the Middle East, just like many others. Last year, it opened stores in Chicago, New Jersey, Dallas, and Naperville (Illinois) and hopes to open another six outlets in the US.
Source: timesofindia.indiatimes.com
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