Kirthilals, the latest entrant into the Hyderabad
jewellery market is the Oyzterbay. Unlike Kirthilals,
Oyzterbay gold jewellery collection is targeted for youth
and low-end customers.
Explaining the rationale to target the youth segment Mr.
Vasant Nangia, Chief Executive Officer, Oyzterbay
said, "Almost a fourth of Indian youth segment, estimated
at over 200 million, comprises females in the age group
of 15-24. Most of them are living in urban areas with
monthly household income of over Rs. 3000. The retail
market for branded jewellery is currently estimated to
be Rs. 500 crores and growing exponentially. The oyzterbay
brand building strategy, aimed at addressing this relatively
unexploited segment, envisages achieving a paradigm shift
as far as the usage and perception of precious jewellery
today's jewellery market, Indian youth have an option
to wear either traditional jewellery handed down to them
by their parents and grandparents, or resort to wearing
relatively cheap and poorly made fashion and imitation
jewellery. "It is amazing that the extensive choice
that women have with respect to their wardrobe is not
matched by the variety in contemporary wearable jewellery.
There is a latent demand for jewellery, that is modern,
has intrinsic value and is affordably priced to attract
youth," Mr. Nangia added.
Oyzterbay launched a set of over 1000 comtemporary and
classical designs categorized in four ranges- Neptune,
Atlantis, Coral Reef, and Mermaid. The four ranges
have been inspired by colour, nature and the zest for
living. Neptune is a delicately crafted range in 34 Kt
pure gold (99.99%), and uses electroforming to produce
sturdy jewellery with a shelf thickness below 0.2 mm.
Atlantis, made in 22 Kt (91.6%) gold with an array of
contemporary as well as classical designs. The Mermaid
is a range embellished with a variety of natural gemstones.
The fourth collection, Coral Reef, is a range of 18 Kt
gold studded with natural gemstones across palette of
colours and designs.
Johnson Verghese, Vice-president - Operations, Oyzterbay
said, "We have created designs in Gold and Sterling
Silver, both plain and gemset, to cater the youth segment.
We are introducing the widest collection of natural gemstones
in myriad colours and cuts. Almost 80 percent of the product
portfolio comprise Pendants, Ear rings and Finger Rings.
The balance consists of of Bracelets, Neck Wear and
Explaining the pricing strategy Mr. Verghese added,
" Our aim is to carve a niche by positioing gold, sterling
silver and other precious jewellery as fashionable, cool
and yet affordable- a platform to which no player in the
Indain industry can stake claim today. Our pricing strategy
will influence the purchase of jewellery by a customer
base that hitherto considered the use of gold at much
later phase in their lives. With keeping prices low, the
'Costume Junk' trap has been carefully avoided."
signature store located at Paradise carries a composite
youthful imagery. The external display in glass allows
an unfettered view of the entire product range at a glance.
The store showcases products that are a statement of style.
All the Oyzterbay ranges are affordably priced between
Rs. 500 to Rs. 5000 and will be retailed at is exclusive
Address: Oyzterbay, Opp. Paradise Hotel, Sarojini
Devi Road, Secunderabad-500 003. Phone: 781 5079