NEW DELHI, Dec. 6. THE Crystal Components Division of Swarovski is looking at changing its focus from the rich and famous to the mid-segment consumers. Speaking to Business Line, Mr Sanjay Sharma, Country Manager, Crystal Components Division, Swarovski Components, said that the company was aggressively trying to educate the masses by telling them that crystal embellishments are good value for money.
"We are following a push-market strategy, wherein our distributors are approaching boutique owners and other potential customers to convince them that crystals are affordable," remarked Mr Sharma. "A crystal button for instance, costs as little as Rs 10, while a Swarovski-embellished outfit is available at Rs 2,000 upwards, which is again quite affordable," he added.
In an effort to reach the masses, the company has also tied up with Lakme Lever to launch crystal tattoos next week. These tattoos would be priced from Rs 100 onwards. "We are also in the process of associating ourselves with a prominent Indian shoe company to launch swrarovski crystal embellished shoes," said Mr Sharma. Talking about the fashion market in India, Mr Sharma said that the total market size is around Rs 75,000 crore, out of which the branded players' market is around Rs 5,000 crore and the designer brands' market is around Rs 200 crore. "The designer brands' market is growing by 20 per cent every year, which is our potential segment," he said.
Mr Sharma said that he was expecting an 80 per cent growth in his business by next year. "The duty imposed on crystals is around 60 per cent, despite which crystals can be used as an affordable embellishment." The company recently launched a magazine called Crystal Facets of India to promote garments with crystal beads embellishments internationally.
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