Defining a Business Plan for Luxury Goods and Diamond Jewellery Retailing
The client, one of the market leaders in gold and diamond jewellery business in India needed a professionally drafted business plan for its new startup venture in the retail segment. The company intended to focus on luxury goods and diamond jewellery retailing and required UC to develop an in-depth market assessment and sizing of the same. UC also needed to formulate a roll out plan based on its findings, covering all the financial aspects of the same.
To develop an implementation plan for the client, UC adopted the following approach:
- Conducted extensive primary and secondary research for the market assessment and sizing of luxury goods and diamond jewellery in India, and identification of attractive locations based on consumer behaviour and disposable incomes
- Identified the target segments and determined the consumer profile
- Prescribed location evaluation criteria and a rollout plan for the retail stores
- Formulated a business model including the breakeven and payback period for the venture
- Prepared a concept presentation for partners and investors in the venture.
The client received a detailed business model that included financial forecasts for the venture for seven years, based on the average footfall estimates, conversion rates and average purchase prices etc.