Cases

Defining a Growth Strategy for a Leading Jewellery Company

Background and Challenge

The client, an old jewelry company, has a chain of retail stores in Mumbai. The client had recently launched an in-house diamond brand. However, the top management was faced with certain strategic questions with respect to its expansion plans. Thus the client turned to UC to assist in the following areas:

  • Evaluate customer segment expansion
  • Evaluate geographical expansion
  • Evaluate expansion to modern retail formats
  • Evaluate separation of diamond brand from the mother brand
  • Align organisation structure to support growth plans

Approach and Recommendations

To define the growth strategy for the client, UC adopted the following approach:

  • Conducted primary research in four locations and held discussions with 240 respondents across different communities
  • Met 60 competitors to understand the initiatives undertaken for growth
  • Identified customer segments to be targeted in the future after studying their preferences and purchase patterns of different communities
  • Evaluated locations and areas for geographical expansion based on competitive intensity, presence of customer segments, spending power etc.
  • Suggested changes in organisation structure to support growth initiatives
  • Defined strategy framework across various parameters – financials, internal processes, customers, learning and growth
  • Suggested specific initiatives for alignment of internal processes to support growth
  • Initiated pre-purchase, purchase and post-purchase initiatives
  • Conducted management information systems and business performance measures

Results

The client received a detailed implementation plan to change its organisation in terms of processes, operations, technology and structure.