Thursday, 16th September 2004 (4573 views)

Normak Fashions, a Hyderabad-based imitation and costume jewellery firm has announced it is planning to enter the real gold jewellery market.

General marketing manager at the company, Matthew Cherian, explained that the key reasoning behind the plans was because of the "high excise duty" on the imitation market and also that imitation jewellery was not as popular.

Mr Cherian told Business Standard: "At present, we are studying the market conditions for our foray into the real gold and silver jewellery market. Branded costume jewellery becomes unattractive to customers if the gap between imitation and real becomes narrow."

When the company does begin offering real gold jewellery designs, items will be made based on customer specifications.

As well as the new gold jewellery venture, the business is also looking into opening new outlets in a host of areas.

 

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