In a short span of 14 years, PCJ has grown from one store to 87. A pioneer in designer jewellery crafted for perfection, the brand owes its success to customer-friendly policies, superior quality and affordable collections
Launched with a vision to redefine elegance, PC Jeweller started its journey in 2005 with its first store in Karol Bagh, New Delhi. Today, over a decade later, the iconic brand known for its allure and stylish pieces of jewellery, has expanded its network to 87 stores spread across 69 cities and 19 states. In fact, as a result of its expansive design boutique, affordable prices and quality assurance, PC Jeweller has earned the eminent tag of the fastest growing jewellery retail chain in India.
Speaking about how the company is looking at aggressive expansion plans, especially when the market conditions have been tough, Garg, says, “PC Jeweller is one of the very few brands that stands extremely strong in this tough market condition and it is not only consolidating its position in existing markets but also keen to expand its footprints in new markets.” Garg assures that investment in jewellery is absolutely safe as gold is an international currency and the present market conditions will not have an adverse impact on the investment. “The key USP of PCJ is that the brand has consumer-friendly policies like offering 0% deduction on old gold while purchasing jewellery.
Whereas many players in the market offer differential policies for old jewellery when it comes to exchange and return for in cash.” he says. The company also offers 90% payback on diamond jewellery. Consumers are susceptable while buying diamond jewellery as they are not sure about quality and relevant price. PCJ assures the quality with certification and 90% buyback assurance.
In addition PCJ offers lifetime free repair and services. Besides selling hallmarked jewellery, all its stores are equipped with Caratmeter to check gold Caratage.
Garg highlights how the brand stands different in its business model which has helped it grow at an impressive scale. “Our business model consists of setting up showrooms as per need of the city – it can be large format or mid-size showroom but that depends on the customer catchment location, city’s market conditions and the spending capacity of the customers in that particular city. Our stores stock a wide range of jewellery across all price points, with an increasing focus on diamond jewellery. The company sells only hallmarked jewellery and certified diamond jewellery,” he highlights.
Besides customerfriendly policies, the brand has many unique measures to stay relevant to the customers. For instance, PC Jeweller maps out customer preference as per its catchment locations and manufactures products to ensure that the customers are spoilt for choices. From sourcing of raw materials to the sale of a finished product, all its processes are integrated and aligned. And throughout this entire process, the brand makes sure stringent quality measures are taken to ensure the purity, value and finish of the product.
HYBRID APPROACH FOR FASTER GROWTH
The brand is looking at faster expansion through franchising. “Franchising is a hybrid model where both franchisor and franchisee add value to the business. Among various benefits, franchise stores help us with enhancing area of operations, client base and footprints in new target markets and increase turnover resulting in expanding topline and bottomline. We have good number of franchise options and are looking forward to double digit growth in the next 12 months,” Garg says.
PC Jeweller’s robust business model, media and marketing support, attractive returns on investment, brand reputation and guidance at every in the process make investment in PCJ unique, differentiating the brand from its competitors. “With contemporary and classic designs aimed for longevity, we are committed to providing our customers the best buying experience using a collaborative approach across both online platform and company-owned or franchise showrooms,” Garg concludes.