Prime Highlights :
- Divine Solitaires and Ranka Jewellers are targeting over 30 percent market share in Pune’s solitaire jewellery segment.
- The companies plan to expand customer reach and strengthen leadership in the natural diamond solitaire category.
Key Facts :
- Ranka Jewellers operates around 15 stores across Pune’s premium jewellery market.
- Pune’s natural diamond jewellery market is estimated at nearly Rs 2,500 crore.
Background :
Divine Solitaires and Ranka Jewellers plan to expand their presence in Pune’s solitaire diamond jewellery market. The companies aim to increase customer acquisition, expand the solitaire jewellery category and build stronger market leadership in the city over the next few years.
The expansion strategy was discussed during a recent meeting between senior representatives of both companies in Pune. Leadership teams reviewed plans focused on long-term business growth, category development and deeper market penetration in the natural diamond solitaire segment.
As part of the roadmap, the companies are targeting more than 30 percent market share in Pune’s solitaire diamond jewellery market within the next two to three years. The move will be supported by their combined retail network, customer reach and brand positioning in the premium jewellery segment.
The companies said Pune’s natural diamond jewellery market is estimated at nearly Rs 2,500 crore. Solitaire jewellery has emerged as one of the fastest-growing categories in the city, driven by rising demand for transparent pricing, certified quality and exclusive designs.
Divine Solitaires said its business strategy focuses on product differentiation through 123 quality parameters, Hearts & Arrows precision standards, transparent pricing and customer-focused buyback and upgrade policies.
Ranka Jewellers currently operates around 15 stores across Pune and has built a strong presence in the city’s premium jewellery market over several years. Company executives said the partnership has completed 20 years and continues to deliver healthy business growth, strong inventory movement and repeat customer demand.
Industry observers believe the expansion reflects rising consumer interest in natural diamond solitaire jewellery and growing competition in the organised jewellery retail market.
