Azva To Enter Non-bridal Jewellery Segment
Jewellery retail chain PC Jeweller said that the Azva jewellery brand, which it acquired from the World Gold Council (WGC) in December 2015, will now operate as an independent entity under its own subsidiary.
Azva was India’s first gold bridal jewellery brand launched by the WGC in 2012. Inspired by the saat pheras or seven vows of Indian marriage rituals, the brand showcased the best of bridal gold jewellery in terms of craftsmanship and manufacturing.
Bringing alive the idea of concept-based gold jewellery, Azva carved a niche in the bridal gold jewellery market in India. Within a short period, with support from manufacturers, retailers and with a dedicated team of highly talented professionals, there were over 130 Azva branded zones in top retail outlets across more than 40 cities in India.
Key members from the initial Azva team have also moved to join the new entity to grow the brand further with an aim to establish new benchmarks for Azva in the luxury jewellery market. Vipin Sharma, chief executive officer, Azva will head the team and work towards expanding the reach of Azva in India with new collections, innovative lounge and zone formats and diverse offerings.
Azva will now operate as a luxury jewellery brand in the market and will give consumers an opulent experience with a focus on its top 12 markets in India. It will also introduce a non-bridal jewellery line and build associations in the luxury jewellery market, while retaining its core proposition and design philosophy of the seven vows.
Sharma said, “Azva is set on a journey towards a longterm business orientation with a motivated team and committed partners. It has a strong market strategy as well as the support of an established industry player like PC Jeweller Limited. Azva will continue to cater to the needs and aspirations of the modern Indian consumer with its unique proposition. We have great ambitions and aspirations for this brand and are looking forward to taking it to greater successes in times to come.”
Commenting on this acquisition, Balram Garg, managing director, PC Jeweller, said, “Azva has always received great support from consumers for its exquisite designs and craftsmanship. It will be a great addition to our set of brands and will continue to offer differentiated products in the niche branded gold jewellery segment. We are excited to take this pioneering concept ahead and aid Azva in expanding as a premium wedding jewellery brand.”