| Su-Raj CEO Jatin Mehta said “Our objective in
picking up a stake in Forever is to tap the high growth domestic market
segment, Forever’s business profile is complimentary to the Su-Raj
diamonds while jewelry from Su-Raj will cater to the large international
B2B clients whereas Forever will tap the domestic B2B market, which
is estimated to be about Rs. 450 billion having an annual growth rate
of about 8 per cent. Forever supplies to such renowned brands like
Tanishq, Alukkas, and all the major stores in South India, many in
the North."
While speaking with indiantelevison.com, Mehta added, “We
are going one step up the ladder in the supply chain. Our core competence
lies in manufacturing, designing, creating a product and merchandising
– not marketing. Marketing to retail– At Forev er, we
already have a customer base and we don’t to trample upon them,
we’d like to work along with them rather than be in competition
with them. We don’t want to build a brand. Let our customers
do that, they’re good at that. We want to focus on delivering
a quality product, getting the best product out of our system. Retail
marketing is a different story. Our customers already are into this.
We have a larger market space to work with through these customers,
rather than work on a small scale or in retail situation. In Su-Raj
we have a policy to deal only on B2B basis and not create a brand
as such, we’d like to remain a B2B company only. Neither Su-Raj
nor Forever are brands as such. We’d rather reach a bigger,
wider market through existing brands and provide VFM (value for
money) to our customer and hence to the consumers than spend money
on brand building."
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