Pursuits
Jewelers in India Jump Online for $22 Billion E-Commerce Pie
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In India, where buying gold traditionally means a trip to the trusted family jeweler, a growing e-commerce market forecast at $22 billion in three years is starting to challenge all conventional wisdom.
Gitanjali Gems Ltd., India’s biggest diamond and gold jewelry retailer, expects online sales to account for much as 20 percent of its sales in two to three years from about 1 percent now. The growth potential convinced Ratan Tata, former chairman of the Tata Group, to invest in Bangalore-based online jewelry store BlueStone last year.