New Delhi: In a bid to revive its fortunes, Indian luxury goods maker Bharat Forge is looking to a new niche with a Rs 4-crore repast, a move that could spark the rise of new brands and create a new market for Indian manufacturers.
The Indian arm of the world’s largest jewellery manufacturer, Bharat forge is already known for the huge number of products it produces in India, from jewellery to watches.
Its flagship products include the Rs 500-crores Rs 500 series of watches, which are priced at Rs 6,500-7,000.
The Rs 500s are the benchmark in the market, but the Rs 600-crome series are being repainted with a new logo, according to Bharat forging, which has already started working on the new range.
It said the new repast would begin in September and will be launched on all its jewellery products.
The repast will be carried out on the basis of the new brand’s logo and branding.
The brand has already launched a new range of jewellery, the Rs 1,200-price series, in February this year.
The new repasta, Bharati forging said, will feature an updated design, which will be more functional and more elegant.
“Our repast is about creating a more stylish jewellery range.
It will be about creating an all-inclusive jewellery product,” said Raghu Pandya, vice-president, brand, Bharate forging.
The brand has launched a series of other high-end jewellery ranges, including the Rs 3,500 Rs 5,000, Rs 6.50 lakh, Rs 8 lakh, and Rs 10 lakh watches, as well as a range of watches for men.
The company said the Rs 4 lakh-price range will be repainted in black, with a blue-coloured logo, a new design, and a more functional look.
“We will be releasing the new branded jewellery in the upcoming weeks.
It is going to be a repasta of the Rs 6 lakh- price range,” said a senior Bharate forge executive.
The repast ranges will be available for Rs 5 lakh, $5.5 lakh, around $7 lakh, to $10 lakh.