News Bureau

May 14, 2016

India’s first online jewellery saving scheme

Jewel Rich Ecommerce Pvt. Ltd. has announced the launch of Jewelrich -Web, India’s first dedicated online monthly jewellery saving scheme aggregator. The new venture will serve as perfect platform for consumers to compare various jewellery saving schemes offered by reputed jewelers, evaluate key benefits, choose the best schemes and easily facilitate transactions online.

Jewelrich-the online player will feature reputed family jewelers and renowned corporate jewelers nationally. Renowned jewellery retail chain Waman Hari Pethe and other leading jewellers have consented to sell their jewellery savings scheme at The schemes from popular jewelers will be initially launched in leading metros across India before penetrating into Tier I, II and III cities in phased way.

Announcing the launch, Tejas Soni, Founder and CEO, Jewelrich says, “We are extremely pleased to unveil Jewelrich, India’s first online monthly jewellery saving scheme aggregator. The new platform is primarily targeted towards working professionals and youthful buyers who seek easy access to various schemes from their favourite jewelers, choose the best scheme and transact in an environment of convenience and trust. Presently customers have to personally visit jewellery stores personally every month that makes the process very tedious.”

“The aggregator offers user friendly experience, easy payment options, adequate security systems and payment alerts. Jewelrich will offer schemes from over 500 leading jewelers across India for consumers to choose from.  We are buoyant on consumer preferences and expect to clock 1, 00,000 registrants in the next two years” He added.

 “The estimated market size for jewellery saving schemes in India is around 20,000 crores, growing at 15 % annually. With rising prices of the yellow metal and constant fluctuations in gold rates, jewellery saving schemes has become even more attractive particularly among middle class customers. Jewellery has always been there on the wish list of a woman’s favorite indulgence” says Ashok Minawala, Ex Chairman of All India Gems and Jewellery Trade Federation.

“Whether it is wedding in the family, gifting for close ones or purchase for self, jewellery saving schemes have been easy way to save for your precious purchase. Lately we have seen the e-commerce sector grow rapidly and the digital wave outperform traditional retail as gen next buyers make most of their purchase online. The concept will be win-win scenario both jewelers and jewellery aspirants” Ashok Minawala adds.

While customers can benefit with wider insights on jewellery savings, easy access to various schemes and plethora of choices, jewelers can enhance their business prospects. will offer host of benefits in jewellery schemes from leading jewelers nationally starting from monthly saving of Rs. 3,000 onwards for time frame of 12 months. 

The service will also be available in mobile apps so that visitors can easily access schemes using their mobile phones. Customers can select their favorite jeweler, plan systematic purchase on jewellery savings and make monthly payment online via ECS/ Auto Debit and net banking or online money transfer. As a service provider offers complete spectrum of services like reminders/ confirmation receipt for the payment by email and sms alerts.


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