Fashion is not a women centric word. Thanks to the metrosexual trend and mythological styles, jewelleries and accessories are pretty much into the men’s wardrobe. Johareez is one startup that has vowed to take up men’s fashion and accessories more seriously. Let’s explore Johareez.com in this month’s startup story.
Johareez – the terms descends from Joharee that implies jewellers in Hindi and Urdu. The startup Johareez.com is a one stop online shopping destination for jewellery & fashion accessory lovers. Founded by Gajendra Kumar Gupta, Johareez is aimed as the jewellers and fashion marketplace, where they offer online shoppers the opportunity to purchase Precious and Fashion Jewellery products they wish to add to their fashion wardrobe.
How Johareez Works
Johareez is consistently partnering with mass merchandisers, fashion brands, jewellery merchants who are wanting to sell & promote their jewellery & fashion lifestyle products via Johareez.com’s online marketplace.
Jewellery offers are available both the Fixed Price selling format & are listed to be won through real time Live Auctions environment. Johareez.com has over 25000+ jewellery products listed on site which are available for shoppers to purchase with One Day Delivery option while using convenient payment options such as Cash on Delivery (COD). Shipping is FREE across PAN India, and International Shipping options are also widely available for shoppers to place their orders.
THE “FASHION” MARKET
Indian imitation jewellery market has witnessed tremendous growth in the past several years. Fashion jewellery has been prevalent, especially amongst the college going teenagers. Since the prices are cheap, they can get a wide variety and also keep up with the changing fashion. The fashion jewellery market is rapidly growing in quantum, patronized mainly by the youngsters. This young generation of women consumers tend to buy pendant & earring sets, bridal rings, jhumki earrings, brooches and have also expressed immense interest in purchasing precious jewellery products featuring silver with genuine gemstones.
Adding to all the excitement, currently men too have indulged in shopping for jewellery than ever before. They are adorning themselves with masculine designs including but not limited to fancy bracelets, studs, rings, cufflinks, and chains which is showcased on johoreez.com.
Johareez.com is very proud to have connected with Prashantt Guptha, an upcoming Bollywood actor who originally hails from our very Jaipur. Having him on board is a feeling of pride and a full ‘exhibit’ion of our loyalty to our very native. He is known for his dramatic roles in lssaq, Identity Card and 6-5=2, to name a few.
exhibit: There was a time when jewellery and accessories were feminine terms. Things have now turned more towards men’s popularity. What’s the estimated market in India today?
Gajendra: The men’s jewellery market is a small sector as compared to women’s bridal or fashion- jewellery segment, but over the course of time this market is slowly gaining momentum as more and more men are showing interest in accessorizing them with jewellery. The credits are to be given to the jewellery designers who have redesigned and reinvented the significance of jewellery as a fashionable commodity for men. More and more men, especially in the metro cities are buying and wearing jewellery as daily accessories. Given the young demographic which is shopping far later looks online and increasing choice online – we estimate that Fashion category will see 400% growth in the next 3 years and rival, electronics and mobile category in GMV.
exhibit: In a country like India, where people check and crosscheck several times before buying precious metals, do you think a profitable idea?
Gajendra: Absolutely! Currently, the online jewellery segment is in nascent stage, however it is poised to register fast growth with increasing number of online buyers in India. According to ETRetail, online sale of costume jewellery is set to take off, to grow to Rs. 4,200 crore with in a year. The market size for costume jewellery is currently pegged of Rs. 8,000 crore, of which online contributes nearly Rs. 180 crore. India has surpassed the United States to become the third-largest men’s luxury jewellery market in the world this year, according to business research. IAMAI study reported that jewellery had attracted more clicks than any other categories in the past few months, implying growing consumer interest. The fashion jewellery segment is set to grow quickly in the tier-2 ond 3 cities where accessibility has been a constraint. Fashion category has grown four fold since last year. We are completely stoked about expanding more and more products onsite and will continue building our business model in this key product area.
exhibit: How did the idea of Johareez hit you?
Gajendra: Having been raised in a family which started their own business roots in the Gems & Jewellery trade and have been in this business for over 40 years, gave me the inspiration of taking our family business forward by venturing into the online space with jewellery as key product category. India is a huge market opportunity and it simply mode good business sense to create an online marketplace model of our business catering specifically to the jewellery segment, comprising both fashion and precious jewellery products. The term ‘Joharee’ implies the ‘jeweller’ in India, and thus, we conceived our site domain to be Johareez.com, with the tag line ‘India’s Online Jewellers & fashion lifestyle marketplace’.
exhibit: How is Johareez different from its contemporaries?
Gajendra: Johareez.com is a one stop online shopping destination for jewellery & fashion accessory lovers where we offer our customers the opportunity to purchase almost every kind of fashion jewellery & lifestyle product they wish to add to their fashion wardrobe. We are the only jewellery specific product category online player, which currently offers over 25,000+ product listings onsite in both the Fixed Price selling format & we are the only marketplace offering product listings to be won through real time Live Auctions environment as well, with products starting at Re. 1, with no reserve. This gives exciting opportunities for our shoppers to actually bid on jewellery they wish to win and add to their fashion wardrobes. Secondly, right pricing is key! Jewellery price range available on Johareez is between Rs. 99 to Rs. 50,000+, so we are catering to practically every consumer segment PAN India.
exhibit: Tell us about the celebrity quotient attach with Johareez.
Gajendra: The celebrity’s likability quotient is high with Johareez. We are extremely proud to have attached a rising Bollywood actor, Prashantt Guptha, with us who has endorsed his very own line of men’s jewellery connecting to his creative and aesthetic side. Choosing Prashantt to endorse our brand has much to do with his rising popularity in Rajasthan, as he is a native of this state. His line of tungsten rings, stainless steel jewellery, along with men’s precious silver diamond rings have been very popular sellers on Johareez.com. Fad for fashion jewellery which is generally motivated from bollywood and daily soap operas will add more demand in coming years.
exhibit: Any unique piece of accessory you would suggest us (men) to buy from Johareez?
Gajendra: Given the popular demand we’ve had with the diverse range of men’s jewellery and accessories we’ve added onsite, we encourage men to go for the unique line of tungsten, silver diamond rings collection along with sterling silver adjustable thread bands currently available onsite. We at Johareez continue to work with our partner sellers in bringing onboard light weight gold jewellery which is also preferred by men along with neck chains, bracelets, and rugged cuffs as seen in stores which are uniquely styled.