Katrina Kaif danced to A R Rahman’s tune at the closing ceremony of the Indian Premier League II in South Africa the centre of attraction was her glittering earrings. Katrina kaif sported Nakshatra - the diamond jewellery brand she endorses for the Rs 3,500 crore Gitanjali Gems.

Katrina was present on the occasion as the brand ambassador for the Bangalore cricket team admits Chairman Mehul Choksi at the same time says that her presence in South Africa proved “lucky” for Gitanjali. Amrish Masalia, COO, Nakshatra, Gitanjali’s second largest jewellery brand after Gili adds, “We bagged a couple of deals from retailers in South Africa who will now stock Nakshatra”.

Katrina is living up to her’s new tagline – “Goddess of Luck” – for the Rs 250 crore brand, claims top executive, Gitanjali group. Nakshatra alarmed with a 60 per cent growth rate after her appointment as the brand ambassador in August 2008. “However, between April 2008 and April 2009, the brand has actually grown almost 100 per cent.” Before Katrina, Aishwarya Rai endorsed the brand for seven years. 

According to marketing experts, Katrina offers a perfect fit to the brand. Jagdeep Kapoor, promoter of Samsika Marketing and former consultant to Nakshatra explains: “Nakshatra is an aspirational brand. So is Katrina. Both the ambassador and the brand have evolved,” said Choksi.

Undoubtedly, Nakshatra brands new ambassador and revised positioning are paying good dividends. But as per Masalia, part of the new-found growth at Nakshatra can be attributed to the company’s efforts at expanding its distribution to include more points of presence.

The number of outlets that retail went up from 350 to 700 between 2008 and 2009. In metros seven stand-alone stores are also set. Nakshatra has also expanded its international operations during this period. Currently the brand is available in 20 cities internationally including London, Singapore and Kathmandu. Masalia says, “Katrina is very well known internationally. We feel our acceptance in London has also increased because of her”.

Choksi said, “The ad spends have been going up by about 20 per cent every year”. Nakshatra also focused on television campaign, print ads, bill boards and spots on FM radio stations. Nakshatra’s advertising budget was close to Rs 20 crore before couple of years. 

Gitanjali has not left any corner for an effort behind Nakshatra after it bought the brand from Diamond Trading Company (DTC). Nakshatra was created in 2000 by DTC, the marketing arm of DeBeers and than gave it to a consortium of site-holders under Brightest Circle Jewellery Private Ltd to manufacture and retail it in India. 100 per cent stake was bought by Gitanjali.

Nakshatra is totally owned by Gitanjali today. During the acquiring process of the brand last year Choksi had promised promised line extensions of Nakshatra into other lifestyle products such as bags, watches and scarves.
Choksi said, "You can certainly watch out for them this year".

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Posted by Amrith K.A on 9 June, 2009 11:45:27 AM IST #