India : Technology to backbone jewelry retailing
October 9, 2006
Fibre2fashion.com, India
A tie-up between Krysaliis, the Indian jewelry and Intelligent Business Systems (IBS), the Artificial Intelligence (AI) software specialist firm is likely to have wide-ranging impact in the jewelry retail trade.
With custom designed AI software from IBS, Krysaliis would know exactly which designs and lines of jewelry to stock in each of its stores, tailoring this inventory to prevailing fashion trends and the demographics of the area, thus matching supply perfectly with demand.
IBS will be providing Krysaliis with the capability of changing jewelry lines and styles every six to nine months-a turnaround time.
The gems and jewelry market is a key emerging area in India and has significant potential.
While Indians continue to shop with unbranded jewelry stores, the organized sector is offering branded solutions to meet the demand for quality and value.
Krysaliis has plans to expand into branded jewelry retail, setting up one hundred exclusive branded jewelry stores across India through the franchisee model.
IBS will be providing Krysaliis with the capability of changing jewelry lines and styles every six to nine months-a turnaround time.
Krysaliis will be the first jewelry chain in India with a virtual presence on the Internet completely integrated with a physical presence through the jewelry store chain.
Subsequently, Krysaliis plans to expand its chain to Dubai and a few select countries in Europe.
