NEW DELHI: Melorra, a direct-to-customer jewellery brand, has unveiled its latest festive campaign on digital and television platforms highlighting its commitment to sell BIS (Bureau of Indian Standards) hallmarked jewellery.
The company said it has created the ad to increase consumer awareness on BIS hallmarked gold jewellery. The film is airing on digital platforms such as Hotstar during the Indian Premier League cricket matches as well as on TV channels.
Hallmarking is the accurate determination and official recording of the proportionate content of precious metal in precious metal articles. Hallmarks are official marks used in many countries as a guarantee of purity or fineness of precious metal articles.
The main objectives of the gold and silver hallmarking are to protect the public against adulteration and to obligate manufacturers to maintain legal standards of purity.
Hallmarking, the company said, assures customers of the genuineness and authenticity of the gold purchased. In the absence of this certification, customers are at risk of purchasing spurious gold or receiving lower carat value. "The government has now mandated hallmarking for 256 districts and we are selling hallmarked jewellery in all 718 districts of India," said Saroja Yeramilli, founder, Melorra.
The five-year-old company focuses on lightweight precious jewellery and its founder said the company has witnessed accelerated growth over the past year since the covid-19 pandemic hit. Melorra had a revenue of ₹100 crore in FY 2019-20. The Bengaluru-based startup had raised $12.50 million in funding from Symphony Asia, Lightbox Ventures, Alteria Capital and others.
Retail jewellery in the country is a very large business. There are several small and large scale companies including Titan, PC Jeweller and Joyalukkas, among others. But a large part of the jewellery business in India still remains unorganised. Organised players, according to the analysis website Statista, have grown from about 5% in 2005 to an estimated 32% in 2020 within the jewellery market in the country.
