About the client
Our client is family owned jewellery business with its roots tracing back to the 1800’s. It was founded in 1974. The brand legacy has survived through six generations and continues to do so, and the same can only be attributed to the company’s strong hold of its traditions, customs and values. The company specializes in Jadau jewellery among several other styles in the craft. Our client operates through an e-commerce business model and its target consumer base is the Indian diaspora around the globe. It is not only one of the leading companies in the Indian e-commerce space, but it was also featured in Forbes’ Fastest-Growing Companies.
Issue at hand
Riding high on their success in the Indian online market, our client ambitiously wanted to expand to other markets. Countries in the gulf, especially the UAE, were few of the most obvious options, given the high density of Indian diaspora in these geographical locations.
Solutions
The client then approached Leap for assistance with their expansion plans. The initial objective of the engagement would be to carry out market research and feasibility analysis. The research and analysis showed results stating great promise for the company in the UAE market. The next step would be to frame an expansion strategy. The strategy was carried out in a phased manner. The steps which were carried out were–
- Developing an overall strategy and business plan
- Organizational readiness
- Establishing a Go-To-Market strategy
- Legal readiness
- Finance readiness
- Final budget preparation
- Establish close relationships with other participants in the local market
Outcome
The assignment yielded great results as the company was successfully and smoothly able to establish footing in the Dubai local market, expanding their customer base by a substantial number.
