The size of the business is estimated to be around Rs 8 crore
Carat Media, Mumbai, has bagged the media duties of Laxmi Dia Jewel’s Cygnus diamond jewellery. The size of the business is pegged at Rs 8 crore.
The incumbent media agency was Anims, which handled the print advertising for Cygnus predominantly.
The media pitch – held in August – had three agencies in the fray. Confirming this development to agencyfaqs!, Shekhar Wedke, CEO, Laxmi Dia Jewel, says, “Carat Media had done its homework on the diamond industry. We particularly liked the tools they offered for measuring advertising effectiveness, and they even presented several strategies for identifying the right kind of media.”
Charles Jenarius, group CEO, Carat Media, remarks, “There is a lot of competition today in the branded diamond jewellery market. What we offered to the client was a different approach towards media planning.”
The communication mix for Cygnus will predominantly include television and other electronic media, print, outdoor and, possibly, radio.
For the record, Laxmi Dia Jewel is a sister concern of the Laxmi Diamond Group, an export giant, which was formed in 1972 and is headquartered in Mumbai. The group is a DTC (Diamond Trading Corporation) sight holder since 1995. The company is also in the process of obtaining ISO 9001-2000 certification.
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