Economics of Bangle Market
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Case Code: ECON040 Case Length: 08 Pages Period: 2009-2010 Pub Date: 2013 Teaching Note: Available |
Price: Rs.300 Organization : - Industry : Bangles Countries : India Themes: Market Structure, Turnaround Management |
Abstract Case Intro 1 Excerpts
Bangles, an integral part of the traditional wear for women in India, enjoyed high demand, particularly during weddings and other festive seasons. The Old City area of Hyderabad, in the southern state of Andhra Pradesh, housed one of the major markets for bangles in India. Located in the winding streets near the historic Charminar was Laad Bazaar, also known as the "street of bangles". This was where the bangles were manufactured. The street is lined on either side by stores, big and small, that retailed these bangles. Laad Bazaar was especially known for its colorful "lac" bangles, prepared from hard lacquer sealing wax and embedded with beautiful colored stones and sequins.
Over the years, the bangle market in general and Laad Bazaar in particular had undergone a sea change in terms of demand and supply. Predominantly dependent on impoverished skilled artisans who had inherited the skills of bangle making from their ancestors, the market had witnessed surging demand in the years preceding 2009.
Earlier, this business had been dominated by a few artisans and the volume of business carried out was on a micro scale. But by 2009, it had grown into an industry employing over 4000 artisans and providing a livelihood to around 2000 families either directly or indirectly.
The surge in demand also attracted educated youths into the business and they tried through marketing activities to cater to the interest of international markets in bangles. However, as of 2009, the market also faced some tough challenges and there were many potent factors that were putting pressure on margins.
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