PNB fraud talks are everywhere, everyone is giving their opinions. The reason why this fraud is a very negative news is not only because of the size of scam(Rs 11,000 crore), but the alleged names involved are also a big matter of concern. This incident will not only effect PNB bank but Gitanjali Gems and the brand Nirav Modi will also face issues. With this article, we are trying to put some light on what impact will this have on the brands Nirav Modi and Gitanjali Gems.
Nirav Modi got involved in controversies after the brand ambassador Priyanka Chopra complained about the dues for an ad campaign in January last year. Also, Sidharth Malhotra had a similar issue with the company.
While Nirav is out of the country, the government is continuing its raids on the properties owned by him. So how will all this affect the brands? Experts are saying that media will play an important role in the whole scenario. Consumers get the information from the media houses and if they don’t showcase negatives about the brands then people will forget everything in some days and sales will be back on track. A similar thing happened when Vijay Mallya was involved in a case, the brand value of Kingfisher and United Breweries is still same.
Customers just need quality jewellery and if they get it from the brand Nirav Modi and Gitanjali, there isn’t a big problem. Yes, the price stocks of Gitanjali have decreased close to 20 percent but if the consumers don’t have a problem it will be a short-term thing only.
The brand value of both companies will not change much if the legal issues can be solved soon. Well, this is only our opinion and we would like to know what you think about this. So, please share your thoughts in the comment section.
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