Indian Jeweller (IJ) Magazine August -September 2019
Volume 10 | Issue 1 August September 2019
Volume 10 | Issue 1
August September 2019
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Editor’s note<br />
All thAt<br />
GlittErs<br />
With gold prices touching unprecedented highs,<br />
all hopes of a successful festive season seemed<br />
bleak. However, the overwhelming response<br />
from the I<strong>IJ</strong>S show has rekindled the hopes of above<br />
average festive season sales.<br />
Enticing a consumer to purchase jewellery is no easy<br />
task. Not only do you require exceptional craftsmanship,<br />
innovative designs and superlative marketing techniques,<br />
factors like location of store, origin of gemstones and<br />
diamonds play a key role in the success of a retail venture.<br />
This issue’s cover story focuses on the importance of<br />
selecting the right location for your retail store and<br />
various factors that jewellers consider before zeroing in on<br />
a particular location.<br />
The jewellery industry has placed trust at the centre of<br />
their business model, but how transparent are jewellers<br />
when it comes to revealing the source and origin of<br />
gemstones and diamonds? <strong>Jeweller</strong>s from across the<br />
country weigh in. Experts like Ahmmed MP and Gunjan<br />
Suri give valuable insights on the gold import duty hike<br />
and importance of landscaping while designing jewellery<br />
pieces respectively.<br />
The issue also covers the most glamorous jewels from<br />
Couture India Show and a comprehensive report on the<br />
recently concluded I<strong>IJ</strong>S show along with 10 habits of<br />
highly successful people.<br />
editor<br />
Alok Kala<br />
necklace courtesy: Graff<br />
34 | august-september <strong>2019</strong> | INDIAN JEWELLER
CHANGE IS GOOD<br />
The Face oF The indian jewellery indusTry<br />
Vol.10 Issue 1<br />
<strong>August</strong>-september <strong>2019</strong><br />
The importance<br />
of location<br />
The Where<br />
& Why of<br />
LocaTIon<br />
Editor and Publisher: Alok Kala<br />
Associate Publisher: Arpit Kala<br />
Senior Editor: Vijetha Rangabashyam<br />
Business & Marketing: Gunjan Jain<br />
Features Writer : Sanjana Parikh<br />
Graphic Designer: Dhananjay Kokate<br />
Columnists: Gunjan Suri<br />
Aftab Bandukwala<br />
Subscription:<br />
India:<br />
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Administrative Office:<br />
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Jaipur, 302004 Rajasthan India<br />
Ph: +91 141 2614398, 2610906<br />
Email: info@indianjeweller.in<br />
jaipur@indianjeweller.in<br />
Website: www.indianjeweller.in<br />
Communication and Editorial Office:<br />
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E-mail : mumbai@indianjeweller.in<br />
<strong>Indian</strong> <strong>Jeweller</strong>, a bi-monthly magazine is<br />
printed and published by Alok Kala, Proprietor,<br />
Gem & <strong>Jeweller</strong>y Information Centre, Journal<br />
House, A-95, Janta Colony, Jaipur-302004,<br />
Printed at Payorite Print Media Pvt. Ltd.,<br />
Jaipur-302006.<br />
Published from Gem & <strong>Jeweller</strong>y Information<br />
Centre, Journal House, A-95, Janta Colony,<br />
Jaipur-302004.<br />
Editor - Alok Kala<br />
Registered with the Registrar of Newspapers<br />
for India under No. RAJENG/2010/50179.<br />
© All rights reserved. No part of this publication may be<br />
reproduced, stored or transmitted in any form without<br />
prior consent.<br />
The Big Story<br />
100<br />
62<br />
98<br />
The Where & Why of Location<br />
The way people are shopping is definitely changing. Though<br />
the omnichannel model facilitates a stronger brand presence<br />
resulting in more conversions, the sheer convenience<br />
and inventory that e-commerce gives its shoppers has<br />
changed the retail landscape over the years. And let’s face<br />
it, the economy may be down but commercial real estate<br />
is booming. Buying and renting commercial spaces is an<br />
expensive proposition and being judicial and understanding<br />
the whats, whys and wherefores before choosing a store<br />
location or thinking of opening that second store is more<br />
imperative now than before.<br />
Designscape<br />
Queen of the ‘Kaleeras’<br />
Giving an extraordinary twist to ordinary objects, Mrinalini<br />
Chandra lets her imagination run loose with whimsical, one<br />
of a kind creations<br />
Store Insider<br />
Sleek & Modern<br />
Mumbai’s newest jewellery brand gives diamond jewellery a<br />
modern look with its contemporary and chic designs.
IN FOCUS<br />
Chuffed about Cuffs!<br />
66<br />
An edgy, bold and sparkling cuff is all your wrist<br />
need to grab eyeballs at your latest night out.<br />
Hula Hoop<br />
68<br />
This all time favorite ear accessory get a modern<br />
twist with creative danglers or studded motifs<br />
Flower of the Gods<br />
70<br />
The purity and elegance of a lotus is embedded<br />
within pure gold to make it a divine creation.<br />
Confluence of Colours<br />
72<br />
Seven stones and seven colours make for the<br />
perfect rainbow hued creation that is a prized<br />
possession in every woman’s jewellery box.<br />
Bold & the Beautiful<br />
74<br />
Kiara Advani’s spunky personality shines through<br />
her quirky and unique jewellery pieces that she<br />
dons at a promotional event or a casual night out.<br />
Special Feature<br />
The Importance of Educating the Customer<br />
A value more precious than any piece of jewellery, trust is the<br />
driving force of the jewellery industry. Exactly how enlightened and<br />
educated is the consumer when it comes to source and origin of<br />
diamonds and gemstones?<br />
Your Guidebook to Success<br />
86<br />
Successful people are not just born, they are built over a period of<br />
time. What habits do successful individuals cultivate in order to<br />
achieve their goals? We take a look at 10 such habits.<br />
94<br />
For news,<br />
trends, market<br />
updates and<br />
more log into<br />
www.indianjeweller.in<br />
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The Face oF The indian jewellery indusTry<br />
I<strong>IJ</strong>S<br />
SPECIAL<br />
I<strong>IJ</strong>S<br />
SPECIAL
Policy & Market UPdate<br />
Gold prices reach<br />
rs 40,000 per 10 gram<br />
Amid global growth concerns and<br />
heightened trade tensions, gold<br />
price crosses the Rs 40,000 mark<br />
before Diwali. Typically, the demand for<br />
gold reflects the expectations about the<br />
future.The prices of the precious metal tend<br />
to rise amid uncertain economic situations<br />
or political upheaval.<br />
Currently, the October contract of gold<br />
was priced at Rs 37,995 per 10 gram on<br />
the Multi-Commodity Exchange (MCX).<br />
“Demand for the precious metal may<br />
slow down slightly owing to some easing<br />
in trade tension between U.S. and China,<br />
but overall the trend is negative,” said Anuj<br />
Gupta of Angel Brooking.<br />
Gupta explained that the gold prices<br />
were surging primarily owing to the decline<br />
in global growth rate. Experts globally are<br />
also suggesting investments in gold and<br />
other precious metals amid these uncertain<br />
times as an insurance against economic<br />
uncertainty. “We now recommend all<br />
investors have a full allocation to precious<br />
metal investments in their portfolio. We<br />
believe the bear market in gold has run its<br />
course and a new bull market has begun,”<br />
said a Gohring and Rozencwajg report.<br />
Lower interest rate by central banks and<br />
the ongoing trade dispute between the two<br />
biggest economies, the US and China, were<br />
supporting the gain in gold prices. Besides,<br />
latest worry came over the recession<br />
warning via bond market. The inversion<br />
in the US bond yield hit levels last seen<br />
in 2007, just ahead of the global financial<br />
crises. This came even as the US decided to<br />
defer the rise in trade tariffs it announced<br />
earlier as major export market showed<br />
renewed signs of weakness. <br />
<strong>Indian</strong> gem and jewellery exports<br />
touch $2.2 billion in July<br />
Data released by India’s Gem &<br />
<strong>Jeweller</strong>y Export Promotion<br />
Council (GJEPC) show that<br />
overall exports from the gem and<br />
jewellery industry dropped around 10<br />
per cent year-on-year in July <strong>2019</strong>,<br />
reaching $2.22 billion.<br />
Exports of cut and polished<br />
diamond exports fell 18.29% year-onyear<br />
to total $1.5 billion during the month, while gold jewellery (plain<br />
and studded) exports were down 5.78% to total $963 million in July.<br />
Rough imports during the month fell 34.24% to $1.1 billion. Imports of<br />
cut and polished diamonds declined 14.42% to $114.01 million. Exports<br />
of rough diamonds totalled $93.20 million in July <strong>2019</strong>, compared to<br />
$99.97 million in July 2018.<br />
Exports of silver jewellery rose significantly, totaling $85.81 million in<br />
July <strong>2019</strong>, compared to $46.05 million in July 2018. Coloured gemstone<br />
exports fell slightly to $18.14 million, compared to $18.52 million<br />
exported during the same month a year earlier. <br />
US-China trade war could give<br />
impetus to <strong>Indian</strong> jewellery<br />
manufacturing units<br />
Simmering US-China<br />
trade tensions could<br />
nudge many global<br />
jewellery majors to shift their<br />
manufacturing base to India<br />
from China. The relocation of<br />
manufacturing facilities will<br />
give a much-needed boost<br />
to India’s gem and jewellery<br />
exports, which fell about 10<br />
per cent in the three months<br />
to June <strong>2019</strong>. Tighter lending<br />
rules and higher borrowing costs in the nation as the fallout of a $2-billion<br />
bank fraud last year have worsened the operating environment for the<br />
business that contributes 15 per cent of India’s exports.<br />
“Some major global players in gems and jewellery are pausing to rebalance<br />
the business on account of the trade tensions,” Romesh Sobti,<br />
Chief Executive Officer at Mumbai-based IndusInd Bank Ltd., said in an<br />
interview. “The natural shift in the manufacturing business will be to<br />
India from China.”<br />
“Unless there is a favorable tax regime and ease of doing business, it<br />
would be challenging for the industry to move from China to India,” Shah<br />
said. <br />
38 | august-september <strong>2019</strong> | INDIAN JEWELLER
Policy & Market UPdate<br />
commerce Ministry: Gold imports up by 35.5% in april June<br />
The country’s gold imports, which<br />
have a bearing on the current<br />
account deficit (CAD), increased<br />
by 35.5 per cent to USD 11.45 billion<br />
(about Rs 80,000 crore) during April-<br />
June quarter of the current fiscal,<br />
according to commerce ministry data.<br />
Imports of the yellow metal stood<br />
at USD 8.45 billion (about Rs 59,000<br />
crore) in the same period of 2018-19.<br />
Increase in gold imports pushed<br />
the country’s trade deficit marginally<br />
to USD 45.96 billion during April-<br />
June quarter of <strong>2019</strong>-20 as against<br />
USD 44.94 billion in the same quarter<br />
previous fiscal.<br />
Since January this year, gold imports<br />
have recorded a double digit growth,<br />
except in February when it dipped by<br />
about 11 per cent. India is the largest<br />
importer of gold, which mainly caters to<br />
the demand of the jewellery industry.<br />
In volume terms, the country imports<br />
800-900 tonnes of gold annually. <br />
Platinum worth Rs 247<br />
crore was imported<br />
during June-July<br />
A<br />
sudden spurt in the imports of platinum has left the<br />
industry intrigued. In June and July, platinum imports<br />
have gone up by almost four times to Rs 247 crore<br />
compared to Rs 51 crore during the same period last<br />
year—a growth of 384 per cent. In June, the imports went<br />
up 215 per cent and more than 500 per cent in July.<br />
During the past few months, the price of platinum too<br />
had fallen significantly. From a recent high of $912 per<br />
ounce in mid-April<br />
prices had come down<br />
to $786 an ounce in<br />
the end of May. Hence,<br />
the increase in import<br />
volumes will be higher<br />
than in terms of value<br />
growth. The import<br />
of platinum has been<br />
growing only by around<br />
20-30 per cent in the months prior to June, as per the<br />
data from the Gems & <strong>Jeweller</strong>y Export Promotion Council<br />
(GJEPC).<br />
According to Vaishali Banerjee, Managing Director of<br />
Platinum Guild International, India, the domestic platinum<br />
jewellery market has been growing by around 25-30 per<br />
cent year-on-year. PGI has not witnessed any increased<br />
demand in the past two months. Platinum is used largely<br />
for jewellery purposes. It is also used in the automotive<br />
industry and as a catalyst in the manufacturing of glass,<br />
pharmaceutical products and nitric acid.<br />
GSP benefits could help<br />
increase jewellery exports to<br />
US to $3 billion<br />
India’s nodal jewellery trade body has told commerce<br />
minister Piyush Goyal that exports to the U.S. could jump<br />
by $1 billion to almost $3 billion if Washington were to<br />
extend duty benefits to these products under the Generalised<br />
System of Preferences (GSP).<br />
The GSP refers to a trade programme providing benefits<br />
to developing-world exports to the U.S. The Gem & <strong>Jeweller</strong>y<br />
Export Promotion<br />
Council (GJEPC) has<br />
told the minister<br />
that China gained<br />
at the expense of<br />
India with its overall<br />
jewellery exports to<br />
the US increasing<br />
from $2.78 billion<br />
in 2007 to a peak of<br />
$3.66 billion in 2013,<br />
before rationalising<br />
to $3.1 billion in 2018. US imports of <strong>Indian</strong> gold jewellery<br />
articles fell from $2.21 billion in 2006 to $882 million in<br />
2008 after the products ceased to get preferential treatment<br />
under GSP as they crossed the so-called competitive need<br />
limitation, which imposes import ceilings on products and<br />
countries that might otherwise not be “competitive”.<br />
Imports of these articles by the US picked up to $1.38<br />
billion over the next 10 years through 2018, “thanks to the<br />
industry of <strong>Indian</strong> exporters,” said Sabyasachi Ray, Executive<br />
Director, GJEPC. But exports are still below the pre-GSP<br />
withdrawal levels. <br />
40 | august-september <strong>2019</strong> | INDIAN JEWELLER
Policy & Market UPdate<br />
Customs clarifies that gems and jewellery carried for<br />
international exhibitions now exempted from IGST<br />
Following the Ministry of Finance’s<br />
announcement that no IGST will<br />
be levied on gem and jewellery<br />
carried outside the country for<br />
exhibition purposes, Director (Customs)<br />
has clarified regarding applicability of<br />
relevant rules on goods, which were<br />
exported earlier for exhibition purpose/<br />
consignment basis.<br />
Till now, gem & jewellery which was<br />
being carried outside of the country even<br />
for exhibition/ consignment purpose<br />
was attracting IGST at re-import.<br />
This comes into effect after several<br />
representations made by the gem &<br />
jewellery trade and industry body to the<br />
Union Ministry of Finance, Department<br />
of Revenue & Central Board of Indirect<br />
Taxes & Customs for exemption of IGST<br />
for the gems and jewellery carried for<br />
exhibition purpose.<br />
The statement from Director Customs<br />
clarified that that the activity of sending<br />
/ taking the goods out of India for<br />
exhibition or on consignment basis for<br />
export promotion do not constitute<br />
as supply as the said activity does not<br />
fall within the scope of section 7 of the<br />
CGST Act as there is no consideration<br />
at that point in time. Since such activity<br />
is not a supply, the same cannot be<br />
considered as “Zero Rated Supply” as<br />
per the provisions contained in section<br />
16 of the IGST Act. Also that there is no<br />
requirement of filing any LUT/bond as<br />
required under section 16 of IGST Act,<br />
2017 for such activity of taking specified<br />
goods out of India.<br />
The Circular clarifies that since no<br />
integrated tax was required to be paid<br />
for specified goods at the time of taking<br />
these out of India, the activity being<br />
not a supply, hence the said condition<br />
requiring payment of integrated tax<br />
at the time of re-import of specified<br />
goods in such cases is not applicable. It<br />
is clarified that such re-import cannot<br />
be taken to be falling under situation<br />
at Sl. No. 1(d) of the said Notification.<br />
Such cases will fall more appropriately<br />
under residuary entry at Sl. No. 5 of the<br />
said Notification even though those<br />
specified goods were exported under<br />
LUT, in view of the fact that the activity<br />
of sending / taking specified goods out<br />
of India is neither a supply nor a zero<br />
rated supply. <br />
record 37.9 tonnes of gold recovered from<br />
scrap jewellery in april-June <strong>2019</strong><br />
After a buoyant June quarter,<br />
<strong>Indian</strong> consumers are now<br />
staying away from fresh sale<br />
of old or used gold and jewellery to<br />
generate cash in July and <strong>August</strong>, due<br />
to forecasts of a further rise in bullion<br />
prices. Data compiled by the World<br />
Gold Council (WGC), the global gold<br />
miners’ body, estimated a record 37.9<br />
tonnes of gold recovered from scrap<br />
jewellery in April-June <strong>2019</strong> quarter,<br />
up 18.4 per cent from 32 tonnes<br />
reported in the corresponding period<br />
last year.<br />
Trading at Rs 31,648 per 10 grams<br />
on April 1, <strong>2019</strong>, standard gold price<br />
spiked to touch Rs 33,500 per 10<br />
grams towards the end of the June<br />
quarter. Such a price level had not<br />
been not seen in the past six years<br />
and tempted consumers holding old<br />
gold to encash it. The price further<br />
jumped from the June-end level by 12<br />
per cent to Rs 37,519 per 10 grams<br />
on Wednesday, <strong>August</strong> 14.<br />
“<strong>Indian</strong> consumers found a good<br />
opportunity to sell their used<br />
ornaments for cash in June quarter,”<br />
Somasundaram P R, managing<br />
director (India), WGC had said while<br />
unveiling Gold Demand Trend data for<br />
June quarter. Since then, gold started<br />
moving up in the international market<br />
following estimates of US Fed’s<br />
interest rate cut, which weakened<br />
dollar but strengthened bullion.<br />
Analysts started forecasting robust<br />
safe-haven buying in gold amid fears<br />
of escalation in the ongoing trade<br />
war between the United States and<br />
China, and geo-political tensions in<br />
West Asia following global economic<br />
sanctions on Iran.<br />
“There has been less consumer<br />
turnout for sale of used jewellery<br />
since July due primarily to hopes of<br />
further price increase. Used jewellery<br />
sales have declined by 50-60 per<br />
cent in six weeks starting July 1,” said<br />
Manoj Kumar Jha, Managing Director,<br />
Kamakhya Jewels, a Mumbai-based<br />
jewellery maker and retailer. <br />
42 | august-september <strong>2019</strong> | INDIAN JEWELLER
AssociAtions & trAde bodies<br />
Jaipur <strong>Jeweller</strong>s<br />
Association<br />
welcomes waiving<br />
of iGst on reimport<br />
of gems<br />
and jewellery<br />
Industry Steering Committee<br />
releases blueprint for spot gold<br />
exchange in India<br />
The Industry Steering Committee released its report on the<br />
need for a spot gold exchange in India as it was informed<br />
that India currently has few commodity exchanges. These<br />
operate as futures exchanges which are primarily used to hedge<br />
against gold price risk and take proprietary positions on gold price<br />
movement.<br />
A spot exchange, on the other hand, focuses on price discovery<br />
and hence, provides the entire ecoystem around physical<br />
deliveries. India is the second largest consumer of gold globally<br />
with an annual gold demand of approximately 800-900 tonnes<br />
and holds an important position in the global markets. However,<br />
the domestic market is plagued by challenges such as lack of<br />
quality assurance, weak price transparency and high market<br />
fragmentation.<br />
A gold spot exchange can address these challenges and<br />
eliminate resulting market inefficiencies. The Committee<br />
proposes setting up of Bullion Exchanges that would provide an<br />
efficient and trusted ecosystem for trading gold and ensure the<br />
success of financialisation of gold, with an aim to improve market<br />
transparency, protect the interests of market participants and<br />
facilitate India to emerge as a price setter for gold.<br />
Catering to stakeholders across the gold ecosystem, the<br />
exchange could transform India’s gold market, enhance the wider<br />
economy and drive India’s status on the global gold stage. As such,<br />
the gold spot exchange has drawn support from policymakers,<br />
industry leaders and investors.<br />
In February 2018, for example, the Union Budget address from<br />
India’s Finance Minister stressed that a gold spot exchange was a<br />
key government aim. On the back of extensive consultation with<br />
market participants and learnings from leading global and <strong>Indian</strong><br />
exchanges, the report sets out a detailed blueprint for the gold<br />
spot exchange, covering the key aspects for effective delivery. <br />
The Jaipur <strong>Jeweller</strong>s Association welcomed<br />
the finance ministry’s decision to waive<br />
off the IGST on re-import of gems and<br />
jewellery dispatched to foreign nations for<br />
the purpose of being showcased in the global<br />
exhibitions and trade fairs. Earlier, the gem and<br />
jewellery being dispatched even for exhibition<br />
and consignment was attracting the IGST on<br />
their re-import.<br />
Association President Sanjay Kala said, “The<br />
finance ministry’s indirect tax department on<br />
Thursday gave a<br />
big relief to gem &<br />
jewellery exporters<br />
by announcing<br />
that the jewellers<br />
shall not have to<br />
pay the IGST again<br />
on re-import of<br />
gems and jewellery<br />
which were sent<br />
to foreign nations<br />
to be showcased<br />
in international fairs and exhibitions. Jaipur<br />
<strong>Jeweller</strong>s Association along with the Gem and<br />
<strong>Jeweller</strong>y Export Promotion Council have been<br />
raising this issue with central government for<br />
quite a long time.”<br />
The exporters shall now be able to carry their<br />
gems and jewellery on the basis of delivery<br />
challan meant for approvals and can then<br />
adjust the delivery challan with the jewellery<br />
re-imported within six months of its issuing<br />
date. In the last few months, the jewellers had<br />
reduced the quantity of gems and jewellery to<br />
be sent to foreign nations for exhibition/trade<br />
fairs due to levying of GST on returned goods<br />
which brought in quite a decline in export<br />
business. Now the decision taken by finance<br />
ministry is sure to boost our business, said<br />
Kala.<br />
46 | august-september <strong>2019</strong> | INDIAN JEWELLER
RetAil & ecommeRce<br />
CaratLane opens a new store in Powai<br />
Expanding its presence in retail, CaratLane - A Tanishq<br />
Partnership, has recently launched a new store at<br />
Mumbai’s City Park in Powai. With this latest addition,<br />
CaratLane now has 7 stores in Mumbai, 15 in the Western<br />
region of India and 62 across the country. The new outpost of<br />
CaratLane brings a brand new jewellery buying experience to<br />
shoppers in the vicinity, especially to consumers that love to try<br />
before they buy.<br />
Speaking on the opening of new store, MithunSacheti, Founder<br />
& CEO of CaratLane, said, “Mumbai is a crucial market for us and<br />
we have had a high demand to launch more stores here. This<br />
store is likely to appeal more to the young working professionals<br />
residing in the area and hence is designed keeping their needs<br />
in mind. We are looking forward to welcoming the residents of<br />
Powai to a whole new experience that will help them discover<br />
fine jewellery like never before.”<br />
The new outlet supplements the brand’s strong foothold in<br />
the retail. <br />
Apranje <strong>Jeweller</strong>s and Forevermark<br />
present a diamond showcase<br />
This season, Forevermark, the<br />
diamond brand from the De Beers<br />
Group will showcase a sparkling<br />
collection of diamond solitaires at the<br />
Apranje <strong>Jeweller</strong>s’ store in the city. These<br />
beautiful Forevermark diamonds are on<br />
display from 18 July to 5 <strong>August</strong> <strong>2019</strong>.<br />
Forevermark diamonds are the world’s<br />
most carefully selected diamonds while<br />
Apranje <strong>Jeweller</strong>s are known for their<br />
high quality standards and consistency<br />
in designing hallmark jewellery pieces.<br />
The solidarity of these two brands have<br />
brought about an ideal association to<br />
offer elegant diamond solitaires that<br />
come with a unique inscription number<br />
by Forevermark assuring you that<br />
they are the most beautiful, rare and<br />
responsibly sourced diamonds.<br />
Gracing the launch was the talented<br />
filmstar, Haripriya. Adorned with<br />
beautiful Forevermark jewellery, she<br />
said, “It is truly a privilege to be present<br />
LtoR - Ambika Narayan, Director, Apranje <strong>Jeweller</strong>s, filmstar Haripriya,<br />
Sachin Jain, President - Forevermark India<br />
at this exquisite Forevermark diamond<br />
showcase exclusively at Apranje<br />
<strong>Jeweller</strong>s. A Forevermark diamond is<br />
known for its beauty and rarity. Given<br />
that less than 1 per cent of the world’s<br />
diamonds are eligible to become<br />
Forevermark diamonds, makes me<br />
feel even more special to wear this<br />
beautiful piece of jewellery today.” <br />
48 | august-september <strong>2019</strong> | INDIAN JEWELLER
RETAIL & ECOMMERCE<br />
Reliance Jewels announces launch of three<br />
showrooms in Hyderabad, Bhagalpur & Chandigarh<br />
Reliance Jewels has launched three<br />
new showrooms in Hyderabad,<br />
Bhagalpur & Chandigarh to mark<br />
its 12th anniversary. With the grand<br />
new showroom launch in all three cities,<br />
patrons can now enjoy the launch of<br />
new “Aabhar Collection” inspired by the<br />
creator’s most beautiful expression of<br />
grace - Peacock.<br />
The Aabhar collection consists of Gold<br />
& Diamond earrings in beautiful ornate<br />
designs created to dazzle extraordinary<br />
as well as everyday moments. With a<br />
robust expansion plan, Reliance Jewels<br />
aims to provide its customers with not just<br />
exquisite jewellery collection, but also endto-end<br />
services related to jewellery.<br />
The new showroom is well equipped<br />
with all the modern technologies that<br />
will assist patrons in a holistic manner,<br />
thereby creating a complete jewellery<br />
shopping experience. The showroom<br />
will display a wide range of exclusive<br />
traditional and contemporary gold and<br />
diamond jewellery.<br />
Sharing his thoughts on the launch of<br />
the new showroom, the spokesperson<br />
for Reliance Jewels said, “We are<br />
delighted to announce the launch of our<br />
three new showrooms in Hyderabad,<br />
Bhagalpur & Chandigarh. With the<br />
vision of rapid expansion and constant<br />
support and trust from our customers,<br />
we strive to provide the best shopping<br />
experience complemented with price,<br />
quality and purity assurance. We are<br />
looking forward to bringing our exclusive<br />
collection for our customers.” <br />
SWAROVSKI CERAMICS A WORLD OF NEW<br />
CONSCIOUS JEWELRY OPPORTUNITIES<br />
Swarovski, a company that<br />
has enthusiastically pursued<br />
creativity, craftsmanship, and<br />
innovation for more than 120 years, is<br />
proud to introduce its latest cuttingedge<br />
jewelry stone. Swarovski<br />
Ceramics represents a radiant addition<br />
to the Swarovski material portfolio as<br />
a high-tech product that reflects all of<br />
the company's demanding social and<br />
environmental criteria.<br />
Conceived and 'Made in Austria'<br />
at home in the company’s Wattens<br />
headquarters, Swarovski Ceramics<br />
introduces a brilliant range of stones<br />
to the jewelry segment, all with<br />
exceptional clarity, cut, and color. The<br />
ingenious new material unites the<br />
texture, durability, and elegance of<br />
high-tech ceramic with the brilliance<br />
and versatility of clear gemstones.<br />
With Swarovski Ceramics, jewelry<br />
designers are now introduced to<br />
a whole new world of innovative<br />
possibilities. These are stones ideal<br />
for the creation of modern, conscious<br />
jewelry that meets all the high demands<br />
of today’s discerning consumer.<br />
Swarovski Ceramics, available in the<br />
5 signature Color Brilliance Cuts, is<br />
naturally entirely free of harmful<br />
substances. Available in a superb<br />
range of 10 colours, these new stones<br />
are also a perfect complement to the<br />
existing Swarovski Zirconia range.<br />
Each stone has a high hardness factor<br />
and refractive index, and a durability<br />
that makes it ideal for casting-inplace<br />
jewelry production. Every single<br />
Swarovski Ceramics product is marked<br />
with a microscopic laser engraving<br />
that is entirely invisible to the naked<br />
eye. It does not affect the brilliance of<br />
the stone in any way and represents<br />
a compelling proof of authenticity<br />
and its responsible origin. Swarovski<br />
Ceramics stones can be customproduced<br />
in any shape and shade<br />
across the blue, green, yellow and pink<br />
color spectrum, and Swarovski offers<br />
a full range of application, design, and<br />
trend support services. Many benefits<br />
are also available through the brand’s<br />
Ingredient Branding Program “Created<br />
Stones from Swarovski”. <br />
50 | august-september <strong>2019</strong> | INDIAN JEWELLER
Branding & advertisement<br />
senco gold & diamonds<br />
rolls out a new campaign<br />
“shine On” featuring ace<br />
Cricketer sourav ganguly<br />
Senco Gold & Diamonds rolled out a new<br />
brand campaign “Shine On” featuring former<br />
<strong>Indian</strong> cricketer Sourav Ganguly who is also<br />
the brand ambassador of Senco Gold & Diamonds<br />
since 2015. In a new TVC for AHAM, a new range<br />
of men’s jewellery from Senco Gold & Diamonds,<br />
Sourav will be playing a role of his own life – how<br />
he outplays the rivals and silences the critics. In<br />
a glittering event in Kolkata, Prince of Calcutta<br />
Sourav Ganguly and Suvankar Sen, Executive<br />
Director –Senco Gold & Diamonds, unveiled the<br />
new range of “AHAM” collection.<br />
AHAM, the new men’s collection from the house<br />
of Senco Gold & Diamonds offers a signature<br />
collection of rings, bracelets, cufflinks, ear-studs,<br />
chains and pendants in diamond, gold and silver.<br />
The collection has been designed especially for<br />
the cosmopolitan man; urbane, dignified and<br />
grounded. This signature range can be used as<br />
part of daily wear as well as in social occasions or<br />
for sheer power dressing by the men of honor.<br />
The brand AHAM embodies the spirit of selfconfidence<br />
along with the desire to succeed. Who<br />
embodies it other than Sourav Gaungly? He is a a<br />
self-made ace cricketer, an astute captain and one<br />
of the best thinking minds in India. Today’s youth<br />
who are hungry to succeed can easily relate to<br />
him and draw inspiration. AHAM is just not a style<br />
statement, a vision to move in dada’s path and<br />
become successful in life. The idea of the campaign<br />
is based on the persona and the charisma of<br />
such a gentleman who is always shining brightly.<br />
The tagline “SHINE ON” signifies the inherent<br />
encouragement to become successful. <br />
LtoR - Suvankar Sen, Shaankar Sen &<br />
Sourav Ganguly<br />
Buzzinga Digital wins the digital<br />
mandate for Khazana <strong>Jeweller</strong>y<br />
Famed to be one of the major retailers<br />
of South India’s jewellery market,<br />
Khazana <strong>Jeweller</strong>y has awarded its<br />
digital mandate to Mumbai-based Buzzinga<br />
Digital. With more than 50 outlets spread<br />
across South India and the Middle East, the<br />
brand offers a wide range of intricate designs<br />
under its signature Bridal, Temple, Fusion,<br />
Antique, Classic, and Kundan Collections.<br />
For almost three decades, this jewellery powerhouse from the South<br />
has pushed the boundaries of design and innovation and is poised to go<br />
further with Buzzinga Digital by its side. Buzzinga Digital, a 360-degree<br />
digital marketing agency, will employ its expertise in managing the<br />
brand’s digital persona.<br />
Speaking on the appointment, Kishore Jain, Managing Director,<br />
Khazana <strong>Jeweller</strong>y, said, “We are aggressively scaling up Khazana<br />
<strong>Jeweller</strong>y through digital media. We believe Buzzinga Digital has the<br />
attitude, agility, and skill to partner with us in this growth and definite<br />
potential to help us reach our goal. We are glad to have them on board<br />
and see them as long-term partners.”<br />
Speaking on the new account win, Buzzinga CEO, Yashraj Vakil, said,<br />
“This new association is extremely exciting for us. Khazana <strong>Jeweller</strong>y<br />
poses a distinctive challenge compared to some of our other clients.<br />
They have a distinctive mix of targeted demographics and geographies,<br />
which are at the precipice of digital growth in India and are ready to take<br />
the plunge. We’ll be ready as they buckle up for this new journey and<br />
make Khazana <strong>Jeweller</strong>y their jeweler of choice.” <br />
Tanishq launches new campaign<br />
‘Ahalya’<br />
Tanishq has partnered with OMI, outdoor agency arm of<br />
Laqshya Media Group to launch and execute their latest<br />
campaign ‘Ahalya’. Tanishq’s campaign ‘Ahalya’ is all about how<br />
beautiful and ethereal a woman’s intrinsic radiance is. It has thus<br />
selected media vehicles which are high on impact and that evoke a<br />
lasting impression, like panaromic billboards, airport media and mall<br />
media, gathering maximum eyeballs which<br />
are apt as per the TG’s presence physically<br />
and psychologically.<br />
“We’re launching this exceptional diamond<br />
jewellery collection because it reflects the<br />
inner fire emanating from the woman who<br />
adorns it. The campaign captures the brilliance,<br />
scintillation and fire in the diamonds of this collection and is an ode<br />
to the beauty of the woman who is her own muse. We hope women<br />
enjoy experiencing this collection as much as we enjoyed bringing<br />
it to them,” Deepika Tewari, Associate Vice President, Marketing,<br />
<strong>Jeweller</strong>y Division at Titan Company Limited, said. <br />
52 | august-september <strong>2019</strong> | INDIAN JEWELLER
Branding & advertisement<br />
Anil Kapoor appointed new brand ambassador for<br />
Malabar Gold and Diamonds<br />
Kerala based jewellery retailer<br />
Malabar Gold & Diamonds on<br />
Wednesday announced it has<br />
appointed Bollywood actor Anil Kapoor<br />
as its brand ambassador. Kapoor joins<br />
Bollywood actor Kareena Kapoor Khan,<br />
South <strong>Indian</strong> film actor Tamannaah Bhatia<br />
and former Miss World Manushi Chillar in<br />
promoting the brand.<br />
The 62-year-old actor will be seen in a<br />
new television commercial series by the<br />
brand titled ‘Malabar Promises’, which will<br />
be released shortly. Known for his versatile<br />
acting, the National Film award winning<br />
actor’s career has spanned almost 40 years<br />
as an actor, and a producer since 2005.<br />
He has appeared in numerous Bollywood<br />
movies along with a brief stint in Hollywood<br />
as well as two television series.<br />
“We are happy to welcome Anil Kapoor<br />
to the Malabar Family. We have been<br />
associated with the actor over the last five<br />
years for various store inaugurations, so this<br />
was a natural progression of our relationship.<br />
His fame and recognition in India as well as<br />
globally will undoubtedly complement and<br />
strengthen our communication strategy to<br />
achieve the aggressive expansion plans we<br />
have in India as well as globally,” Ahammed<br />
MP, chairman, Malabar Group, said. <br />
Kalyan <strong>Jeweller</strong>s strengthens<br />
trust through 4 Level<br />
assurance plan<br />
Kalyan <strong>Jeweller</strong>s unveiled the 4-Level Assurance<br />
initiative by offering patrons the 4-level assurance<br />
certificate. While jewellery retailed at Kalyan <strong>Jeweller</strong>s<br />
goes through multiple purity tests and are all BIS hallmarked,<br />
the 4-level assurance certificate promises customers<br />
payment on the value<br />
of purity mentioned<br />
in the invoice during<br />
exchange or resale. The<br />
product information<br />
section under 4-level<br />
Assurance clarifies that<br />
customers are charged<br />
gold rate only on the<br />
total value of the gold used, after deducting the weight of<br />
other materials like lac, gemstones, glass, wood, enamel etc,<br />
from the total weight of the product.<br />
The 4-level certificate will be applicable across all<br />
Kalyan showrooms in India from <strong>August</strong> 1, <strong>2019</strong>. Existing<br />
customers can walk into any Kalyan <strong>Jeweller</strong>s showroom<br />
with their jewellery to have them re-evaluated and 4-level<br />
assurance stamped. A similar certification has already been<br />
implemented for diamonds and gemstone jewellery at<br />
Kalyan <strong>Jeweller</strong>s. The jewellery brand is also running a media<br />
campaign about this 4-level assurance certification. <br />
Luxury jeweller Tiffany &<br />
Co makes its way to India<br />
through Reliance Industries<br />
India’s Reliance Industries Ltd is partnering with<br />
iconic US-based luxury jeweller Tiffany & Co to<br />
open a line of stores in the country, adding yet<br />
another marquee name to its growing portfolio of<br />
brands. Tiffany, popular for its engagement rings<br />
and robin’s egg blue boxes, plans to open stores in<br />
New Delhi and Mumbai in the second half of fiscal<br />
years <strong>2019</strong> and<br />
2020 respectively,<br />
the company said,<br />
adding that India’s<br />
“growing luxury<br />
consumer base<br />
presents a unique<br />
opportunity”.<br />
The tie-up<br />
comes as Reliance,<br />
which is run by Asia’s richest man Mukesh Ambani<br />
who runs a sprawling conglomerate, bolsters<br />
its consumer-focused units such as retail and<br />
telecoms to match the strength of its dominant oil<br />
and gas business. The company bought British toy<br />
retailer Hamleys earlier this year. For Tiffany, known<br />
for its diamond engagement rings and a flagship<br />
Manhattan store made famous by Audrey Hepburn,<br />
the deal represents its latest effort to expand<br />
globally as it battles subdued demand in the United<br />
States and Europe. <br />
54 | august-september <strong>2019</strong> | INDIAN JEWELLER
etc news<br />
Divine Solitaires & eJOHRI host the<br />
exclusive Pathbreakers Conclave <strong>2019</strong><br />
for partner jewellers<br />
Shailen Mehta, Jignesh Mehta and Hitesh Mehta at the conclave<br />
Global solitaire jewellery brand Divine Solitaires and eJOHRI,<br />
India’s first online jewellery marketplace, together hosted<br />
a soiree called the ‘Pathbreakers Conclave <strong>2019</strong>’ at<br />
The Westin, Mumbai. The event which had a sprinkling of both<br />
business and entertainment was attended by 200 plus associate<br />
jewellers from across the country.<br />
The conclave aimed at bringing together members of the<br />
jewellery industry, expressing gratitude for their support and<br />
fostering a community feeling. The session also highlighted the<br />
milestones achieved by Divine Solitaires and eJOHRI and their<br />
industry-first initiatives. The conclave also unravelled new plans<br />
and projections both the brands have for their partner jewellers.<br />
The event placed special emphasis on the importance of<br />
disruption and innovation. Dr Arokiaswamy Velumani, Founder,<br />
Chairman and Managing Director, Thyrocare, was the keynote<br />
speaker at the event. He discussed the need for organised<br />
business and transparency in an industry that is still dealing<br />
with the lack of organisation. He also spoke about the need for<br />
disruption in today’s businesses. According to him, the power to<br />
think differently is the first step in the process of disruption.<br />
Jignesh Mehta, Founder and Managing Director, Divine Solitaires,<br />
said “The customer preferences are changing and brands need to<br />
stand out in the diamond industry. We are launching new solitaire<br />
jewellery collections that resonate with the style quotient of the<br />
new-age consumers. The company has expanded over the years.<br />
Reaching out to newer domestic and global markets is the key to<br />
growing at a rapid pace. We have also launched new campaigns<br />
in print and cinemas to create a robust marketing ecosystem that<br />
will be complemented with our new and modular VM and in-store<br />
setup.”<br />
“eJOHRI has proven that e-commerce is the future of fine<br />
jewellery in India. It is O2O or the Online to Offline and Offline to<br />
Online connect that is leading the way. Both support each other<br />
to create a successful brand. eJOHRI has made a niche for itself<br />
by giving jewellers their own online space to grow their brands.<br />
Last month, we celebrated a very commendable achievement<br />
of collaborating with 100 of the most renowned jewellers<br />
nationwide. Our platform is unique and scalable. It is designed<br />
to add tremendous value to the business of our valued partner<br />
jewellers,” said Shailen Mehta, Founder & CEO, eJOHRI. <br />
JJA hosts seminar on<br />
Oversees Bad Debt<br />
Recovery system<br />
The Jaipur <strong>Jeweller</strong>s Association organized<br />
a seminar on ‘Oversees Bad Debt<br />
Recovery System’ on 28 June <strong>2019</strong> at<br />
the office in Johari Bazaar, Jaipur. More than<br />
80 exporters participated in the seminar.<br />
Hon. Secretary DP Khandelwal introduced A<br />
Banerjee, who is a degree holder from Harvard<br />
University on Trade dispute arrangement. She<br />
explained how the financial risks have increased<br />
with the increase in business and globalization.<br />
She further elaborated on management<br />
and evaluation of these risks. Sanjay Kala,<br />
president of the Association said that with<br />
more than 7000 happy consumers, Banerjee’s<br />
firm is providing services to companies across<br />
112 countries. Joint Secretary Neeraj Lunawat,<br />
told the participants that they can learn more<br />
about the services and benefit from them. <br />
The Leo Jewels opens new<br />
office at Opera House<br />
T<br />
Leo Jewels inaugurated<br />
its operational head<br />
office at the former<br />
diamond district of Opera<br />
House in Panchratna<br />
building. Spread across 400<br />
sq ft, The Leo Jewels is a<br />
manufacturer of diamonds<br />
and polki studded jewellery.<br />
A family run business started<br />
by Uresh Shah in the year 1989 and this company<br />
was started by Shagun Shah in 2014. They also<br />
have an office in the current diamond hub, Bharat<br />
Diamond Bourse. The brand offers diamond and polki<br />
jewellery catering to the north <strong>Indian</strong> market and a<br />
mix of southern temple jewellery as well.<br />
56 | august-september <strong>2019</strong> | INDIAN JEWELLER
etc news<br />
On hearing the news of<br />
his demise, there was an<br />
outpour of condolence<br />
messages:<br />
Deepest condolences to Titu and family - Mukul<br />
Rohtagi – Ex Attorney General of India<br />
“Your dad was an amazing personality and a<br />
visionary. He was an institute himself. So much<br />
to learn from him and still always so humble. He<br />
had seen it all in 60+ years in business. Shorya<br />
was fortunate to be his closest. I understand<br />
he is going to miss him. I would tell this to<br />
Shorya that he can pay tribute to his grandpa<br />
by following his footsteps and together with<br />
you take Moti Jewels Palace to level his grandpa<br />
would be proud of. I am sure he will and can do it<br />
“– Salil Shah, Diamsure Ltd.<br />
Industry mourns Moti<br />
Jewels Palace’s shri.<br />
Rajender Kumar’s<br />
demise<br />
Rajender Kumar was born on 27 November 1939.<br />
He was 20 years old when he joined his ancestral<br />
business of gems & jewellery with his father. His<br />
company Moti Jewels Palace was established in 1957.<br />
He began his business in his haveli known as Man Mahal<br />
at Old Delhi. He was a man who was dynamic and was<br />
known for his vision. He was the Vice President of Delhi<br />
<strong>Jeweller</strong>s Association for the last ten years and an<br />
executive member for over fifty years. Though he had<br />
the opportunity to become the Chairman of GJEPC for<br />
the Northern region but he opted out as he chose to be<br />
in the working committee. He felt that there are other<br />
senior fellow members who should get a chance. Helping<br />
people was his second nature and his advice mattered a<br />
lot to people in the industry.<br />
In his tenure, he made built rapport with many<br />
important clients like Jacquline Kennedy, Hilary Clinton,<br />
King Hussein from Jordan, King of Kuwait, Youngest<br />
Princess of Thailand H.H. Chulabhorn, many of the Royal<br />
Families of India to name few. <br />
“My heartfelt condolences to you and your<br />
family. I will surely miss the presence of a truly<br />
lovable and kind person. I am sorry for your loss.<br />
Your father will be missed and he will never be<br />
forgotten, may his soul rest in peace” -Mehul<br />
Durlabhji, R.Y.Durlabhji, Jaipur<br />
“I am deeply shocked to hear of the sudden<br />
demise of your beloved father Rajender Kumar. I<br />
have known your family since your grandfather’s<br />
time and I always admired your father for the<br />
dedication he had shown to his profession. He<br />
was widely respected in his professional field<br />
and above all as a good human being. I offer<br />
my heartfelt condolences to you and share in<br />
your loss and sorrow. May you and your family<br />
members have the strength to bear this loss<br />
and may his soul”” rest in peace” - Nazma<br />
Hepatulla, Governor of Manipur<br />
“I am deeply saddened by the news of your<br />
loss. I pray that God will grant you the strength.<br />
My most sincere condolences. May care and<br />
love of those around you provide comfort and<br />
peace to get you through the days ahead. My<br />
most sincere condolences on behalf of whole<br />
association” - Ashok Phophalia – Hon.Gen.<br />
Secretary - DJA<br />
60 | august-september <strong>2019</strong> | INDIAN JEWELLER
Designscape<br />
Mrinalini Chandra<br />
Queen of the<br />
‘Kaleeras’<br />
From chairs to marigolds, math and candy, Mrinalini Chandra finds<br />
inspiration from a variety of objects, but what makes each of her<br />
jewellery standout is her special ability to make them offbeat and<br />
interesting observes Vijetha Rangabashyam<br />
62 | august-september <strong>2019</strong> | INDIAN JEWELLER
I never wanted to be a traditional jewellery designer and I did<br />
not do any typical jewellery course. I did fashion and lifestyle<br />
accessories at NIFT and I specialized in high jewellery and<br />
accessories in Milan. My entire passion towards jewellery<br />
comes from my journey which has been very off-beat<br />
It takes a lot of courage to improvise on<br />
something that is very traditional and<br />
holds a lot of meaning. This was exactly<br />
Mrinalini Chandra’s claim to fame – she<br />
took the humble Kaleeras and gave it an allnew<br />
meaning, by making it more personal,<br />
quirky and modern, while retaining its oldworld<br />
charm. Mrinalini is not in the jewellery<br />
business to make ordinary things, she is here to<br />
make extraordinary things out of something<br />
you wouldn’t even care to look more than<br />
once. The mundane chair for instance; who<br />
would’ve thought a chair can be celebrated<br />
in so many ways? Her ‘Please have a Seat’<br />
collection which was launched in 2014 is still<br />
a cult. Her fresh take on designs and playful<br />
approach to jewellery has won her many<br />
celebrity audiences like Sonam Kapoor and<br />
Priyanka Chopra. “I never wanted to be a<br />
traditional jewellery designer and I did not do<br />
any typical jewellery course. I did fashion and<br />
lifestyle accessories at NIFT and I specialized<br />
in high jewellery and accessories in Milan. My<br />
entire passion towards jewellery comes from<br />
my journey which has been very off-beat.”<br />
Mrinalini was exposed to regional art<br />
forms at a very young age and since her father<br />
was in the services, he would get transferred<br />
across the country, to remote and small towns.<br />
“The local craft in such towns was thriving.<br />
Wherever we lived, my mother would get<br />
a piece of jewellery for me. So my wedding<br />
jewellery is little things belonging to different<br />
craft wherever my parents lived. I have some<br />
polki jadau jewellery from Rampur, the jadau<br />
INDIAN JEWELLER | august-september <strong>2019</strong> | 63
Designscape<br />
I feel my jewellery<br />
should also bring<br />
some kind of joy<br />
to people who buy<br />
it -- some kind of<br />
amusement. I want to<br />
create something that<br />
is not just a piece of<br />
adornment. My pieces<br />
should ignite<br />
conversation<br />
technique there is different. I have beautiful<br />
gold ornaments from Banaras -- things you<br />
normally don’t get these days.” Her inspiration<br />
stems from these traditional art forms but what<br />
makes her different is her approach, which is<br />
rather eccentric in many ways.<br />
Mrinalini’s jewellery is unique and with her<br />
creations she encourages people to break the<br />
monotony and be experimental. “People of<br />
my age want something that they will wear in<br />
the future. They don’t want to be as careful as<br />
their parents. We don’t want to store jewellery<br />
in the locker anymore! So, I find a lot of<br />
brides coming to us for something that they<br />
can wear more often, even after their wedding<br />
is over, for a party or a friend’s birthday.”<br />
Her take on the traditional Kaleera has<br />
been a game changer. Brides from all over<br />
India want to wear her Kaleeras. “There is a<br />
gap in the market for such products. We are<br />
completing five years of my journey with<br />
Kaleeras and I have done some extremely<br />
different ones for extremely brave and funloving<br />
brides.” Taking inspiration from<br />
ordinary things and making it astonishing has<br />
been Mrinalini’s forte. “I like to add a little<br />
fun to everything that is happening around<br />
me and I am a big fan of cartoon, fashion and<br />
movies. In my house, I have lots of plants. If I<br />
see a new plant blooming, it really excites me<br />
and makes me feel happy. I feel my jewellery<br />
should also bring some kind of joy to people<br />
who buy it -- some kind of amusement. I<br />
want to create something that is not just a<br />
piece of adornment. My pieces should ignite<br />
conversation.”<br />
The biggest challenge Mrinalini faces is<br />
the fact that her jewellery is not precious. To<br />
64 | august-september <strong>2019</strong> | INDIAN JEWELLER
The <strong>Indian</strong> wedding<br />
market is massive and<br />
you will be surprised<br />
how every year, there<br />
is a possibility of<br />
creating a new product.<br />
I don’t know from<br />
where the gap arises<br />
and how we are able<br />
to create something<br />
new every time<br />
make up for that, Mrinalini uses semiprecious<br />
stones and gold plated silver. “I think fashion<br />
jewellery has become more meaningful today.<br />
Material-wise, it is completely changed now.<br />
The <strong>Indian</strong> wedding market is massive and<br />
you will be surprised how every year, there is<br />
a possibility of creating a new product. I don’t<br />
know from where the gap arises and how we<br />
are able to create something new every time.”<br />
According to her, hair adornments are<br />
back in fashion. “Hair extensions are really in<br />
fashion – I make those for brides for occasions<br />
like Mehndi. It also gives brides the possibility<br />
of doing a hairstyle which is a bit different<br />
from the regular. People making their initials<br />
in gold or diamond, in precious material is<br />
another big trend we can’t ignore.”<br />
There are so many exciting things in the<br />
pipeline for Mrinalini. She collaborated with<br />
Candy Crush (the game) and came up with<br />
a sweet collection that is a riot of colours. “I<br />
am looking at collaborating with some more<br />
companies. I think customization is something<br />
that is becoming very important for us as a<br />
brand, also because our USP is creating oneoff<br />
pieces. The idea of gifting really works for<br />
us. Because there aren’t many people who are<br />
doing customized gifting.”<br />
More than anything Mrinalini is passionate<br />
about craft and encouraging craftsmen around<br />
the country is part of her agenda. Every year<br />
she picks one craft and collaborates with<br />
the artisans. This year, she joined hands with<br />
artisans in Hyderabad to create lakh bangles.<br />
She has travelled the world, but when it comes<br />
to finding inspiration, Mrinalini’s heart lies<br />
with India. “The rolling, green hills in the<br />
North East or the variety of roses you find<br />
in Kashmir are quite something. The greenery<br />
and nature in India can’t be found in Europe<br />
or anywhere else in the world.” <br />
INDIAN JEWELLER | august-september <strong>2019</strong> | 65
In focus<br />
ANMOL<br />
Gem Plaza<br />
Narayan <strong>Jeweller</strong>s by Ketan<br />
and Jatin Chokshi<br />
The Forevermark<br />
Artemis Collection<br />
Cuffs<br />
Chuffed<br />
about Cuffs!<br />
A perfect accessory to hug a woman’s<br />
wrists, these cuffs will do the talking<br />
all by themselves. Bold, attentiongrabbing<br />
and stylish, a well designed<br />
cuff never goes out of style!<br />
Ganjam<br />
Amrapali<br />
Aisshpra Gems and Jewels<br />
Zoya - A Tata<br />
Product<br />
66 | august-september <strong>2019</strong> | INDIAN JEWELLER
In focus<br />
Brumani<br />
Malabar Gold and Diamonds<br />
Mallarino<br />
Amrapali<br />
Hoops<br />
Hula<br />
Hoop<br />
nothing more versatile<br />
and stylish than a pair of<br />
hoops. Designers have<br />
always worked around<br />
the circle, giving it a new<br />
dimension, like adding<br />
floral motifs, making<br />
them more geometric or<br />
even adding a couple of<br />
ships on the curve, if you<br />
know what we mean!<br />
Maria canale<br />
AnMoL<br />
Maria canale<br />
Paula Mendoza<br />
Arman sarkisyan<br />
colette Jewelry<br />
68 | august-september <strong>2019</strong> | INDIAN JEWELLER
candere<br />
In focus<br />
chopard<br />
Boucheron<br />
Boghossian<br />
PnG <strong>Jeweller</strong>s<br />
Amrapali<br />
Lotus<br />
Flower oF the Gods<br />
Lotus has been a motif intrinsic to art and crafts of India. There is something<br />
divine about the effulgent lotus and hence it is only second nature to many<br />
artists to use this beautiful blossom in their creations.<br />
Rc Bafna <strong>Jeweller</strong>s<br />
candere<br />
Tribe by<br />
Amrapali<br />
70 | august-september <strong>2019</strong> | INDIAN JEWELLER
In focus<br />
ANMOL<br />
Noor Fares<br />
VBJ<br />
Amrapali<br />
Navratna<br />
ConfluenCe of Colours<br />
Bhima <strong>Jeweller</strong>s<br />
According to ancient puranas, the coming<br />
together of ruby, diamond, blue sapphire, yellow<br />
sapphire, emerald, coral, pearl, cat’s eye and<br />
hessonite has elusive effects on the wearer.<br />
While we can’t be entirely sure about the belief,<br />
we definitely do believe that the marriage<br />
between these gemstones look spectacular!<br />
Aisshpra Gems & Jewels<br />
RK <strong>Jeweller</strong>s South<br />
Extension 2<br />
Amrapali<br />
72 | august-september <strong>2019</strong> | INDIAN JEWELLER
In focus<br />
ANMOL<br />
Misho Designs<br />
Valliyan<br />
Character Study<br />
Bold & the<br />
Beautiful<br />
Chirpy, fun-loving and girl-next-door, Kiara<br />
Advani is the new siren in town and her sense<br />
of style is something we have all come to love.<br />
Her taste in jewellery is especially impeccable.<br />
From grand chokers to statement earrings and<br />
layered pieces, we know for a fact that Kiara<br />
loves her jewellery to be big and bold. If you<br />
are tending to customers who are trying to go<br />
for the “Kiara look”, then you should stock up<br />
on these pieces.<br />
Rosentiques Fine<br />
<strong>Jeweller</strong>y<br />
Flower Child by Shaheen<br />
Abbas<br />
74 | august-september <strong>2019</strong> | INDIAN JEWELLER
Personality<br />
Mitesh Khimji – Khimji <strong>Jeweller</strong>s<br />
<strong>Jeweller</strong> with<br />
a Difference<br />
During his recent visit to Bhubaneswar, the capital city of Odisha,<br />
Anil Prabhakar visited the head office and flagship store of Khimji<br />
<strong>Jeweller</strong>s. He met with Mitesh Khimji, the man at the helm of the<br />
organization with a legacy of 82 years<br />
As you walk into Khimji <strong>Jeweller</strong>s flagship<br />
store, at 621 Janpath in Bhubaneswar,<br />
you cannot help but notice the signage<br />
with the gorgeous Yami Gautam and the<br />
bold facade.The 22,000 square feet store<br />
is brightly lit and well laid out. The ground<br />
floor retails silver jewellery, artefacts and other<br />
affordable products that customers usually<br />
purchase for the purpose of gifting. As you go<br />
higher up the floors, the sections are divided<br />
into gold, diamonds and platinum jewellery.<br />
Khimji also retails a handful of luxury watch<br />
brands from the Swatch group such as Rado,<br />
Longines and Tissot. Apart from this, Khimji<br />
also retails fashion and lifestyle watch brands<br />
like Seiko, Citizen and Fossil Group brands.<br />
Prominent space has been allotted for display<br />
and branding of international brands such as<br />
Swarovski, Forevermark, PGI and Montblanc.<br />
Then & Now<br />
The Khimjis were jewellers that catered<br />
to the Royalty. Baripada was the main city<br />
76 | august-september <strong>2019</strong> | INDIAN JEWELLER
of the princely state of Mayurbhanj. The<br />
business enterprise was established in the<br />
year 1936 in Baripada by Khimji Dayabhai.<br />
In 1982, Kishore Khimji came from Mumbai<br />
after completion of CA and opened the first<br />
jewellery showroom in Bhubaneswar. The<br />
Khimji jewellery business today comprises of<br />
‘Khimji <strong>Jeweller</strong>s since 1936’.<br />
A New Beginning<br />
Mitesh Khimji likes to call himself an<br />
accidental jeweller. When the group split,<br />
he was based in Bhubaneswar where he had<br />
completed his graduation followed by MBA.<br />
His interest lay elsewhere and he was making<br />
good money in mining transport. Dinesh<br />
Khimji, his father had joined hands with his<br />
younger brother Kishore Khimji. Mitesh’s<br />
brother Sumeet Khimji is actively involved<br />
in the business. While Mitesh drives the<br />
Marketing, Finance, HR and admin functions,<br />
Sumeet handles merchandise, store operations<br />
and other activities.<br />
Not content in being just a jeweller, the<br />
Khimji group has diversified into other sectors<br />
as well.<br />
The Khimji group today has become a<br />
brand that is synonymous with trust, quality<br />
and honesty which is not only limited to<br />
jewellery, but also in automobiles, real estate<br />
and many more to come. Presently Khimji has<br />
3 Khimji Honda Showrooms, 3 Royal Enfield<br />
Showrooms and 1 Kawasaki Showrooms<br />
across Odisha and a new Kawasaki Showroom<br />
in Ahmedabad also.<br />
Mitesh took the decision of shifting his<br />
profitably running store to a new and emerging<br />
locality. Janpath was a locality that had no retail<br />
activity at that time. Mitesh realised that as the<br />
city of Bhubaneswar grew, there would be a<br />
clutter in the traditional market places. A new<br />
store in an upcoming locality would give him<br />
an early mover advantage.<br />
Conventional wisdom suggested that he<br />
continue to operate both the stores so that<br />
once the new store is established the old<br />
one can be closed down. Mitesh vehemently<br />
argued his point within the family and opined<br />
that as long as the old store is in operation,<br />
people will not visit the new store. A massive<br />
new teaser campaign was launched promoting<br />
the new address.<br />
This was followed by an SMS campaign that<br />
gave away thirty diamond pendants every day<br />
for thirty days to the winner. All that a customer<br />
needed to do was to answer a multiple choice<br />
question guessing what was coming up at 621<br />
Janpath in Bhubaneswar. The aura, the mystery<br />
and the diamond pendants made sure that the<br />
consumers flocked to the store.<br />
The Khimji group<br />
today has become a<br />
brand that is<br />
synonymous with<br />
trust, quality and<br />
honesty which is<br />
not only limited to<br />
jewellery, but also<br />
in automobiles, real<br />
estate and many<br />
more to come<br />
INDIAN JEWELLER | august-september <strong>2019</strong> | 77
Personality<br />
Mitesh is a<br />
firm believer in<br />
empowering<br />
his team. There<br />
is a pressure on<br />
achieving the targets.<br />
On achievement of<br />
targets, the team<br />
gets an incentive.<br />
The incentive<br />
structure is designed<br />
in such a way that<br />
everyone in the<br />
team gets<br />
benefitted.<br />
Thinking outside the Box<br />
Dhanteras is a big gold and jewellery buying<br />
occasion in all ofIndia. It was not so in Odisha.<br />
However, the credit of making Dhanteras<br />
an occasion for buying gold in the State<br />
goes to Mitesh Khimji. In order to ensure a<br />
faster turnaround time and to maximise sale,<br />
additional cash counters were created. On<br />
Dhanteras, 16 cashiers were deployed.<br />
Consumers preferred to buy gold coins<br />
from the banks because of their on-going<br />
relationship. Khimji released ads in papers<br />
educating the customers that gold coins<br />
bought from the banks cannot be traded. It<br />
was therefore a good idea to buy them from a<br />
jeweller so that gold can be converted to cash<br />
in case of an emergency.<br />
Mitesh believes in the power of advertising.<br />
He chose to appoint the Mumbai basedad<br />
agency Contract Advertising for the latest<br />
multimedia campaign,“ThePerfect Match”<br />
featuring Yami Gautam. The campaign has<br />
an interesting theme that draws inspiration<br />
from SWAYAMVAR, the ancient practice of<br />
choosing a husband from a list of suitors. Yami<br />
chooses a groom from among 15 proposals<br />
that she has received. The voice over says<br />
that a bride has a similar relationship with<br />
her jewellery and compares it with a lifelong<br />
companion.<br />
Secrets to Success<br />
Luxury brands are perceived to be expensive.<br />
While this may not be true as customers have<br />
money with them. It is a good idea to make<br />
exclusive brands inclusive at the retail level.<br />
Applying this principle, Mont Blanc has been<br />
allotted space next to PGI in order to attract<br />
the attention of jewellery buyers. Mitesh<br />
Khimji is of the opinion that if an exclusive<br />
space is allotted to luxury brands, potential<br />
buyers are reluctant to visit that area.<br />
One of the reasons why platinum and<br />
diamond jewellery are doing well at Khimji<br />
<strong>Jeweller</strong>s is due to their proximity to the gold<br />
section. Khimji has taken a holistic view about<br />
the needs of a jewellery buyer. They try to<br />
give a seamless experience to the browsers<br />
by keeping trays of diamond and platinum<br />
jewellery in the gold section.<br />
Consumers irrespective of which section<br />
they visit are shown high value products<br />
withintent to up sell. After they show sufficient<br />
interest, the customers are escorted to the<br />
diamond or platinum area.<br />
On the first Saturday of the month, at sharp<br />
9 am, Mitesh conducts a meeting with his<br />
sales team on the floor of his flagship store.<br />
All his other stores join in by way of video<br />
conferencing. All participants, including<br />
Mitesh sit on the floor. During this meeting<br />
everyone has the freedom to express their<br />
views. Mitesh is a firm believer in empowering<br />
his team. There is a pressure on achieving the<br />
targets. On achievement of targets, the team<br />
gets an incentive. The incentive structure is<br />
designed in such a way that everyone in the<br />
team gets benefitted. At the store level, the<br />
incentive is as high as a 10 gram gold coin.A<br />
tech savvy entrepreneur, Mitesh has created<br />
mobile apps that monitor the sales number on<br />
real time basis. Communication is swift and<br />
direct.<br />
Mitesh’s philosophy is earning and sharing<br />
profits with his team, “If I have graduated from<br />
a Maruti to Mercedes, my team should at least<br />
graduate from a bicycle to a motorcycle,” he<br />
says. His plan for the future is to have an online<br />
presence and also open three new stores in<br />
Odisha. He is very bullish about Jharsuguda<br />
in particular. Flights were first started by<br />
SpiceJet in March, making Jharsuguda Airport<br />
the second operational airport in Odisha.<br />
An industrial hub, it is popularly known as<br />
the “Powerhouse of Odisha” due to a large<br />
number of industries mostly thermal power<br />
plants located nearby. <br />
78 | august-september <strong>2019</strong> | INDIAN JEWELLER
COUTURE IndIa PREvIEw<br />
Jewels from COUTURE India<br />
Pieces of Marvel<br />
Come <strong>September</strong>, one of India’s most coveted fine jewellery exhibits returns<br />
to New Delhi. With handpicked exhibitors from across India, COUTURE India<br />
has made its mark as a premium B2B jewellery exhibition in the country. What<br />
has made the show a success is the stunning jewellery of course, and every<br />
year the design value has gotten only better. Here is a sneak-peek into some<br />
of the jewellery you will witness at the show<br />
AnAnd ShAh JewelS<br />
Bringing in a brand new twist to the monotony of the<br />
prevailing jewellery making craftsmanship, Anand Shah<br />
has given the art of jewellery making an all-new dimension<br />
through his designs. Known to be the ‘alchemist’ of the gold<br />
jewellery business, he has created innovative masterpieces<br />
by blending gold with a variety of multimedia such as<br />
wood, glass, mirror, Swarovski, etc. Each design is created<br />
meticulously by integrating simple elements right from<br />
scratch giving it a beautiful elegant flow. Along with the<br />
avant-garde spirit, his designs are a true reflection of <strong>Indian</strong><br />
aesthetics and culture.<br />
80 | august-september <strong>2019</strong> | INDIAN JEWELLER
Rosentiques Fine<br />
JewelleRy<br />
The Brand’s repertoire comprises<br />
a premium range of exquisitely<br />
designed diamond, polki and<br />
platinum jewellery pieces, all<br />
handcrafted by over 150 incredibly<br />
talented master-craftsmen. The<br />
company has a fabulous collection<br />
and specialises in necklace sets,<br />
bracelets, earrings and rings.<br />
They are also into designing bridal<br />
trousseau, bespoke jewellery and<br />
jewellery upgrade or redesigning.<br />
The designs are stunningly beautiful<br />
with embellishments that make the<br />
wearer stand out from the crowd.<br />
GDK Jewels<br />
At GDK, each piece tells a story of<br />
its own and has been crafted using<br />
some of the rarest gemstones. GDK’s<br />
latest product range comprises of<br />
extraordinary necklaces, earrings,<br />
bracelets and rings using the finest of<br />
diamonds and immaculate coloured<br />
stones. Their designs echo perfection<br />
and enhance the natural beauty of<br />
each stone. Classic settings have been<br />
accentuated with a modern-age finish.<br />
GDK’s Jewels are woven with a rich<br />
family tradition, passed down from<br />
generation to generation resulting in<br />
its distinct quality perfected through<br />
skilled artisans and craftsmen.<br />
INDIAN JEWELLER | august-september <strong>2019</strong> | 81
COUTURE IndIa PREvIEw<br />
ROmil JeWelRy<br />
The Allure collection is<br />
a sublime composition<br />
of round diamonds<br />
in 18kt rose gold<br />
intricately designed and<br />
crafted. The creation<br />
of every unique<br />
piece of jewellery<br />
goes well beyond<br />
just its shape and<br />
design. Every single<br />
element and process<br />
is of fundamental<br />
importance for the success of such a creation.<br />
At Romil, craftsmen meticulously study the<br />
improvements that can be made in all phases<br />
of jewellery making. Over the years,the<br />
company has pioneered various jewellery<br />
making techniques that only they can achieve.<br />
Micro setting is one example of their research<br />
investments. As of today,they are the preferred<br />
house that clients from around the world come<br />
to for this particular technique of jewellery<br />
making.<br />
GOSHWARA<br />
GOSHWARA is a silhouette of<br />
perfect proportions. In the old<br />
Persian courts, it was used to<br />
describe the perfection of beauty as<br />
this shape embodied the essence of<br />
femininity with its luxurious curves.<br />
It was known that only the finest of<br />
craftsman could create a Goshwara.<br />
The brand uses this idea of pristine<br />
craftsmanship today to create<br />
Goshwara’s intricate collections.<br />
Goshwara’s jewellery is designed<br />
and manufactured to exude<br />
sensuous curves with colourful<br />
confidence. In a world, where<br />
originality is rewarded, Goshwara<br />
has evolved and kept up with the<br />
trends. And yet in many ways,<br />
Goshwara is guided by the principles<br />
of timelessness and tradition. The<br />
designs are trendy, yet understated.<br />
They can be both modern and<br />
classic at the same time.<br />
82 | august-september <strong>2019</strong> | INDIAN JEWELLER
KalaJee <strong>Jeweller</strong>y<br />
Kalajee has been creating timeless, artistic<br />
jewellery pieces for more than a decade.<br />
The art house of Kalajee <strong>Jeweller</strong>y not<br />
only creates jewellery but also creates<br />
aspiration for the new age bride. Each<br />
piece is a unique expression, designed<br />
intricately and executed with human<br />
precision to create a distinctive style.<br />
Kalajee <strong>Jeweller</strong>y is a manufacturer and<br />
wholesaler of diamond and polki studded<br />
jewellery in 14k and 18k gold. They<br />
specialise in statement earrings including<br />
chandbalis, jhumkis, jhoomars and studs.<br />
Polki, rose-cuts, pearls, rubies, emeralds,<br />
sapphires and pastel enamel shades are<br />
extensively used in their jewellery. The<br />
jewellery adds a touch of glamour to even<br />
the simplest outfit.<br />
Tara Fine Jewels<br />
The brand is one of the most sought-after<br />
sources for couture diamond jewellery.<br />
Their jewellery is a combination of polki,<br />
slice diamonds, French enamel and precious<br />
gemstones.Each creation reveals their relentless<br />
attention to detail. The seamless mélange of<br />
<strong>Indian</strong> and Western styles is TARA Fine Jewels’<br />
USP. Their jewellery is not just an adornment<br />
but an extension of a woman’s personality.<br />
INDIAN JEWELLER | august-september <strong>2019</strong> | 83
COUTURE IndIa PREvIEw<br />
Rambhajo’s<br />
Rambhajo’s is a name you can trust<br />
when it comes to designer jewellery,<br />
guided by a vision to provide<br />
quality kundan, meena, jadau, polki<br />
jewellery and diamond studded<br />
precious fusion jewellery. The<br />
brand has been giving unparalleled<br />
jewellery experience through their flagship store at Jaipur<br />
and branches in Mumbai & Jodhpur as well as their partner<br />
jewellers. Rambhajo’s embodies the spirit of timeless<br />
beauty captured in 22k gold and diamond polki and exclusive<br />
18k gold jewellery studded with fine quality diamonds<br />
and precious colour stones. The brand has been tirelessly<br />
working towards creating masterpieces for the clientele<br />
who like their jewellery to be truly one-of-a-kind.<br />
TaTiwalas Gehna<br />
Tatiwalas Gehna has been<br />
creating innovative collocation<br />
of kundan-meena and diamond<br />
polki jewellery that reflects<br />
the rich heritage of India. The<br />
collections of fine quality<br />
handcrafted designs are<br />
tailor-made as per customer’s<br />
requirements. The never-seenbefore<br />
designs are created<br />
in-house by their team of skilled<br />
craftsmen.<br />
achal jewels<br />
From vibrant to subtle<br />
and elegant to playful,<br />
Achal Jewels’ enamel<br />
jewellery encompasses<br />
a wide range of colours<br />
and styles. Their<br />
collection this year<br />
includes a wide variety<br />
of pastel coloured<br />
enamel work blended<br />
with gemstones in pleasant pastel hues all finished<br />
off with a smattering of exquisite pearls. Achal Jewels<br />
offers traditional lightweight jewellery in diamonds in<br />
an unbelievable price range. Consumers can choose<br />
from a combination of necklaces, rings, big studs and<br />
long earrings. There will also be a varied collection of<br />
young and fresh looking, chunky jewellery pieces on<br />
display in higher price points.<br />
84 | august-september <strong>2019</strong> | INDIAN JEWELLER
GurukriPa desiGn studio llP<br />
Gurukripa Design Studio is a leading designer, and<br />
manufacturer of South <strong>Indian</strong> temple & Mughal style<br />
jewellery. Its creative designers bring out innovative<br />
and exquisite designs, which are crafted into pieces<br />
with excellent craftsmanship. It deals in the most<br />
exquisite South <strong>Indian</strong> jewellery made of gold, rubies,<br />
emeralds, diamonds and Basra pearls. It also deals in<br />
objects of art, which are inspired from the Mughal era<br />
and Nature. Every piece is traditional and elegantly<br />
designed to stand the test of time.<br />
Matushree Gold llP<br />
Starting its journey in 2013, Bangalore-based<br />
Matushree Gold is a renowned jewellery<br />
manufacturer and wholesaler. A relatively young<br />
jewellery organisation, Matushree Gold is scaling<br />
new heights of fame and<br />
reaching out to a wider<br />
spectrum of customer<br />
base under the leadership<br />
of Ankit K. Jain. The<br />
company is engaged in<br />
the manufacturing of<br />
exceptional Temple Nakash<br />
<strong>Jeweller</strong>y & CZ <strong>Jeweller</strong>y.<br />
Matushree Gold has the<br />
perfect combination of<br />
latest technology and highend<br />
machinery on the one<br />
hand and skilled craftsmen<br />
on the other. Matushree’s forte lies in its designs,<br />
which are a perfect blend of contemporary and<br />
classic, offering a very diverse product portfolio for<br />
its growing client base. They are known for focus on<br />
quality, timely innovation and service.<br />
INDIAN JEWELLER | august-september <strong>2019</strong> | 85
Special Feature<br />
entrepreneur Focus<br />
Your Guidebook<br />
to SucceSS<br />
While it’s true that there is no fixed<br />
path to success and each person’s<br />
path may differ from another’s,<br />
there are certain traits that have<br />
proven to be an undeniable catalyst<br />
to success. Sanjana Parikh finds<br />
out what these are<br />
In competitive times like today, there is<br />
no straight line to success. Unforeseen<br />
circumstances, changing economic climate<br />
and dwindling demands have made the path<br />
to success laden with twists and detours. So in<br />
order to achieve success, hard work, although<br />
important, is no longer enough. A combination<br />
of intelligence, determination and destiny is<br />
required to make the magic happen.<br />
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Goal setting<br />
It may seem like a no brainer, but<br />
setting goals is the primary step on the<br />
path towards success. Just having a goal<br />
in mind is no good. Experts suggest<br />
that one should clearly define their<br />
goals and note them down on a piece<br />
of paper. No matter how large or small<br />
your goal, it is advisable to jot down<br />
each and every goal and place it at a<br />
visible location. This way, you will be<br />
reminded of all the things you want to<br />
achieve every day.<br />
INDIAN JEWELLER | august-september <strong>2019</strong> | 87
Special Feature<br />
Social Media: Boon<br />
or Bane?<br />
Social media is a double edged sword. On<br />
one hand it can throw up creative ideas that<br />
can inspire you and on the other hand, it can<br />
lead to unfair comparisons. Due to instant<br />
access to a stranger’s life, we are constantly in<br />
competition with people who could be on a<br />
totally different path than ours. Social media<br />
only highlights achievements and successes<br />
but fails to show the tough journey behind it.<br />
It can also be an unnecessary distraction that<br />
leads to wastage of time.<br />
Pareto Principle<br />
One of the most useful principles for success is the Pareto<br />
Principle. It is based on the fact that most things in life are<br />
unevenly distributed, thus striking the right balance will lead to<br />
success. The principle states that 80 per cent of the wealth of a<br />
nation is contributed by 20 per cent of its population. Likewise, 20<br />
per cent of input generates 80 per cent of the output so the focus<br />
should be on the 20 per cent that gives value. This principle can<br />
be applied to every businessman in any field as it helps him focus<br />
on value and not get caught up in mundane details.<br />
Start Early<br />
Every successful entrepreneur begins their day at<br />
the crack of dawn. Early risers have been proven<br />
to achieve a lot more than late risers as they take<br />
advantage of the positivity an early morning<br />
brings. It keeps the mind fresh and active and<br />
can be used to get in some exercise as well. After<br />
all, early to bed and early to rise makes a man<br />
healthy, wealthy and wise.<br />
Read Read & Read<br />
Knowledge is truly power and the best way to amass knowledge is through<br />
reading. No matter what your field is, it’s important to have thorough<br />
knowledge regarding current events, industry news and future prospects.<br />
Armed with knowledge, you can easily navigate the direction of your journey<br />
and achieve your goals. Microsoft founder Bill Gates is known to have<br />
set aside 1 hour per day before his bedtime exclusively for reading. Albert<br />
Einstien and Barrack Obama have also been known to be book lovers.<br />
Heart over Head<br />
The legendary battle between head and heart has polarized<br />
crowds for a long time. At some point in the arduous<br />
journey to success, the mind shuts down and heart needs to<br />
take over. A successful individual is one who is able to make<br />
the decision to either follow logic or trust their gut instinct<br />
and end up achieving their goals.<br />
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Build a Network<br />
Fast paced times call for collaboration over competition. A successful<br />
person is one who understands that every person he/she meets has<br />
something new to teach and will try to glean knowledge from them.<br />
Successful people make space in their calendars for networking<br />
events, community initiatives and other social programs so that they<br />
can expand their networks and build a community.<br />
Prepare for Failure<br />
Just like the sun cannot exist without the moon, there cannot be success without<br />
failure. An indispensible roadblock to success, it’s how you handle failure that<br />
defines the extent of your success. History has been peppered with examples<br />
of entrepreneurs who have encountered failure after failure but their grit<br />
and determination has kept them going resulting in becoming world famous<br />
individuals in their respective fields. A good rule of thumb is, “Never take failure<br />
to your heart and don’t let success get to your head.”<br />
Take Risks<br />
No great invention, no great business<br />
or no great accomplishment has ever<br />
been achieved by playing it safe. For<br />
any individual to be successful there<br />
has to be some risk involved. Only an<br />
enterprising, dynamic individual with<br />
the capability of tackling challenges will<br />
make it big. It’s as simple as the saying,<br />
greater the risk; greater the reward.<br />
Exercise<br />
No amount of intelligence, hard work or talent can<br />
pay off if the body is not healthy. In order to maintain<br />
a healthy body, exercise is a must. Experts suggest<br />
that daily exercise releases endorphins which trigger<br />
positive feelings in your brain. This will help maintain<br />
a productive mindset while keeping diseases and<br />
ailments at bay. It is advisable to set aside minimum 30<br />
minutes per day for any form of exercise.<br />
INDIAN JEWELLER | august-september <strong>2019</strong> | 89
Special Feature<br />
Trust & Transparency<br />
The ImporTance of<br />
educaTIng The consumer<br />
Western countries have made attempts to educate and enlighten their<br />
consumers by providing the source of diamonds and other gemstones<br />
used in jewellery. However, <strong>Indian</strong> jewellers have yet to adopt this practice.<br />
Sanjana Parikh speaks to jewellers pan India to understand how aware their<br />
consumers are and how this trend will shape up in the future<br />
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Does your consumer know where the<br />
center stone of her ring comes from?<br />
Can your client pinpoint which<br />
region of the world has produced her strand<br />
of ruby beads? Since trust and transparency<br />
form the foundation of any lucrative business,<br />
how can our industry, which has placed trust<br />
at the centre of its business model, survive<br />
in the long run without transparency? Gold,<br />
diamonds, gemstones and other precious<br />
materials are used in making a piece of<br />
jewellery. To strengthen trust in the mind of<br />
the consumer, important details like where<br />
the stones have been mined from, are they<br />
responsibly mined and what processes have<br />
been followed while cutting and polishing<br />
etc should be given. The responsibility of<br />
procuring and divulging these details lie with<br />
the jeweller if he wants to survive in the long<br />
term.<br />
Saumya Sanjjay of AVR Swarnamahal, a<br />
Salem based chain of jewellery stores says,<br />
“It definitely has an impact when you know<br />
the entire history of the diamond that you<br />
own. Gemstones such as emeralds, rubies,<br />
sapphires and other stones also have their<br />
own stories. When manufacturers provide us<br />
these details, it is another piece of valuable<br />
information that helps us give confidence to<br />
our consumers. It is well within the rights<br />
of the consumers in wanting to know more<br />
information about the stone they are buying.”<br />
The million-dollar question<br />
With increasing awareness and exposure<br />
to information on these precious stones,<br />
consumers should be asking the right<br />
questions to their jewellers. Elaborating<br />
on this trend Saumya adds, “Nowadays,<br />
consumers are extremely aware as they visit<br />
several retailers before deciding on one<br />
particular purchase, and sometimes they end<br />
up giving us information. So, when you have<br />
more information, it definitely adds a lot of<br />
value and impact and helps build a stronger<br />
relationship with our clients. Diamonds and<br />
gemstones need to have their own stories;<br />
they need to have certification and origin<br />
reports. All jewellers should make the effort<br />
to give consumers the right information and<br />
make themselves as transparent and genuine<br />
as possible.”<br />
However, in the city of Nizams, this<br />
trend is almost non-existent. Consumers<br />
prefer trusted jewellers who they have been<br />
patronizing for decades and are unaware<br />
of terms like gemstone origin or tracing.<br />
Abhishek Chanda of Hyderabad based<br />
Kalasha Fine Jewels says, “In our jewellery<br />
segment, diamond jewellery forms 40-45per<br />
cent and gold and jadau jewellery forms the<br />
rest. When our consumers purchase diamond<br />
jewellery from us, they are not too concerned<br />
with origin rather they are price sensitive<br />
and concerned with hallmarking of gold and<br />
It definitely has an impact when<br />
you know the entire history of the<br />
diamond that you own. Gemstones<br />
such as emeralds, rubies, sapphires<br />
and other stones also have their<br />
own stories. When manufacturers<br />
provide us these details, it is another<br />
piece of valuable information that<br />
helps us give confidence to our<br />
consumers. It is well within the<br />
rights of the consumers in wanting<br />
to know more information about the<br />
stone they are buying.<br />
Saumya Sanjjay, AVR Swarnamahal<br />
When our consumers purchase<br />
diamond jewellery from us, they<br />
are not too concerned with origin<br />
rather they are price sensitive and<br />
concerned with hallmarking of gold<br />
and buy back policy. However, they<br />
are interested in certification from<br />
reputed institutes .<br />
Abhishek Chanda, Kalasha Fine<br />
Jewels<br />
INDIAN JEWELLER | august-september <strong>2019</strong> | 95
Special Feature<br />
There is little to no awareness<br />
about origin as we ourselves<br />
as jewellers are not privy<br />
to this information. There<br />
is not much difference in<br />
price of diamonds, which<br />
do have origin report and<br />
those that do not. We have<br />
signed undertaking from our<br />
suppliers that all diamonds<br />
used have been responsibly<br />
sourced and are conflict free.<br />
As long as consumers trust<br />
the brand, I don’t see the need<br />
to provide details.<br />
Kartik Khanna, Khanna<br />
<strong>Jeweller</strong>s<br />
buy back policy. However, they are interested<br />
in certification from reputed institutes like<br />
IGI or SGL. In recent times, Forevermark<br />
diamonds have gained popularity. Consumers<br />
do have some idea that these diamonds are<br />
responsibly sourced and are highly priced,<br />
so the trust level does increase when these<br />
diamonds are used in jewellery pieces. As far<br />
as gemstones are concerned, South India does<br />
not like to spend too much money on them.<br />
They use semi precious stones for their pieces<br />
and avoid the pricier options like carved<br />
emeralds or Burmese rubies which command<br />
high prices.”<br />
Metropolis Matters<br />
The national capital has a similar trend, as<br />
consumer awareness is quite low in Delhi.<br />
However, jewellers are conscious about<br />
using conflict free and ethically mined<br />
diamonds and gemstones. Kartik Khanna,<br />
Khanna <strong>Jeweller</strong>s, Delhi comments, “While<br />
purchasing a product, the consumer wants to<br />
know details like purity of gold, certification<br />
of diamonds and where the coloured stones<br />
are mined from. With regards to coloured<br />
stones, the consumer is aware that gemstones<br />
from certain regions are better in quality<br />
and accordingly priced higher. But there<br />
is little to no awareness about origin as we<br />
ourselves as jewellers are not privy to this<br />
information. There is not much difference<br />
in price of diamonds, which do have origin<br />
report and those that do not. We have signed<br />
undertaking from our suppliers that all<br />
diamonds used have been responsibly sourced<br />
and are conflict free. As long as consumers<br />
trust the brand, I don’t see the need to<br />
provide details .”<br />
In Mumbai, consumers are definitely<br />
brand conscious about the jewellery they<br />
buy and are aware of concepts like diamond<br />
origin and tracing. However with smaller<br />
sized diamonds, it becomes difficult for the<br />
jeweller to furnish details. Mahesh Jagwani<br />
of Mahesh Notandas Fine <strong>Jeweller</strong>y shares,<br />
“Smaller diamonds are mostly produced in<br />
India itself but bigger sizes can be imported<br />
from Belgium or Hong Kong. Earlier there<br />
was a monopoly held by De Beers and DTC,<br />
which mined diamonds and distributed to<br />
jewellers. So the origin was known. But now<br />
there are other mines that have emerged so<br />
the source has fanned out to several locations<br />
and that information does not make its way<br />
96 | august-september <strong>2019</strong> | INDIAN JEWELLER
Smaller diamonds are mostly<br />
produced in India itself but bigger<br />
sizes can be imported from Belgium<br />
or Hong Kong. Earlier there was a<br />
monopoly held by De Beers and<br />
DTC, which mined diamonds and<br />
distributed to jewellers. So the origin<br />
was known. But now there are other<br />
mines that have emerged so the<br />
source has fanned out to several<br />
locations and that information does<br />
not make its way to our record.<br />
Mahesh Jagwani, Mahesh<br />
Notandas Fine <strong>Jeweller</strong>y<br />
to our record. Trends have changed now, and<br />
younger generation prefers to buy smaller<br />
wearable jewellery that is not very heavy. I<br />
cannot say that this trend will increase in<br />
future as manmade diamonds have also made<br />
a foray into the market so we will have to see<br />
how the consumer accepts these changes.”<br />
Taking initiative<br />
One out of ten consumers have knowledge<br />
or want information of sourcing of stones in<br />
the central region of India. Central <strong>Indian</strong><br />
consumers operate on the implicit trust they<br />
have on their family jeweller. Viraj Sheth of<br />
Batukbhai Sons <strong>Jeweller</strong>s, Nagpur maintains<br />
that it is important to educate the consumer.<br />
“When we are selling any type of jewellery<br />
we make it a habit to willingly educate our<br />
clients about the gemstones or diamonds used<br />
in the pieces. So if we are using emeralds,<br />
we tell consumers that it’s the water content<br />
in the stone that gives it its rich colour in<br />
turn making it more expensive. Consumers<br />
themselves are not that aware of terms like<br />
origin or mining, but we as a brand feel that<br />
if we provide these details, it will increase<br />
their trust in us and promote transparency.<br />
With the emergence of lab grown diamonds,<br />
it will be difficult to provide any origin<br />
details as they are created in a lab.”<br />
Survival of the fittest<br />
The jewellery industry is on the cusp of a<br />
major transition. Fading demand, high gold<br />
prices and increased competition can only<br />
result in the survival of the fittest. In order<br />
to not just survive, but also thrive, <strong>Indian</strong><br />
jewellers need to step up and think long<br />
term. Details such as origin of diamonds,<br />
processing and ethical mining might not<br />
seem important today, but they will surely be<br />
of grave importance in the next 10-15 years.<br />
To arm himself or herself for the future, a<br />
jeweller needs to prepare himself now.<br />
When we are selling any type of<br />
jewellery we make it a habit to<br />
willingly educate our clients about<br />
the gemstones or diamonds used<br />
in the pieces. So if we are using<br />
emeralds, we tell consumers that it’s<br />
the water content in the stone that<br />
gives it its rich colour in turn making<br />
it more expensive. Consumers<br />
themselves are not that aware of<br />
terms like origin or mining, but we as<br />
a brand feel that if we provide these<br />
details, it will increase their trust in<br />
us and promote transparency.<br />
Viraj Sheth, Batukbhai Sons<br />
<strong>Jeweller</strong>s<br />
INDIAN JEWELLER | august-september <strong>2019</strong> | 97
Store inSider<br />
Irasva- Mumbai<br />
Sleek & Modern<br />
Mumbai meets New York at Irasva’s one stop jewellery destination<br />
that features a modern aesthetic inspired by nature’s most spectacular<br />
creations. Specializing in diamond studded jewellery for the woman on<br />
the go, the newly launched store is a combination of sensory experiences<br />
and sparkling baubles<br />
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South Mumbai’s swanky jewellery store<br />
Irasva is reminiscent of the sleek and<br />
modern silhouette of New York City’s<br />
iconic Empire State Building. Hailing from<br />
New York herself, founder Leshna Shah is<br />
the creative genius behind this contemporary<br />
and modern marvel. The brand is owned by<br />
Renaissance Global Ltd. which has recently<br />
made its foray into the B2C sector, having<br />
been a leader in the B2B export sector for<br />
decades.<br />
Irasva offers diamond studded jewellery that<br />
is perfect for a weekend brunch, a casual night<br />
out or even to match with office wear. The<br />
brand caters to a confident, modern woman<br />
who knows what she wants and is not afraid<br />
of shattering glass ceilings. She is smart, well<br />
travelled and has a keen sense of modern<br />
aesthetics while keeping her <strong>Indian</strong> roots<br />
intact.<br />
The showroom is spread across almost<br />
3000 sq ft of retail area with two levels, and<br />
is designed for self-discovery set against the<br />
backdrop of world-class décor. Fluidity is the<br />
central theme of the brand which is apparent<br />
in its jewellery creations as well. Each piece<br />
has been created with an aim to provide some<br />
sort of motion and allows the diamonds to<br />
reflect maximum light. The brand promotes<br />
the idea of self love as depicted by its name,<br />
‘Ira’ meaning love and ‘Sva’ meaning essence<br />
of self in Sanskrit.<br />
The ‘S’ in Irasva stands for infinity, which<br />
is symbolic to what the brand stands for and<br />
is incorporated in the interiors of the store in<br />
various forms. With elegant high ceilings, glass<br />
windows, reflecting mirrors and high-back<br />
chairs, the store allows the customers to explore<br />
more. Irasva is designed like a contemporary<br />
temple by Fitch, a world-leading brand that is<br />
known for state-of-the-art designing.<br />
The collections include themes like Circle of<br />
Life featuring a twist on the all time favourite<br />
hoops denoting a life that comes full circle.<br />
The Skyward Bound Collection captures the<br />
memoirs of an adventurous journey towards<br />
achieving one’s ambitions. Each piece of this<br />
collection narrates a rare story that celebrates<br />
the well-deserved wings of freedom. The<br />
Scatter waltz collection defines each diamond<br />
as a moment of your life that is captured as you<br />
waltz from one precious moment to another.<br />
When seen together, these moments form a<br />
beautiful piece that is a depiction of your life.<br />
The store also features a dedicated section for<br />
occasion wear jewellery pieces that are heavier<br />
in design and more appropriate for weddings<br />
and special occasions. These pieces have been<br />
created with diamonds as well as coloured<br />
gemstones like emerald, rubies and sapphires.<br />
Another section includes a Disney Princess<br />
themed collection which has been licensed<br />
by the original Disney Group featuring motifs<br />
from various Disney characters. These are<br />
mainly targeted for teens and younger women<br />
but have been designed in a way that can be<br />
confidently worn by a woman who has a soft<br />
corner for Disney movies. <br />
Where: 67, HUGHES ROAD, GAMDEVI,<br />
MUMBAI, MAHARASHTRA 400007<br />
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The Big STory<br />
100 | august-september <strong>2019</strong> | INDIAN JEWELLER
The importance of location<br />
The Where &<br />
Why of LocaTion<br />
The way people are shopping is definitely changing. Though the<br />
omnichannel model facilitates a stronger brand presence resulting in more<br />
conversions, the sheer convenience and inventory that e-commerce gives<br />
its shoppers has changed the retail landscape over the years. And let’s<br />
face it, the economy may be down but commercial real estate is booming.<br />
Buying and renting commercial spaces is an expensive proposition and<br />
being judicial and understanding the whats, whys and wherefores before<br />
choosing a store location or thinking of opening that second store is more<br />
imperative now than before says Vijetha Rangabashyam<br />
In a company podcast, Dan Bane, CEO<br />
of Trader Joe’s, one of America’s biggest<br />
national chain of neighbourhood specialty<br />
grocery stores said, “We won’t open a store just<br />
because we can.” Half a century, an ownership<br />
transfer and hundreds of stores later, Trader<br />
Joe’s strategy remains watertight, ensconced<br />
with careful considerations of market reality,<br />
population density, average income of the<br />
people in the neighbourhood, education and<br />
other factors. In 2013, Swedish ready-toassemble<br />
furniture company IKEA decided<br />
to enter the <strong>Indian</strong> market around the time<br />
when Foreign Direct Investment rules were<br />
eased a bit. The initial plan was to set up shops<br />
in Delhi, Mumbai and Bengaluru. But after a<br />
well wisher from Hyderabad made a case for<br />
the city with thirteen strong points centering<br />
around its demographic, economic, human<br />
resource, commercial and government<br />
advantages, IKEA signed an MoU with the<br />
city. After a year, the 4-lakh sq-ft Hyderabad<br />
store has attracted over 4 million visitors and<br />
the strategy of the brand in terms of retail<br />
expansion has changed a little – they are more<br />
keen on opening smaller stores and debuting<br />
online, like they have in Mumbai.<br />
Every business is different. What worked or<br />
might work for IKEA or Trader Joe’s may<br />
not work for a jeweller or any other business<br />
owner who deals in high-value goods, but at<br />
the core of any business, location is key and<br />
the location you choose will have a great<br />
impact on the walk-in traffic, future sales, its<br />
ability to further grow and more.<br />
INDIAN JEWELLER | august-september <strong>2019</strong> | 101
The Big STory<br />
Location is very<br />
important to not<br />
only attract desired<br />
audience but ensure<br />
there is substantial<br />
Point of Sale<br />
Location, Location & Location<br />
In today’s highly competitive retail<br />
environment, especially where a majority<br />
of the companies are on survival mode,<br />
location is one of the most important factors<br />
in determining whether or not a brand is<br />
future-ready and future-proof. The primary<br />
objective of any retailer is to maximise sales<br />
and a store location is very important to not<br />
only attract the desired audience but ensure<br />
there is substantial Point of Sale (POS).<br />
“Store location actually defines the quality<br />
and quantity of footfall for any retail sector.<br />
While a store in a popular jewellery highstreet<br />
like T.Nagar in Chennai or Hughes<br />
Road in Mumbai attracts targeted footfalls,<br />
a store in a busy market area attracts buyers<br />
with diversified socio-economic profiles and<br />
interests,” says Ahammed MP of Malabar Gold<br />
& Diamonds. With a strong retail network of<br />
over 250 stores, aggressive retail expansion has<br />
always been part of Malabar’s modus operandi<br />
but location has been the driving force behind<br />
all of the store openings. “Footfall has always<br />
been a critical aspect of retail when it comes<br />
102 | august-september <strong>2019</strong> | INDIAN JEWELLER
to driving sales and enhancing conversion rate.<br />
The popularity and visibility of a store are to<br />
a greater extent determined by the volume<br />
of footfalls it attracts. So, location plays an<br />
extremely big role in driving footfall to the<br />
store. At the end of the day, quality footfalls<br />
create quality retail opportunities,” adds<br />
Ahammed.<br />
The scope of the word location, however, is<br />
broad. While it is easy to use words like “prime<br />
location” loosely, there are many nuances<br />
involved while choosing the right location<br />
for your business. “In a mature market like the<br />
U.S., where high street shopping is concerned,<br />
connectivity is really good. In India though,<br />
connectivity was poor until a few years ago<br />
and today it is mediocre. So location alone is<br />
not important, in a country like India, location<br />
with good parking is important,’ says Pratap<br />
Kamath of Bangalore based Abharan Timeless.<br />
If you have the right location, then little<br />
effort has to go into building the rest of the<br />
brand, believes Milan Shah of Surat based<br />
Kalamandir <strong>Jeweller</strong>s. “There are three<br />
important factors in any retail business.<br />
Location, location and location. If you have<br />
figured out the right location, the rest of the<br />
peripherals can be worked upon with minimal<br />
effort.”<br />
Occupational<br />
costs<br />
On an average how<br />
many consumers visit<br />
the area to shop?<br />
Proximity to<br />
residences and<br />
accessibility through<br />
public transport<br />
Amrapali, which has patronage across the<br />
world, has an interesting strategy when it<br />
comes to retail expansion. The brand has<br />
a presence in high-end, luxury hotels and<br />
standalone stores in upmarket areas. It also has<br />
tie ups with high-end brands like Goodearth<br />
(in India) and Harrods (in the UK) as it shares<br />
the same target audience with these brands.<br />
“Location is the most important factor when<br />
opening a new store. We have tried to use<br />
prominent locations for our brand. Our store<br />
in Juhu is right opposite JW Marriott and next<br />
to Starbucks. This is ideal for us as it attracts<br />
foreign consumers who could be staying at the<br />
hotel and even locals who will go to Starbucks<br />
in the vicinity. We also have a store in Taj<br />
Mahal Palace hotel which is one of the most<br />
prime locations in Mumbai. In Delhi, we are<br />
located at Khan Market, another popular area.<br />
We also have a presence at airports, which I<br />
feel is one of the ideal places to shop. If you<br />
have a layover or are waiting for a flight, you’re<br />
kind of trapped and what most travellers do is<br />
shop or eat. Even for last minute gifting, the<br />
airport is a great place to buy gifts for your<br />
loved ones,” says Tarang Arora.<br />
Location: Important Factors<br />
Costs involved in leasing/<br />
owning the area along with<br />
maintenance costs like<br />
electricity etc.<br />
Size of the<br />
catchment area<br />
Accessibility &<br />
convenience<br />
We have tried to use<br />
prominent locations for our<br />
brand. Our store in Juhu is<br />
right opposite JW Marriott<br />
and next to Starbucks. This<br />
is ideal for us as it attracts<br />
foreign consumers who<br />
could be staying at the hotel<br />
and even locals who will go<br />
to Starbucks in the vicinity.<br />
We also have a store in Taj<br />
Mahal Palace which is one<br />
of the most prime locations<br />
in Mumbai. In Delhi, we are<br />
located at Khan Market,<br />
another popular area. We also<br />
have a presence at airports<br />
which I feel is one of the ideal<br />
places to shop. If you have a<br />
layover or are waiting for a<br />
flight, you’re kind of trapped<br />
and what most travellers do<br />
is shop or eat. Even for last<br />
minute gifting, the airport is<br />
a great place to buy gifts for<br />
your loved ones<br />
Tarang Arora, Amrapali<br />
Jewels<br />
Facilities<br />
Does it have ample parking,<br />
does the area allow for<br />
enough moving around etc.<br />
INDIAN JEWELLER | august-september <strong>2019</strong> | 103
The Big STory<br />
Demographics of the core<br />
customer, area of the retail<br />
space, population of that<br />
particular area, how accessible<br />
that area is and most<br />
importantly preference of the<br />
customers – these are the main<br />
factors. So as a brand, we do a<br />
dipstick study taking all these<br />
factors into consideration before<br />
choosing any location for our<br />
store<br />
Aditya Pethe, WHP <strong>Jeweller</strong>s<br />
The first thing<br />
you have to ask<br />
yourself as a<br />
business owner<br />
is what kind of<br />
brand you want<br />
to be and more<br />
importantly<br />
who your key<br />
demographic is<br />
The Nitty-Gritties<br />
There are many questions to ponder over<br />
while choosing the location for your<br />
store. But the first thing you have to ask<br />
yourself as a business owner is what kind of<br />
brand you want to be and more importantly<br />
who your key demographic is. Mumbai based<br />
WHP <strong>Jeweller</strong>s which began its journey in<br />
1909 has come a long way with 12 stores in the<br />
city and more in smaller towns of Maharashtra.<br />
“Demographics of the core customer, area of<br />
the retail space, population of that particular<br />
area, how accessible that area is and most<br />
importantly preference of the customers –<br />
these are the main factors. So as a brand, we<br />
do a dipstick study taking all these factors into<br />
consideration before choosing any location for<br />
our store,” says Aditya Pethe.<br />
Working towards building a store in the<br />
best possible location is important but what<br />
kind of area it is has to be one of the main<br />
considerations. For Kalamandir, the entire<br />
surrounding is a major factor. “What is the<br />
market around like and what shops do we<br />
have around, not just in terms of jewellery<br />
but also apparel because every area is different.<br />
But who my neighbours are is something we<br />
really give importance to. It doesn’t matter<br />
how many jewellers are concentrated in one<br />
area, I still want to be in the thick of that<br />
competition. But if I am entering a new area, I<br />
have to do research from scratch and there are<br />
still no guarantees,” adds Milan.<br />
Pratap however disagrees, “When we sat<br />
down to decide our location, we didn’t want<br />
to be around other jewellers. Personally, we<br />
didn’t want to be seen amidst other jewellers<br />
and this is a trend now. Today, most of the<br />
large format chain stores always look for a<br />
place where other jewellers are present. A<br />
Kalyan always wants to be next to a Tanishq or<br />
a Joyalukkas. Most people believe in being in<br />
the hub and may be there is undue advantage<br />
104 | august-september <strong>2019</strong> | INDIAN JEWELLER
to that but for us accessibility and parking have<br />
been the main factors.” Abharan Timeless has<br />
two stores in Bangalore one in the heart of the<br />
city and one in West Bangalore. While the first<br />
one is on a main road, the second is located on<br />
a service road, but the ambiance and parking is<br />
great. “People don’t mind travelling the extra<br />
distance because of the convenience we offer<br />
in that branch.”<br />
Whatever the case may be and depending<br />
on your expansion strategy, thorough research<br />
and feasibility study on a particular location are<br />
fundamental. “Being an organised jewellery<br />
retail chain of both national and international<br />
repute, our brand enjoys a certain level of trust,<br />
affinity and acceptance with the jewellery<br />
buyers in the country. There are some standard<br />
factors that we still consider while choosing<br />
a location such as accessibility, prominence<br />
of that location, consumer demographics,<br />
competition proximity, location cost, strength<br />
and depth of the catchment areas adjacent<br />
to that location, etc., We are now exploring<br />
locations which can take the story of Malabar<br />
Gold and Diamonds forward. As we have<br />
embarked upon the journey to strengthen our<br />
retail presence further, we’ll choose locations,<br />
which will give us broader jewellery retail<br />
bandwidth, first-mover advantage and better<br />
return on investment,” says Ahammed.<br />
Neighbourhood is equally important for<br />
Indore based DP <strong>Jeweller</strong>s. “Surrounding<br />
atmosphere and the kind of jewellers present<br />
in a particular locality are important for us,”<br />
says Vikas Kataria.<br />
When Jalgaon based RC Bafna opened its<br />
store in Aurangabad, they chose to be situated<br />
on a highway where no other store was located<br />
within a 2 km radius. Today the location is<br />
flooded with jewellery stores. “If a customer<br />
is buying a high ticket product like jewellery,<br />
he or she has some basic expectations. They<br />
want ample parking space, someone to greet<br />
them etc. They want to take their time and<br />
don’t want to rush into it. Our stores are<br />
20,000 – 25,000 sqft big in size – so while<br />
location is important, if the customer finds<br />
experience to be more convenient then he<br />
will travel,” says Sidharth Bafna. For RC Bafna<br />
it has always been about the target audience.<br />
“You can’t think beyond a radius of 5 km. Your<br />
target audience comes from this surrounding.”<br />
Having said that he believes that with high<br />
value products like jewellery, people like to<br />
see different options. “Customers should get<br />
value for their money. When competition is<br />
close by, they have the option of hopping over<br />
to another store and looking at options. But<br />
by the same token, if your service and policies<br />
are not up to the mark, your client is going to<br />
look elsewhere for his jewellery.”<br />
Retail expansion is related to the<br />
vision and growth prospect of a<br />
brand. Sometimes, due to certain<br />
economic and market scenario, a<br />
brand re-strategises its expansion<br />
plan. But, expansion takes place.<br />
In jewellery retail, offline or brickand-mortar<br />
retail still commands<br />
significant revenue share compared<br />
to that of online retail. Because,<br />
jewellery buyers in India still prefer<br />
the touch-and-feel aspect while<br />
loosening their purse strings. So, for<br />
a brand which aspires to grow, retail<br />
expansion through opening stores<br />
makes more sense<br />
Ahammed MP, Malabar Gold &<br />
Diamonds<br />
Personally, we didn’t want to be seen<br />
amidst other jewellers and this is a<br />
trend now. Today, most of the large<br />
format chain stores always look<br />
for a place where other jewellers<br />
are present. A Kalyan always<br />
wants to be next to a Tanishq or a<br />
Joyalukkas. Most people believe in<br />
being in the hub and maybe there is<br />
undue advantage to that but for us<br />
accessibility and parking have been<br />
the main factors<br />
Pratap Kamath, Abharan Timeless<br />
INDIAN JEWELLER | august-september <strong>2019</strong> | 105
The Big STory<br />
<strong>Jeweller</strong>s love to serve their clients<br />
in a different way. We don’t want<br />
random walk-ins – and in malls<br />
people do a lot of browsing and<br />
window-shopping and we don’t<br />
want that kind of crowd, which is<br />
why we prefer standalone stores.<br />
There are not many corporate<br />
jewellers in India and the market is<br />
still dominated by family jewellers<br />
who don’t really believe in the idea<br />
of a shopping mall<br />
Sidharth Bafna, RC Bafna<br />
<strong>Jeweller</strong>s<br />
Surrounding atmosphere and<br />
the kind of jewellers present in a<br />
particular locality are important for<br />
us. What crops are primarily grown<br />
in the surrounding villages/towns<br />
is a very vital factor. We also study<br />
the potential growth of the market<br />
in the future<br />
Vikas Kataria, DP <strong>Jeweller</strong>s<br />
To Expand or not to Expand<br />
This question is relevant in today’s<br />
scenario more than ever, with economic<br />
volatility coupled with changing<br />
consumer preferences and digital disruption at<br />
its peak. With skyrocketing per sqft price for<br />
commercial spaces, companies are becoming<br />
all the more prudent in their expansion plans.<br />
In the U.S. luxury retail is adopting a different<br />
strategy and this in some cases does not reflect<br />
on their performances. Dialing back in light<br />
of a changing retail production model that<br />
focuses more on digital sales is a trend we are<br />
witnessing in the west. Ralph Lauren, Saks<br />
Fifth Avenue, Henri Bendel and Barney’s<br />
have all closed many stores. Lord & Taylor<br />
on the other hand announced the sale of its<br />
flagship store to WeWork and partner Rhône<br />
Capital. In India though while most brands<br />
are adopting a wait and watch approach given<br />
the market situation, some of them still believe<br />
in an aggressive retain expansion plan. “Retail<br />
expansion is related to the vision and growth<br />
prospect of a brand. Sometimes, due to certain<br />
economic and market scenario, a brand restrategises<br />
its expansion plan. But, expansion<br />
still takes place. In jewellery retail, offline<br />
or brick-and-mortar, retail still commands<br />
significant revenue share compared to that<br />
of online retail. Because, jewellery buyers in<br />
Dialing back in light<br />
of a changing retail<br />
production model<br />
that focuses more<br />
on digital sales<br />
is a trend we are<br />
witnessing in the<br />
west<br />
India still prefer the touch-and-feel aspect<br />
while loosening their purse strings. So, for a<br />
brand which aspires to grow, retail expansion<br />
through opening stores makes more sense,”<br />
quips Ahammed.<br />
Simply expanding alone doesn’t cut it<br />
as consumers are more conscious about<br />
quality than quantity. “Number of stores can<br />
definitely make an impact on the consumers<br />
but I feel nowadays quality is more important<br />
with quantity. To maintain and constantly<br />
upgrade the quality and venturing into new<br />
markets constantly are what make your brand<br />
a successful one according to me,” believes<br />
Aditya. Having opened many stores in<br />
Gujarat, Milan believes now is not a great time<br />
to expand, especially with rising gold prices.<br />
“Times are not good. The big corporate brands<br />
are expanding of course. But what clients<br />
want is also changing, they prefer conceptual<br />
jewellery. Big jewellers sell products and not<br />
stories. So for them it is easier to open stores<br />
as they deal with mass-produced stuff. For us,<br />
design value is important and we can’t keep<br />
expanding without thought. Even the big<br />
brands will eventually have to think of creating<br />
concept-based jewellery,” he says.<br />
Business volumes have definitely come<br />
down and with gold price becoming dearer,<br />
getting people to walk into your stores is<br />
definitely a challenge. “It is going to be very<br />
difficult for retailers to sustain. This is actually<br />
the time for consolidation with prices having<br />
gone up by 25 – 30 per cent. Proportionately,<br />
sales have also dropped. May be a year ago,<br />
expansion was the way forward but now I<br />
think we need to consolidate,” asserts Prathap.<br />
Sidharth looks at the current scenario in a<br />
different light. “People’s budgets haven’t gone<br />
up with the hike in gold price. They get lesser<br />
gold for the price they are paying today, so<br />
the volumes have decreased. The only way to<br />
make up for the lack of volumes is by opening<br />
new stores and reaching newer audiences. You<br />
can’t push your products to the same customer<br />
– you have to find new markets. So expansion<br />
is definitely the way forward.”<br />
106 | august-september <strong>2019</strong> | INDIAN JEWELLER
Metros, Tier II & III – The Difference<br />
In the smaller<br />
towns or cities,<br />
the aspiration<br />
levels are much<br />
higher. A small<br />
town family<br />
would love to go<br />
to a big city and<br />
shop<br />
Every city or town is different. Tending<br />
to each of these markets also has to be<br />
different and hence factors differ while<br />
choosing the location for metros versus smaller<br />
towns. “Metro markets are very complicated<br />
even for us to understand, which is why we<br />
haven’t really entered the likes of Mumbai yet.<br />
People from South Mumbai will not travel to<br />
suburbs no matter what. In the smaller towns<br />
or cities, the aspiration levels are much higher.<br />
A small town family would love to go to a big<br />
city and shop So if you build equity that is as<br />
good as the ones in the city, then they will<br />
come and shop in your store said Bafna.”<br />
Agriculture plays a very important role<br />
while choosing a location in smaller towns,<br />
as farmers constitute a major chunk of the<br />
clients. “Surrounding is important. What<br />
crops are primarily grown in the surrounding<br />
villages/towns is a very vital factor. We also<br />
study the potential growth of the market in<br />
the future,” adds Vikas.<br />
Times are not good. The big<br />
corporate brands are expanding.<br />
But what clients want is also<br />
changing, they prefer conceptbased<br />
jewellery. Big jewellers<br />
sell products and not stories.<br />
So for them it is easier to open<br />
stores as they deal with massproduced<br />
stuff. For us, design<br />
value is important and we<br />
can’t keep expanding without<br />
thought. Even the big brands<br />
will eventually have to think<br />
of creating concept-based<br />
jewellery<br />
Milan Shah, Kalamandir<br />
<strong>Jeweller</strong>s<br />
INDIAN JEWELLER | august-september <strong>2019</strong> | 107
Show RepoRt<br />
(L-R) Colin Shah, Evgeny Agureev, Paul Rowley, Ashish Shelar, Pramod Agrawal, Mansukh Kothari, Kirit Bhansali & Sabyasachi Ray<br />
Angel Jewels<br />
I<strong>IJ</strong>S <strong>2019</strong><br />
36th Edition of<br />
iiJS ExcEEdS<br />
ExpEctationS<br />
One of Asia’s biggest G&J shows, this year<br />
the show played host to 3000 exhibitors<br />
and had around 35,000 visitors<br />
112 | august-september <strong>2019</strong> | INDIAN JEWELLER
Show RepoRt<br />
The 36th edition of India International<br />
<strong>Jeweller</strong>y Show (I<strong>IJ</strong>S) opened in a grand<br />
manner at Bombay Exhibition Centre.<br />
One of Asia’s biggest G&J shows, this year the<br />
show played host to 3000 exhibitors and had<br />
around 35,000 visitors.<br />
The inauguration, along with the flag<br />
hoisting ceremony, saw the attendance of this<br />
industry’s crème de la crème.<br />
Present at the show were Chief Guest-<br />
Ashish Shelar, Minister of School Education,<br />
Sports and Youth Welfare of Maharashtra,<br />
Guests of Honour - Paul Rowley, Executive<br />
Vice President, Diamond Trading, De Beers<br />
Group and Evgeny Agureev, Director of<br />
the United Selling Organization, ALROSA,<br />
Chairman - Pramod Agrawal, Vice Chairman -<br />
Colin Shah, Convener (National Exhibitions)<br />
Mansukh Kothari, Co Convener - Kirit<br />
Bhansali and other dignitaries.<br />
“It is very important that we get demand for<br />
jewellery and reach new markets. The industry<br />
needs to adopt world’s ever-evolving ways of<br />
doing business. The trade needs to capatalise<br />
on the ongoing U.S. - China trade war and<br />
see how we get more business from both<br />
China and U.S. Diamonds form the largest<br />
component of <strong>Indian</strong> G&J industry and it is<br />
going through a crisis. We recently requested<br />
De Beers to increase its marketing spends. We<br />
also had long discussion with ALROSA and<br />
requested them also to pump in more funds<br />
in marketing. The council’s main agenda is to<br />
promote small and midscale businesses. The<br />
Council has set up 4 CFCs in Gujarat and<br />
more are coming up in Coimbatore, Kolkata,<br />
Maharashtra and more,” said Pramod Agrawal,<br />
Chairman, GJEPC.<br />
Speaking on the challenges faced by the<br />
diamond industry, Paul Rowley, Executive<br />
VP, Diamond Trading, De Beers Group said,<br />
“I am very optimistic about the trade even<br />
though we are facing quite a bit of challenges.<br />
Going forward we will be spending more in<br />
marketing in U.S. and gradually other markets<br />
as well. Macroeconomic challenges are<br />
impacting businesses across the world. In my<br />
36 years of existence in the diamond industry,<br />
I have not faced these kinds of challenges -<br />
with Brexit, US-China trade war and more!<br />
And the G&J industry has its own share of<br />
problems. But what is important is how we<br />
tackle all of this collectively. I have always<br />
been impressed by the shared energy of this<br />
country. We have a strong domestic market<br />
for diamonds in India and I don’t think that is<br />
something we should ignore. India is perhaps<br />
the youngest country in the world right now<br />
and millennials just like all of us are in love<br />
with diamonds.”<br />
Chief Guest, Ashish Shelar insisted on<br />
improvising skills to match international<br />
standards when it comes to jewellery. “If<br />
the responsibility of shaping and cutting<br />
the diamonds in such a way that it shines<br />
brilliantly is with the industry, ensuring that<br />
you get the right human resource for the same<br />
lies with the Department of Education. PM<br />
Modi and Commerce Minister Piyush Goyal<br />
are doing everything they can to support the<br />
trade. We are going to have a <strong>Jeweller</strong>y Park<br />
here in Maharashtra and we need good human<br />
resource who are highly skilled to make<br />
jewellery of international standards. So, we<br />
will soon open a G&J school and university<br />
where students can hone their skills.”<br />
With an additional Hall 7 that hosted 100+<br />
exhibitors, enhanced security and ease of<br />
entry, this year’s I<strong>IJ</strong>S delivered more than what<br />
it had promised.<br />
Economic slowdown coupled with gold<br />
price hitting an all-time high has certainly had<br />
its share of impact. Having said that, majority<br />
of the exhibitors believed that the show fared<br />
Shine Shilpi<br />
114 | august-september <strong>2019</strong> | INDIAN JEWELLER
Show RepoRt<br />
Dignitaries at the flag hoisting ceremony<br />
better than what they had expected.<br />
The 36th edition of gems and jewellery<br />
show welcomed the trade amidst a lot of<br />
global and domestic upheavals – markets<br />
globally haven’t been performing well and the<br />
diamond trade is going through a very big crisis<br />
that it hasn’t experienced in a while. Adding<br />
to that the price of gold has been fluctuating<br />
for a few months, leading to an all time high<br />
in the last one week. There were concerns of<br />
course amidst the jewellery fraternity about<br />
how the show would perform given all these<br />
factors – but as they say, whatever the case, the<br />
show must go on and so it did. The five halls<br />
(with the addition of Hall 7) were packed with<br />
crowds, especially on the second day leading<br />
up to the weekend.<br />
A majority of the exhibitors felt that I<strong>IJ</strong>S<br />
continues to give the industry a much needed<br />
impetus, especially now, with all the issues<br />
surrounding import duty hike and rise in<br />
gold price. While the visitor turn out overall<br />
satisfactory, with buyers attending the show,<br />
a better filtration system has been an issue at<br />
I<strong>IJ</strong>S where many end consumers were seen<br />
scouting for jewellery at the show floor.<br />
I<strong>IJ</strong>S has always been good for the domestic<br />
market. Every retailer, from small to big, from<br />
tier 2 and 3 cities to metros looks forward to<br />
the show, especially because of the ongoing<br />
buying season. Visitors from Asian countries<br />
as well as the Middle East were seen, but<br />
there weren’t too many from the likes of the<br />
U.S., Europe and the UK. However, domestic<br />
visitor attendance has only gotten better over<br />
the years.<br />
Though exhibitors received many<br />
enquiries, whether or not it will result in<br />
actual business is something only time will tell.<br />
In a survey we conducted at I<strong>IJ</strong>S, 40 per cent<br />
of the participants claimed that their business<br />
volumes have decreased by 38 per cent – this<br />
though expected, doesn’t bode well for the<br />
industry. But the upcoming festive season and<br />
the fact that there is one too many auspicious<br />
days this year have given the jewellers some<br />
kind of solace and despite the somber mood,<br />
jewellers were still hopeful.<br />
The preview day, which was created to get<br />
exclusive buyers (by invitation) to the show,<br />
has resulted in no value addition, as a majority<br />
of them believed that the preview day hasn’t<br />
really amounted to anything. Tedious processes<br />
Trident Corporation<br />
Gold Artism<br />
surrounding entry and exit continue to be an<br />
issue much to the visitors’ dismay. Complaints<br />
regarding quality of food have also been a<br />
major issue and the biggest grouse seems to<br />
be that of the floor plan – as many believed<br />
that Hall 1 didn’t get major attention this time<br />
as visitors finished their businesses in Hall 5, 6<br />
and 7A. <br />
116 | august-september <strong>2019</strong> | INDIAN JEWELLER
Show RepoRt<br />
Saaz Jewels<br />
What they Said<br />
We have been participating in the show for<br />
years and every year we look forward to it.<br />
We’ve done great business this year. Our<br />
jewellery making techniques have been greatly<br />
appreciated by our clients.<br />
Deepak Jain, Vijay Gems and <strong>Jeweller</strong>y<br />
The show was very good, with excellent turnout,<br />
although client selections were a little measured.<br />
Overall, it was a great show for us. Gold rates didn’t<br />
effect us much as we mostly work on an order based<br />
model and there is strong buying season ahead. Across<br />
all categories clients were mostly looking for price point<br />
based jewellery. <strong>Jeweller</strong>y with a good spread but low<br />
gold/diamond weights were doing very well.<br />
Sumit Kamalia, Uma Ornaments<br />
Our consumers have loved our new collection. Since<br />
lightweight is in fashion, I have stuck to that and created<br />
lightweight jewellery. Everybody has really appreciated our<br />
designs. Very happy with the show as I think even other<br />
jewellers have done well.<br />
Anand Shah, Anand Shah Jewels<br />
The show has done really well, we have had good<br />
sales and my expectation for the upcoming wedding<br />
season is very high. We were a little uncertain<br />
looking at gold prices earlier but now looking at the<br />
overwhelming response we are quite happy.<br />
Nirmal Bardiya, RMC Gems<br />
We have been<br />
satisfied with<br />
the show. Some<br />
old customers<br />
as well as new<br />
were coming in.<br />
Overall, there is<br />
a definite drop<br />
in footfalls as compared<br />
to last year. <strong>Indian</strong>s are<br />
definitely getting curious<br />
about fancy colour<br />
diamonds as we have been<br />
getting a lot of enquiries for<br />
the same.<br />
Yogendra Sethi, YS18<br />
We have been<br />
participating in<br />
the I<strong>IJ</strong>S show<br />
since 2014.<br />
Although the<br />
show has been<br />
well organized,<br />
I feel that we<br />
are still behind compared<br />
to international shows<br />
in Hong Kong or Vicenza.<br />
International buyers were<br />
very less in quantity and<br />
big players like Macy’s<br />
and Walmart were not to<br />
be seen. Many exhibitors<br />
made 50% sales but order<br />
confirmation was 30% after<br />
the show. There were some<br />
issues regarding traffic and<br />
entry and exit to the show<br />
venue that created problems<br />
for exhibitors and visitors.<br />
Sanjay Jain, Manoj<br />
Ornaments<br />
The show has<br />
been reasonably<br />
good. People<br />
are quite choosy<br />
and selective<br />
in what they<br />
buy and only if<br />
you are offering<br />
something unique and<br />
completely different, then<br />
they are interested.<br />
Abhishek Ghatiwala,<br />
Ghatiwala <strong>Jeweller</strong>s<br />
118 | august-september <strong>2019</strong> | INDIAN JEWELLER
Show RepoRt<br />
What they Said<br />
Looking at the current market situation,<br />
the show has gone well. Even though<br />
gold is expensive right now, it is a<br />
commodity that will always appreciate.<br />
Jadau, meenakari and other traditional<br />
jewellery are doing well.<br />
Praveen Agarwal, Geeta Shyam<br />
<strong>Indian</strong> jewellery market is into transition<br />
mainly due to changes in the economy<br />
in terms of GST and banking. In terms of<br />
designs there is a complete paradigm shift<br />
as pastel colours are doing well and coloured<br />
stones are being accepted. More minimal<br />
jewellery catering to the millennial bride has<br />
been popular this season.<br />
Abhishek Raniwala, Raniwala 1881<br />
Upcoming wedding season has seen a lot<br />
of jewellers looking for exceptional coloured<br />
stones to use in their jewellery. We deal in<br />
high end collector’s items that consumers<br />
love to see. Emerald, rubies, sapphires are<br />
always a favourite and there is high demand<br />
for Colombian emeralds which are selling for<br />
as high as $2000-$2500 per carat.<br />
Kamal Punjabi, T.T. Gems<br />
Innovation is important in every sector.<br />
If you don’t come out with good designs,<br />
then you are not going to get attention.<br />
When people visit our booth, first thing<br />
they enquire is about the new collection<br />
we have come out with for I<strong>IJ</strong>S.<br />
Vikas Mehta, Achal Jewels<br />
The show has brought very positive<br />
sentiments for the market. This year,<br />
we have seen more than 30,000 unique<br />
visitors. Show has concluded very well,<br />
defintely above expectations.<br />
Mansukh Kothari, Convener, National<br />
Exhibitions<br />
Highlights<br />
• 30,000 visitors attended<br />
the show through four<br />
days<br />
• 2nd and 3rd day of<br />
the show saw packed<br />
audiences with Hall 7A<br />
seeing the most number<br />
of crowds<br />
• Preview day continues<br />
to be a waste of time<br />
without any value<br />
addition<br />
• Entry and exit continue<br />
to be tedious<br />
• A versatile portfolio of<br />
international attendance<br />
is much needed<br />
• The trade has seen a<br />
30 per cent decrease in<br />
business volumes<br />
• Price in gold hike has<br />
had its impact on the<br />
show<br />
• Gold, light weight<br />
jewellery performed well<br />
• Jadau and colourstone<br />
jewellery witnessed<br />
decent enquiries<br />
• Diamonds have fared<br />
better than last year<br />
120 | august-september <strong>2019</strong> | INDIAN JEWELLER
Show RepoRt<br />
Spectrum SeminarS kept the<br />
audience in rapt attention<br />
systems. “Due to unorganized systems there<br />
are bound to be losses. I intend on setting<br />
up systems that are ownerless and the owner<br />
should not be involved in every decision.<br />
This will help process to continue even in my<br />
absence.”<br />
Narendra concluded by saying, “Consumer<br />
buying behaviour has changed. Earlier, it was<br />
based on trust by compromising on design<br />
quality. But now design is king and it drives<br />
sales.” Bhavishya weighed in by saying, “Since<br />
Mia is owned by Tanshiq, trust is a given.<br />
However, the design plays a greater role.<br />
Consumers are now asking themselves is this<br />
jewellery piece an extension of me?”<br />
The Spectrum Seminars at I<strong>IJ</strong>S <strong>2019</strong><br />
covered a wide range of topics addressing<br />
various aspects of the jewellery business<br />
including many new areas and approaches that<br />
have come into focus with the evolution of<br />
technology, marketing and the retail business.<br />
Eminent speakers were invited to be a part of<br />
the panel discussion for 13 seminars. Some<br />
of the interesting topics included GJSCI’s<br />
discussion on up skilling gems and jewellery<br />
industry, Industry Overview and How to<br />
Kickstart Cycle of Growth, What they don’t<br />
Teach you about Buyer-Seller Relationships,<br />
Bridging the Gap between Designers and<br />
Manufacturers, Tapping the Consumer at<br />
every point of their Digital Journey and more.<br />
Unfolding the Vision<br />
GJSCI organized a seminar to discuss the<br />
importance of skills and crafts manship in the<br />
jewellery industry that began as a handmade<br />
endeavor. In view of the ever-changing<br />
business dynamics, up skilling of existing<br />
work force has become an in evitable part of<br />
a company’s growth strategy. Such proactive<br />
approach would help them to remain globally<br />
competitive and keep the work force optimally<br />
motivated.<br />
Speakers Sanjay Kothari along with Rajeev<br />
Garg, ED and CEO of GJSCI facilitated<br />
those companies that have been producing<br />
outstanding jewellery creations. Sanjay<br />
Kothari, Chairman of Gems & <strong>Jeweller</strong>y Skill<br />
Council of India spoke about the importance<br />
of maintaining consistent quality of jewellery<br />
so that India remains a leader in jewellery<br />
manufacturing. “We need to give a boost to<br />
the jewellery manufacturing industry so that<br />
we can provide good quality products at<br />
attractive prices,” he said.<br />
Reshaping the Industry<br />
The seminar organised on reshaping the<br />
traditional way of doing business was a great<br />
learning experience, which included designer<br />
Pallavi Folley, Keerthana Grandhi of Vaibhav<br />
<strong>Jeweller</strong>s, Peenal Rathod of Rathod <strong>Jeweller</strong>s,<br />
Narendra Motwani of Malabar Gold and<br />
Diamonds, Bhavishya Kelappan of Mia by<br />
Tanishq and Devyani Dande of Govind<br />
Dande & Sons. The session was moderated by<br />
jewellery and watch consultant Anil Prabhakar.<br />
Pallavi began by saying, “You can no longer<br />
design for a crowd. It has to be personalized<br />
according to each consumer. Most of my<br />
creations have been inspired by my friends or<br />
family. I recently created a prayer egg which<br />
featured Gayatri Mantra for a friend who is<br />
going through a rough patch.”<br />
Keerthana shared, “Our focus is on giving<br />
a good experience to our consumers. It is<br />
created keeping consumer in mind and we<br />
expect customers to enjoy the jewellery and<br />
only if they like it they should buy.”<br />
Peenal stressed on the need for effective<br />
Bridging the Gap between<br />
Designers and Manufacturers<br />
The seminar on bridging the gap between<br />
designers and manufacturers included a panel<br />
of designers along with manufacturers that<br />
included Indra Jadwani, Hetal Vakil Valia, Ishu<br />
Datwani, Aditi Motla and Tanmay Shah. Hetal<br />
began by saying, “Today the target group<br />
for your jewellery matters a lot. Millennials<br />
are okay with paying a little more money<br />
for good designs and are more interested in<br />
experiences.” Indra shared, “Manufacturers<br />
expect designers to be creative and<br />
122 | august-september <strong>2019</strong> | INDIAN JEWELLER
Show RepoRt<br />
productive but the space to do so is very<br />
little. Manufacturers pay very low so there is<br />
no growth for the designer.” Aditi spoke on<br />
behalf of the manufacturers, “Investment is a<br />
three-way process. Manufacturers, designers<br />
and consumers are all stake holders. Ishu<br />
Datwani, Anmol, said, “A retailer bridges the<br />
gap between the designer and consumer.<br />
Designers cannot charge a premium for<br />
designing. The most important factor is the<br />
salebility of the product. Design is king.”<br />
GJEPC’s ‘<strong>Jeweller</strong>s for Hope’<br />
charity dinner donates 1Cr<br />
Pramod Kumar Agrawal, Chairman, GJEPC,<br />
hosted ‘<strong>Jeweller</strong>s for Hope’ charity dinner<br />
in the presence of Guest of Honour Paul<br />
Rowley, Executive Vice President, Diamond<br />
Trading & Distribution, De Beers Group;<br />
Evgeny Agureev, Director, Alrosa; Colin Shah,<br />
Vice Chairman, GJEPC; Milan Chokshi,<br />
Convener - Promotions & Marketing, GJEPC<br />
and Mansukh Kothari (Convener, National<br />
Exhibitions, GJEPC) amongst others.<br />
‘<strong>Jeweller</strong>s for Hope’ is a fundraising event<br />
that has been conceptualized to support<br />
destitute children and deprived people in our<br />
society. This years ‘<strong>Jeweller</strong>s for Hope’ <strong>2019</strong><br />
joined hands with GJNRF which works for<br />
the welfare of army and their families; Tribal<br />
Integrated Development and Education<br />
(TIDE), working ceaselessly for the upliftment<br />
of the poor and needy tribal people; and<br />
Shrimad Rajchandra Love and Care (SRLC),<br />
an organization working to bring about a<br />
change in the lives of the underprivileged.<br />
A table worth Rs 3 lakh each have resulted<br />
in a total of Rs 90 lakh with 30 tables being<br />
sold. GIA and De Beers were some of the<br />
leading contributors. 3 NGOs were donated<br />
Rs 33 lakh each and no money has been<br />
kept by GJEPC. Chief guest Paul Rowley,<br />
EVP, Diamond Trading, De Beers Group<br />
spoke about various CSR activities done by<br />
De Beers in Gaborone and other parts of the<br />
world. <br />
SwarovSki GemStoneS<br />
Brand PartnerS<br />
launch StunninG<br />
collectionS at iiJS <strong>2019</strong><br />
Yug by Tanvi Gold Cast - Ancient & Glitter Collections<br />
Swarovski’s Ingredient Brand Partner Yug by Tanvi Gold Cast unveiled two<br />
exciting new collections, Ancient and Glitter, both with the brilliance of<br />
Swarovski Zirconia at I<strong>IJ</strong>S <strong>2019</strong>. The Ancient Collection has been created<br />
to honour the ancient craftsmanship and handwork of former times, but<br />
the designs have now been created using the latest technology. The artwork<br />
of the Ancient collection, however, remains true to its era and retains all of<br />
its original charm. The addition of Swarovski Zirconia adds freshness and<br />
brilliance to these Yug pieces.<br />
Paul Rowley, Pramod Agrawal, Colin Shah<br />
Donating the Cheque to one of the NGOs<br />
Bhindi Manufacturers - Viraasat Collection<br />
Bhindi Manufacturers launched its new Viraasat collection created with<br />
Swarovski Zirconia. Viraasat, meaning ‘inheritance’, is a collection that draws<br />
its inspiration from ancient India’s jewellery tradition. Featuring handcrafted<br />
jewellery embellished with Swarovski Zirconia in delicate rose cut, this<br />
collection reflects India’s rich heritage of craftsmanship, a legacy still passed<br />
down through the generations. Viraasat also makes a small contribution to<br />
India’s abundant design heritage, and one that resonates with the country’s<br />
culture.<br />
124 | august-september <strong>2019</strong> | INDIAN JEWELLER
Show RepoRt<br />
Rasi <strong>Jeweller</strong>y – Blooming Collection<br />
Inspired by nature, and designed for the future, this fresh, eye-catching collection is all set to attract both the young and<br />
the young at heart consumer. For their latest collection, Rasi set out to design a range that was trendy but retained a<br />
classical touch, something that is light and easy to wear on any occasion. This collection exudes a fresh and sophisticated<br />
spirit, always enlivened by the distinct brilliance of Swarovski Zirconia. Rasi has also chosen to incorporate attractive<br />
antique colours that will have a very wide appeal.<br />
Emerald Jewel Industry – Zoe Collection<br />
Emerald Jewel Industry launched their sparkling new Zoe platinum jewellery collection with<br />
Swarovski Zirconia. Taking the Greek word for ‘life,’ Emerald has indeed injected this fresh spirit into<br />
their latest creations. The vibrant designs, the growing popularity of the white metal platinum, and<br />
how beautifully it combines with sparkling Swarovski Zirconia is a fresh approach that exudes the<br />
very spirit of the Zoe collection and will be very appealing to the younger consumer.<br />
126 | august-september <strong>2019</strong> | INDIAN JEWELLER
Show RepoRt<br />
SwarovSki preSentS DeSign conteSt <strong>2019</strong> & winnerS at gJc<br />
nite ShowcaSing extravaganza BollywooD faShion Show<br />
Bollywood celebrities Zarina Khan,<br />
Shamita Shetty and Sophie Choudhary<br />
wore winning pieces by Veera Gold,<br />
Emerald Jewel Industry, Gunjan Jewels and<br />
Rasi <strong>Jeweller</strong>y at GJC NITE organized by the<br />
All India Gems &<strong>Jeweller</strong>y Domestic Council.<br />
Swarovski celebrated some of the best and<br />
brightest in <strong>Indian</strong> jewellery design at the GJC<br />
NITE fashion show and Award Ceremony to<br />
announce the winners of the 2 Gem Vision<br />
<strong>Jeweller</strong>y Design Contest, which drew on<br />
some of the latest Swarovski Zirconia cuts and<br />
trend colours for inspiration. The presentation<br />
was made at a show-stopping event at the JW<br />
Marriott Sahar Mumbai. The occasion was part<br />
of the GJC NITE organized by the All India<br />
Gems and <strong>Jeweller</strong>y Domestic Council (GJC).<br />
Swarovski’s ingredient branding partners<br />
submitted a total of 40 designs using one,<br />
or more, of the following unique Swarovski<br />
Zirconia products: Swarovski Zirconia<br />
Rainbow Blue, Swarovski Zirconia Octagon<br />
Sun and Round Checker Board Cuts and the<br />
stunning Swarovski Zirconia Liquid Cuts.<br />
The event was attended by the country’s<br />
most important jewellery manufacturers and<br />
retailers and leading entries in the competition<br />
Shamita Shetty<br />
Zarine Khan<br />
Sophie Choudry<br />
Michelle Shetty<br />
were displayed in a glamorous fashion show.<br />
Sharing the first place were an opulent<br />
necklace by Veera Gold and a colourful bangle<br />
by Emerald Jewel Industry. Both jewellery<br />
pieces are exquisitely crafted with Swarovski<br />
Zirconia in an array of vivid colors, such as<br />
Rainbow Blue, different kinds of greens and a<br />
pop of Swarovski Zirconia Red inthe Emerald<br />
bangle.<br />
In second place was Gunjan Jewels with an<br />
extravagant neckpiece made with Swarovski<br />
Zirconiain Rainbow Blue and Arctic Blue.<br />
The third winner was Rasi <strong>Jeweller</strong>y. The<br />
company presented an elegant set composed<br />
of dangling earrings and a big necklace,<br />
which perfectly integrate the Liquid Cuts for<br />
Zirconia from Swarovski in Fancy Morganite,<br />
Spring Green and Light Blue.<br />
Entries were evaluated by a jury drawn<br />
from esteemed members of the <strong>Indian</strong> jewelry<br />
establishment: NAC <strong>Jeweller</strong>s – Anantha<br />
Padmanaban, Senco Gold & Diamond –<br />
Shaankar Sen, Bhima <strong>Jeweller</strong>s – Dr. B.<br />
Govindan, Siroya <strong>Jeweller</strong>s – Rajesh Siroya,<br />
GRT <strong>Jeweller</strong>s – Jayaraman G, Titan Company<br />
Ltd. – Beate Steinfeld, Talwar Sons <strong>Jeweller</strong>s –<br />
Anil Talwar, PNG <strong>Jeweller</strong>s – Saurabh Gadgil,<br />
Waman Hari Pethe – Ashish Pethe, Reliance<br />
Jewels – Piyush Seth, Meralda Jewels – AK<br />
Nishad, Anand Shah Jewels – Anand Shah,<br />
Khurana <strong>Jeweller</strong>y House – Prerna Arora,<br />
Ulka Gupta – Actress and Ms. Parul Chauhan<br />
– Actress.<br />
Swarovski also launched Zoe brand of<br />
Emerald at the show with a stunning showcase<br />
of never seen before platinum jewellery<br />
created with Swarovski Zirconia, the face of<br />
Zoe Michelle Shetty was the showstopper and<br />
looked totally breath taking. <br />
Necklace by TIE Veera Gold and Bangle by<br />
Emerald Jewel Industry<br />
1st prize winners - Emerald Jewel Industry and Veera Gold<br />
2nd prize winner - Gunjan Jewels<br />
3rd prize winner - Rasi <strong>Jeweller</strong>y<br />
Neck piece by Gunjan Jewels and<br />
Necklace by Rasi <strong>Jeweller</strong>y<br />
128 | august-september <strong>2019</strong> | INDIAN JEWELLER
<strong>IJ</strong> PromotIon<br />
<strong>September</strong> Gem & <strong>Jeweller</strong>y Fair<br />
A Hub for InspIrAtIon,<br />
CreAtIvIty And opportunItIes<br />
Bringing the whole world of jewellery together in one show, the<br />
<strong>September</strong> Hong Kong <strong>Jeweller</strong>y & Gem Fair is a must-attend event for<br />
industry stakeholders, decision-makers and influencers<br />
The 7-day fair offers a quality<br />
sourcing platform that connects<br />
buyers with international<br />
suppliers of diamonds, coloured<br />
gemstones, pearls, finished jewellery,<br />
jewellery technologies, packaging<br />
solutions, and tools and equipment.<br />
Alongside its clearly defined product<br />
sectorisation programme, the<br />
<strong>September</strong> Fair offers networking<br />
events and informative seminars that<br />
can help facilitate genuine business<br />
connections and collaborations<br />
among show attendees.<br />
Signature Pavilions<br />
Fine Design Pavilion<br />
• 70+ exhibitors<br />
More than 70 of the most prestigious<br />
jewellers in the world will showcase their<br />
exquisite designs, impeccable craftsmanship,<br />
and some of the finest antique and estate<br />
jewellery pieces at the Fine Design Pavilion.<br />
CORE Pavilion<br />
• 50+ exhibitors<br />
Entering its 3rd year, the CORE Pavilion<br />
will feature about 60 Hong Kong-based<br />
jewellery companies that have earned<br />
global acclaim for their brilliant collections.<br />
130 | august-september <strong>2019</strong> | INDIAN JEWELLER
<strong>IJ</strong> PromotIon<br />
International Premier Pavilion<br />
• 40+ exhibitors<br />
Presenting a constellation of world-class<br />
jewellery brands, the International Premier<br />
Pavilion will captivate visitors with its highly<br />
curated selection of fine jewellery.<br />
16 – 20. 9. <strong>2019</strong><br />
AsiaWorld-Expo • Hong Kong<br />
18 – 22. 9. <strong>2019</strong><br />
Hong Kong Convention &<br />
Exhibition Centre<br />
Fine Gem Pavilion<br />
• 70+ exhibitors<br />
Renowned jewellers and dealers at the Fine<br />
Gem Pavilion will present premium-quality<br />
diamonds, coloured gemstones and pearls<br />
coveted by legacy brands and collectors.<br />
Newly Launched Pavilions:<br />
Technology Pavilion<br />
The pavilion will be located at Mezzanine<br />
2 in HKCEC. It will feature a tech pod<br />
where exhibitors may present a wide range<br />
of industry-related applications, software<br />
programs and tools that can help manufacturers,<br />
designers and retailers grow their businesses,<br />
drive operational efficiencies and make their<br />
work a breeze all year round.<br />
Lab-Grown Diamond Pavilion<br />
The <strong>September</strong> Fair will launch a space<br />
dedicated to laboratory-created diamonds at<br />
the Lab-Grown Diamond Pavilion,at Hall<br />
1, AWE. A destination in itself, this pavilion<br />
will feature mostly loose man-made diamonds<br />
catering to customers’ various requirements.<br />
Declaration Programme on Diamond Exhibits<br />
The “Declaration Programme on Diamond Exhibits” aims to protect the rights and interests of<br />
exhibitors and buyers. Supported by the Diamond Federation of Hong Kong, Antwerp World<br />
Diamond Centre, Israel Diamond Institute and the Hong Kong <strong>Indian</strong> Diamond Association,<br />
the programme acknowledges that diamond exhibitors at the AsiaWorld-Expo, who are<br />
members of recognised diamond trade associations, and have declared that they supply and<br />
exhibit diamonds in line with “Trade Description (Definition of Diamond) Regulations” and<br />
in accordance with Hong Kong Law during the fair, will display an official poster issued by<br />
Informa Markets identifying them as programme participants.<br />
Highlights<br />
• 29 group pavilions<br />
• 25 theme pavilions<br />
• 54, 000+ buyers<br />
• 3, 700+ exhibitors from 54 countries<br />
and regions<br />
• 135,000 m2 of exhibition space<br />
• 600+ Hong Kong exhibitors exhibiting<br />
in HKCEC<br />
• 1,100+ international exhibitors<br />
exhibiting in HKCEC<br />
• 550+ exhibitors at the Diamond<br />
Pavilion in AWE<br />
• 200+ exhibitors at the Pearl Pavilion<br />
in AWE<br />
• 800+ exhibitors at the Gemstone<br />
Pavilion in AWE<br />
132 | august-september <strong>2019</strong> | INDIAN JEWELLER
Spinel<br />
Spinel is irresistible: it comes in many<br />
colours including a rare vivid red colour<br />
that rivals ruby. In fact, many of the<br />
famous “rubies” of history are actually<br />
spinel. Burmese lore says spinel crystals<br />
were “polished by the spirits” because<br />
they are often such a beautiful shape.<br />
It is known to be a symbol of power,<br />
victory and new hope.<br />
Colour<br />
Spinel comes in a range<br />
of hues – orange, intense<br />
red, pastel to vibrant pink, all<br />
shades of purple, blue and violet<br />
through bluish green. Traces<br />
of chromium cause intense red<br />
and pink colours. Orange<br />
and purple are caused by<br />
a mixture of chromium<br />
and iron. The presence of<br />
iron creates violet to blue<br />
spinel, but if cobalt is present<br />
too, it can produce a rare,<br />
saturated blue colour.<br />
Clarity<br />
Lighter colours of spinel are usually relatively free<br />
of inclusions. Saturated reds and blues are rare and<br />
sometimes included. Some spinel has interesting<br />
inclusions that reflect the gem’s octahedral crystal<br />
growth. Groups of these microscopic inclusions can<br />
resemble human fingerprints.<br />
Treatments<br />
Some spinel may be heat treated to improve clarity, but<br />
it is a stable treatment. In rare cases, spinel may also be<br />
fracture filled to improve its apparent clarity.<br />
Sources<br />
Fine large red spinel crystals, historically referred to<br />
as “Balas rubies,” were mined in central and southeast<br />
Asia. Key mining locations are Myanmar (formerly<br />
known as Burma), Tajikistan, Sri Lanka, Vietnam,<br />
Tanzania and Madagascar.<br />
To learn more about spinel and other popular gemstones<br />
visit GIA.edu/gem-encyclopedia<br />
This article is provided by GIA (Gemological Institute of America ® ).<br />
GIA.edu<br />
Learn More About GIA Education Programmes and Laboratory Services in India<br />
GIAindia.in Email: labindia@gia.edu Email: eduindia@gia.edu<br />
©GIA <strong>2019</strong>. GIA® and Gemological Institute of America® are registered trademarks of Gemological Institute of America, Inc.<br />
Butterfly Image Courtesy of: Bernadine Johnston and Buzz Gray<br />
136 | august-september <strong>2019</strong> | INDIAN JEWELLER<br />
ADT190091_India_Advertorial_Spinel_singlepg_Final.indd 1<br />
8/26/19 10:45 AM
ExpErt column<br />
Aftab<br />
Bandukwala<br />
Founder, Principal<br />
Architect,<br />
V-Design<br />
Architectural<br />
Solutions Pvt Ltd<br />
He has been<br />
involved in retail<br />
design since the<br />
early retail boom<br />
in India in the<br />
90s. He holds<br />
multi-format<br />
experience<br />
from kiosks<br />
to luxury retail<br />
spaces. He has<br />
designed stores<br />
like Tanshiq,<br />
Chintamanis, Gili,<br />
etc.<br />
DESIGN DIRECTIVE<br />
FOR A PERFECT<br />
STORE DESIGN….<br />
In this column Aftab talks about how the<br />
seamless blend of inspiration & the science of<br />
retail can give birth to a stunning design<br />
It’s hello again from me at V-Design<br />
Architectural Solutions Pvt Ltd! In my last<br />
article, I delved into how important it is to<br />
keep the sparkle in your store as much as in<br />
your ware. This time though I want to go a few<br />
steps behind and discuss some generic basics<br />
that make a good store from the perspective of<br />
design thought.<br />
Recently, I was privy to some of the coolest<br />
stores you, my friends and some of you my<br />
clients from this glittering fraternity have<br />
established in the recent past. I was most<br />
impressed to find a few such stores that had<br />
a deep design thought behind their design<br />
direction. From the root of the concept to the<br />
use of materials, from the layout to the details<br />
of the fit out, I found a seamless continuity and<br />
structured adherence to the creative vision.<br />
It’s all well to aspire to be a glamorous store<br />
that dazzles the beholder, buyer and otherwise,<br />
but to allow the design team to actually think<br />
beyond just that and employ a design direction<br />
that is more than just putting together a few<br />
(and in some cases far too many) elements to<br />
make your store look ‘swanky’ is I think a sign<br />
of mature vision that eventually reflects deeply<br />
on your brand.<br />
I will now go into a few details to<br />
substantiate my point. Some of us architects<br />
are naturally inclined to give more meaning<br />
to our design thought by seeking inspiration<br />
from perhaps the local history of the location<br />
or even a complete out-of-the-box radical<br />
ideology based on works of masters from<br />
the field of art and architecture. There are of<br />
course an overwhelming mass of our fraternity<br />
for whom ‘inspiration’ is nothing more than<br />
flicking through pages of a magazine or<br />
websites and lifting in toto, but for such of our<br />
lot, I have little to say. To me, a store that has<br />
been inspired by history or such thought, has<br />
used materials to give further definition to the<br />
inspiration, has played with forms throughout<br />
the space that continue the story, yet, all along<br />
A perfect store is<br />
one that has an<br />
original design<br />
and has used this<br />
homogeneously<br />
throughout the<br />
space in conjunction<br />
with the science of<br />
retailing jewellery<br />
Harry Winston<br />
has ensured the application of the science of<br />
retailing, is a hands down winner when it<br />
comes to the marriage of design and fulfilling<br />
your aspirations and requirements that you<br />
have of your space.<br />
This, though, is impossible if we do not<br />
have the buy-in of our client. Sometimes<br />
a client is far too limited in vision or is too<br />
cluttered of mind with bling and other such<br />
tertiary embellishments to allow us a free<br />
hand to create in the way I have mentioned.<br />
As a result, we are forced to pack that state<br />
of mind hopefully for later use and deliver<br />
the mundane. Then, you have nothing more<br />
than a putting together of fancy chandeliers,<br />
expensive marble, gilded ceilings, voluptuous<br />
pillars and wannabe Versace chairs. And,<br />
that’s how design dies. The birth of what is<br />
increasingly being considered ‘wow’.<br />
I must emphasize here that it certainly<br />
cannot all be about design and deep design<br />
thought. We are here to create a space that<br />
efficiently sells your merchandise and not<br />
our skills. There is so much by the way of the<br />
technical and the technology that is perhaps<br />
more important than just design when it<br />
comes to creating a jewellery store and it is<br />
the other extreme to forget these being so<br />
involved in creating a design marvel. Perfect<br />
lighting, time and motion studies, customer<br />
flow, staff convenience and ergonomics in<br />
general, just to name a few.<br />
So to summarise, for me a perfect store<br />
is one that has an original design and has<br />
used this homogeneously throughout the<br />
space in conjunction with the science of<br />
retailing jewellery and employing of correct<br />
technology. This ensures your merchandise;<br />
staff and customers are all in sync to the<br />
business of selling and buying jewellery. <br />
138 | august-september <strong>2019</strong> | INDIAN JEWELLER
ExpErt column<br />
Ahammed MP<br />
Chairman,<br />
Malabar Gold &<br />
Diamonds<br />
Import Duty on Gold<br />
Robbing the glitteR<br />
off the industRy<br />
The Union Budget proposal to further increase the gold import duty while toeing<br />
the government’s stated policy of curbing imports of non-essential items has<br />
put the domestic gems and jewellery sector in an extremely precarious position<br />
writes Ahammed MP, Chairman, Malabar Gold & Diamonds<br />
World’s second-biggest goldconsuming<br />
country has now<br />
imposed the highest import duty<br />
on gold. The Union Budget proposal to<br />
further increase the gold import duty while<br />
toeing the government’s stated policy of<br />
curbing imports of non-essential items has<br />
put the domestic gems and jewellery sector<br />
in an extremely precarious position. Not<br />
only 12.5 per cent import duty hike and<br />
has further pushed the domestic gold price<br />
further taking gold beyond the reach of a<br />
large section of the consumers, but it has also<br />
dealt a blow to the jewellers’ intent to become<br />
even more compliant with the taxation and<br />
regulatory matters. So, the industry as a whole<br />
is disappointed.<br />
The disappointment is more so because the<br />
soaring gold prices in the international market<br />
and narrowing of the current account deficit<br />
to 2.5 per cent of GDP in <strong>2019</strong> was setting up<br />
the context for the gold import duty cut of at<br />
least 2 per cent in the run-up to the Union<br />
Budget for <strong>2019</strong>-20.<br />
The jewellery retail sector has been<br />
smarting from shrinking business volumes<br />
mainly due to a moderation in economic<br />
growth and higher gold price. Add to that, the<br />
severe liquidity crunch the jewellers have been<br />
facing ever since the bank credit to the sector<br />
started declining in absolute terms after some<br />
murky dealings at a state-run bank became<br />
public. On top of it was the higher import duty<br />
on gold which has been, and is, giving a field<br />
time for rogue elements to illegally ship gold<br />
into the country and sell it in the grey market<br />
which has been witnessing a steady decline.<br />
This has tipped the scale against taxpaying and<br />
compliant players in the gems and jewellery<br />
trade since the grey market could once again<br />
rear its head by selling finished products at<br />
a hefty discount and chip away substantial<br />
volume from the legal business.<br />
Time and again, various industry<br />
representation has made it amply clear to the<br />
authorities concerned that gems and jewellery<br />
industry should be spared from the duty<br />
burden so that the government could reap the<br />
benefits of higher tax revenue from increased<br />
sales of legally run business and eliminate<br />
illegal shipment of gold into the country .<br />
A stimulus to the illegal shipment of gold<br />
into the country will further hurt taxpaying<br />
players in the segment. So, the recent import<br />
duty hike sends a disconcerting signal to the<br />
industry.<br />
From business point of view, import duty<br />
hike on gold from 10 per cent to 12.5 per<br />
cent will prove a double whammy for the<br />
gold retail industry, a segment which is critical<br />
for generating the much-needed jobs for the<br />
economy. This is because, on the one hand, it<br />
will lead to a substantial increase in the input<br />
costs of the industry sending the retail prices<br />
up thereby hitting sales. Before the budget,<br />
import duty of 10 per cent and GST of 3<br />
per cent was levied in gold and the total tax<br />
impact amounted to 13 per cent. Given the<br />
changed scenario, the tax calculation is likely<br />
to go up to 15 per cent. <strong>Jeweller</strong>s are not<br />
prepared to absorb the additional tax<br />
burden and the end- consumers will<br />
end up bearing the brunt. As the<br />
festive purchase is just months<br />
away, the import duty hike<br />
will not go down well with<br />
the retailers. Duty hike is a<br />
trade-sentiment dampener.<br />
So, the government<br />
ought to step in with<br />
policies to support a<br />
sector which can play a<br />
vital role in supporting<br />
industry growth and<br />
creating jobs in thousands, if not in lakhs.<br />
The sector contributes to around 7 per cent<br />
of the country’s GDP and 15 per cent of<br />
total merchandise exports. It employs over<br />
4.64 million workers and is expected to add<br />
another 8.23 million by 2022. And the lion<br />
share of gold ornaments manufacturing and<br />
diamond polishing (approximately 70 per<br />
cent) happen in the tiny, small and medium<br />
industry segment. These facts and figures<br />
amplify the importance of the segment and<br />
its vital role in stepping up economic growth<br />
accompanied by jobs as well as its critical<br />
importance in revving up small scale sector.<br />
Therefore, if the decision to impose higher<br />
duty on gold is not reversed, it will push such<br />
a critical segment of the gems and jewellery<br />
industry to the brink of closure. Gold has the<br />
ability to play a key role in the <strong>Indian</strong> economy.<br />
Its hedging ability against all uncertainties<br />
is an established fact. Hence, a transparent<br />
jewellery retail market and stable gold policy<br />
framework will help gold in rediscovering its<br />
true glitter. <br />
140 | august-september <strong>2019</strong> | INDIAN JEWELLER
ExpErt column<br />
Gunjan Suri<br />
Founder &<br />
Creative Director,<br />
Gunjan Suri<br />
Couture Jewels<br />
BROAD STROKES<br />
Design to Perfection<br />
In this column Gunjan takes a critical approach to the term design<br />
scape , evaluating the characteristics of design at a very basic level,<br />
thus making a conscious effort in changing the face of design<br />
In this article we will discuss how can one<br />
achieve an ideal designscape (derived from<br />
the word landscape) in their work wherein<br />
the designer can work on certain skills to<br />
enhance an extensive view or representation of<br />
the design. In simple terms it usually signifies<br />
a culmination of various characteristics that<br />
help in design building and it also means that<br />
one needs to pay acute attention, as to how<br />
one can play with various elements.<br />
• Dynamic play of various elements actually<br />
helps in establishing a visual impact in the<br />
design periphery. It usually arises when the<br />
designer makes a conscious effort to bring<br />
about a contrast with elements like colour<br />
.for e.g., it could also be created with a<br />
kinetic movement in a particular piece , in<br />
fact that could be an added feature to create<br />
a dynamic effect.<br />
• Creating surprise elements in a piece can<br />
actually create drama and intrigue the<br />
consumer at a mega level. Imagine a ring<br />
that opens up and there is an added feature<br />
or design flavour that is unique on the<br />
inside. Another example could be a pendant<br />
that is unique on both sides.<br />
Ariadni Kypri<br />
• Arrangements of design elements like forms<br />
and shapes carry a certain weightage , the<br />
outcome of a design can be altered by simply<br />
changing the arrangement of elements, for<br />
e.g. a simple way to understand this is how<br />
when we change a symmetric arrangement<br />
in a design to a asymmetric one the result is<br />
different .<br />
• Synchronization – on the one hand when<br />
the synchronization effect is assessed<br />
by making sure all elements used are<br />
in harmony it creates pleasing aesthetic<br />
content, on the other hand when the<br />
elements are not in harmony it usually<br />
brings a differentiated flavour to design.<br />
One can decide depending on the line<br />
of jewellery they make, for classic jewels<br />
the first option is preferred and for jewels<br />
that are meant to create a buzz the second<br />
option would be ideal.<br />
Maarja Niinemägi<br />
Play of these characters can actually bring<br />
or add flavour to the designer’s spectrum;<br />
it helps in identity formation, creates<br />
aesthetic markers, and actually brings about<br />
a regeneration of design. Paying attention<br />
to minor details in order to achieve an ideal<br />
design canvas can lead to creating a brand<br />
identity. To overcome the challenges faced by<br />
designers, the only way forward is to enhance<br />
the usage of design elements. <br />
INDIAN JEWELLER | august-september <strong>2019</strong> | 141