05.10.2019 Views

Indian Jeweller (IJ) Magazine August -September 2019

Volume 10 | Issue 1 August September 2019

Volume 10 | Issue 1
August September 2019

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

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 />

Single Copy: 300<br />

Annual: 1500<br />

Overseas: US$ 150<br />

Administrative Office:<br />

‘Journal House’, A-95 Janta Colony,<br />

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 />

Unit No 19, Ground floor,<br />

Vasan Udyog Bhavan, opposite Phoenix Mills,<br />

Sun Mills Compound, Lower Parel (West),<br />

Mumbai - 400013<br />

Phone- (022) 26756055/66<br />

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 />

Like us on Facebook<br />

@indianjeweller<br />

FoLLow us on twitter<br />

@<strong>Indian</strong><strong>Jeweller</strong><br />

FoLLow us on instagram<br />

indian_jeweller<br />

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 />

86 | august-september <strong>2019</strong> | INDIAN JEWELLER


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 />

88 | august-september <strong>2019</strong> | INDIAN JEWELLER


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 />

94 | august-september <strong>2019</strong> | INDIAN JEWELLER


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 />

98 | august-september <strong>2019</strong> | INDIAN JEWELLER


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 />

INDIAN JEWELLER | august-september <strong>2019</strong> | 99


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

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!