Young Titans & Game Changers…….
For this issue, the IIJS Signature special, team FLOROSCENT introduces you to some of the young and emerging Titans and Game Changers from the gems and jewellery industry. These go-getters have overcome all odds, taken bold steps to change the way jewellery business is run, from family run to professionally managed entities and excelled in what they do.
In the interviews conducted, we asked them about whether they wanted to join the family business, the difficulties they faced, how did they manage to overcome them, their inspiration and their aim. The answer to the family business was on expected lines, everybody wanted to join the family business not because it was already there or they wanted to sit back and reap the benefits but for the fact that they were passionate about it, they wanted to take the business to greater heights from being just a family run business to professionally managed entity. The common thread that binds these leaders is the passion to see their family enterprise prosper and establish their name not just in the country but also in the international market. Most of them with sheer hard work, determination, diligence and their never give up attitude have been able to achieve that, almost all the family run business whom we spoke to have a robust export division. Failures and setbacks have been the biggest teachers for these entrepreneurs.
Their success after their struggle is inspiring, their thoughts about the jewellery industry is inspiring and is reassuring that the industry is in safe hands. These young men believe in transparency, quality and customer satisfaction. The achievers are unanimous in their thought that the jewellery industry is undergoing tremendous transformation. They all feel that negativity associated with the industry will dispel ones it gets organized and it would be easier to do business after GST is introduced.
Armed with passion, grit and ambition they are certain that jewellery and jewellery industry is here to stay. No matter what the trend may say, they are confident that the love for jewellery will never wane away. However, they are of the opinion that jewellers should not take their customers for granted and should keep innovating, experimenting with new designs and settings. They should be in tune with what the customers want.
Under the leadership of Rajesh Lakahani, Kiran Gems has been transformed and emerged as a true global corporation that today it is. To his credit goes the conceptualization and starting of a whole new certified diamond product category for Kiran group.
Dedicated, driven, decisive are the words that describes the dynamic Rajesh L Lakhani, Director, Kiran Gems Private Limited. In his two decades plus journey in the industry, he has seen many changes and faced many challenges. All through it, he has remained calm and steadfast steering his company towards greater heights.
Rajesh Lakhani was focused on joining the family business right from the beginning. In 1993 he started off as a trainee in the family owned business the erstwhile Kiran Exports. He was groomed across all major functions of the business from understanding rough, its manufacturing, assortment of polished diamonds of all size categories and sales function of domestic and international market. The hands-on approach and exposure to all the departments and working of the company equipped him with the essential knowledge and leadership quality to serve the position as head of global marketing, sales and distribution of loose polished diamonds and certified diamonds lately. Lakhani also looks after the planning, developing and managing global marketing, sales and distribution of polished diamonds above 18 pointers and certified diamonds. Apart from it he takes personal interest in managing customer relations and services.
Planning, strategizing and implementation are the strong point of Lakhani. Under the leadership of Lakahani, Kiran Gems has been transformed and emerged as a true global corporation that today it is. To his credit goes the conceptualization and starting of a whole new certified diamond product category for Kiran group. Lakhani is instrumental in IT integration in all major functions of the company resulting in higher functional efficiency of various departments. He also brought in branding and marketing philosophies for the diamond division of the group. It he who spearheaded the planning and implementation of CRM techniques for the company. The changes introduced over the years have made Kiran Group a name to reckon with in the global diamond industry.
Lakhani is a people’s person, he knows how to handle people. This quality has helped him especially during the lows, as his staff and colleagues have stood by him through his various initiatives. Like a true leader, he believes in constant upgradation of knowledge through observing, learning and training.
Amer, was inspired by the architecture of Rajasthan. To take a pillar as a muse, and replicate its design on jewellery meant knowing the proportions and sizes of that pillar and carving it on jewellery in a way that it looked absolutely flawless and relate-able. With a lot of hard work especially on the technical front, we overcame it and the collection still remains one of the most loved by wearers
Fashion worlds’ loss is jewellery industries’ gain. Accidental enrolment for the jewellery designing course at GIA, sparkled the interest in jewellery for Yash Agarwal, Creative Director, Birdhichand Ghanshyamdas Jewellers, Jaipur. Since then the scion of Birdhichand Ghanshyamdas Jewellers has taken the legacy of his company forward through quality, honesty and dedication. He aims take his company global in two years’ time.
Coming from a family of jewellers, the dynamic and creative Agarwal was not inclined into joining the family business. “I wanted to make a mark in the world of fashion but destiny had other plans for me. I realized my true calling after accidentally enrolling for jewellery designing course at GIA,” says Agarwal. He did not just do a course but excelled in it, won couple of awards which convinced him that jewellery designing was his forte. After that he started training in his family’s jewellery business. He started off by learning the nuances of business he started dealing with craftsmen and then started developing his own designs. Since then there has been no looking back, every collection from Birdhichand Ghanshyamdas Jewellers stands out and mesmerizes its customer. “Apart from jewellery designing, I love to travel. From every trip I make, I learn something new, I find themes and beauty everywhere which I translate into every jewellery collection that Birdhichand designs,” says Agarwal.
“It was not easy to bring in change to a brand that is a century old and has been holding on to its legacy with grace and consistence. In accordance with time I wanted to add a touch of innovation in the jewellery collection and initially it was a huge challenge,” says Agarwal. As a designer, he had to convince people and execute his ideas into jewellery, however his persistence paid off and he could translate his thoughts into jewellery. The Amer Collection from Birdhichand is his all-time favourite as he had the difficult task of transforming the architecture of Rajasthan into a jewellery piece. He explains, “Amer, was inspired by the architecture of Rajasthan. To take a pillar as a muse, and replicate its design on jewellery meant knowing the proportions and sizes of that pillar and carving it on jewellery in a way that it looked absolutely flawless and relate-able. With a lot of hard work especially on the technical front, we overcame it and the collection still remains one of the most loved by wearers”.
Keeping Pace with Time
Customers preferences and buying patterns are changing rapidly. Jewellery now has to compete with other luxury items. Many jewellers are losing the race but not Birdhichand Ghanshyamdas Jewellers. They are in tune with the trend and have something new for the customers. “There has never been a time when we haven’t kept in pace with the changes, in fact we have been ahead of time in terms of our designs. Also, the key to always be ahead is innovation. I have learnt to excel by bringing something new in our designs,” says Agarwal.
Craftsmanship – The Real Strength
Agarwal gives credit to their craftsmanship behind the popularity of the jewellery. “Our strength is craftsmanship, traditional jewellery, experiments with precious and semi-precious stones and innovation. We have been pioneering in a lot of things like bringing Kundan Meena into mainstream, having our jewellery designs inspired by architecture of Rajasthan, bringing in a fusion of traditional and contemporary, combining polki with colored stones, etc.”
Message for Next Gen
“Experiment and dare to design something that has never been tried before. But hold on to your strength, quality and heritage and never fall for the temptation to replicate others’ designs as replication is short-lived and original stays forever,” says Agarwal
Emotions create a conflict against the best decision for business at times. Yet, we worked hard towards bringing the change and getting each BVCite excited about the new journey we embarked upon and we’ve been growing aggressively since the buy-in came from each BVCite.
Bhavik Chinai, Director, BVC Ventures in his own words is a workaholic. His passion is his work and without even realizing puts in 14 hrs of work daily. However, it is not all work for this young and dynamic, go getter who dreams of taking BVC Ventures global. Sundays are for him to unwind and indulge in driving, reading, shopping and playing soccer.
Bhavik Chinai, Director, BVC Ventures was interested in his family business and had plans to learn operations across all levels and to professionalize each company and then take up the challenge of creating his own identity. He started understanding the working of various departments and operations in each state of India right from his college days. In 2013 he joined the company full time and brought about changes in the company. The company quadrupled in size and the role of family members has evolved from being decision makers in day-to-day operations to operating on the board in most entities.
Not satisfied with what he had achieved and the urge to start his own venture lead to the formation of Vamaship in 2015…….
Challenges and Opportunity
Like any other corporate business, family business also faces challenges and hardship but one problem unique to family business is involvement of emotions. “Emotions create a conflict against the best decision for business at times. Yet, we worked hard towards bringing the change and getting each BVCite excited about the new journey we embarked upon and we’ve been growing aggressively since the buy-in came from each BVCite.” Apart from emotional conflicts he had to face various operational challenges as they expanded from eight cities to thirty. “We set up new offices in cities with no direct presence in the past, we faced many cultural and process related challenges. The learning helped immensely.”
Keeping Pace with the Fast Changing Environment
Time, customer preferences, business environment everything is undergoing a dramatic change and BVC Ventures is right there matching the pace. The company is focusing on automating manual tasks to improve efficiency. “Apart from using enhanced technology, our niche logistics offering is under a thread of commoditization and we’re working on creating unmatched value adds for customers and improving cost efficiency,” says Chinai. The company aims to be a multinational and a market leader by a fairly larger margin in the next two years.
Failure the Best Teacher
Failures means a lot of things to a lot many people but for Bhavik Chinai it means learning. “I saw many failures. We worked on several service offerings which didn’t progress as expected, an ERP implementation failure, severe people challenges and many operational failures. We internally don’t call them failure, it’s either success or learning. The learning has been great and we’re improving and growing so quickly only due to these failures. We love failures and promote it across the company as that’s the only way we’ll innovate at all levels.”
Message for Next Gen
Despite not being directly in jewellery business, I see a great potential in next generation of jewellers. I strongly believe that Indian jewellers can go global. “We have unmatched strengths in manufacturing, and the number of Indian global brands will grow larger only with the next gen in jewellery,” says Chinai
My strength or rather the company’s’ strength is the vast manpower we have. Our employees are the foundation of our business. We do not utilize this resource, rather we satisfy them. A happy employee makes a happy and profitable organizations.
Piyush Patel, Director, Dharmanandan Diamonds with his sheer grit and hard work has taken the family business to altogether different heights.
Patel literally grew up surrounded by diamonds and has always been passionate about the family business. “There was never any doubt regarding my choice of career, I was keen on joining the family business and started helping out my father and brother at an early age.” He started off by sitting alongside the workers in his father’s workshop. This exposure led to his understanding about diamonds in minute details which further fueled his fascination with the stone. There was no looking back from him. From sitting at the workshop to being the director of the companies’ global sales and marketing Patel has come a long way.
Challenges & Changes
Patel entered the family diamond business formally in 2003. The business is right now handled by second generation of Patel family to which Piyush belongs. “We work as a team, the entire family looks after various aspects of the business and there is collective responsibility, I can’t take credit for any particular change that the company has undergone or has implemented,” says Piyush. However, it is true that since the time he joined the business he has been looking after the global sales and marketing part of the business. Under his guidance, the company has expanded to various regional zones in the last decade which has given the company competitive benefit over others. “We expanded our business at the right time, the hard work and calculated risk taken at that time is paying rich dividends now,” adds Patel.
Keeping Pace with the Changes
Patel believes that change is part of business and an astute business man should always think ahead and try to judge which way the wind will blow. He says, “One should realize that trends and demands keep changing and a business house should always be prepared to face it. There should be a plan in place and should be aware about the trends and study the forecast.” He adds, “Also it is not necessary to change yourself as per every trend and at times certain trends are short lived, so here experience and business sense comes to the rescue. “
Manpower the Backbone
Attributing the success of the company to its manpower, Patel says, “My strength or rather the company’s’ strength is the vast manpower we have. Our employees are the foundation of our business. We do not utilize this resource, rather we satisfy them. A happy employee makes a happy and profitable organizations.”
Message to the Next Generation
Since the inception of diamond manufacturing in India, there were continues developments took placed. Technological advancement is the greatest followed by education, marketing strategies and labor empowerment. Now is the time of knowledge. As much you know your product and business, the more you can pass it on and continue the legacy. In Two years’ time…I believe in sustainability of our business. We planned to grow gradually as we did in last five years.
When you do new things, failure is a part of it. But then for business to grow and prosper one has to take calculated risk. This may slow down one’s pace, but in the long run every risk taken, every failure faced helps in growth.
Anish Birawat, Director, Chain N Chains Jewels Ltd., is a man who believes that learning is a continuous process. His astute business sense and ability to focus on the goals and executive them has taken Chain N Chains Jewels to newer heights.
Right from the beginning Anish Birawat was clear on joining the family business. At the same time, he also had dreams and ambition to take the family business to newer greater heights. “Family business was always a priority. But venturing out for growth and seeking new opportunities was and is always an open option,” says Birawat. He was groomed to enter the business right from an early age. He enhanced that hands-on experience through various professional course like management studies, gemology and other trainings which would help him in the business.
In the last thirteen years that Birwat has been in the company, he has faced many challenges. He made some calculated moves to expand the business and brought about changes in the working of the company. “We have made our presence felt pan India and entered into retail. We have also started diamond jewellery and silver jewellery manufacturing unit.” He considers it to be one of the best phase for the company’s as well as personal growth as there was lot of learning happening. However, he believes that there is more to come, more to achieve and he is focused in achieving them.
Keeping Pace with the Fast Changing Environment
Birawat believes that change is the only constant and strives to understand changing customer preferences. “We have expanded our product portfolio dramatically to accommodate the changing likings and this is a continuous process. We make sure that we offer most innovative services and creative solutions to our customer which in turn helps them to offer better products to their customer,” says Birawat.
Failures and Challenges Lead to Growth
Adaptation to customer’s needs, trust and technical Innovation has always been key factors to drive growth. Chain N Chain goes beyond its limits to deliver what the customer desires. This results is 100% customer satisfaction but in the process one has to face failures too. “When you do new things, failure is a part of it. But then for business to grow and prosper one has to take calculated risk. This may slow down one’s pace, but in the long run every risk taken, every failure faced helps in growth,” avers Birawat. The biggest challenge in Jewellery Industry is to grow and manage it in an organised way. Birawat feels it’s time to shape up. Industry has gone through a really challenging phase. We all are working to see Industry really shaping up in more structured format and it’s time our companies go global.
Message for Next Gen
We are the next generation. It’s time for us to look at and do unconventional things. Bit by Bit. There are lot of untapped opportunities which has tremendous scope to grow 100x in coming times. We should be open to learn and adapt. Do listen and take care of all stakeholders – customers, suppliers, colleagues, workers, karigars and the industry at large. It is time to join hands and grow together.
In my short yet eventful journey as a jewellery manufacturer, I have learned to keep pace with the changes, keenly observe the changing lifestyle of the present and the next generation, keep a watch on the changes that come up in marketing strategies. Every change creates new demands, which gives us an opportunity to create new trends.
Harit Zaveri, Director, RBZ Jewellers Pvt. Ltd., Ahmedabad believes, ‘Change is difficult but not impossible’. With this mantra, in less than a decade, he transformed the way his company functions and took it to new heights.
Always the Family Business
Harit Zaveri, was very clear in his mind, he wanted to join his family business. The love for his business made him a keen observer of the working and involved himself in one capacity or the other right from his school days. “I was very keen on joining the business, implement the ideas I had and take it to the new horizon. I did courses to enhance my skills and understanding of the business,” says Zaveri.
Expansion & Challenges
In the last eight years, since Zaveri joined the business, RBZ Jewellers has ventured into new territories. Earlier its focus market was North India but slowly and steadily it made inroads into the Sothern states of the country. “We took the daunting and challenging task of exploring new markets, clients, export houses,” says Zaveri. He adds, “It was just not expansion, we brought about changes in the way we functioned. We upgraded ourselves with new technology, new machinery and have built up a new manufacturing unit which can accommodate 100 karigars. Realizing the importance of design, we have also developed a highly efficient and creative design team.” Zaveri admits that it was not easy to execute changes, however he persisted and it has now paid off. “Initially it was a huge challenge to execute the changes, however eventually they did happen and it paid off too. We invested in manpower, created and assigned different departments to the right person and overcame the biggest challenge a jeweller faces: Designs. We created a special design team which has been highly successful in coming out with unique jewellery.”
Change is the only Constant
Change is inevitable and it is not necessary a bad thing thinks Zaveri. “In my short yet eventful journey as a jewellery manufacturer, I have learned to keep pace with the changes, keenly observe the changing lifestyle of the present and the next generation, keep a watch on the changes that come up in marketing strategies. Every change creates new demands, which gives us an opportunity to create new trends,” says Zaveri. RBZ is ready for any challenges under the able leadership of Zaveri as they have executed ground level changes in the way they work. He adds, “We have also incorporated latest technology and have added many new categories in our collection ranging from light weight jewellery to heavy bridal sets. We are ready for what the market demands from us.”
In the next two year RBZ, plans to introduce more jewellery categories, explore and expand into new territories and hold strong to its roots.
Message for the Next Gen
Always endeavour to provide best quality, services to your end users. We need to hire highly educated people in our industry to take it to next level. We need to nurture skilful craftsmen, use latest technology and to take up business to e-commerce using better ideas.
We believe in systematically working on growth using advanced technology. We brought in professionalism in business transaction, laid emphasis on product innovation and brand building. Doing all these was not easy, but we persisted and along with hard work and sincerity we could overcome challenges.
Jugal Choksi, Director, Junagadh Jewellery Pvt. Ltd., believes that his dedicated team and the collective vision for the company is the driving force behind the success of his company.
Choksi wanted to join his family business and steer it towards the global market. In the past 16 years with his methodical and hands on approach he has been able to achieve his dreams. After having joined the business he realized that there were many changes to be made, things to unlearn and incorporate new ideas.
Challenges and Changes
There were many challenges and Choksi not only accepted it but overcame them to establish a name for himself and the company in the jewellery industry. “We believe in systematically working on growth using advanced technology. We brought in professionalism in business transaction, laid emphasis on product innovation and brand building. Doing all these was not easy, but we persisted and along with hard work and sincerity we could overcome challenges,” says Choksi. Junagadh Jewellery has launched ‘Bariki’ brand of jewellery which is highly popular with the customer. Bariki Jewellery. small. beautiful. stunning. A brand dedicated to designer jewellery lovers. Small in size, big on impact. The brand has 33 distributors, available in more than 700 showrooms in nine states of the country. Not resting in the success, the team under the leadership of Choksi is constantly working on planned strategy to achieve the next milestone.
Failure the Biggest Teacher
“One should not fear failures, they lead to success,” says Choksi. He adds, “ Even we made mistakes, we launched wrong products at the wrong time, but all these were lessons. From them we learnt to research, strategies and implement the plans at the right time.”
The Bariki Brand is doing well, and is already in great demand in certain parts of the country. Now Choksi plans to make his presence felt pan India. “In next two years, I want to expand to rest of the country, the domestic market has great potential and we want a share of the pie.” He also firmly believes that industry should work on product brand instead of company’s name .
After the production aspect was taken care of, we started visiting trade shows all over the country. As I was always inclined towards export I started visiting international trade shows and foreign countries. Our orders started increasing and our confidence grew.
Nitin Agarwal, Partner Meenakshi Jewellers, Hyderabad a first generation jeweller, with his sheer dedication, hard work and vison has taken his company to new heights within a decade. From a novice to an award -winning manufacturer, the journey of Agarwal has been full of learnings.
Venturing into Un- known Territory
Nitin Agarwal, comes from a family of businessmen who had no connection with the jewellery industry. The family was into textiles, they already had a well-established, reputed and thriving textile business. Agarwal after completion of his studies decided to venture into unknown territory. He says, “Our family business was doing well, my brothers were already into it. I worked in the company for seven-eight months and realized that I was not adding value to the company. There were already highly experienced people working in it. As a family, we realized the need to diversify and started looking at other options. Unlike the general perception, we zeroed into jewellery manufacturing, we thought that it would be least risky business to enter. We could start small and if it worked we would expand or else we could look for other options.”
Even if he did not belong to the jewellery industry, Nitin Agarwal and his elder brother Rajnikant Agarwal knew how to run a business. So, they got into knowing and understanding the basics of jewellery industry. Agarwal even went ahead and did a course on gemology to prepare himself. “We started off by visiting jewellers, found out the kind of jewellery Hyderabad is popular for, sat with the karigars in their workshops and studied the market thoroughly. Then we set up a small office with five karigars, we learned from them and after six months when we were confident enough we got in some machinery, hired more people and from there on gradually we increased the production,” says Agarwal. He adds, “After the production aspect was taken care of, we started visiting trade shows all over the country. As I was always inclined towards export I started visiting international trade shows and foreign countries. Our orders started increasing and our confidence grew.”
Near Failure To Success
On the verge of giving up the venture and then turning around the business are the stuffs movies are made of. But that is exactly what happened with Meenakshi Jewellers. “After one and half year of starting, we decided that jewellery manufacturing was not for us as we were making big time loss. We decided to wind up and move back to textile. However, we had already registered for a show and we decided to do it and then wind up,” says Agarwal. He adds, “We decided to give our best shot to what we thought it to be our last trade show.” That show changed the destiny of Meenakshi Jewellers. It was the time when gold rates were appreciating, Agarwal came up with a strategy to launch jewellery with highest quality gemstones. Their stock was highly appreciated and almost all the retailers from Chennai placed orders. “What we learnt from the show was that quality product is highly appreciated and the jewellery industry is much larger than what we had earlier envisaged,” says Agarwal.
Mantra for Next Gen
Precious jewellery will never go out of fashion believes Agrawal. “Whatever the trend maybe, a lady will always want to have gold jewellery with her, so forget the fear of gold losing its shine concentrate on being an organized player delivering quality goods and innovative designs,” says Agrawal.
It might feel that the new generation is not interested in precious jewellery but we should give them the right product, the kind they can relate to. Keeping this in mind we have started manufacturing western designs, which are minimalistic, platinum jewellery and jewellery in Italian designs.
Under the leadership of Pramod Mehta,Director, Shilpi Jewels has ventured into new territories and has made its presence felt across the country. The company now is one of the leading manufacturer and wholesaler of quality gold and diamond jewellery.
Shilpi Jewels was started by Mehta’s maternal uncle and he was a part of it right from the beginning. The duo started off by learning the ropes of the industry and then finally started their own manufacturing unit. “To gain experience and understand the pulse of the customer, I worked in a retail showroom for a year. This experience gave me insights into the customer’s mind, their preferences,” says Mehta. He adds, “We were clear from the beginning that we would enter into manufacturing and wholesaling as there was relatively less competition and hence was more lucrative.”
Mehta and his uncle changed the way the manufacturing business worked. “We introduced new designs, patterns. We brought in platinum and started manufacturing antique jewellery. We started branding our jewellery which led to customers trusting our brand, the development of a brand helped us in marketing our product,” says Mehta. He adds, “We understood the importance of trade shows and started participating in them, earlier we had neglected this aspect. We also started giving importance to marketing and we launched the Signature Collection which comprised of Bombay, Calcutta, Machine, Platinum jewellery.”Mehta realized that his customers were mainly from Western part of the country, he felt for the growth of business, they should have pan India presence. He says, “When we realized that customers from North India don’t come to us, we decided to go to them. We opened two offices in Delhi and now we have more than 10 offices all over the country.”
Keeping Pace with Time
Whatever the trend may be, gold jewellery will always be in vogue believes Mehta. “Indians have an affinity for gold, it is just not used as an ornament but also gives security. People convert cash into gold,” says Mehta. He adds, “It might feel that the new generation is not interested in precious jewellery but we should give them the right product, the kind they can relate to. Keeping this in mind we have started manufacturing western designs, which are minimalistic, platinum jewellery and jewellery in Italian designs.”
Mehta had the vision of seeing Shilpi Jewels product in every market of the country and with sheer hard work and dedication he was able to achieve it. Now he plans to go international. “At Shilpi every jewellery crafted is an expression of passion and art and in next two years I hope to take this passion to International market and make it a name associated with fine craftsmanship and design.”
Before joining the family business, I knew that the industry was unorganized both in the manufacturing and retail side, I had my apprehensions regarding this however when I finally joined the business in 2010, I realized that the things are changing, people are moving towards being more organised, chain stores had started coming up and I understood that to work with these chains, we too had to be organised.
Viraj Thadeshwar, Director Shringar House of Mangalsutra dared to dream. With his hard work and dedication, the company has transformed into an organized player with a strong online presence and robust export division.
Although Thadeshwar studied advertising and public relation, he was not keen on pursuing it as a full-time job. He wanted to utilize his knowledge to take his family business to greater heights. He started visiting trade shows to understand how the industry works before joining it. “India International Jewellery Show (IIJS) is glamorous but apart from that I saw the potential the industry has and I was confident that I would be able to tap into it.”
Challenges & Changes
Despite the confidence, Thadeshwar was a bit anxious initially as the industry was highly unorganized. He says, “Before joining the family business, I knew that the industry was unorganized both in the manufacturing and retail side, I had my apprehensions regarding this however when I finally joined the business in 2010, I realized that the things are changing, people are moving towards being more organised, chain stores had started coming up and I understood that to work with these chains, we too had to be organised.” That thought paid off and now Shringar House of Mangalsutra supplies gold mangalsutras to almost all the top-notch retailers across the country and exports it world over.
His education came to be an asset when he introduced concepts like customer relations which was unheard of before. “Earlier it was just business, vendor- customer relation but now we have customer relations, marketing department now,” says Thadeshwar.
As the director of the company, Thadeshwar first job was to take the company towards being more organized. He started bar coding system, introduced inventory management and focused on designs. Another important step was setting up of the export division of the company. “It was indeed a big milestone for the company when we started the export division. Apart from it we also have made our presence felt online. Our B2B portal is doing quite well.” Earlier there were no categories for mangalsutra, now Shringar House of Mangalsutra has more than 18 categories of mangalsutras like formal, classic, hand -made, premium, Calcutta and many more. “Different places in the country have their own style of manufacturing like Junhagard has its own style, Ahmedabad has antique , Coimbatore has casting so we manufacture mangalsutras in all these different styles,” says Thadeshwar.
“We had introduced 18 Karat fancy jewellery range in Italian concept, it did not do well and ultimately we had to give it up,” says Thadeshwar. “We learnt that first we should study and know our target audience and the maximum we can experiment with a product.”
It was not easy to make changes, it took time and happened gradually over a period. Now the result is there for everyone to see.Being designer, I made sure that the designs were as per the prevailing trends and demands. To understand the pulse of the end consumer, we are personally in touch with our customers and constantly take feed backs from them.
Hiren Soni, Director, Dashrath I Soni Ahmedabad with his vision, innovation and work ethics has made a mark for himself and his company in the jewellery industry. With sheer hard work and diligence, he hopes to be one of the brightest star in the manufacturing sector.
Family Business all the Way
There was no other dream but to join the family business and explore the creative aspect of it for Hiren Soni, Director, Dashrath I Soni. He dreamt of taking the business to another lever for which he prepared himself right from the beginning. He says, “I did my MBA along with jewellery designing courses, both from Ahmedabad. Aside from studies, I was involved in the family business even before completing my studies. By the time, I was ready to join it, I had both theoretical as well as practical knowledge of the business.”
Changes & Challenges
It has been eight years since Soni joined the business and in these eight years he has initiated several changes in the way they traded, maintained their accounts and manufactured jewellery to help the company grow. He says, “It was not easy to make changes, it took time and happened gradually over a period. Now the result is there for everyone to see.” A major step taken by Soni was participating exhibitions, which was not a part of the company’s business strategy. Being a designer, he also took keen interest in the design aspect of the jewellery. “I made sure that the designs were as per the prevailing trends and demands. To understand the pulse of the end consumer, we are personally in touch with our customers and constantly take feed backs from them,” says Soni. Innovation is the forte of Soni. He has been credited for bringing in new marketing ideas as well as conveying new designing concept.
“We are clear in our vison, innovative and have specific approach towards our work and we believe that these things will take us places. In two years’ time, we hope to be one of the most trusted and respected company across the country,” says Soni.