The Retail Jeweller (TRJ): You have ventured into an uber-premium luxury space. How do you think the market has changed now? Rohan Sharma (RS): When our family started the business, people would buy jewellery like an investment. Now, however, people are slowly leaning towards diamonds and gold as a fashion statement. It is more of a lifestyle choice. So, we slowly transformed to cater to a niche audience and make designs with the help of international aesthetic experts. Besides offering the designs and finish, it becomes important to offer these consumers a retail experience that matches the luxury quotient of the products. Indian consumers are fully aware of how retail as evolved in other categories and deserve to be treated in a manner that is more personalized and private even in the jewellery segment.
TRJ: Most retailers are cautiously treading the high-priced segment. However, your strategy is a complete divergence from the current market sentiment of focussing on price-sensitive products. What is your thought process?
RS: When the pandemic hit, everyone was pessimistic. It was uncertain, since there were no weddings or gatherings, so people felt jewellery won’t sell. We decided to think the other way with optimism and expanded our operations. Our prices start from Rs 5 lakh and go above. We feel there is a big market for well-designed and high-quality pieces.
This story is from the November - December 2020 edition of The Retail Jeweller.
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This story is from the November - December 2020 edition of The Retail Jeweller.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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