Knowledge and experience need to be shared. Regarding knowledge they say that the more you share it, the smarter you become. And, this is the base of every seminar that is held. Taking a cue, Couture India held a series of seminars for the trade fraternity as well as consumers. All the seminars received a warm and welcoming response and appreciation for the topics of discussion and of course, the panelist line-up.

The first edition of Knowledge Forum powered by GIA, threw light on a various topics relating to the gems and jewellery industry. First Knowledge Forum was on Inheritance of Legacy which had Abhishek Zaveri, Vaibhav Saraf from Aisshpra, Rohan Narang from Hazoorilal Legacy, Dipankar Jain from Nikkamal Jewellers and Prashant Surana from BRS Jewels LLP. The seminar was moderated by Navin Sadarangani from NYUZ.

On the second day, a seminar on Retail Strategy: Balancing Expansion and Consolidation was held. The panelists included Tejpal Ranka from Ranka Jewellers, Anil Kataria from D P Jewellers and Himanshu Shekhar from Manohar Lal Jewellers. Another seminar was on Marketing Jewellery as Luxury Brand, which had Sachin Jain from Forevermark, Rishabh Tongya from Diacolor and Nirupa Bhatt from GIA India as panelists. Both these seminars were moderated by Anil Prabhakar from 4 Aay’s Consulting.

Inheritance of Legacy

• Change is inevitable

• Evolve as per changing consumer needs

• Be passionate of what you do

Gems and jewellery industry is a trade where generations have paved the way for the future successes of brands. Be it, a small family jeweller heir taking over the Gaddi or a sightholder company supported by management structure for the new entrant, how does the older generation of the business hand over the baton to the next in line? How does a young heir cement the same values that a brand has echoed for decades? In this new age of competition, this question has taken paramount importance. But we all know that the legacy remains only when there is consistent efforts to not only keep it alive but also to enrich it along the way.

Taking over a legacy is a huge responsibility but with the professional knowledge and inherited skills,one can transform the brand from an old school business to a professionally run corporate entity.- Vaibhav Saraf, Aishpra, Gorakhpur

I am proud to be part of an inspiring legacy. It is this legacy that has transformed itself by preserving and nurturing the heritage and traditions and I am committed bring futuristic trends and assimilate global patterns in order to cater to our ever esteemed customers. This is all possible only if you are passionate about the business and the industry that you are part of. -Deepankar Jain, Nilkamal Jewellers, Ludhiana

Business was simpler in old days as there was limited access to information and technology, which allowed them to do their business the way they wanted. Presently, due to technology it is a Harriet task to convince the customers the nuances of it. Though the times have changed, basic trust factor remains the same in the business.- Rohan Narang, Hazoorilal Legacy, Delhi

Legacy is a big responsibility and to carry on with it is another humongous task. And our generation needs to be aware of it. Also, be aware of it, than change is evitable and we need to adapt to it. - Prashant Surana, Bhuramal Rajmal Surana Jewellers, Jaipur

One of the major changes that have occurred in the jewellery business is the infrastructure cost that has majorly gone up. Apart from that simplicity of the business is long gone and it has been replaced with complex nature of business, policies, consumers etc. - Abhishak Zaveri, Abhishek Zaveri of Ahemdabad

Retail Strategy: Balance between Expansion and Consolidation

• Expansion is crucial to growth

• Embrace the change

• Value the human capital ofyour organisation

Times have changed rapidly and gone are the days when having your retail store’s branches was enough to gain enough exposure. The trade has moved out of those four walls and demands that you present yourself to the consumer in newer and novel ways. This is the time to ponder upon expansion mode but with the help of the strategic consolidation. Both the phenomenons are not opposite to each other but are complimentary to each other.

Consolidation and expansion go hand in hand and are crucial to growth. Enhancement is needed – be it the exposure of your brand, technologies used or interactions with the workforce and consumers. Nothing is magic. Every calculated step you take will show a fruitful result in the coming future. - Himanshu Shekhar, Manoharlal Jewellers, New Delhi

Aggression is good but thoughtful aggression will help your business in the long run. If you are planning to undertake expansion, first and foremost important factor, you have to understand is the thorough survey of the market, culture, heritage, demands etc. - Anil Kataria, DP Jewellers

It’s a do-or-die situation for the jewellers in the wake of number of jewellery retail chains and corporate jewellery houses. Tap the areas of your core target areas. It is necessary to reach out to your potential clients in every possible way.- Tejpal Ranka, Ranka Jewellers, Pune

Marketing Jewellery as a Luxury Brand

• Master the art of storytelling

• Follow the indigenous culture and heritage

• Define and work on the core target group

Luxury is about scarcity and exclusivity and not about being the most expensive always. This and more myths were demystified during this seminar. The panelists discussed What is luxury; luxury branding, how and how not to sell luxury products, India’s potential as a luxury brand market, types of luxury brand consumers, etc. During the seminar, the panelists also dwelled upon how to create a luxury brand. If one is keen to create a luxury brand in the country, first and foremost, there is need of in-depth market research, developing a striking brand concept, defining the core target group, making the brand identity visible, etc.

Use of not just the best but responsibly sourced product, well crafted designs and of course overall experience that the customer goes through while buying needs to be outstanding are some of the key factors to make it a luxury brand. -Rishabh Tongya, Creative Director, DiaColor

Story telling is crucial to building a luxury jewellery brand. Gems and jewellery industry has been only talking about money while the industry needs to step back and concentrate more on storytelling aspect. If we are making passionate about making jewellery, then being in luxury jewellery business makes sense.- Nirupa Bhatt, MD, GIA India & Middle East

Consumer ecology is changing. We have to build credibility. If our businesses have to sustain in the next 20 years, then it is better we understand what brands can cater to millennials. Consumers want to buy brands that are committed toward ethics. I am sure, if we do it right, in the next 10 years, we will surely have luxury jewellery brands in the country.- Sachin Jain, President, Forevermark-India