The gems and jewellery industry is known as the most thriving and call it a boon or a bane but this electric energy and order in chaos is largely due to the unorganised way the trade functions. But, this unorganisation is slowly disappearing the bookish rules of business are being set into play. The terms such as vertical integration, backward vertical integration and forward vertical integration are not used in the conversational manner; but the theories behind these terms are already in motion in our industry. A vertical integration strategy is one in which one company functions at more than one level of the distribution channel. The distribution channel initiates with the manufacturer that makes a product. The manufacturer sells the product to a wholesaler. The wholesaler sells to retailers, who eventually sell to end customers. When a manufacturer sells directly to end customers, it uses forward vertical integration. The forward integration is commonly denoted to as ‘eliminating the middle man,’ as manufacturers may cut out the wholesaler to sell directly to retailers or the retailer to sell directly to customers. But, when a wholesaler or retailer manufacturers, it uses backward vertical integration. In this month’s big story, Priyanka Desai and Kunjal Karaniya delve into the forward vertical integration. %% There are a handful of manufacturers who have forayed into retail and these are all giants in the industry. Some of the companies that are known for the forward vertical integration are Hari Krishna Exports (Kisna), Kama Schachter Group (Kama), Rosy Blue (Orra), KGK Group (Entice), Oro (Raia Jewels), Gitanjali (Gili, Asmi, Nakshatra, etc.), Rajesh Exports (Laabh Jewellers), Jewelex India (Opulence), Shree Ganesh Jewellery House (GAJA), Emerald Jewel Industry (Jewel One), M. Suresh (Adore). We managed to get the biggest four names to help us understand this concept better. Let us know how Kama, Kisna, Entice and Opulence were created. %% {{1) What is the reason behind foraying into retail?}} $$ {{Sanjay Kothari: }}Looking at the future, getting into retail was an important decision as the retail market is prospering. There is a lot of pressure on the margins in the trading business and initiating retail venture is a step further to maintain profitability. Secondly, everything is about the end consumer. Manufacturing, trading, everything is customer centric as retail is the end of the pipeline. Entering into retail brings us close to the end consumer and helps us know and analyse our consumer better. It keeps us in pace with the on going trends and demands and helps us not just in retail but also up to the beginning of the pipeline. %% {{Ghanshyambhai Dholakia:}} Since it is the future and also the way ahead for expansion from manufacturing to retailing, we decided to foray in retail.It in a way completes the business cycle.It helps you gain end consumer insights and to get to know trends in the market.It is essential for a long-term survival in the industry.It also helps you serve the consumer better as you are aware of their needs by being part of and aware of the retailer behavior and tools.Our vision is to reach out to all the individuals who have dreamt of owning diamond jewellery.%%

{{Colin Shah:}} Kama’s retail venture was on the cards for a long time. There were multiple factors that drove our foray into retail. Firstly, over the last 15 years, with us servicing leading jewellery retailers globally we have closely observed the jewellery retail practices worldwide. Internationally, there are multiple jewellery retail formats that co-exist. Having experienced jewellery retail closely, we realized that there is a good scope for a lot of specialised offering in this segment in India. Secondly, with the increasing urbanisation and exposure to the western world, the Indian customer is evolving in terms of his/her preferences and shopping behaviour. To cater to these changing needs of the consumer, retailers today are focusing their efforts in establishing long term relationships that benefit both mutually.And hence, the year 2012 saw our first brick and motor store emerge in Andheri in Mumbai and the year 2013, saw our online presence with the ecommerce store www.kamajewellery.com %% {{Devang Sangani:}} We have been in the jewellery manufacturing business for a very long time and some of the end consumers were already keen on buying directly from us. There were incessant requests from our patrons to launch a retail outlet to gain the price advantage and the product finish advantage. A lot of study went into this launch from geography and product mixes to establishing the kind of consumers we wanted to target. We studies for almost five to six month in tier I and tier II cities and did a detailed survey by talking to a large number of end consumers. We were then confident that the consumers are ready to welcome us and in the end it is always good to be self-sufficient. %% {{2) Does the retail add to the profit margins in a big way?}} $$ {{Sanjay Kothari:}}It does add but only after stabilisation. One needs to have patience in the retail business, as it requires a few years of gestation period in order to mature and give profit results.%% {{Ghanshyambhai Dholakia: }}The profit margins in retail are certainly better than in manufacturing for obvious reasons such as the control over the price, the deletion of the mark up from the retailers side, etc. %% {{Colin Shah: }}Kama retail contributes to 20% of our overall business. More than profits, the above-mentioned reasons were the factors to venture into retail. Kama is one of Asia’s largest diamond jewellery manufacturer and exporter. We have been in this business for close to two decades now. Our experience and expertise developed over time in catering to the needs of some of the largest retailers globally had laid a strong foundation for our own foray into retail in India.%% {{Devang Sangani:}} The profit margins are good but retail is a game of patience. The profit margins do not rise suddenly and only once the trust and faith of the brand has reached the pinnacle will the end consumers buy more and more. The inventory cost is also high thus it does take a while for the profit margins to get higher. The product has to be the ‘wow’ factor. %%

{{3) What was the initial reason behind evading the middlemen such as retailers in the business cycle?}} $$ {{Sanjay Kothari}}: The middlemen will always be there. We have not evaded them. We have added to the number of players in the market. It’s all about the pressure on profit margins.%% {{Colin Shah:}}Venturing into retail was not a move against the middlemen or retailers in the business cycle. For Kama it was a new avenue. Kama works with top retailers across India and the designs are exclusive to them. Kama Retail in no way affects the way we work with other retailers as manufacturer. Our initial market research in this area also threw up certain encouraging facts. For example, everyone offers jewellery for all occasions and all products. Thus there is no specific story or proposition in the communication that is going out to the end users. Another fact that came out strongly was about the changing jewellery buying habits amongst urban couples between the age group of 20-40 years. Facts like occasions to groom have increased; Bridegroom independently shopping for wedding; customers looking for practicality in jewellery purchase.Kama saw this as an opportunity for a specialised store concept for today’s urban couples. A concept where the entire premise for the brand is around ‘Romantic Love’. In other words we wanted to launch a ‘Love Destination Store’. Also being a ‘manufacturer-retailer’ has its own set of advantages in terms of product offering, quality, sharper pricing, etc.%% {{Devang Sangani:}} We have been DTC Sightholders for around three decades and have been the trusted choice of retailers from around the globe. We have not evaded the retailers, as they are a part of our success. Opulence is a different identity from Jewelex and launching Opulence was not in any way going against retailers. %%

{{4) Does this step assure a better quality and range to the end consumers?}} $$ {{Sanjay Kothari:}}Definitely. As a manufacturer, we are associated with many leading establishments and have a defined quality control and values. The same passes on to our retail business resulting in a very high-end quality product.%% {{Ghanshyambhai Dholakia:}} Yes, it certainly does. As being a manufacturer we can modify the designing as per the demand and trends thus enhancing the range for the consumers. Also, when the brand satisfies the needs of the consumer it helps you build your brand thus adding more value to you. %% {{Colin Shah:}} Being a ‘manufacturer-retailer’ has its own set of advantages in terms of product offering, quality, sharper pricing etc. All of Kama’s creations are exclusive, crafted meticulously by the finest of artisans. And while ensuring high quality of products, we also adhere to the professional standards of certified jewelry, on-time delivery and timely customer support. Our prime focus is to deliver consistent quality of jewelry that the customer deserves. Over the years, we have experienced excellent growth, and have delivered high quality diamond jewellery at excellent price points to both our B2b or B2C customers.%% {{Devang Sangani:}} This step is always beneficial to the end consumers. The finish and the pricing advantages are the top benefits. We ensure that we can fulfill our customers’ every desire be it through unique designs or fitting it into a budget. Being a ‘manufacturer-retailer’ we have the ability to offer such facilities in the shortest span of time.%% {{5) Does this step make the DTC happier? }}$$ {{Ghanshyambhai Dholakia: }}All the miners would be happy, as the usage of diamonds would increase thus making the miner, manufacturer, retailer and the consumers happy.%% {{Devang Sangani:}} DTC was happy but it cannot be said that they showed some extreme joy of us entering into retail. DTC had a condition earlier of making the ‘manufacturers-retailers’ Sightholders but that is not the case any more. As the consumption of diamond increases, everybody is eventually happy. %% {{6) Does foraying into retail help in getting stock listed or raising money from the bank?}} $$ {{Sanjay Kothari:}} Retail industry is more organised and transparent as compared to manufacturing or trading. Visibility is good for any business to attract stakeholders. Yes, retail does add to the interest of the stakeholders, as a brand has a more visible format with stores and tangible products and thus adds to the evaluation. This is not possible so much in trading.%% {{Ghanshyambhai Dholakia:}} We haven’t considered or examined this in regards to getting stock listed at the moment but I don’t think retailing helps in raising money from the bank.%% {{Colin Shah:}} We are not a stock listed company. But in my opinion, a good business model and growth chart helps you raise more money from the banks or investors.%% {{Devang Sangani:}} Jewelex and Opulence are two different identities so it doesn’t really come in equation. Any entity has to perform well. It is all about the balance sheet at the end of the day. %% To read full cover story... buy your issue now! Call +91 22 23866641, email: info@indianjeweller.in

The gems and jewellery industry is known as the most thriving and call it a boon or a bane but this electric energy and order in chaos is largely due to the unorganised way the trade functions. But, this unorganisation is slowly disappearing the bookish rules of business are being set into play. The terms such as vertical integration, backward vertical integration and forward vertical integration are not used in the conversational manner; but the theories behind these terms are already in motion in our industry. A vertical integration strategy is one in which one company functions at more than one level of the distribution channel. The distribution channel initiates with the manufacturer that makes a product. The manufacturer sells the product to a wholesaler. The wholesaler sells to retailers, who eventually sell to end customers. When a manufacturer sells directly to end customers, it uses forward vertical integration. The forward integration is commonly denoted to as ‘eliminating the middle man,’ as manufacturers may cut out the wholesaler to sell directly to retailers or the retailer to sell directly to customers. But, when a wholesaler or retailer manufacturers, it uses backward vertical integration. In this month’s big story, Priyanka Desai and Kunjal Karaniya delve into the forward vertical integration. %% There are a handful of manufacturers who have forayed into retail and these are all giants in the industry. Some of the companies that are known for the forward vertical integration are Hari Krishna Exports (Kisna), Kama Schachter Group (Kama), Rosy Blue (Orra), KGK Group (Entice), Oro (Raia Jewels), Gitanjali (Gili, Asmi, Nakshatra, etc.), Rajesh Exports (Laabh Jewellers), Jewelex India (Opulence), Shree Ganesh Jewellery House (GAJA), Emerald Jewel Industry (Jewel One), M. Suresh (Adore). We managed to get the biggest four names to help us understand this concept better. Let us know how Kama, Kisna, Entice and Opulence were created. %% {{1) What is the reason behind foraying into retail?}} $$ {{Sanjay Kothari: }}Looking at the future, getting into retail was an important decision as the retail market is prospering. There is a lot of pressure on the margins in the trading business and initiating retail venture is a step further to maintain profitability. Secondly, everything is about the end consumer. Manufacturing, trading, everything is customer centric as retail is the end of the pipeline. Entering into retail brings us close to the end consumer and helps us know and analyse our consumer better. It keeps us in pace with the on going trends and demands and helps us not just in retail but also up to the beginning of the pipeline. %% {{Ghanshyambhai Dholakia:}} Since it is the future and also the way ahead for expansion from manufacturing to retailing, we decided to foray in retail.It in a way completes the business cycle.It helps you gain end consumer insights and to get to know trends in the market.It is essential for a long-term survival in the industry.It also helps you serve the consumer better as you are aware of their needs by being part of and aware of the retailer behavior and tools.Our vision is to reach out to all the individuals who have dreamt of owning diamond jewellery.%%

{{Colin Shah:}} Kama’s retail venture was on the cards for a long time. There were multiple factors that drove our foray into retail. Firstly, over the last 15 years, with us servicing leading jewellery retailers globally we have closely observed the jewellery retail practices worldwide. Internationally, there are multiple jewellery retail formats that co-exist. Having experienced jewellery retail closely, we realized that there is a good scope for a lot of specialised offering in this segment in India. Secondly, with the increasing urbanisation and exposure to the western world, the Indian customer is evolving in terms of his/her preferences and shopping behaviour. To cater to these changing needs of the consumer, retailers today are focusing their efforts in establishing long term relationships that benefit both mutually.And hence, the year 2012 saw our first brick and motor store emerge in Andheri in Mumbai and the year 2013, saw our online presence with the ecommerce store www.kamajewellery.com %% {{Devang Sangani:}} We have been in the jewellery manufacturing business for a very long time and some of the end consumers were already keen on buying directly from us. There were incessant requests from our patrons to launch a retail outlet to gain the price advantage and the product finish advantage. A lot of study went into this launch from geography and product mixes to establishing the kind of consumers we wanted to target. We studies for almost five to six month in tier I and tier II cities and did a detailed survey by talking to a large number of end consumers. We were then confident that the consumers are ready to welcome us and in the end it is always good to be self-sufficient. %% {{2) Does the retail add to the profit margins in a big way?}} $$ {{Sanjay Kothari:}}It does add but only after stabilisation. One needs to have patience in the retail business, as it requires a few years of gestation period in order to mature and give profit results.%% {{Ghanshyambhai Dholakia: }}The profit margins in retail are certainly better than in manufacturing for obvious reasons such as the control over the price, the deletion of the mark up from the retailers side, etc. %% {{Colin Shah: }}Kama retail contributes to 20% of our overall business. More than profits, the above-mentioned reasons were the factors to venture into retail. Kama is one of Asia’s largest diamond jewellery manufacturer and exporter. We have been in this business for close to two decades now. Our experience and expertise developed over time in catering to the needs of some of the largest retailers globally had laid a strong foundation for our own foray into retail in India.%% {{Devang Sangani:}} The profit margins are good but retail is a game of patience. The profit margins do not rise suddenly and only once the trust and faith of the brand has reached the pinnacle will the end consumers buy more and more. The inventory cost is also high thus it does take a while for the profit margins to get higher. The product has to be the ‘wow’ factor. %%

{{3) What was the initial reason behind evading the middlemen such as retailers in the business cycle?}} $$ {{Sanjay Kothari}}: The middlemen will always be there. We have not evaded them. We have added to the number of players in the market. It’s all about the pressure on profit margins.%% {{Colin Shah:}}Venturing into retail was not a move against the middlemen or retailers in the business cycle. For Kama it was a new avenue. Kama works with top retailers across India and the designs are exclusive to them. Kama Retail in no way affects the way we work with other retailers as manufacturer. Our initial market research in this area also threw up certain encouraging facts. For example, everyone offers jewellery for all occasions and all products. Thus there is no specific story or proposition in the communication that is going out to the end users. Another fact that came out strongly was about the changing jewellery buying habits amongst urban couples between the age group of 20-40 years. Facts like occasions to groom have increased; Bridegroom independently shopping for wedding; customers looking for practicality in jewellery purchase.Kama saw this as an opportunity for a specialised store concept for today’s urban couples. A concept where the entire premise for the brand is around ‘Romantic Love’. In other words we wanted to launch a ‘Love Destination Store’. Also being a ‘manufacturer-retailer’ has its own set of advantages in terms of product offering, quality, sharper pricing, etc.%% {{Devang Sangani:}} We have been DTC Sightholders for around three decades and have been the trusted choice of retailers from around the globe. We have not evaded the retailers, as they are a part of our success. Opulence is a different identity from Jewelex and launching Opulence was not in any way going against retailers. %%

{{4) Does this step assure a better quality and range to the end consumers?}} $$ {{Sanjay Kothari:}}Definitely. As a manufacturer, we are associated with many leading establishments and have a defined quality control and values. The same passes on to our retail business resulting in a very high-end quality product.%% {{Ghanshyambhai Dholakia:}} Yes, it certainly does. As being a manufacturer we can modify the designing as per the demand and trends thus enhancing the range for the consumers. Also, when the brand satisfies the needs of the consumer it helps you build your brand thus adding more value to you. %% {{Colin Shah:}} Being a ‘manufacturer-retailer’ has its own set of advantages in terms of product offering, quality, sharper pricing etc. All of Kama’s creations are exclusive, crafted meticulously by the finest of artisans. And while ensuring high quality of products, we also adhere to the professional standards of certified jewelry, on-time delivery and timely customer support. Our prime focus is to deliver consistent quality of jewelry that the customer deserves. Over the years, we have experienced excellent growth, and have delivered high quality diamond jewellery at excellent price points to both our B2b or B2C customers.%% {{Devang Sangani:}} This step is always beneficial to the end consumers. The finish and the pricing advantages are the top benefits. We ensure that we can fulfill our customers’ every desire be it through unique designs or fitting it into a budget. Being a ‘manufacturer-retailer’ we have the ability to offer such facilities in the shortest span of time.%% {{5) Does this step make the DTC happier? }}$$ {{Ghanshyambhai Dholakia: }}All the miners would be happy, as the usage of diamonds would increase thus making the miner, manufacturer, retailer and the consumers happy.%% {{Devang Sangani:}} DTC was happy but it cannot be said that they showed some extreme joy of us entering into retail. DTC had a condition earlier of making the ‘manufacturers-retailers’ Sightholders but that is not the case any more. As the consumption of diamond increases, everybody is eventually happy. %% {{6) Does foraying into retail help in getting stock listed or raising money from the bank?}} $$ {{Sanjay Kothari:}} Retail industry is more organised and transparent as compared to manufacturing or trading. Visibility is good for any business to attract stakeholders. Yes, retail does add to the interest of the stakeholders, as a brand has a more visible format with stores and tangible products and thus adds to the evaluation. This is not possible so much in trading.%% {{Ghanshyambhai Dholakia:}} We haven’t considered or examined this in regards to getting stock listed at the moment but I don’t think retailing helps in raising money from the bank.%% {{Colin Shah:}} We are not a stock listed company. But in my opinion, a good business model and growth chart helps you raise more money from the banks or investors.%% {{Devang Sangani:}} Jewelex and Opulence are two different identities so it doesn’t really come in equation. Any entity has to perform well. It is all about the balance sheet at the end of the day. %% To read full cover story... buy your issue now! Call +91 22 23866641, email: info@indianjeweller.in

The gems and jewellery industry is known as the most thriving and call it a boon or a bane but this electric energy and order in chaos is largely due to the unorganised way the trade functions. But, this unorganisation is slowly disappearing the bookish rules of business are being set into play. The terms such as vertical integration, backward vertical integration and forward vertical integration are not used in the conversational manner; but the theories behind these terms are already in motion in our industry. A vertical integration strategy is one in which one company functions at more than one level of the distribution channel. The distribution channel initiates with the manufacturer that makes a product. The manufacturer sells the product to a wholesaler. The wholesaler sells to retailers, who eventually sell to end customers. When a manufacturer sells directly to end customers, it uses forward vertical integration. The forward integration is commonly denoted to as ‘eliminating the middle man,’ as manufacturers may cut out the wholesaler to sell directly to retailers or the retailer to sell directly to customers. But, when a wholesaler or retailer manufacturers, it uses backward vertical integration. In this month’s big story, Priyanka Desai and Kunjal Karaniya delve into the forward vertical integration. %% There are a handful of manufacturers who have forayed into retail and these are all giants in the industry. Some of the companies that are known for the forward vertical integration are Hari Krishna Exports (Kisna), Kama Schachter Group (Kama), Rosy Blue (Orra), KGK Group (Entice), Oro (Raia Jewels), Gitanjali (Gili, Asmi, Nakshatra, etc.), Rajesh Exports (Laabh Jewellers), Jewelex India (Opulence), Shree Ganesh Jewellery House (GAJA), Emerald Jewel Industry (Jewel One), M. Suresh (Adore). We managed to get the biggest four names to help us understand this concept better. Let us know how Kama, Kisna, Entice and Opulence were created. %% {{1) What is the reason behind foraying into retail?}} $$ {{Sanjay Kothari: }}Looking at the future, getting into retail was an important decision as the retail market is prospering. There is a lot of pressure on the margins in the trading business and initiating retail venture is a step further to maintain profitability. Secondly, everything is about the end consumer. Manufacturing, trading, everything is customer centric as retail is the end of the pipeline. Entering into retail brings us close to the end consumer and helps us know and analyse our consumer better. It keeps us in pace with the on going trends and demands and helps us not just in retail but also up to the beginning of the pipeline. %% {{Ghanshyambhai Dholakia:}} Since it is the future and also the way ahead for expansion from manufacturing to retailing, we decided to foray in retail.It in a way completes the business cycle.It helps you gain end consumer insights and to get to know trends in the market.It is essential for a long-term survival in the industry.It also helps you serve the consumer better as you are aware of their needs by being part of and aware of the retailer behavior and tools.Our vision is to reach out to all the individuals who have dreamt of owning diamond jewellery.%%

{{Colin Shah:}} Kama’s retail venture was on the cards for a long time. There were multiple factors that drove our foray into retail. Firstly, over the last 15 years, with us servicing leading jewellery retailers globally we have closely observed the jewellery retail practices worldwide. Internationally, there are multiple jewellery retail formats that co-exist. Having experienced jewellery retail closely, we realized that there is a good scope for a lot of specialised offering in this segment in India. Secondly, with the increasing urbanisation and exposure to the western world, the Indian customer is evolving in terms of his/her preferences and shopping behaviour. To cater to these changing needs of the consumer, retailers today are focusing their efforts in establishing long term relationships that benefit both mutually.And hence, the year 2012 saw our first brick and motor store emerge in Andheri in Mumbai and the year 2013, saw our online presence with the ecommerce store www.kamajewellery.com %% {{Devang Sangani:}} We have been in the jewellery manufacturing business for a very long time and some of the end consumers were already keen on buying directly from us. There were incessant requests from our patrons to launch a retail outlet to gain the price advantage and the product finish advantage. A lot of study went into this launch from geography and product mixes to establishing the kind of consumers we wanted to target. We studies for almost five to six month in tier I and tier II cities and did a detailed survey by talking to a large number of end consumers. We were then confident that the consumers are ready to welcome us and in the end it is always good to be self-sufficient. %% {{2) Does the retail add to the profit margins in a big way?}} $$ {{Sanjay Kothari:}}It does add but only after stabilisation. One needs to have patience in the retail business, as it requires a few years of gestation period in order to mature and give profit results.%% {{Ghanshyambhai Dholakia: }}The profit margins in retail are certainly better than in manufacturing for obvious reasons such as the control over the price, the deletion of the mark up from the retailers side, etc. %% {{Colin Shah: }}Kama retail contributes to 20% of our overall business. More than profits, the above-mentioned reasons were the factors to venture into retail. Kama is one of Asia’s largest diamond jewellery manufacturer and exporter. We have been in this business for close to two decades now. Our experience and expertise developed over time in catering to the needs of some of the largest retailers globally had laid a strong foundation for our own foray into retail in India.%% {{Devang Sangani:}} The profit margins are good but retail is a game of patience. The profit margins do not rise suddenly and only once the trust and faith of the brand has reached the pinnacle will the end consumers buy more and more. The inventory cost is also high thus it does take a while for the profit margins to get higher. The product has to be the ‘wow’ factor. %%

{{3) What was the initial reason behind evading the middlemen such as retailers in the business cycle?}} $$ {{Sanjay Kothari}}: The middlemen will always be there. We have not evaded them. We have added to the number of players in the market. It’s all about the pressure on profit margins.%% {{Colin Shah:}}Venturing into retail was not a move against the middlemen or retailers in the business cycle. For Kama it was a new avenue. Kama works with top retailers across India and the designs are exclusive to them. Kama Retail in no way affects the way we work with other retailers as manufacturer. Our initial market research in this area also threw up certain encouraging facts. For example, everyone offers jewellery for all occasions and all products. Thus there is no specific story or proposition in the communication that is going out to the end users. Another fact that came out strongly was about the changing jewellery buying habits amongst urban couples between the age group of 20-40 years. Facts like occasions to groom have increased; Bridegroom independently shopping for wedding; customers looking for practicality in jewellery purchase.Kama saw this as an opportunity for a specialised store concept for today’s urban couples. A concept where the entire premise for the brand is around ‘Romantic Love’. In other words we wanted to launch a ‘Love Destination Store’. Also being a ‘manufacturer-retailer’ has its own set of advantages in terms of product offering, quality, sharper pricing, etc.%% {{Devang Sangani:}} We have been DTC Sightholders for around three decades and have been the trusted choice of retailers from around the globe. We have not evaded the retailers, as they are a part of our success. Opulence is a different identity from Jewelex and launching Opulence was not in any way going against retailers. %%

{{4) Does this step assure a better quality and range to the end consumers?}} $$ {{Sanjay Kothari:}}Definitely. As a manufacturer, we are associated with many leading establishments and have a defined quality control and values. The same passes on to our retail business resulting in a very high-end quality product.%% {{Ghanshyambhai Dholakia:}} Yes, it certainly does. As being a manufacturer we can modify the designing as per the demand and trends thus enhancing the range for the consumers. Also, when the brand satisfies the needs of the consumer it helps you build your brand thus adding more value to you. %% {{Colin Shah:}} Being a ‘manufacturer-retailer’ has its own set of advantages in terms of product offering, quality, sharper pricing etc. All of Kama’s creations are exclusive, crafted meticulously by the finest of artisans. And while ensuring high quality of products, we also adhere to the professional standards of certified jewelry, on-time delivery and timely customer support. Our prime focus is to deliver consistent quality of jewelry that the customer deserves. Over the years, we have experienced excellent growth, and have delivered high quality diamond jewellery at excellent price points to both our B2b or B2C customers.%% {{Devang Sangani:}} This step is always beneficial to the end consumers. The finish and the pricing advantages are the top benefits. We ensure that we can fulfill our customers’ every desire be it through unique designs or fitting it into a budget. Being a ‘manufacturer-retailer’ we have the ability to offer such facilities in the shortest span of time.%% {{5) Does this step make the DTC happier? }}$$ {{Ghanshyambhai Dholakia: }}All the miners would be happy, as the usage of diamonds would increase thus making the miner, manufacturer, retailer and the consumers happy.%% {{Devang Sangani:}} DTC was happy but it cannot be said that they showed some extreme joy of us entering into retail. DTC had a condition earlier of making the ‘manufacturers-retailers’ Sightholders but that is not the case any more. As the consumption of diamond increases, everybody is eventually happy. %% {{6) Does foraying into retail help in getting stock listed or raising money from the bank?}} $$ {{Sanjay Kothari:}} Retail industry is more organised and transparent as compared to manufacturing or trading. Visibility is good for any business to attract stakeholders. Yes, retail does add to the interest of the stakeholders, as a brand has a more visible format with stores and tangible products and thus adds to the evaluation. This is not possible so much in trading.%% {{Ghanshyambhai Dholakia:}} We haven’t considered or examined this in regards to getting stock listed at the moment but I don’t think retailing helps in raising money from the bank.%% {{Colin Shah:}} We are not a stock listed company. But in my opinion, a good business model and growth chart helps you raise more money from the banks or investors.%% {{Devang Sangani:}} Jewelex and Opulence are two different identities so it doesn’t really come in equation. Any entity has to perform well. It is all about the balance sheet at the end of the day. %% To read full cover story... buy your issue now! Call +91 22 23866641, email: info@indianjeweller.in