Chaitanya Cotha, Director at C Krishniah Chetty Group of Companies, who handles the online business, overall expansions, marketing, stores operations and HNI sales of the company, shares some vital insights on business during this pandemic
Q. Your rap campaign has joined tradition with modernity – it is cool and appeals to the youth, so how did it happen?
In terms of new designs -- A young and old design team makes this happen. The heads similarly are young and old. It's all about minds that work that make the design for the company.
Q. Do you think this campaign is enough to attract clients – what else needs to be done?
Not enough. As we say, the cheese keeps moving. Our goal is not only to make people not consume other options, but to get them to include jewellery of their liking into their consumption. We need to challenge and compete to get a fair share of their wallet.
Q. In the present day, of course, investing in gold is the only way out – what impact has it had on CKC’s profits post lockdown?
Well, it's been hard. It will take two balance sheets to wipe out or make up the lost profits. But what is good for this generation is to witness this. It may help us perform better in future. This will change the way finance is planned or provisions made in business, even in good times.
Q. What kind of apps have your tried to sell jewellery online?
We still don't have our own app. We will build one soon. We don't sell jewellery on app except on Amazon.
Q. What tax benefits do your investment schemes offer for the end consumer?
The gains due to rate increases are discounts hence are legally not income. However any gains on our other Signature Paper-Gold & Paper-Silver do attract capital gains when booked into your finances. That is cumulative income tax computation that can be set off against other capital gains losses as well.
Q. How has the pandemic affected sales for a heritage brand like yours?
From the information we have, I think we are doing better than most of the industry. However it hurts all. No one is spared. We will continue to work hard to keep our clients happy to build relationships.
Q. How are you embracing technology to ensure that you reach a wider audience?
In every way possible. From paperless transactions to online to video shopping to developing apps to improving our analysis using technology we already have (ERP) to 3-D printing to iPad designing to storage and cataloguing design libraries and more.
Q. We believe that your offerings are now available online can you highlight some...
Yes. But we are enhancing this capability. Technology absorption is not a quick process. We wish to be quick, but not at cost of quality of the outcome.
Q. What are some of the changes you have made in your business model or the way you do business in this time of pandemic?Not really much. Because we have been non expansionist. We are conservative from long. Hence back to basics has been our way for long. Looks like a good philosophy for long term sustainable businesses.
Q. Other than people walking into your store, what are some of the ways in which you are making sales happen?
As above. All options including home service and shopping curb side which we will start soon.
Q. What would be the top three mantras you adopt to stay ahead of the curve?
Maintain high standards in everything we do or think; be observant of what's happening around the world and connect with clients.
Checkout the rap campaign here