‘We have to get used to virtual B2B shows like the IIJS’

Sanjeev Mehta of Apranje Jewellers thinks the market will come back to normal in 6 months and the next year will see unexpected numbers

What do you feel about the IIJS Virtual?

While it may take a little while for everybody to get used to it, I think this is the best option for everybody. We have to get used to virtual shows. Finalizing designs and pieces may be a little challenging because looking at the actual colour of the stone is not something that is going to be workable online. I am not sure how that will firm up with time, but virtual shows at the B2B level are going to be the way forward.

What kind of product categories will you be looking at during the IIJS virtual?

We will look at the overall spread of all the designs, but we may not be going for heavyweight jewellery. Earlier, we were stocking pieces between Rs 2 lakh and Rs 50 lakh, but I think the focus will now be between Rs 2 lakh and Rs 20 lakh. We won’t go into the extremely higher segment for the next quarter or six months. So, our focus would be on daily wear and functional jewellery. After six months, things will become normal.

What do you feel the market will be like in the next 6 months? Do you think you will make up for the business for the entire year?

I don’t think we will see 2019 numbers. The business is picking up and we will see the effect in the next 3-4 months. But if you look at the next accounting year, the numbers will go beyond our expectations. There will be revenge buying as people have been sitting back for a year. The vaccine will also play a major role as it will change sentiments. So, 6 months down the line, we will see things coming back to normal.

Courtesy: Retail Jeweller India News Service