GUJARAT GOLD JEWELLERY SHOW (GGJS) OF FESTIVE BUYING AND FOOTFALLS

Panel delves into the journey of young jewellers, their challenges and innovative solutions, and how the fresh perspective they bring is crucial for the industry’s future

The second young jewellers’ panel at the Gujarat Gold Jewellery Show (GGJS) 2023 saw an engaging discussion on ‘New generation joining the jewellery business and what challenges they faced and overcame with innovative solutions. How and why should all jewellers’ children join the business’. The panel provided deep insights on the young generation of jewellers and how they can be the crucial change that their businesses need. The panel – hosted by The Retail Jeweller India – was moderated by Amit Bandi, CEO, DP Jewel Line, Mumbai. Leading the panelists into the discussion, Bandi said, “The stories of the new generation entering their family jewellery businesses show us their transformative impact and resilience in overcoming challenges. Their narratives emphasize why jewellers’ children should embrace the jewellery business – they’ve proven their capability to add significant value and steer the industry forward.” The panel had emerging talent from the jewellery industry like Chahat Shah, CMO, Kalamandir Jewellers, Surat, Aman Talla, Managing Director, Talla Jewellers, Jammu, Ansh Anand, COO, Punjab Jewels, Indore, Shobhit Agarwal, Director – Operations, Abhushan Diamond and Gold, Agra, Ishita Ranka from Ranka Jewellers, Pune who shared practical experiences and insights from their individual journeys.

“The stories of the new generation entering their family jewellery businesses show us their transformative impact and resilience in overcoming challenges. Their narratives prove their capability to add significant value and steer the industry forward.”

Amit Bandi, CEO, DP Jewel Line, Mumbai

“Gen Next is not just competing within jewellery, but also across various industries. We have to navigate these advancements to evolve in this dynamic and digital era.”

CMO, Kalamandir Jewellers

“The well-being of the staff and stepping into their shoes is of utmost importance as they are the pillars of any business” Ansh Anand”

COO, Punjab Jewels, Indore

Embracing the shift

Chahat Shah, a third-generation jeweller from Kalamandir Jewellers, said, “The younger generation in the jewellery industry is experiencing a transformative shift with AI and e-commerce. Now, they’re not just competing within jewellery, but also across various other industries. We have to navigate these advancements to evolve in this dynamic digital era.” Ansh Anand, driven by the desire to uphold his family legacy, highlighted the importance of understanding the legacy and the industry along with taking care of the staff. “The well-being of the staff and stepping into their shoes is of utmost importance as they are the pillars of any business,” said Ansh Anand. Aman Talla shed spoke of the vital components essential for brand building: Competition, Customers, and Care. Drawing from his experience of establishing three jewellery stores, he said, “The three C’s – Competition, Customers and Care are the most important stepping stones for every retailer and their business.”

Challenges and resilience

Entering the family business is no easy feat. The young panelists spoke of the challenges they faced in their journey. Shobhit Agarwal urged the young generation to stay passionate and make consistent improvements. “It is necessary to make small changes every day. Even the slightest changes in HR policies for the staff’s well-being can boost your business to a new level,” he added. Ishita Ranka from Ranka Jewellers, Pune discussed the challenge of modernizing marketing strategies. “Competing with the traditional mindset of my family along with the local regional-level players, and different target markets was a challenge which we overcame with patience,” she added. The panel concluded that the younger generation plays a pivotal role in upholding family legacies while innovating and adapting to ensure growth.

“The three C’s – Competition, Customers and Care are the most important stepping stones for any retailer and their business.”

Aman Talla Managing Director, Talla Jewellers, Jammu

“It is necessary to make small changes every day. Even the slightest changes in HR policies for the staff’s well-being can boost your business to a new level”

Shobhit Agarwal Director – Operations, Abhushan Diamond and Gold, Agra

“Competing with the traditional mindset of my family along with the local regional-level players, and different target markets was a challenge which we overcame with patience”

Ranka Jewellers, Pune