A world-renowned platform like IIJS will help us recover losses

Vineet Vasa, a partner at Lotus Jewellery Creation, talks about the upcoming IIJS Virtual, and the opportunities that beckon the industry in the future

 Your opinion on the virtual format of IIJS?

We are excited, because it has been a long preparation. The IIJS Virtual is a world-renowned platform and will help us recover a lot of the business that Covid has cheated us out of. It is the need of the hour as it contributes to 15-20% of our overall sales. With the wedding and festive seasons coming up, we are looking to bounce back. Since virtual is the future, making the most of the event is our motto.

What are the new collections you are launching?

We have nine collections in the Indo-Italian 22K jewellery segment . The Amore Collection features CNC diamonds crafted in laser filigree technology. The Amore Astro Collection features ultra-light hollow filigree designs. Our Saubhagya Collection has bangles and different versions of the mangalsutra for the working woman. Ospia features versatile and reversible pieces — pendants that can be worn in three ways. We have the Women’s Collection, which is lightweight CNC diamonds again, but double layered. Our Pearl Jewellery Collection is a combination of Bikaneri, pakkameena and khakhomoti. The wedding band collection called Ostoria has pieces staring at 2 grams.

Is there anything different you are doing this year?

We are launching a special men’s jewellery collection in 18K gold. We are also looking to play with our fast-moving Odor Collection, meant for children.

What has the customer demand been this year?

We redesigned the Amore Collection and that became quite popular. People have realised the importance of family, so the spend is being directed accordingly. Odor has done especially well because children are our most precious gifts, so people are buying these little jewels to keep the little ones’ morale up during the lockdown.

What will your message be to people taking part in IIJS Virtual?

Planning in advance will help tide over the crisis. This is where IIJS will help. Retailers should start preparing for the upcoming wedding season. Many karigars have gone back to their hometowns, so production is low. Don’t wait until the end in such uncertain times.

Is it possible to recover the loss that the business has suffered in the past 6 months?

We can recover to a large extent. Jewellery buying is a must before any festival or wedding, so people will spend on gold jewellery.

The business is good in tier-2, tier-3 and tier-4 cities. Why is it so?

In the past, people from smaller cities travelled to metros to buy jewellery. Due to Covid, the option has been tossed out of the window. Today, a customer looks at options in their hometown. Retailers must stock up in the smaller arenas if they want business to pick up soon, because this is where the future beckons as of now.

Courtesy: Retail Jeweller India News Service