Big retails brands can only fulfill the aspirations of millennials

In a conversation with The Retail Jeweller, Parag Shah, Director, Kisna Diamond Jewellery talks about the unique qualities of Kisna as a diamond brand and the changes in consumer preferences over the past few years.

The Retail Jeweller (TRJ): What is your company’s USP?

Parag Shah (PS): Kisna diamond jewellery is a symbol of love and success catering to the requirements of the upcoming and growing community and the professionals who dream to adorn quality diamond jewellery.

Product design

Kisna has the best in house diamond jewellery design unit producing the best designs of international standards. Kisna Diamond Jewellery produces these designs on the world’s leading 3D computer-aided designing software.

Certification and quality

Every jewellery piece manufactured by Kisna is hallmarked from BIS and all the diamonds used in the manufacturing are certified by the International Gemological Institute (IGI). The entire jewellery manufacturing process is computer-controlled, and each process is done on world-class imported computer numerically controlled machines. As a result, the jewellery manufactured by Kisna has the best finish and lowest weight of international standards and this finishing cannot be imitated by local manufacturers, or by hand process.

Information Technology and data analysis

Kisna uses Information Technology to enable excellent inventory management & control and Data Analysis to gauge the demand trend.

Common MRP all over India

All the diamond jewellery manufactured is available all over India at a common Maximum Retail Price.

TRJ: What sets you apart from your competitors in the market?

PS: Kisna is a brand that is coveted for its promise of innovative designs, exemplary quality of craftsmanship. Our brand Kisna has become synonymous with diamond jewellery for weddings, celebrations, festive occasions as well for everyday wear for young upcoming and growing communities of India that has a tremendous appetite and seeks aspirational jewellery. Our enduring collection of aesthetically designed pieces epitomises the spirit of femininity, elegance and grace.

We are the jewellery destination of choice for every occasion, from a woman’s everyday wear to delicately crafted pieces for the biggest day of her life. We use a state of the art manufacturing unit that brings cutting edge innovation to jewellery making, putting the art and purity of the jewel above all else. Our designs combine a timeless vintage look with modernity.

Kisna diamond jewellery is sold pan India through a network of over 4000 outlets having a common MRP all over India. Every jewellery piece comes with a buyback guarantee. We were the first in India to promote the concept of lightweight diamond jewellery, offer lifetime buyback on diamond jewellery and provide GIA certified VVS diamonds and BIS hallmarked 18 karat gold.

Inspired by our founders and by staying true to the values of trust, quality and workmanship that we have carved a niche for ourselves. We have been at the forefront of designing traditional as well as contemporary collections and are trendsetters in setting benchmarks of excellence in all that we do.

TRJ: Constant Innovation and product development are vital? How do you work on that?

PS: In our research, we identified two types of consumers driving the growth of branded diamond jewellery:

Young consumers who turn to brands as a means of self-expression and self-realization.

Two-tier and three-tier cities emerging-market consumers, for whom established brands inspire trust and the sense of an upgraded lifestyle.

Keeping the above in view our research on the likes and dislikes of the above market segments led us to focus on lightweight diamond jewellery fulfilling the needs of first-time consumers who dream of adorning branded diamond jewellery.

How many of your collections were launched in IIJS 2019?

1)     Trio Collection – The collection consists of classic two-colour gold tube pendant set with glittering diamonds which was thoughtfully crafted and manufactured to keep the customers glittering every day.

2)     Everyday Rings Collection– The collection had a wide array of rings for everyday wear which are specially crafted. The diamonds were embedded in such a way to give a bigger look.

TRJ: Which collections performed exceptionally well for you in IIJS? Kindly name and explain a few of your collections?

PS: Both the collections of Trio Collection and Everyday Rings Collection have done exceedingly well and have generated good demand and culminating in large orders.

Spring Blooms – The collection was inspired from the spring bloom, intricate flowers and how they bloom. The collection was manufactured in 18K gold and diamonds.

TRJ: How has consumer demand been evolving?

PS: The gems and jewellery sector is witnessing changes in consumer preferences due to the adoption of the western lifestyle. Consumers are demanding new designs and varieties in jewellery and branded jewellers can fulfill their changing demands better than the local unorganised players. Moreover, an increase in per capita income has led to an increase in sales of jewellery, as jewellery is a status symbol in India.

In the coming years, growth in the sector would be largely contributed by the development of large retailers/brands. Established brands are guiding the organised market and are opening opportunities to grow. Increasing penetration of organised players provides variety in terms of products and designs. The demand for jewellery is expected to be significantly supported by the recent positive developments in the industry.

TRJ: Price point or design which of these factors influences your offerings and why?

PS: Based on our demand analysis we can forecast which design would be better received in the market and only after that we test what is the optimum sales value it would fetch.

The design is the priority and then to fit it into a value for money price is an art and science.

TRJ: What is your message to the retailers? And how challenging is it to maintain your network of retailers?

PS: Retailers are the final link between the manufacturers and the consumers. They are the ambassadors acting on behalf of the manufacturers and conveying the products salient features to the consumers. My message to the retailers is that in the long run, only loyalty pays. Relationship with your retailer network is a partnership built over a substantial period and it becomes stronger and stronger with time. We do not encounter any major challenges as we are always open to support our retailers and grow with our retailer’s support.

TRJ: What are your future plans?

PS: To bring a special concept to meet the needs of today’s millennials.

TRJ: Your vision for 2020?

PS: To grow substantially growth by understanding consumer needs and delivering the same.