Celebrities, exhibitions, and global recognition

Dia Gold Jewels has positioned itself in the top league of the industry, fuelled by successful exhibitions and celebrity endorsements, achieving a remarkable 40 per cent growth last year. Varda Goenka, Director, Dia Gold Jewels, talks to The Retail Jeweller, sharing her journey as an outsider in the jewellery industry

Varda Goenka, a science graduate with an MBA, turned her passion for designing jewellery into a thriving business with Dia Gold Jewels. Starting from Kolkata’s traditional market with no formal background in jewellery, she created unique and contemporary pieces that quickly gained popularity. Her international designs and finish have earned Dia Gold Jewels a distinguished reputation in the industry, attracting a loyal client base in Mumbai, London, the USA, Dubai, Bahrain, Riyadh, Abu Dhabi, Rome, and Singapore.

“We do exhibitions in India and abroad. They do not have instant sales, but sooner or later, we develop a lot of new clients through them. Exhibitions give us exposure to the right clients and help create new customers”

– Varda Goenka, Director, Dia Gold

Edited Excerpts:

Maithili Patange (MP): How did you become interested in the jewellery industry, and what inspired you to pursue a career in this field?

Varda Goenka (VG): I am a science graduate with an MBA. About 30 years ago, I began designing my own jewellery due to the lack of modern designs and limited internet access. Starting small from Kolkata, I made about 20 earrings which sold out in one day. This success encouraged me to continue despite not having a background in jewellery.

MP: How is the brand positioned in Kolkata compared to Mumbai, and what was the strategy behind opening your third store in Mumbai?

VG: We are known for our contemporary and modern designs in Kolkata. Previously traditional, the Kolkata market has changed today. After having a significant presence in Kolkata with two physical stores, we expanded to Mumbai in 2016 due to a strong client base. Being India’s financial capital, our presence here has been fruitful.

MP: You launched the brand in the year 2000 from Kolkata. What do you consider your milestone achievements since then?

VG: Opening the Mumbai store was a significant milestone. Additionally, I was invited to exhibit at the exclusive Nayyara exhibition in Saudi Arabia and the Indo-Roman commerce show in Rome. I also participated in a show with Asia House in London. These recognitions, along with connecting with influential people and acquiring high-profile clients, have been crucial to my journey.

MP: A lot of celebrities are often seen wearing Dia Gold Jewels. How has this influenced the brand’s growth and recognition?

VG: Our designs are contemporary yet classy, appealing to a broad audience. Kangana Ranaut wore my jewellery at Cannes, and Priyanka Chopra and Juhi Chawla are among other celebrities who have chosen Dia Gold Jewels. This exposure has contributed significantly to our brand’s growth.

MP: What is the design philosophy of Dia Gold, and how often do you release new collections?

VG: We release one or two collections per year. Our designs are inspired by nature, old masters, and cultural icons. Our summer collections feature multi-sapphires with diamonds. Historical and royal influences, such as the Russian Crown Jewels, inspire our creations. We offer simpler pieces in silver with diamonds, including high-end jadau pieces. Prices start at Rs. 20,000 and go up as high as the customer needs.

MP: Dia Gold Jewels has recently forayed into e-commerce. Tell us about your online presence and the shift from physical to digital sales.

VG: Our website was soft-launched to adapt to changing times. It has led to an increase in enquiries, especially from customers in tier-2 cities unable to visit us. While high-value purchases often require physical inspection, we are seeing a sale of less expensive items on our website.

“We are known for our contemporary designs in Kolkata. After having a significant presence in Kolkata with two physical stores, we expanded to Mumbai due to a strong client base. Being India’s financial capital, our presence here has been fruitful”

MP: You do a lot of exhibitions. How have these exhibitions helped the brand?

VG: We do exhibitions in India and abroad. They do not have instant sales, but sooner or later, we develop a lot of new clients through them. Exhibitions give us exposure to the right clients and help create new customers. It is tough to quantify the business that comes from here.

MP: What are Dia Gold Jewels’ future growth plans or strategies?

VG: Besides e-commerce, we plan to participate in more exhibitions in India and abroad and establish a presence in Rome, as we have many high-end clients there. We generally see 10-20 per cent annual growth. Last year, we achieved a 40 per cent growth, largely due to word-of-mouth and the finish of our products leading to repeat and new customers through referrals.

Written by Maithili Patange