Diamond jewelry sees double business growth vs. gold, with De Beers playing a key role.

Milan Shah of Kalamandir, Gujarat, the largest retail chain proprietor in the region with 4 stores, talks to Samit Bhatta, publisher, The Retail Jeweller India magazine about his momentous association with De Beers.

How is your association going with De Beers Forevermark and their Code of Origin? You have been working with them for quite some time now.

We have been associated with Forevermark for five years now. We started with just one stores, and today, we proudly display De Beers Forevermark diamonds at all our stores. They have a worldwide reputation, and their operative processes have taught us a lot. Their vision is large, not just for Forevemark, but for diamonds as a whole too. The growth has been phenomenal for us.

How is the Code of Origin working out for consumers?

We have been running the Code of Origin programme for two years now. About 80% of our stocks have been transferred into the programme and the consumers have been really excited about it. It is not a myth that diamond jewellery has registered a growth of 60-70% more, when compared to gold.  If gold has grown by 60%, diamonds stood at 120%. With the Kalamandir goodwill, the Forevermark stamp has only cemented the trust that our consumers have on us. It is a bonus for the customers.

DeBeers is celebrating 75 years of its “Diamonds are forever” tagline and have organised a forum in Mumbai. What are your expectations from it?

We go to all De Beers’ forums and the experience is always great. This year, we expect the supply chain to be made smoother, because last year it was a little disrupted. The Avanti collection has done beautifully and we have picked it up in large numbers for all our showrooms. These pieces flew off the shelves like hot cakes. We, therefore, want more new collections or additions to the Avanti collection. And of course, a better supply chain which is always ready with the products.

Courtesy: Retail Jeweller India News