For STAC, it’s all about making a case for everyday fine jewellery

Rashi Sanghvi, Co-founder of fine jewellery brand STAC, which sells only online, tells The Retail Jeweller how the brand was built, how it progressed through COVID and why it has succeeded

The trend of wearing lightweight gold and diamond jewellery every day is on the rise, with people increasingly choosing it over locker jewellery. That is where Aakriti Sethi and Rashi Sanghvi saw an opportunity, and started online fine jewellery retail brand STAC in 2018. Sanghvi brought to the table her experience in retail consumer goods and e-commerce, while Sethi came from a non-profit background, but had an understanding of business operations, as her father was in the diamond business and the family owned a jewellery store.

Edited excepts from a conversation with Rashi Sanghvi, Co-founder, STAC

The Retail Jeweller (TRJ): Why did you think of starting an online-only fine jewellery retail brand, especially as the webspace is still only being explored on this front?

Rashi Sanghvi (RS): To give customers across India easy access to a trusted brand that does simple and classy jewellery in 18kt gold. We realized that most people tend to wear heavy precious jewellery maybe twice in a year and then the ornaments go back into the locker. As we grow older, we want to own at least a few classic pieces that we can wear daily and with every attire. So, to fill this gap, we came up with the concept of fine jewellery for you and not your bank locker.

“As we grow older, we want to own at least a few classic pieces that we can wear daily and with every attire. So, to fill this gap, we came up with the concept of fine jewellery for you and not your bank locker”

Aakriti Sethi & Rashi Sanghvi
Co-founders, STAC

TRJ: What is the price range for STAC jewellery? How do you make big ticket sales?

RS: We have pieces that range from Rs 5,000 to Rs 50,000 with an average price of Rs 17,000 for everyday lightweight jewellery. All of it is 18kt gold and natural diamonds only. Our big tickets sales happen during special occasions such as weddings, graduation or other milestones, and festivals around the year, since the jewellery is perfectly priced for gifting.

TRJ: How do you offer personalized experiences to customers? How do you build trust and credibility online?

RS: All our jewellery is designed in-house and is a combination of machine-made and handcrafted because we want to retain India’s rich heritage of handcrafted jewellery. We are reinventing it in our own way. All our jewellery is hallmarked and certified. In India, cash-on-delivery is a big factor for gaining a customer’s trust and hence, we also offer that payment option. It is important to put yourself in your customer’s shoes to understand their concerns. STAC has also been featured in reputed publications, which adds to our credibility.

TRJ: How has the digital ecosystem evolved since the brand’s inception? How did the brand transition with the evolution of digital commerce?

RS: A lot has changed since we started STAC in 2018. We first went on Instagram for a year to understand the audience and what they want. We got a lot of requests there, even from smaller towns like Hosur and some parts of Punjab. This is where we saw the potential for STAC. Customers have been buying from STAC since 2018. However, the pandemic in 2020 changed the way people are buying. They started with buying essentials online and then progressed to jewellery. We have seen first-time buyers go for charms and then transition to bigger ornaments.

TRJ: How do you market your brand and compete against the online presence of big retailers in the jewellery industry?

RS: By providing the customer support for hassle-free delivery, lifetime buyback option and certification – our focus lies in giving a differentiated design experience through a boutique brand. When you buy a STAC piece, you are buying something that is classic, and won’t go out of style in three months. The STAC piece makes you feel proud because you are buying something timeless in 18kt gold, just for yourself.

TRJ: How do you leverage technology to enhance the customer experience?

RS: Our e-commerce website is hosted on Shopify for a smooth browsing experience. Our WhatsApp CRM Delight Chat sends prompt, automated responses to basic customer queries. A quick checkout system called Zebpay ensures a hassle-free checkout. Our team constantly analyses the web pages so that we can optimize them for a better customer experience.

TRJ: What services do you offer buyers to facilitate online purchases? Do you also customize jewellery?

RS: STAC has a ‘7-day return/15-day exchange – no questions asked’ policy. Along with complimentary jewellery polishing, we offer lifetime warranty. We do not customize jewellery but make changes as per the customer’s needs. We also launch our designs based on performance-driven data.

TRJ: Where do maximum queries come from – with regard to location and age group?

RS: By design, we are a modern and aesthetic metro-focused brand. So, Mumbai, Delhi, Bangalore and Hyderabad are our top four cities. Most of our customers are between 25-34 years; however, the numbers are significant even in the 30-50 years age bracket.

TRJ: What is the ratio of CAD designs and actual products?

RS: It is not possible to entirely digitally render the value of handcrafted jewellery. At present, the ratio of actual to CAD is 90:10 but eventually, we will move from 70:30 and then 50:50.

TRJ: What have been your biggest learnings regarding business and managing customers? What are some of the key milestones?

RS: Our biggest learning is to understand customers and talk to them as a friend. As for key milestones, we doubled our sales in just 2-3 years since the brand launched, and did well even during COVID. Last year, we did the highest sales for our Rakhi collection that was launched the year before.

Written by Aparna Bhowmick

The Retail Jeweller India Magazine