Kesari Jewels from Sagwara shifting from a small 400 sq. ft. store to a 9000 store, rebranding their business to cater to a high-end customer base

1935 in the small town of Sagwara, located in the southern part of Rajasthan, ‘Kesarimal Ji ki Dukaan’ has been drawing customers from as far as a 50 km radius. Started by Kirti Kumar Shah, Shah Heeralal Kesarimal Saraf Jewellers continued to operate from a small 400 sq. ft. store, serving customers in an old rustic style, limiting its appeal to desi rural customers. Traditional floor-seated-jewellery selling in the store hindered its growth despite sporadic attempts to expand the inventory and improve the service in the past.

2023 Renaming Shah Heeralal Kesarimal Saraf Jewellers to Kesari Jewels and launching a 9000 sq. ft. retail store in a new retail location is only a small part of the jeweller’s holistic approach to rebranding the business and repositioning it for the more educated and sophisticated customers.

“The idea is to become the top choice of people in Sagwara. We are reintroducing the brand to customers. Kesarimal is now Kesari Jewels”

Nitin Shah, Director, Kesari Jewels

Even though organised retail has been reshaping businesses in the industry, Shah Heeralal Kesarimal Saraf Jewellers has been operating traditionally, sitting on the floor and selling desi yellow gold until it decided to rebrand and relocate a few km away into a more modern and upscale set-up of 9000 sq. ft. in Sagwara, Rajasthan.

“We want to reach more people in Sagwara,” says Nitin Shah, Director of Kesari Jewels. He is the second generation at the helm of the business. The jeweller is now reintroducing the brand to customers. “The store is the hero in all our communication and marketing,” says Shah.

Regarding the missed opportunities over the last few decades, Shah says, “Sagwara lacked the allure of experiential retail and contemporary designs.” Those seeking wider choices in high-end jewellery would flock to nearby cities like Ratlam, Udaipur, or Ahmedabad, where they would indulge in grand displays, exceptional amenities, and an unmatched shopping experience.

The jewellers’ new grand outlet is now well-poised to offer the big-city experience right in their hometown. “Our three-story building now boasts VIP lounges, offices, and an exhibition hall to showcase captivating collections. To enhance the overall customer experience, a café is also introduced within the store, offering visitors a place to relax and savour their moments of luxury,” says Shah.

The town predominantly comprises low-to-middle-income group households with limited disposable income. “They are majorly dependent on bigger cities where they operate small motels, restaurants or food joints. As such, the town does not show great economic growth potential. That is also why the city has thus far not been on the radar of the retail chains,” he explains.

Regardless, Kesari Jewels has transformed the store’s size and inventory based on the belief that even middle-class customers deserve a rich retail experience. “We have strategically upturned the inventory mix. Now 50 per cent of our jewellery is non-desi gold, including antiques, rose gold and diamonds,” says Shah. Overall, the inventory size has increased by more than forty per cent.

Shah explains how the traditional and old-fashioned appeal of the store hindered its growth despite sporadic attempts to expand the inventory and improve service in the past. “We started experimenting with antique gold, but potential customers for such jewellery never visited our store due to poor retail environment and preconceived notions,” says Shah. The jeweller continued to attract undiscerning rural customers from the city and beyond.

Sounding hopeful and buoyant about the new profile of the brand, he says, “The new store places us in a new league. Our store is now adjacent to a few others catering to the more educated and evolved customers.” Even though largely rural, there is a more educated and sophisticated gentry. “Hopefully, those are the customers we will now start attracting,” he adds.

Besides a more evolved customer base, plans are underway to capture the shift in customer preferences and emerging trends within the jewellery market. Kesari Jewels introduced feedback forms to gain deeper insights into customer needs and preferences. The survey reveals startling facts. It helped identify a surprising interest in diamond jewellery among Sagwara residents. “These forms helped us a lot to know customers. Data revealed that 50% of customers had prior experience purchasing diamonds (albeit from outside the city),” added Shah.

Kesari Jewels is pioneering a new culture amongst the locals and jewellers by being the first jeweller in the town to stock diamond jewellery. Thus far, “No one in this town displayed diamond jewellery at retail. Retailers only serviced clients who pre-ordered diamond jewellery,” says Shah. The jeweller has made a small beginning with 100 pieces using VVS quality diamonds in light-weight jewellery.

Kesari Jewels’ new holistic approach that has brought about change at every level of business is already witnessing a significant influx of new customers drawn to the store’s modern set-up, positioning, new facilities, and comprehensive collection, making it a preferred destination for sophisticated customers.

“With an expected annual growth rate of 15% over the next few years, we remain committed to providing an extraordinary experience to the middle-class segment, ensuring that luxury is accessible to all,” says Shah.

Soma Bhatta with inputs from Maithili Patange

The Retail Jeweller Magazine