The Infinite Silver Boutique

Vendi Silver started as a shop-in-shop in the AVR Swarna Mahal showroom in 2021. In a candid conversation with The Retail Jeweller, Siddhanth AVR, Director, discusses the success story of the brand that is now a retail chain with 25 retail locations and an active e-commerce website

Buoyed by the shifting landscape of jewellery needs, AVR Swarna Mahal Jewellers forayed into the branded silver jewellery space. Siddhanth shares the core idea of creating fast fashion in the jewellery space and instilling a sense of pride in wearing silver, and the grand plans to have 100-plus stores across India by 2027

“Women, or young girls, have varied fashion requirements. That is the space we are filling, a silver brand that targets the new generation’s changing jewellery needs, much like fast fashion”

–Siddhanth AVR, Director, Vendi Silver

Edited Excerpts:

The Retail Jeweller (TRJ): AVR Swarna Mahal has sold silver jewellery from its stores for 96 years. What market opportunity did you identify for silver jewellery that inspired you to launch the silver jewellery brand Vendi in 2021?

Siddhanth (S): The changing demand patterns presented an opportunity to launch a silver brand. Customers like to shop from brands, which allowed us to position Vendi for a wider group of customers and build new segments.
Women, or young girls, have varied fashion requirements. It’s challenging to cater to them in gold or diamond jewellery, as it becomes expensive. That is the space we are filling—a silver brand that targets the new generation’s changing jewellery needs, much like fast fashion.  

TRJ: How has the brand expanded its retail presence in the last 3 years?

S: Vendi was first launched as a shop-in-shop concept in our AVR Swarna Mahal Jewellery flagship store in Salem. Today, we have over 25 retail outlets in multiple formats, including shop-in-shops, flagship stores, pop-ups, mall stores across South India, and an E-store. Currently, the Vendi Malleshwaram, a two-story shop spanning 2000 square feet, holds the largest retail space of all our outlets.

The ask was simple- create an affordable brand that instils pride in wearing silver. In India, people think silver is not precious, so our tagline says, “Take pride in silver!”

—Siddhanth AVR, Director, Vendi Silver

TRJ: What challenges did you face when entering the silver jewellery market, and how were they addressed?

S: The initial challenge was to get the right product mix. It was essential not to cannibalize our gold and diamond sales. We carefully structured a new design team and cultivated a new mindset, creating a new design language for Vendi. The ask was simple- create an affordable brand that instils pride in wearing silver. In India, people think silver is not precious, so our tagline says, “Take pride in silver!” We’re not just thinking about today; we plan the next 5 to 10 years. We want to forecast trends and be a trendsetter.

TRJ: You discussed the idea of fast fashion in jewellery. How has this translated into Vendi’s merchandise plan?

S: Vendi launches new designs every week. Throughout the year, there is always some occasion and reason for people to buy jewellery. We have multiple themes, each contributing to a different target group. For example, we have Vendi signature, Vendi timeless, Vendi select, gifting solution called Vendi loves, Vendi Me, Vendi Birthstone, Vendi Moments, Vendi Select, Vendi Festive, Vendi Men, Vendi Kids, Vendi Baby, and Vendi Teen contribute to an occasion or demographic. Our range starts from 250 rupees and goes up to two lakhs.

TRJ: What critical business strategy has contributed to building and expanding the brand’s reach?

S: Our themed approach has been one of the most effective strategies. It allows us to broaden our customer base compared to our immediate competitors, giving us more freedom to welcome more customers. From age 1 to age 50, we have jewellery for everybody and every occasion. We have created solutions and offerings for every target group.
Case in point: Customers desire practical items like little bangles for their newborns. However, since they don’t want to spend much money, silver is a great option. We provide antibacterial jewellery, so it won’t hurt the baby if they lick it.
In addition, we provide exclusive personalization around the Vendi Moments collection. We have the world’s most advanced laser machine. We can laser inscribe anything and everything: an image, a signature, or a name. We have created incredibly personalized gifts for our consumers. The customer cherishes such experiences. These small, thoughtful innovations and services help us uniquely serve our customers and create brand stickiness.

TRJ: How does the brand perform online versus offline?

S: Right now, our offline presence is good. We have started building up an online presence. It’s already launched, and we are sure it will do well.

TRJ: What are your future expansion plans?

S: We have charted the roadmap for the next five years. We want to have 100 stores in India by the year 2027. We are targeting a PAN India presence, and if everything goes well, we plan to go international, too. AVR Swarna Mahal Jewellery Limited will be going for an IPO very soon, and we don’t have such plans for Vendi at the moment.

By Pratyasha Kumari