Chandukaka Saraf & Sons didn’t survive two centuries by standing still. Kishorkumar Shah, Chairman and Director of Chandukaka Saraf, tells The Retail Jeweller how, with year-on-year growth of 15–18 percent and a roadmap built on AI, augmented reality and global e-commerce, nearly 200 years of earned trust looks like when it finally decides to scale.
EDITED EXCERPTS:
Chandukaka Saraf traces its origins to 1827 — nearly two centuries ago. How would you describe the foundational values on which the brand was built, and who was it serving at inception?
The journey began with a small seed of faith planted in Baramati. From day one, the pillars were very clear to us, purity of product, honesty in every transaction, and a genuine understanding of customer service. Chandukaka Saraf was never positioned exclusively for the affluent. The intent was to serve customers from all walks of life, to become a part of their joy, their milestones, and their trust, which still remains the same.
What was remarkable even then was the use of 23.5 and 24 carat purity gold at a time when such standards were extremely rare. It was a deliberate statement that this brand would not compromise on quality to compete on price and that sentiment remains the same today too.
When you took on a more active leadership role, what did you identify as the areas most in need of reconsideration?
Technology was the most obvious gap. Integrated software that are faster, more accurate, and scalable now manage the internal processes. On the customer-facing side, the shift has been equally significant. Complaints that once required a letter or a visit can now be addressed more immediately. Chatbots handle routine queries around the clock. What has been added alongside this — digital payments, card transactions, online banking, in-store jewellery repair, care and maintenance services — all of this has made the experience more easy. And data on customer preferences now allows us to personalise communication, offers and product suggestions in ways that were simply impossible before.
The second significant decision was operational. Keeping our stores open seven days a week. It sounds simple, but it was a meaningful shift in mindset for a legacy business that placed customer convenience at the centre of our operational model. From a business performance standpoint, this infrastructure has supported consistent year-on-year growth of 15 to 18 percent, with inventory growing at 15 to 20 percent annually. We now operate 17 stores across 14 cities — and that expansion would not have been manageable without the operational backbone that technology provides.
Bridal jewellery is a critical category for any major jewellery house. How has your approach to it evolved?
Today’s bride is extraordinarily clear about what she wants. Her jewellery is not an afterthought, it is a considered, researched decision. Recognising this, we developed the Wedding Jewellery Destination, or WJD, a dedicated section within our stores exclusively for bridal jewellery. It is curated to ensure that every bride finds what she envisions, whether she has a traditional vision or a contemporary one.
What has changed most visibly about the brand when you compare Chandukaka Saraf today to its earliest days?
The scale and the nature of the market has fundamentally changed. Gold jewellery was once viewed almost exclusively as an investment. Today, it is a fashion statement. Diamonds, which were once accessible only to a narrow segment of society, have become mainstream through better design and more accessible price points. Silver, traditionally associated with religious or utilitarian use, has found a place in everyday fashion. The customer is more informed, more design-conscious, more discerning. Beyond bridal, consumer preferences have broadened significantly. There is growing demand for lightweight everyday jewellery, contemporary and mix-and-match designs, and customised pieces for special occasions. Our collection has evolved to reflect all of this. We have responded to this with celebrity brand ambassadors, meaningful social media presence, and customer engagement programmes including investment schemes like Suvarna Aarambh and loyalty initiatives. The business has moved from being a local to becoming a genuine regional brand with the ambitions of a national one.
Finally, where do you see Chandukaka Saraf heading over the next several years?
The line between online and offline retail will continue to blur, and we intend to be ahead of that curve. We are investing in Virtual Try-On using augmented reality, so customers can experience jewellery on themselves, at home or in-store through smart mirrors. AI-based recommendation systems will allow us to personalise the selection process at scale. We are building dedicated e-commerce infrastructure for NRI customers globally, with a focus on reliable, fast international delivery. For the customer who wants something truly their own, we are moving towards bespoke design, where customers can submit their vision digitally and have it realised with precision through 3D printing technology. Two hundred years of trust is not a constraint on innovation. It is the foundation that makes innovation credible. That, in essence, is what Chandukaka Saraf is built on.
By Maithili Patange
The Retail Jeweller India Magazine
