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VAIBHAV SARAF – PARTNER – AISSHPRA GEMS & JEWELS, MD WITH REGIONAL RETAIL EXPANSION IMPACT (NORTH INDIA)

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From a single outlet to stores in 10 years, and another 10 stores anticipated over the next five years, Aisshpra Gems and Jewels is a rising retail powerhouse in central and eastern Uttar Pradesh. Vaibhav Saraf gives his fellow directors and a team of employees much of the credit for this track record of success.

His emphasis on a smoothly functioning partnership sets Aisshpra apart from other family jewellery brands and makes its leaps of scale possible. Saraf brings his collegial business practice to growth planning, partnering with prominent and reputed businessmen and members of the local community whenever Aisshpra launches a store in a new market. This business strategy wins the retailer immediate local social credibility, a head start in brand awareness.

These are game-changing advantages that guarantee success in new geographies by way of a collaborative approach and also present an opportunity to divide the capital investments. To meet his own target of 25 stores by 2025, Saraf is using his experience to perfect a franchise model for Aisshpra. Five or six new stores are to open in the coming year, partnerships as well as franchises, in smaller towns across the region. In the major metros of Lucknow and Varanasi, two large company-owned showrooms are in the works.

These luxurious outlets will give Aisshpra’s customers high-end service and couture jewellery. Saraf’s people-focused strategies offer his company fast growth with rock-solid foundations — an unusual combination and a noteworthy example for all family jewellers on the cusp of a change of scale.

Courtesy: Retail Jeweller India

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