GEM & JEWELLERY INDUSTRYunder the aegis of FICCIorganized a one day

conference titled "Opportunitiesled growth". It targets theprogressive retailers and industryplayers with potential interest ingaining a farsighted view withvaried business topics foraccelerating competitiveness,productivity and innovation.

The first FIcer G&J Industryconference was hosted in the city ofMumbai in MayFair Banquets onJanuary 15, 2010. To encourage

knowledge culture as a route tobuild strong business foundationfor expanding businesses, MehulChoksi, Chairman, FICer, PrasadKapre, Co-Chairman, FICCIandSamit Bhatta, MD, IDL (India)spearheaded a representation oftop-notch companies andprofessionals from the industry inthe seminar. The seminar had close

to 100 pre - registered delegates,CEOs, Directors, COOs, Vice

Presidents, and high-level decisionmakers from different domains of

the retail jewellery industry as wellas trade participants, scientificsoftware developers andrepresentation from the Indiancounterparts of global researchcompanies like MicroSoft andTechnopak. The attendancerepresented a total of 25 citiesacross India.

One of FIcer's targets is toincrease the interest for knowledge­based learning and extend theawareness levels of domestic

players and make them future

74 I THE RETAIL .JEWELLER I ..JANUARY - FEBRUARY 2010

THE RETAIL .JEWELLER I .JANUARY - FEBRUA~Y 2010 I 7S

Relations, gave multiple examplesof successful PR initiatives within

the industry that were low cost buthighly effective in bringing mediaattention to its clients like Zoyaand others. She reminded the

audience that with increasing costof advertising and clutter in theadvertising world, PR is the mostcost efficient and effective way toreach out to the target. In anotherthought-provoking session by BijouKurien, President & Chief Executive

Lifetsyle, Reliance Retail Ltd.

Bijou Kurien - President & Chief Executive- Lifestyle, Reliance Retail Ltd.

Retai{ - ~ecia{ Events

Menon, CEO ,D'damas, spoke aboutan unique GIS system that enablesthe brand to identify an ideal storelocation on the basis of basis few

standard parameters built in thesoftware, which will further guidethe franchisee partner in the citywith the choicest of location for

retailing.Another interesting panel

discussion evaluated the scope ofInnovative PR strategies injewellery marketing. VeenaGidwani , CEO, Madison Public

ready for the potential growthopportunities in the gem andjewellery sector.

There was an elaborate session

on emerging opportunities infranchising in jewellery retailing inIndia. The panelists alsodeliberated on the challengeswithin the jewellery franchisingbusiness with Vijay Jain, CEO, Onalamenting on the poor experiencewith franchisee partners who areoften far removed from realities of

building successful businesses. R.K

-- ---- ----- ---~.'.: ... ' .... ,.~

••••••.~.-........••

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R K Menon

- CEO, D'dama

Binaisha laveri

- Director, TBZ- The Original

____ --,_-_.__ .~=-o:..o.--=>--=-..:o.-=-~-';::-::-,;.;.-:o--,-,-":-~-,,.~~_-_,-_~__ , ..••. ~~_ ~ .•...- ~ """,~,~ ••. _,""", ~..=-M __ ---

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~'C,'j\.m\lOnan111YgI~~«?d'"c-organizational survival. HerelceLac-ed. "Jnnovare to ensure thatyou continue to guard your share

o.f"'c£{C" n----a/?ec.- CG7L7..,.-«L7?Cf /0..7

£"»..9-»"..9"3»-9' _<'/) JVP h..;:}vP .tD cDJJtinve toremain re[evant and current to thecustomer".

• Ashok Minanwala, Chairman ­

Projects Committee, GJF, moderateda session on, 'Opportunities for thenext decade' in which Binaisha

Zaveri, Director, TBZ- The Original,stressed on the critical importanceof technology in the expansion of astore and the empowerment itbrings to control large scaleoperations.

• Shailesh Sangani, ManagingDirector, Priority Jewels discused theopportunities in watch categorythat offer high margins. He furthermentioned that internationallyboth the categories hold equalimportance for jewellery retailersbut in India most retailers shyaway from the category asinvestment in jewellery is perceivedto be more safe as it is recyclable.Renu Kapoor, Director, IndianInstitute of Jewellery broughtattention to the lack of importancegiven to education and trainingwithin the industry.

76 I THE RETAIL .JEWELLER I JANUARY - FEBRUARY 2010

••Bijou Kurien, President & Chief Executive- Lifestyle, Reliance Retail Ltd.

Shailesh Sangani

- MD, Priority Jewels

R K Menon

- CEO, D'dama

Binaisha laveri

- Director, TBZ- The Original

discussed various changes in the

social, political and cultural gamutof the COUntry,gave a snapshot ofIndian jewellery market, drew

parallel with other industries andhighlighted challenges in terms of

innovation in jewellery retailing.He further deliberated on the

changing rules in jewellery retail

bringing focus on the weakeningbond of trust between the Customerand family jeweller, significance ofdesigns, purity and quality. Heraised concerns over the visible

absence of innovation in jewelleryindustry while other similar sizedindustries like mobile phones,automobiles, apparel etc are

growing at a fast pace, posing stiffcompetition to the industry. Heemphasized on how innovation is avery important ingredient oforganizational survival. He

reiterated, "Innovate to ensure thatyou COntinue to guard YOur shareof the wallet. Consumer is

changing so We have to COntinue toremain relevant and current to theCUstomer".

• Ashok Minanwa/a, Chairman _

Projects Committee, GJF, moderateda session on, 'Opportunities for thenext decade' in which Binaisha

Zaveri, Director, TBZ- The Original,stressed on the critical importanceof technology in the expansion of astore and the empowerment itbrings to Control large scaleoperations.

• Shailesh Sangani, Managing

Director, Priority Jewels discused theoPPOrtunities in watch categorythat offer high margins. He furthermentioned that internationallyboth the categories hold equal

importance for jewellery retailers

but in India most retailers shyaway from the category as

investment in jewellery is perceivedto be more safe as it is recyclable.Renu Kapoor, Director, Indian

Institute of ]ewellery broughtattention to the lack of importance

given to education and trainingwithin the industry.

Retai{ - ~ecia{ Events

and standards. While delivering hisIntroductory Address,-Mr. Mehul Choksi, Chairman, FICCI

Gem & Jewellery Committee

observed that India has continued

to do well in the cut and polisheddiamond business at the globallevel. He stressed on the need to

work on this strength and makeefforts to increase markets and

global market share. Findingcheaper raw materials, roughdiamonds and improvingprofitability through properbranding and marketing strategies,according to him, were the keyareas for realizing higher growthsin the gem and jewellery sector.- Mr. Vasant Mehta, Chairman, Gem

& Jewellery Export Promotion

Council, called for concerted action

to increase the share of gems andjewellery in the growing wallet ofthe Indian consumers. He noted

that promotional efforts like'Anant' - an exquisite range ofsingle line diamond jewellery,launched exclusive for the Indian

consumer, would go a long way inpromoting diamond jewellery tradein India.

- Mr.Sushil Jiwarajka, Chairman,

FICCI WRC, said that integrationof }ewellery, Luxury and Fashionwould be the next step for the evergrowing gem and jewellery sector.He noted that the country'sjewellery market is changing fromjust being a storehouse of value toa fashion statement.

The technical sessions discussed

Policy & Regulatory Framework,Technology, Innovations in}ewellery Retail, }ewelleryFranchising, PR Strategies in}ewellery Marketing, Opportunities,Finance, and Luxury Retail.

The first industry seminar willbe followed by a second one in2011. The second industry seminaris planned to widen the scopeinvolving players from across allcities of India to develop awidespread group of professionalsin business.

Commissioner, SEEPZ SpecialEconomic Zone, at the conference.

Highlighting the findings of thereport, Mr. Anil Rajpal, VicePresident, Technopak Advisors,predicted that the domestic gemand jewellery industry would growto US$100 billion by 2015 from itscurrent size of US$45 billion.

Amongst others, the followingrecommendations were made:

industry status to gems & jewellerysector, technology upgradationfund for facilitating themodernization of the

manufacturing and designfacilities, setting up of goldexchange, building customer trust

Sohil Kothari

Managing Director, Fine Jewellery

Renu Kapoor

- Director, IIJ

THE RETAIL .JEWELLER I .JANUARY - FEBRUARY 2010 I 77

- Prabir Chatterjee elaborated on

the future of prototyping thatbrings with it an opportunity tokeep a large number of SKU insilver- Cz, without really investingan enormous amount yet ensuringthat the customer gets a widechoice of products.

The open house discussionsfollowing the presentations allowedthe attendees to voice their needs

and expectations within theindustry.

A FICCI-Technopak KnowledgeReport "Unlocking the Potential ofIndia's Gems & }ewellery Sector"was released by Ms. AnitaAgnihotri, Development

Industry FEEDBACK on FICCI Conference

Retai{ - ~ecia{ Events

Internationalc.

c,

• PGI : Vaishali BanerjeeCountry Manager"It is a great initiative. I think it isan important platform to geteveryone views. There is so muchknowledge within different peoplein the industry and it is importantwe can get so much knowledge onone page to chart out the future. Ithink it is important and should gowell."

• SHREE GANESHJEWELLERY HOUSE LTD:Mr. Nilesh Parekh, Kolkata"The FIcer conference on gems andjewellery will help the industrycome together to share views andstrategies for the futurechallenges. "

• MANGLAM THEJEWELLERY SHOWROOM:Mr. Rajat Manglam, Gwalior"Event like FICCIconference is wayfor making jewellery industry growin a united way, which gives a lotsof help to jeweller in promotingthere jewellery. I wish in future thistype of conference should be heldin Band C-tier cities, so that small

town jewellers can also be a part ofgrowth in jewellery industry"

• AGARAWALDIAMONDSMr. Harsh Agrawal, Bhopal"I was very impressed by theefforts put in by the organizers tohold such a conference for the veryfirst time that gave brilliantoutlook for the organized retailvalue chain in this industry which

would be very essential to thrive aswell as give a competitive edge inthe future."

• SUMAN JEWELLERY : Mr.Kamesh, Coimbatore"It was a good platform to discussissues related with our industry.Discussions with major playershelp one to understand whichconcepts have worked and whichhave not."

• GOLDSTAR : Mr. HemilModi, Mumbai"The FIcer conference on gems andjewellery has brought all themembers of jewellery Industry toaddress various issues of industryin their respective area to resolvethe same with an unanimous

solution. In future, if all types ofmember of industry such as vendor,manufacturer, stockiest, supplier,broker, retailers etc. from various

parts of our country meet in suchconferences, it will help theindustry to share views andstrategies of individual for thefuture challenges.

I would personally also like todiscuss new issues like competitionfrom other industries to our

industries, growth of our industriesin small town in our county,business of Gems & jewellery­Export vis-a-vis Domestic, Fordomestic - Business in Big City vis­a-vis business in small town etc. atsuch conferences for the future

growth of our industries."

• SANT RAM MANGAT RAMJAIN JEWELLERS: Mr.Rajan Jain, Chandigarh"I fully endorse such joint effortswhich are always a step towardsthe positive approach to prevailingcircumstances within the trade

which seriously needs to be takencare of and with majorparticipation. "

• KGK : Mr. Jitendra Jain, ,Mumbai"It was a great effort from FIcer tolaunch International Conference on

gems and jewellery. These effortswill surely help us to build moreconfidence on the prospect ofIndian gems and jewellery ndustry.This conference will surely give usa clear insight of what a Retailmarket is all about and how to stayahead in the most competitivesituation. I look forward to the 2ndedition of the conference. "

• ORRA: Mr. Vijay Jain"Mumbai"I think it is very interesting. Youget to meet other industry people.Therefore, it gives a great platformto exchange ideas. You also canshare with some your peers tounderstand their point of view inmore structured approach than just

a conversation. I also think that ~the conference associated with an

organization like FIcer gives thejewellery industry a far largercanvas on these two basic voices. I

think it is a great beginning andthey should organize theconference in other cities as well. "

78 I THE RETAIL .JEWELLER I ~ANUARY ~ FEBRUARY 2010