JewelBuzz Vol1 Issue 12

VOL 1 ISSUE12 | PRICE : Rs. 200

RNI : MAHENG/2016/66630 | SUBSCRIBER COPY NOT FOR SALE

I N D I A’ S P R E M I U M M AG A Z I N E O N T H E B U S I N E S S O F J E W E L L E RY

MAKE INDIA AN INTERNATIONAL DIAMOND TRADING HUB: MODI

4th IIBS BRINGS INDUSTRY THOUGHT LEADERS TOGETHER

SWAROVSKI PRESENTS

GEM VISIONS 2018

JOURNEY OF GJF WITH AN EXCLUSIVE INTERVIEW NITIN KHANDELWAL

Priceless Threads for immortal Memories

199/201 Solitaire Chambers, 1st Floor, Kalbadevi Road, Mumbai - 400 002. INDIA. Tel.: +91-22-43111222 • Email.: info@shringar.ms • Web.: www.shringar.ms

www.rmjewellery.com

Balaji Complex, 2nd Floor, 81, Ibrahim Sahib Street, Bangalore - 560 001. +91-80-2558 2364 | 2559 4364 | 99027 74400

REDEFINING RULES OF JEWELLERY BUSINESS For the first time in India 100% return | exchange | buy back Free logistics delivery pan India Excise registered products All products below 2 lakh UID code compliance 99.9% stone less

(0.1% error and omission in weighing scale)

100% track record for BIS hallmarking

RM JEWELLERY THE JEWELLERS' JEWELLER

Email : info@rmjewellery.com

We are now in Delhi too. Contact : Shekhar Guru, +91 98110 58591

www.penitup.com

1st ethical jewellery manufacturer in India

F RO M T H E P U B L I S H E R

From the Publisher ‘Hope is the waking dream’ by Aristotle becomes a true statement with GST regime implementation. It will turn India into one common market, leading to greater ease of doing business’. The jewellery industry too is gearing up for GST which is slated to be implemented from July 1st. Several jewellery trade bodies has capped for different GST rate slab. Let’s hope that whatever the GST rate govt finalises, it will help the industry to grow.

This issue our cover story depicts journey of GJF in two parts. The first part takes you to its inception to its dedication, support to the jewellery trade. The article also provides insight into its initiatives, objectives, and future plans. Whereas, the part II will feature the experiences of the past chairmen who successfully directed GJF and shaped the way Indian GJ industry operates today in our forthcoming issue.so stay tuned!

The 4th edition of India International Bullion (IIBS) which was held in Mumbai recently captured the industry changes post demonetisation.

The eminent industry leaders sharing their view and thoughts were very inspiring and presented a clear depiction of benefits of demonetisation for the industry.

Every industry goes through challenges and competition, but finding opportunities in challenges is an art. I stay strong on saying that our Indian GJ Industry’ has mastered the art of being tough and optimistic in difficult times.

Our other regular columns like Center Stage, Management, Retail Store Lighting will endure you with stimulating content and is a visual treat. With Gudipadwa in Maharashtra and Ugadi in Karnataka, wishing our readers good times ahead… Happy Reading…

VOL 1 ISSUE 12 RNI : MAHENG / 2016 / 66630

Publisher VIVEK KABRA Editor ASHIKA KABRA Content Creation & Design PENITUP.COM PHANI GIRISH ROOPESH MAVICHERY SUCHITHRA PILLAI ADVISORY BOARD RAJENDRA JAIN Swarovski Gemstones Business VISHAL GANDHI Tiara Fashion Jewellery Business Developement & Tie-ups +91 98190 66366

vivek@jewelbuzz.in

Sales & Subscription VINOD BHAMARE +91 98695 40919 sales@jewelbuzz.in Supported by

AM MEDIA HOUSE

Corporate Office : 2/69, Sahyog Building, SV Road, Opp. Lohana Samaj Wadi, Kandivali (w), Mumbai - 067. | +91 22 2866 0762 / 63 mail@jewelbuzz.in Registered Office : N- 10/2, Ganpati Niwas, Bangur Nagar, Goregaon (W), Mumbai - 400 090 Bangalore : #139, 2nd B Cross, SSR Layout, Dr. Shivram Karanth Nagar, Bengaluru - 560 077 Jaipur : # 2032, BTC House, Pitleyon Ka Chowk, Johari Bazar, Jaipur - 302 003

Vivek Kabra

vivek@jewelbuzz.in

8

JEWELBUZZ | VOL 1 ISSUE 12

/JewelBuzzMag

Printed at : JAYANT PRINTERY LLP 352/354, Muralidhar Temple Compound, Near Thakurdwar PO, J.S.S Road, Mumbai - 400002

I N T HI S I SS U E

VOL 1 ISSUE12 | PRICE : Rs. 200

RNI : MAHENG/2016/66630 | SUBSCRIBER COPY NOT FOR SALE

VOL 1 ISSUE 12

EVENTFUL PN GAGDIL | MUTHOOT | DIVINE SOLITAIRES

THE JOURNEY OF GJF PART 1

4TH EDITION OF IIBS

STORE LIGHTING

JYPL BRINGS JEWELLERY FRATERNITY TOGETHER

60

MARK YOUR DATES 10

JEWELBUZZ | VOL 1 ISSUE 12

LATEST COLLECTIONS

MINES TO MARKET MAKE INDIA AN INT’L DIAMOND TRADING HUB

MANAGEMENT 4 WAYS CEOS CAN CONQUER SHORT-TERMISM

TRENDS2018 SWAROVSKI PRESENTS GEMVISIONS 2018

56

Jewellery Youth Forum

EXHIBITIONS LIST

JOURNEY OF GJF

CENTRE STAGE

48 50

EVENT

2018

36 42

STORE DESIGN

GEM VISIONS

22 34

IIBS 2017

SWAROVSKI PRESENTS

12 16

COVER STORY

4th IIBS BRINGS INDUSTRY THOUGHT LEADERS TOGETHER

64

EXHIBITIONS BGJF | HKTDC | GJIIE

WITH AN EXCLUSIVE INTERVIEW NITIN KHANDELWAL

COVER PICTURE COURTESY:

IN THIS ISSUE

MAKE INDIA AN INTERNATIONAL DIAMOND TRADING HUB: MODI

SHILPI JEWELLERS PVT LTD

I N D I A’ S P R E M I U M M AG A Z I N E O N T H E B U S I N E S S O F J E W E L L E RY

EVENTFUL

From Goa to New Jersey, Raveena Tandon adds shine to PNG’s store launch

P

NG Jewellers further fortifies its presence in the USA by launching its third store in New Jersey on 18th March, 2017. The store was inaugurated

by Bollywood diva Raveena Tandon in presence of Saurabh Gadgil,, Chairman & Managing Director and other dignitaries.

This 4000 sq. ft. spacious and elegant showroom located in the heart of the city, accomodates exquisite pieces of Minakari, Jadau, Kundan, and the classic understated patent yellow gold, diamond, contemporary and silver jewellery for the Indian expatriate customers. They even have products that will cater to the international audience.

PNG Jewellers has two store in US, located in Sunnyvale and Fremont. US is one of the most prosperousl economies, it has a great deal of Indian and South East Asian expatriate population.

Speaking on this occasion Saurabh Gadgil stated, “Our success in US from our stores in Sunnyvale and Fremont is evident with the positive response we have received from our customers, and we will take this opportunity to repeat the same by inaugurating ourthird store in New Jersey. There is strong presence of Indian community in New Jersey hence, we are committed to offer them the best Indian retail jewellery shopping experience. Our wide range of designer jewellery pieces will add value to this experience.”

I

ts second store launch in Goa on 10th March, 2017 was unveiled by Raveena Tandon in presence of Saurabh Gadgil .

Parag Gadgil- Executive Director, PNG Jewellers amongst other dignitaries.

Spread across 3500 sq. ft. spacious and elegant showroom located in Margoan, right In the middle of the main market.

The showroom flaunts with magnificent pieces of Minakari, Jadau, Kundan, and the classic understated patent yellow gold, diamond, contemporary and silver jewellery. They even have products that will cater to the international audience.

Parag Gadgil, Director of PNG Jewellers shares, “We have been blessed on receiving great support from our consumers, which has helped us in winning many remarkable achievements. This store launch is one of them. This is a tribute and reverence to everyone for making PNG Jewellers a grand success and supporting our journey”.

PNG Jewellers inaugurated Goa’s first store in Panaji, located towards the north of Goa, in Feb 2015. The brand has received tremendous response and support.

Raveena Tandon shares, “It gives me immense pleasure to inaugurate another PNG Jewellers showroom here, in Goa. I have always been passionate about jewellery and great craftsmanship; hence I take great pride to be associated with the brand. I would like to congratulate them for all their successive ventures and would like to wish them the very best for their future endeavours”.

12

JEWELBUZZ | VOL 1 ISSUE 12

EVENTFUL

Muthoot Exim & Divine Solitaires launches Swarnavarsham Diamond Jewellery

H

igh quality diamond jewellery has finally become affordable and accessible for everyone. Muthoot Exim Pvt Ltd., the precious metals division of the 130- year –old business conglomerate Muthoot Pappachan Group, has launched Swarnavarsham diamond jewellery in association with Divine Solitaire’s Pratham diamonds.

The launch was graced by dignitaries from both Muthoot Pappachan Group and Divine Solitaires which include Thomas Muthoot (Executive Director, Muthoot Pappachan Group), Keyur Shah (CEO, Muthoot Precious Metals Division), Jignesh Mehta (Founder and Managing Director, Divine Solitaires), Shailen Mehta (Co-founder and Director, Divine Solitaires) and Hitesh Mehta (Director, Divine Solitaires) amongst others.

Muthoot Swarnavarsham diamond jewellery with Pratham diamonds which is an extension of the parent brand Divine Solitaires is available in tamper proof see through packaging and comes with a Quality Guarantee Certificate & Buyback Guarantee.

Muthoot Exim’s Swarnavarsham Diamond Jewellery will be available initially at 76 branches of Muthoot Fincorp Ltd.

Divine Solitaires bags ‘Times Retail Icon 2017’ award for Best Solitaire diamonds brand

D

ivine Solitaires was the privileged recipient of the prestigious Times Retail Icon Award 2017 in the diamond solitaires industry. These awards are conferred upon industry leaders across various categories for their excellence.

Divine received the award in solitaire diamonds in the jewellery category for brand building, product offering, consumer centric policies such as transparent nationwide pricing, best quality diamonds with exclusive guaranteed quality parameters.

The Award was received by M/s Jignesh Mehta and Shailen Mehta, DirectorsDivine Solitaires from the Mayor of Mumbai at a glittering function held at St Regis Hotel,Lower Parel, Mumbai and attended by various dignitaries, and business leaders from many industries.

14

JEWELBUZZ | VOL 1 ISSUE 12

C E N T RE STAGE

SPRING IS IN THE AIR DWARKADAS CHANDUMAL JEWELLERS PRESENTS SPRING-SUMMER COLLECTION The spring summer collection

by Dwarkadas Chandumal Jewellers unveils a plethora of colours that complement all occasions. Inspired by nature’s beauty, each creation dictates the enigmatic charm that nature exudes and infuses into our senses. This exquisite range of rings, bracelets and earrings narrates bold statements which are multi-coloured combined with unconventional graphic shapes that emphasize your confidence and uniqueness.

16

JEWELBUZZ | VOL 1 ISSUE 12

C E N T RE STAGE

RESPLANDOR DIAMOND JEWELRY COLLECTION BY MINAWALA Minawala, the luxury precious jewelry sovereign presents Resplandor- a splendid new collection of contemporary diamond jewelry for its patrons.

Simple but breathtaking, the assortment has the most beautifully cut diamonds, ensuring a look that is exceptional. This one of a kind collection promises to add elements of panache and luxury to your treasure trove and will surely enthrall you with its unique designs.

18

JEWELBUZZ | VOL 1 ISSUE 12

C E N T RE STAGE

COLONIAL QUEEN

BY DWARKADAS CHANDUMAL JEWELLERS Dwarkadas Chandumal Jewellers presents its latest majestic splendid additions boasting of eloquent designs.

Flourishing vivid designer jewels with the intense magnificence of emeralds, each piece in Colonial Queen

by Dwarkadas Chandumal Jewellers strikes an elegant pose with a glint of green. Radiating royalty, this collection is a lavish amalgamation of jewel treasures and conversation starters.

VIBRANT ENSEMBLES BY VELVETCASE.COM Velvetcase.com, India’s multi-brand jewellery destination launches its latest, Vibrant Ensembles range, this season.

The collection comprises of stunning earrings and bangles encrusted with colorful stones bringing out the lively mood of the festivity. Ranging from fashion to fine jewellery, crafted in sterling silver and white gold, the pieces are embellished with exciting topaz in tint of blues and citrine to dazzling emeralds.

20

JEWELBUZZ | VOL 1 ISSUE 12

just2dial - 9819953885

w : muktigold.com e : muktigold@gmail.com e: muktidiamonds@gmail.com t : +91 9821237189 | +91 9819603187 | +91-22-4911 8316

COV ER STO RY

THE JOURNEY OF GJF PART-1

Progress, Protection & Promotion of trade as its core

22

JEWELBUZZ | VOL 1 ISSUE 12

All India Gems & Jewellery Trade Federation (GJF) is a national trade federation established with an objective to address the jewellery industry and its functioning. It is dedicated with a 360° approach to promote the trade, support, skill development, upliftment of karigars and much more. In this twin series article, JewelBuzz takes you through the journey of GJF, its initiatives, programmes and people - past chairmen, office bearers, team, and its affiliates in one of its kind coverstory. The first part includes the history from inception, the objective, future plans and an exclusive interview with Nitin Khandelwal, Chairman, GJF. The second part will feature the association and experiences of past chairmen who successfully led GJF and shaped the way Indian GJ industry operates today.

As a self-regulated trade body, GJF, since the last 11 years, has been serving as a bridge between the Government and the trade as well as undertaking various initiatives on behalf of and for the industry.GJF represents the interests of over 4,80,000 gem and jewellery businesses (that includes Members, over 100 affiliations to various associations from across the country). GJF represents various industry segments such as manufacturers, retailers, wholesalers, allied, gold, silver, and platinum, diamonds, Gem stones, machinery, etc. including the entire industry value chain from bullion to retail.

GJF also undertakes various initiatives and programmes that are aimed at improving industry business practices, promote compliance, standardization and transparency, promoting professionalism for the growth and development of the industry sector. The organization also initiates various promotional activities to further retail businesses as well as manufacturing segments through various dedicated platforms designed for the purpose.

Pan India presence with head office in Mumbai, the apex body has regional officies in Delhi, Nagpur, Chennai, Raipur, Kolkata, and Bangalore.

VOL 1 ISSUE 12 | JEWELBUZZ

23

COV ER STO RY

Mission GJF’s mission is to support and promote the progress and prosperity of all the members in the Gems and Jewellery industry across India.

Membership GJF provides ordinary membership to the trade, under which there are many sub categories, such as Lifetime members and annual memberships.

Objectives •

To form a single minded body of members who have come together for a common interest.

•

A body, that represents the trade on national issues affecting the smooth functioning of business.

•

To promote proficient trade practice, by structuring high quality standards in every aspect of business.

•

Promoting the trade, by participating in promotional events on a national level, trying to enhance indigenous markets by uplifting the trade and incorporating the joys of shopping of gems and Jewellery in the country.

•

Encouragement of trade through the organization of consumer exhibits in India that elevates business and promotes its members.

• •

Initiating a Jeweller’s credibility program and issuing Store Certifications.

Initiating educational and research institutes that help in developing superior quality and high standards for effective functioning of the trade.

Philanthropic initiatives

National Jewellery Awards (NJA)

GJF also undertakes various CSR activities on behalf of the industry workers to promote and ensure safe and secure working environment for its large workforce.

GJF accords recognition and award through the National Jewellery Awards (NJA) platform annually to stimulate talent, honor innovation and creativity of the jewellers & designers to boost the industry.

NJA is one of country’s most prestigious award that honors the work of designers and manufacturers in various categories such as Jewellery Awards, Excellence Awards, Artisan / Craftsmen Awards, Students Awards.

Skill development programmes All India Gems and Jewellery Trade Federation (GJF) is one of the Founding members of the GJSCI, an initiative of by the Government of India under National Skill Development Corporation (NSDC) to promote Occupational Standards and creation of infrastructure to provide training and develop career opportunities in the industry for the emerging workforce.

24

JEWELBUZZ | VOL 1 ISSUE 12

Preferred Manufacturer of India (PMI)

Abhushanam A B2B initiative, Abhushanam is a networking meet organised for jewellers with the objective of encouraging people from the jewellery trade to interact and forge strong business relationships. The event brings together prominent manufacturers and retailers at regional levels, thereby encouraging face-to-face interactions to promote business across the various regions and

The PMI programme is GJF’s exclusive B2B marketing platform for Manufacturers & Wholesalers, providing 360° solutions to participants by fulfilling several business objectives, including enhancement

boosting businesses, besides allowing for healthy exchange of opinions and views with the view to address various challenges faced by the industry at local levels.

of the brand’s image and expansion of market share by establishing and reinforcing business relationships with prominent retailers of India.

The platform enables businesses to focus on increasing profitability by offering them a competitive advantage, save time as well as reduce marketing and promotional costs.

PMI participants over the course of the programme duration have the opportunity to engage with some of the leading retailers from across the country.

Select retailers are invited to these exclusive shows and are hand-picked to ensure best matching of buyer-seller profiles with the aim to ensure successful and mutually beneficial relationships.

GJF Fashion Nite

The regional meets also include Jewellery retailers

An annual event with an objective of creating a

from the respective zones and comprise business

networking platform for industry members to meet

owners of mainly large single stores and multi store

and forge relationships between business owners

formats from 2 and 3 tier cities and towns.

accompanied by entertainment and dinner. The

The PMI participants comprise the country’s leading manufacturers of Gold, Diamond, Studded Jewellery and more and are renowned for the quality and range of products as well as innovation and exclusive designs. As the Preferred Manufacturers of India, the manufacturers also offer retailers with immaculate service levels besides product distinction.

event provides the perfect opportunity for the trade to relax, while exploring real business opportunities. It receives and attendance of about 1600 members of the fraternity and the programme highlights include fashion shows featuring leading Indian models and celebrities showcasing some of India’s finest jewellery creations by renowned jewellers.

VOL 1 ISSUE 12 | JEWELBUZZ

25

COV ER STO RY

Labham

GJF Trustmark

Labham is an educational initiative that addresses

Systems and Process Certification Programme

the vital need of helping the gems and jewellery

for the trade, Trustmark is based on the principle

industry to be on par with today’s intensely

of continuous improvement to help jewellery

competitive business environment.

businesses to strategize, plan and grow both top

The day long training programme has been specially conceived and designed to help jewellers enhance their knowledge and run their businesses more effectively and efficiently creating efficient business models along with knowledge of rules and regulations will ensure steady growth and prosperity for the industry.

line and bottom line. The programme is built with the objective to promote transparency between the industry and end-consumers, enhance credibility of the jewellery businesses as well as enable fund-raising for the industry. Trustmark model for GJF was developed by the international organization ISOQAR from UK.

Power Packed Modules of Labham: 1). Key Finance & Banking, Taxation and Accounting related key aspects 2). Key regulatory compliance related aspects 3). Operations management 4). Standardization and Certification

Jewellers Identification Card (JID) With the emergence of focused separate manufacturing, wholesale and retail centres across

Leadership Summit

the country, the industry relies heavily on logistics and distribution functions. In order to curtail the hardships and challenges faced by jewellers during the movement of gem and jewellery parcels, GJF, with

Aims at promoting overall growth and progress

the approval of MSME Ministry has developed the

of the industry by empowering industry players

Jewellers Identity Card (JID), which allows concerned

with effective leadership skills. It is a platform

authorities to validate the carrier as a genuine

offered to industry members to “lead and learn”

and bonafide member of the industry. It is an

thereby furthering development and profitability to

independently verified card programme developed

their businesses. It covers a wide range of topics

by GJF along with Medi Health Solutions Pvt. Ltd.

including, Branding, Retailing, Leadership Qualities, Indian Economy/ Finance, Teamwork, etc.

26

JEWELBUZZ | VOL 1 ISSUE 12

THE JOURNEY OF GJF AT A GLANCE PROTECT

11

JUN 2009

The organization handed over a memorandum of industry demands to the Union Minister of Finance. GJF has since 2008 made several representations to the Minister of Commerce

and Industry as well as top government officials on the formation of a national council. Since its inception it has been preparing pre-Budget recommendations. It invites opinions and recommendations from across the nation and sends the same to the Union Finance Minister for due consideration.

17

MAR 2012

GJF spearheaded a nationwide agitation and protest march against the 2012-13 Budget proposal of excise duty on jewellery. The GJF

27

JUN 2013

associations across India. On May 7, 2012 the Union

19

JUL 2013

29

JAN 2013

A special meet of GJF members to discuss the Prevention of Money Laundering Act, the Hallmarking Act, and the 2013 pre-Budget proposal.

industry and banking sectors participated in this

Delegation made a representation to the CBCE, the Ministry of Consumer Affairs and Directorate of Revenue Intelligence (DRI) on the gold crisis, following restriction on import

Prevention of Money Laundering Act, weight and measures and other pressing issues.

Delegation presented the government with its

AUG 2013

Swarn Bhachao Abhiyan, a project envisaged to utilize the gold lying idle with Indian households and thus help the government to save on

foreign exchange and control current account deficit.

is representing industry case on hallmarking before the Ministry of Consumer Affairs and BI.

of the industry as well as members of the allied

of gold, customs duty hike, mandatory hallmarking,

Finance Minister announced his decision to withdraw excise duty on branded and unbranded jewellery. The GJF

on gold in association with the FICCI. Leaders

discussion on gold policy in India.

declared a five-day-long nationwide jewellery

‘bandh’ and supported a 21-day-long ‘bandh’ by local

Convened a high-level round table discussion

Along with GJEPC held a joint meeting to

AUG 2013

discuss the gold import policy and other issues faced by the industry. The GJF thereafter apprised the Union Minister of Commerce and

Industry on the GJEPC’s expression of its inability to take care of the domestic sector.

GJF delegates met the director general of

07

FEB 2013

Met Union Minister for Consumer Affairs and appraised him about the issues plaguing the measures and ban of cadmium in jewellery

Conducted a nationwide press conference

income tax investigation, Mumbai, with regard to hassle-free jewellery transportation across various states.

industry.Mandatory hallmarking, weights and

were discussed in the meeting.

JUN 2013

JUL 2014

In March 2015, delegation met additional

MAR 2015

secretary – investments to discuss the proposed Gold Monetization Scheme. During March and May 2015, the GJF organized press

on the gold crisis that was triggered by

conference in 12 different cities across India and held

restrictions on import of gold. In July 2013, the

meetings with the government to show industry concern

GJF delegation made a representation to the

on the imposition of compulsory PAN card requirement

Central Board of Customs and Excise (CBCE).

on jewellery sales over Rs 1 lakh.

VOL 1 ISSUE 12 | JEWELBUZZ

27

COV ER STO RY

18

MAR 2015

Met Union Minister of State, Home Affairs, Union Minister for Commerce and Industry, Commissioner-Investigation, Central Board

Past Chairman and Current Director,

JUL 2016

of Direct Taxes, and Director General, Central

Industrial Security Force on Jewellers Identification Card

Mr. Ashok Minawala was part of the HLC, wherein Government has released various circulars and notifications, accepting most of

the demands made by the jewellers.

(JID) and various issues that impact the movement and transit of gem and jewellery goods across the country.

GJF COA Election December 2016: GJF

11

JUN 2015

01

OCT 2015

The gem and jewellery industry raised Rs 1.23

DEC 2016

conducted COA election through an online process. This was immensely supported by all members with over 70% voting.

crore for Nepal earthquake victims. The funds raised were handed over to Amit Shah, BJP president.

The trade organized an interactive seminar with income tax officials for the benefit of its members.

The PAN card limit of 2 lakhs and above w.e.f

DEC 2015

from 1st Jan, 2016 was announced in December 2015, and since then GJF has played a very active role in representing this issue to the Govt.

GJF representation on GST: GJF has taken GST The Union Budget 2016, levied Excise Duty

MAR 2016

on the Gems & Jewellery sector, wherein GJF played a very vital role in removing the fear of Excise Raaj amongst the trade and bringing in

DEC 2016

representation on war footing by meeting Finance Minister Arun Jaitley, more than 15 State FMs and many important Government

Bureaucrats.

ease of business with support from the Government.

PROGRESS Held seminars on technical aspects of

Between 2005 and 2010, the GJF held interactive

2005 2010

trade meetings in urban and rural areas, educating the industry on new developments and disseminating knowledge on the importance

of local associations joining the national federation.

FEB 2006

manufacturing, adoption of new technology and machinery to increase production and cut loss of gold in manufacturing. Organized

jewellery design contest for jewellery artisans and designers between September and November 2006.

28

JEWELBUZZ | VOL 1 ISSUE 12

In 2007-08 GJF affiliated local associations all across

2007 2008

India. Incentives were given to local associations for regional development. GJF organized conferences with industry leaders on the road ahead for the

29

In 2005, newsletters were devised as a way to

SEP 2013

In September 2013, we conducted regional

JAN 2013

disseminate knowledge and information on industry issues, events and happenings.

industry called Industry Authorities Meet

2009

04

JAN 2010

In 2009, GJF implemented uniform gold rate policy across India for the benefit of customers

meetings and Unnathi at Nasik, Maharashtra.

A MoU was signed with the Israel Diamond Institute for promoting positive relations between the gems and jewellery industries of both countries and to enhance areas of

cooperation between them.

12

FEB 2010

In December 2013, Star Scheme, a programme

Vinaya, a grand educational summit, was conducted in more than 24 cities across India.

Planned and implemented by the GJF it gave

DEC 2013

meant for training the sales associates of jewellers under the aegis of the National Skill Development Corporation completed 147

an opportunity to retail jewellers to improvise

working standards, adopt new technologies and

batches across India. The western region comprising

modalities to enhance business.

Maharashtra and Gujarat has 55 per cent share while the southern region has 34 per cent share.

23

JUL 2016

GJF felicitated Honorable PM Shri. Narendra Modiji, in august presence of Mr. Amit Shah, Mr. Piyush Goyal and Mr. Santosh Gangwar at Vigyan Bhawan, New Delhi. The event was a massive

success and the trade acknowledged and thanked the support provided by the Government on the Excise issue.

In January 2011, scheduled a leadership

JAN 2011

summit on various subjects to help jewellers mobilise valuable information on industry related topics. From 2011 to 2014 the

leadership summit was organized every year.

In November 2011 the first intercity networking

NOV 2011

meet of Preferred Manufacturer of India was launched in Hyderabad. Till date two PMI programmes have been successfully organized

with two grand meets and five regional meets each. PMI 3 was also launched recently in Hyderabad.

Opened its first

JAN 2012

regional office in

04

FEB 2017

Chairman and COA Installation ceremony: GJF conducted installation ceremony of Chairman, Vice Chairman and the new COA in august presence of Shri Ajay Sancheti ji.

Kolkata. It was part of the Federation’s

long term plan to decentralize its operations and be more proactive in its efforts to address the concerns.

VOL 1 ISSUE 12 | JEWELBUZZ

29

COV ER STO RY

PROMOTE OCT 2006

World’s largest jewellery festival, Lucky Lakshmi,

associated with the FICCI on International Brand Conclave

to incentivize customers and increase footfalls

2009, Vision & Trends, Focus Sector Gems & Jewellery.

in retail outlets in 2006. With the support of the Ministry of Commerce, the WGC, DTC and the

Maharashtra Tourism, GJF executed Lucky Lakshmi in 118 cities in 18 states generating Rs3000 crore revenue.

09

JUL 2009

A seminar on business development and future growth in GJ industry was organized at Hyderabad, Mumbai, Bhopal & Indore.

The GJF organized seminars jointly with the GJEPC on the growth of the industry at IIJS 2009

09

JAN 2010

The Marathwada Jewellers Meet that was attended by jewellers of eight districts of Marathwada on January 9, 2010 was organized.

The GJF supported the jewellers meeting at

Nasik on January 10, 2010. The meeting was attended by more than 10,000 swarnakars from across the state.

In 2007, a seminar was organized in association with

2007 2008

FEB 2008

KPMG on quality standards and retail science.

MCX seminar was organized for understanding

Educational seminars, workshops and

advantages, features and benefits of hedging on January

development programmes were held in 2007-

11, 2010. This was conducted by the members of Dadar

08 in association with IIJ.

Jewellers Association, Mumbai.

The GJF, along with the GJEPC, organized

A FICCI-Technopark knowledge report on Unlocking the

meets with a Japanese business delegation in

Potential of India’s Gems & Jewellery Sector was released

February 2008.

on January 15, 2010.

In May-August 2008, GJF organized the Smart Jeweller, a unique CRM programme for manufacturers.

The GJF associated with BIS on a seminar on Safe Storage of Valuables in Jewellery Establishments in Jan 2009. GJF

Organized manufacturers and wholesalers meet

APR 2013

in Mumbai. The purpose of the meet was to boost the business prospects of manufacturers and wholesalers and form a committee.

New administration committee take the helm at GJF

In an official ceremony held on February 4, 2017 in

the jewellery industry. Elected through e-Voting, the

Mumbai, appointment of GJF’s new chairman Nitin

18-member COA of GJF encompasses of zonal chairmen

Khandelwal, vice chairman Pramod Agrawal and the new

- Shankar Sen (East), Vijay Khanna (North), N Anantha

committee of administration (COA) were announced.

Padmanabhan (South) and Nitin Khandelwal (West).

Nitin Khandewal formally took over GV Sreedhar and

The entire e-Voting election process was conducted by an

will be serving the term from 2016-18. The installation

authorized independent person (Chief Election Authority),

ceremony was graced by Ajay Sancheti, Hon. Member

and the voting platform was created by a digital agency,

of Parliament (Rajya Sabha) and motivational speaker

both appointed by GJF. The electronic voting facility

Dr. Vedprakash Mishra amidst other dignitaries of

conducted hasslefree election of various panel & zones.

30

JEWELBUZZ | VOL 1 ISSUE 12

GJF efforts on GST

G V Sreedhar, Anantha Padmanaban with Industry delegates met Kerala FM Dr. T M Thomas Issac

G V Sreedhar, Sankar Sen, Manoj Jha along with Industry delegates submitted the representation to FM of Bihar, Shri. Abdul Bari Siddiqui

Sanjay Jain and industry delegates with Chhattisgarh FM Dr. Raman Singh

Sumeet Anand and Vardhaman Kothari with Industry delegates submitting representation to Madhya Pradesh FM Jayant Kumar Malaiya

Sanjay Sanghi, Mukul Kulkarni and Avinash Gupta with Telangana FM Etela Rajender

Over the past 11 years, GJF has played a vital role in working efficiently on all the three important verticals of Progress, Protection and Promotion of trade. It has made path breaking advances that have changed the lives of millions of people engaged in this profession. All projects listed above are a testimony of the dedicated efforts of the GJF. All who represent GJF have one thing in common — selfless service. GJF has attained the coveted status of the single largest national trade body.

Today, GJF is proud to state that it has the well-being of fellow jewellers at its heart and will continue to serve in the best possible manner and strive towards building a brighter and better tomorrow for the industry. It is also privileged to have the trust and faith of the entire jewellery fraternity across the country.

CHAIRMAN’S CLUB

TO BE CONTINUED IN PART 2

Sucess of any organisation depends on the team it has and most importantly the leaders who led it. The past chairmen of GJF have not only played a key role in providing direction to the GJF during their tenure but contributed for the growth of the industry. The readers will get to know about their experiences in the second part of ‘The Journey of GJF’.

VOL 1 ISSUE 12 | JEWELBUZZ

31

COV ER STO RY

EXCLUSIVE INTERVIEW

Taking everyone along on the path of progress A firm believer of unity in strength, Nitin Khandelwal wants every individual in the industry to join hands in making the jewellery industry a better place.

Newly elected as the Chairman of All India Gems and Jewellery Trade Federation (GJF), he speaks about the GJF, its role in present scenario, its objectives and his approach to reach those objectives. In an exclusive oneto-one with Phani Girish, Khandelwal highpoints the mission, vision, and future plans to make GJF’s reach in every Indian district.

NITIN KHANDELWAL CHAIRMAN, GJF

You took over as the chairman at

GST is one of the major tax reform for the industry. How do you

the time when the industry is going a

plan to accommodate trade with the GST regime and other tax

challenging phase. What is your

compliance?

vision ahead?

This is where the Protection moto comes in. Let me explain. We have Challenges don’t perturb me instead

submitted our suggestions and demands to the govt, out of which three

they inspire me to face the situation

points I would like to stress upon.

accordingly. The industry is going through a crucial time with changes in economic

GST: We welcome the GST norm and it’s a pragmatic decision by the govt.

reforms but I see this as learning process

But every industry has its own modus operandi and so does jewellery

towards the upliftment of the trade. Such

trade. We have sought 1.25% GST for the gems and jewellery sector as

encounters give us strength to stay united,

they feel that it will help the industry to become compliant and organised.

prepare and find solutions. GJF with its

In this regard, we have met over dozens of state finance minister from

strong national presence always believed in

Kerala, Rajasthan, Bihar, Gujarat, Maharashtra, Andhra Pradesh to name

its moto- to Protect, Progress and Promote.

few. We had a fruitful discussion with Revenue Secretary, Under Secretary, Additional Secretary, VAT commissioners. We have given the strategical and

Our objective is to support the jewellers

logical explanation on 1.25% GST on jewellery and with this implementation,

across India by supporting, help them

98% of the jewellers will fall under this bracket giving revenue to the govt.

overcome the challenges and to do the

We have also requested to the Govt to permit us to give a representation

business with ease.

to GST council.

32

JEWELBUZZ | VOL 1 ISSUE 12

“We plan to reintroduce ‘Lucky Lakshmi’- a jewellery festival which was an effective and successful promotional activity of yesteryear.”

HSN Codes on Jewellery : The govt had stressed upon

objectives, including enhancement of the brand’s

maintaining different codes for each type of jewellery

image and expansion of market share by establishing

(eg; studded, filigree, plain gold etc). Preserving records

and reinforcing business relationships with prominent

for apiece jewellery is difficult as one single ornament will

retailers of India.

have many works like studded, meenakari work etc and this will create muddle as to which segment the

The Promotion aspect begins with reintroducing ‘Lucky

jewellery belong to.

Lakshmi’- a jewellery festival which was an effective and successful promotional activity of yesteryear. Our next

Hallmarking: Mandatory hallmarking is a positive and

NJA awards will be held in South India so that the industry

welcome move but the govt need to develop a good

well represented.

infrastructure to make it a success. In order to pace with the demand, more hallmarking centres required to be set up. It

GJF Fellowship Tours: We are planning to organise

should bring ease of doing business and not complications.

fellowship tours across the world to encourage our jewellers bring newer technologies and enhance

You elucidated about ‘Protection moto’ can you also

customer experience and services.

give an example of ‘Progress’ and ‘Promotion’ too.

You have given us a clear scenario of GJF with Sure, our Progress moto can be best explained with

examples. Which is your favourite initiative?

Labham and PMI.GJF has always worked for the welfare of the jewellers and trade. We created platforms like

All the initiatives are close to my heart as the primary aim

Labham -an educational programme on Best Business

of each initiative is to create awareness, share knowledge,

Practices and Compliance customised for the jewellers

supporting the jewellers and upliftment of the trade. But

to define business strategies in numerous ways. for

my dream is to bring GJF to 715 districts of India and to

the jewellers to come together. Now we are planning to

take NJA Awards to international level.

bring the Hindi version of Labham as 70 per cent of the jewellers are not well versed with English. Currently, the

What are the forthcoming plans of GJF

Labham has its presence in 30 cities which we plan to an extent it to 100 cities and webinar too is in the pipeline.

As the term, ‘Future’ is used, we are planning to set up a Youth Wing. As it’s the millennials world, it is very

Preferred Manufacturers of India (PMI)- An exclusive B2B

important to involve the new generation in the business.

marketing platform for Manufacturers & Wholesalers,

This way we get to exchange knowledge and experience

providing total solutions by fulfilling several business

promoting the trade.

VOL 1 ISSUE 12 | JEWELBUZZ

33

M I N E S TO MAR K E T

Make India an International Diamond Trading Hub: Narendra Modi

“My intention is to make India, which is already the cutting and polishing hub, into an International Diamond Trading Hub.” The two-day long International Diamond Conference Mines to Market organised

by The Gem & Jewellery Export Promotion Council (GJEPC) as part of its 50th anniversary celebrations concluded in Mumbai after intense discussions spanning an extensive spectrum of issues related to the different stages of the pipeline.

JewelBuzz brings you the detailed report of the discussion.

P

rime Minister Narendra Modi addressed the event through video conferencing and opined, “Our goal is to transform India in one generation. Since taking office, this government has placed emphasis on many transformative initiatives. ‘Make in India’ is one of them. Our aim is to make India a preferred destination for manufacturing. In the last fifty years, the gems and jewellery sector has accounted for four hundred and seventy five billion dollars of exports.

This is even though India has little diamond or gold production.

Another important initiative is Skill India. Skill India aims to ensure that new entrants to the work force have the necessary skills to contribute to the economy of the 21st century. The gems and jewellery sector employs 4.6 million people. Out of this, one million people are in the diamonds industry alone. Thus, the gems and 34

JEWELBUZZ | VOL 1 ISSUE 12

jewellery sector is a prime example of the potential of ‘Make In India’ and Skill India.”

The chief moderator of the conference Chaim Evan Zohar said that at the end of the deliberations there was much greater clarity on many of the issues that the industry has to address.

Evan-Zohar also pointed out that a key takeaway was the Indian industry had an excellent relationship with the government and this support would be invaluable in addressing current challenges. The conference also fostered interaction between the producers, the manufacturers and other sections of the pipeline and would

ensure better understanding in building cooperation to steer the industry forward. Key concerns like profitability in manufacturing, detection of synthetics and valuation were analysed and the path forward on many of these fronts was clearly presented.

Panel discussions begun with eminent speakers including Ghanshyam Dholakia, Stephane Fischler, Mavjibhai Patel and Sanjay Kothari discussing the proposition put forward by moderator Evan-Zohar that the mid-stream has been squeezed from all sides. Various interesting perspectives were put forward.

Promote diamonds as a safe and attractive investment The last segment of the morning session was addressed by the bankers – Biju Patnaik of IndusInd, P.N. Prasad of SBI and Kurt Looyens of ABN AMRO, and Linus Koh of the Singapore Diamond Exchange. The latter explained how the concept of the exchange was opening out new possibilities in the realm of transparency and easier accessibility to finance, and emphasised that the industry should realise that diamonds need to be also promoted as a safe and attractive investment. The three

Process took place. Moderated by Mark Van Bockstael, it had Feriel Zarouki of De Beers, Maurice of DRC and Sabyasachi Ray, ED, GJEPC as speakers. After Van Bockstael gave an overview of the discussions within the KP, and said that it was being discussed from 2002 onwards, the issue was addressed from the viewpoint of the producing country governments, with Maurice stressing the need to ensure fair value to producers to maximise beneficiation and boost development, as well as from that of the producer companies by Zarouki who said value needs to be determined by costs incurred and the saleability

“It is important for the industry to plan its growth. But that is not enough. It is also necessary for you to think of the weakest among you. GJEPC should consider taking a census of the lowest-paid and least prosperous persons in your industry, for example the workers living in places like Jaipur, Thrissur, Varanasi, Rajkot, Jaipur and Coimbatore. Can the industry ensure that every one of them is enrolled in the Government’s low cost social security schemes.” ~ Narendra Modi

The Opening Session of the International Diamond Conference focusing on the mining segment of the industry.

The highlight of the session on Marketing that followed was a presentation by DPA CEO JeanMarc Lieberherr and the interactive discussion that followed on the importance and role of generic marketing. But before that there was also an insightful presentation by Oded Edelman of James Allen.com which provided a peep into how innovative technology for diamond imaging and virtual reality was transforming the online experience while reaching out to the millennial generation.

bankers addressed issues related to the bankability of the industry and the amount of finance available given that some of the older banks have left the sector. They were unanimous that the degree of confidence was returning.

Moderator Rajiv P Mehta raised some thought provoking questions on size and impact of marketing budgets and whether the industry was investing enough in promotion.

Following a dramatic presentation

by Martin Rapaport on the State of the Diamond Industry, the session on Diamond Valuation, an issue currently being discussed by the Kimberley

M. P. Ahammed, Chairman, Malabar Gold & Diamonds, presented the views of the brick and mortar retail and said that the touch and feel factor was so important that offline retail would always continue to be important.

of the stones, and any attempt to standardise valuation could lead to commoditisation and a loss of the emotional value attached to diamonds.

The final session was devoted to the question of Certification which has gained in importance following cases of illegal mixing of natural and synthetic diamonds. The panellists, including Tom Moses of GIA, Ans Anthonis of HRD and Debbie Azar and Mark Gershburg of GSI, made brief presentations on their labs, on grading and testing machines and certification and said they were keen to work in close co-operation with the trade to prevent the contamination of the natural diamond pipeline by unscrupulous mixing.

VOL 1 ISSUE 12 | JEWELBUZZ

35

I I BS 2 017

4th Edition of IIBS brings thought leaders together to discuss key industry issues

T

he India International Bullion Summit hosted its 4th edition on 16th on 16th March, 2017 at Hotel Sahara Star, Mumbai.

Organised by India Bullion and Jewellers Association (IBJA), the summit was inaugurated in the presence of chief guests Ashish Chauhan, MD, Bombay Stock Exchange (BSE); Aram Shishmanian, CEO, World Gold Council in the presence of other dignitaries which included Mukesh Mehta, national president, IBJA; Mohit Kamboj, Immediate past national president, IBJA. “BSE is working with IBJA, a nodal body for bullion trade to set up a Gold Spot Exchange. The idea of Gold Spot framework in gift city was discussed which will allow foreigners also to trade gold contracts denominated in Dollars and create one more centre for price discovery,” stated Ashish Chauhan during the conference.

Some of the panellist who supported this Gold Spot Exchange were P R Somasundaram, MD, World Gold Council; Sudeesh Nambiath, GFMS Thomson Reuters; Prof. Arvind Sahay 36

JEWELBUZZ | VOL 1 ISSUE 12

from IGPC, IIM – A and Sanjeev Agarwal, Chairman – FICCI, Gems and Jewellery.

A Panel Discussion was also held for impact of GST on bullion and jewellery industry. The entire fraternity felt that government should not exceed revenue neutral rate while deciding the GST rate for Gems and Jewellery Sector. Many retailers also felt that higher GST rate on jewellery will bring down the consumer demand for

jewellery. However, bullion dealer also emphasised for reduction in Custom Duty on bullion.

IBJA Launches a slew of ventures during 4th IIBS

Hallmarking of jewellery was also discussed in this summit and it was confirmed by most of the jewellers that BIS is pushing the customers to buy un-hallmarked jewellery by framing rules which restrict hallmarking of only 14, 18 and 22 carat jewellery.

Representative from BIS and President of Indian Hallmarking Association were also present in this discussion. Impurity in silver and silver artefacts was also discussed and it was felt that Government announces compulsory Hallmarking for silver.

The Panel Discussions were moderated by Manisha Gupta, Editor – Commodities and Currencies, CNBC TV18 and Anil Singhvi, Markets Editor, CNBC Awaaz.

The Summit ended with 34 awards honouring the stalwarts of the industry in an unprecedented gathering from the gems and jewellery fraternity.

VOL 1 ISSUE 12 | JEWELBUZZ

37

I I BS 2 017

...and the awardees are

38

JEWELBUZZ | VOL 1 ISSUE 12

MFG of 92.5 Hallmark Silver �r��le�� Jewellery & Payal

Jaipur Factory

The World of Silver aims to educate the people of India on everything they need to know about their Silver purchase.

The World of Silver aims to maximize the industry's growth by monitoring and encouraging Silver consumption. Currently, only a handful of people with a specialized knowledge or interest understand silver's asset value. https://www.facebook.com/worldofsilver

Launched the World's rst Motorcycle Made of Silver in 2013.

Rolls Royce featured Silver Emporium in their Coffee Table Book in 2013.

In 2013 & 2015 India Bullion and Jeweller's Association (IBJA) awarded Silver Emporium as the 'Best Silver Manufacturer' in the Industry.

In 2014 & 2015 Gem and Jewellery Trade Council of India (GJTCI) Awarded Silver Emporium as the 'Best Silver Manufacturer' in India.

www.silverempo.com REGISTERED OFFICE & SHOWROOM Silver Emporium Pvt Ltd. Chambar Bhavan, 1st Floor, Opp. Abhinandan Market, 232/234, Kalbadevi Road, Mumbai-400 002.

Tel : +91-22-6157 0000 (30 Lines) 2240 0914 |2241 2712 Fax : +91-22-2240 4803

SILVER EMPORIUM EXIM LLP SHOWROOM : Shop No:199, Venkatachalam Street Behind Yellow Pages (Off. R.K.Salai) Mylapore, Chennai-600 004.

Tel: +91-44-4335 6057 Email : chennai@silverempo.com

SILVER EMPORIUM TRENDZ LLP SHOWROOM : 4A/5A, Grd Flr Siddharth Bldg., Factory Lane Off. L.T.Marg, Borivali (W) Mumbai-400 092.

Tel : +91-22-2898 4990 | 2898 4997 Email : borivali@silverempo.com

SILVER EMPORIUM SOUTHEX LLP SILVER EMPORIUM ARTIFACTS LLP SHOWROOM : 6-3-862/A & B SHOWROOM : 402, 1st Flr, Rajshree Shop No.6, Lal Bunglow Market (Next to Saklajee Market) Ameerpet, Hyderabad - 500 016 Near Avenue Road Circle Tel : +91-40-4020 3397 Avenue Road, Banglore - 560 002 Email : hyderabad@silverempo.com Tel : +91-4172 5151 | 4172 5152 Email : bangalore@silverempo.com

SEPL MANUFACTURING FACILITY & SHOWROOM : G1-795, Industries Area, Sitapura, Tonk Road, Jaipur-302 022 Email : jaipur@silverempo.com

I I BS 2 017

...and the awardees are

40

JEWELBUZZ | VOL 1 ISSUE 12

new newdimension dimensionof of of

AAA

bRILLIANcE bRILLIANcE bRILLIANcE PURE PUREbRILLIANcE bRILLIANcESwAROVSkI SwAROVSkIZIRcONIA ZIRcONIA PURE bRILLIANcE SwAROVSkI ZIRcONIA ASASbRILLIANT bRILLIANTASASA ADIAmOND DIAmOND AS bRILLIANT AS A DIAmOND LASER LASERENGRAVING ENGRAVINGGUARANTEES GUARANTEES LASER ENGRAVING GUARANTEES UNIQUE UNIQUE QUALITY QUALITYAND AND ORIGIN ORIGIN UNIQUE QUALITY AND ORIGIN

Authorized Authorized distributors distributors forfor indiA: indiA: Authorized distributors for indiA: sign sign internAtionAl internAtionAl rAmnArAin rAmnArAin & co. & co. mumbAi: mumbAi: T +T 9122 + 9122 3245 3245 3596 3596 / F/ +F 9122 + 9122 2345 2345 3596 3596 / SIGN.mUmbAI@GmAIL.cOm / SIGN.mUmbAI@GmAIL.cOm JAipur: JAipur:T + 91141 + 91141 2573 2573 500 500 / F/ +F 91141 + 91141 2574 2574 500 500 / JAIPUR@RAmNARAIN.cOm / JAIPUR@RAmNARAIN.cOm sign internAtionAl rAmnArAin &T co. chennAi: chennAi: T 9122 +T 9144 + 9144 2538 2538 2286 2286 9144 + 9144 3255 3255 0063 0063 SIGN.chENNAI@GmAIL.cOm / SIGN.chENNAI@GmAIL.cOm mumbAi: TT ++ 2345 6700 / F/ /F+F+ 9122 2342 5421 / mUmbAI@RAmNARAIN.cOm mumbAi: T 9122 + 9122 2345 6700 + 91141 9122 2342 5421 // mUmbAI@RAmNARAIN.cOm mumbAi: T+ 3245 3596 / FF ++F9122 2345 3596 / SIGN.mUmbAI@GmAIL.cOm JAipur: 91141 2573 500 2574 500 JAIPUR@RAmNARAIN.cOm trichy: 2702 361 / /FF/+F+91431 2701 228 / /SURESh@RAmNARAIN.cOm trichy:TT ++T 91431 + 91431 2702 361 +9122 91431 2701 228 / SURESh@RAmNARAIN.cOm chennAi: T + 9144 2538 2286 F + 9144 3255 0063 / SIGN.chENNAI@GmAIL.cOm mumbAi: 9122 2345 6700 2342 5421 mUmbAI@RAmNARAIN.cOm trichy: T +/ 91431 2702 361 / JN./ANDhERI F+ 91431 2701 228 // mUmbAI-400 SURESh@RAmNARAIN.cOm SIGNITY SIGNITY INDIA INDIA PVT. PVT. LTD. LTD. / 302 / 302 & 303, & 303, b -bwING - wING / SAGAR / SAGAR TEch TEch PLAZA PLAZA / ANDhERI-kURLA / ANDhERI-kURLA ROAD ROAD SAkI / SAkI NAkA NAkA mAIN mAIN JN./ANDhERI (EAST) 072 / INDIA / / (EAST) / mUmbAI-400 072 / INDIA T +91 22 2851 6876 F +91 22&22 2851 1675 / OFFIcE@SIGNITY.IN / www.swArovski-gemstones.com T +91 22 2851 6876 F +91 2851 / OFFIcE@SIGNITY.IN / www.swArovski-gemstones.com OCTOBER 2016 | JEWELBUZZ SIGNITY INDIA PVT. LTD. / 302 303, b -1675 wING / SAGAR TEch PLAZA / ANDhERI-kURLA ROAD / SAkI NAkA mAIN JN./ANDhERI (EAST) / mUmbAI-400 51072 / INDIA / T +91 22 2851 6876 F +91 22 2851 1675 / OFFIcE@SIGNITY.IN / www.swArovski-gemstones.com

M A N AG EME N T

4 Ways CEOs can conquer Short-Termism In a recent survey, 70% of respondents said that CEOs focus too much on short-term financial results, and nearly 60% said that they don’t focus enough on positive long-term impact. These findings mirror the growing chorus of voices in business and academia that point to short-termism as being a major threat to business.

I

t’s easy to fault CEOs for being too fixated on the short term. However, we believe that most CEOs don’t lack good intent. Rather, they’re missing a practical road map to beat back short-termism and build enduring firms — ones that deliver superior economic returns, make positive contributions to society, and inspire public trust.

We offer such a roadmap here, the outcome of a research project, at the Center for Higher Ambition Leadership, with 25 CEOs and their practices for mastering short-term pressures and creating longterm social and economic value, even in the toughest conditions. Here are four practices that stand out:

Tell a Story That Is Bigger Than Quarterly Earnings The CEOs in our study were adept at telling their company’s story. Great stories are credible, simple, consistent, and use both financial and nonfinancial metrics to link a long-term vision and firm values with a distinctive business strategy and focused operational priorities. Essential to the story is the company’s purpose.

42

JEWELBUZZ | VOL 1 ISSUE 12

Fred Lynch, CEO of Masonite, a 92-year-old company that manufactures interior doors and entry door systems, created a long-term value creation thesis that he called the Masonite “blueprint.” The blueprint included the company’s purpose, vision, values, and strategic goals, and fits on a single page. Purpose is the why, says Lynch: “Why do people get up and come to work in the morning?”

For people at Masonite, it’s not just about building doors; it’s about breaking down barriers. The company’s stated purpose is to “help people walk through walls.” Masonite fulfills that purpose not only with its door products but also by breaking down barriers to development for employees, through the company’s intensive training and leadership development programs, and in the larger community, by helping local high school students and newly immigrated workers find well-paying work and connect to resources that can help them thrive.

CEOs in our study repeated their companies’ stories often and consistently to all their stakeholders — employees, boards, customers, business partners, communities, and the general public. As Doug Conant, former CEO of Campbell’s Soup, put it, “I declared what we needed to do, and I was incredibly,

Export Enquiries Solicited +91 9930796231 | 9702222999 | 9930607475 raj.ethnicgold@yahoo.com

www.rajjewellers.co.in

M A N AG EME N T

obnoxiously consistent.” Keeping it simple, with five core strategies in his long-term plan, helped people remember his message.

A purpose-driven story of value creation that is clearly and powerfully told is a CEO’s first line of defense against short-term pressures. Once in place, it both generates commitment of employees and customers and puts the short term and the quarter in context as the immediate building blocks to longer-term goals. The story can then be referenced to justify business decisions that build, rather than erode, the fundamental assets that underlie longterm value creation: trust-based relationships and distinctive firm capabilities.

Muster the Courage to Set Realistic Targets

unrealistic growth, he could focus on investing in future growth and better supporting customers and employees. In 2015, for instance, he raised the base employee wage by 33%, to $16 an hour, and introduced an enhanced benefit program for employees with household incomes under 300% of the federal poverty level, potentially saving them thousands per year in health care costs. Aetna’s growth and employee investment strategy has paid off: Its stock rose threefold in the last five years, and it posted record revenue and earnings in 2016.

CEOs have a great deal of control over the financial targets they set. However, once the targets are decided on, the company must live up to them in order to build and retain credibility with investors.

Setting them high — too high to sustain for long — is a tempting way to drive performance. But the pursuit of those performance goals may drive bad decisions and harm the company’s long-term prospects. Setting realistic targets is only possible after thoughtful analysis, and requires the board’s agreement along with a good measure of courage from the CEO.

Adopt a Both/And Performance Mindset

The quickest way to spring the short-term trap is to set overly ambitious targets — the kind that make the CEO a hero with investors in the short term, but threaten the long-term plan by, for instance, skimping on scheduled maintenance, cutting R&D investment, and shrinking travel and training budgets.

Mark Bertolini, CEO of Aetna, began his tenure, in 2010, by lowering targets by over one-third, in a single bold move. Bertolini observed that many of his peers had been promising 15% earnings per share (EPS), even during the financial crisis of 2009.

Bertolini knew that such unrealistic targets would create problems. “If you promise those kinds of returns, you’re going to do stupid things to your company and to your fundamentals to make that 15% work.”

Bertolini and his team studied the industry and concluded that low double digit operating EPS growth over time was an appropriate target for the enterprise. By telling Wall Street not to expect

44

JEWELBUZZ | VOL 1 ISSUE 12

The CEOs in our study saw no contradiction between short-term performance and long-term value. They operated with a both/and mindset, seeking to deliver on immediate goals in a way that also built a sustainable future. Dick Gochnauer, the former CEO of United Stationers (Essendant), put it succinctly: “Most leaders come to realize that you can’t overfocus on one or the other.”

The challenge faced by all our study CEOs was how to instill that both/and mindset throughout the entire organization.

M A N AG EME N T

Doug Conant got his senior team aligned around a both/and outlook using positive peer pressure.

He developed a three-year plan for his turnaround vision, which was translated into annual and quarterly operating plans, and biquarterly responsibilities for his executive team. “And then,” Conant described, “my team had to send me postings every Friday on how they were doing against quarterly expectations, followed by a group meeting every Monday morning.

The power of that process was that I got their attention. And the beauty was that it became a self-governing system. After a little while, the guy in International was saying to the person running North America, ‘Last month didn’t you say that the project was going to be done by now? Has something changed?’ And all of a sudden my whole team had an appreciation for our long-term plan and how we were going to get there.”

Many CEOs in our interviews emphasized the importance of choosing the right metrics to support both/and decision making. Brad Hewitt, CEO of Thrivent, has developed leading indicators for his longterm strategic intent that are organized in layers, from short term (one to three years) to medium term (three to five years). Shorter-term metrics are designed to be leading indicators for long-term strategic intent, and are integrated into the company’s incentive plans. The key to getting this system to work is ongoing reflection and adjustment to ensure that the short-term and medium-term metrics are truly the right leading indicators for a long-term strategic intent, and aren’t motivating unintended short-term behaviors.

Stay True to Your Values The CEOs in our study made clear that the demands to deliver short-term results can be brutal and unrelenting, and that standing up to them requires a tough skin and a strong moral center.

Consider, once again, the case of Fred Lynch. Before Lynch’s arrival, the private equity firm KKR bought Masonite for more than $2.7 billion. Masonite began to struggle shortly after the deal was completed, in 2005, and then declared bankruptcy in 2009.

Lynch, who came on board as CEO in 2007, steered the company through that bankruptcy, cutting costs dramatically and laying off nearly half the company’s workforce. No matter how difficult, with every move he made, Lynch aimed to act with integrity. In keeping

46

JEWELBUZZ | VOL 1 ISSUE 12

with Masonite’s values of transparency and fairness, the entire senior team froze their own pay and took furloughs. They were completely candid with workers about the company’s situation and the need for layoffs. All employees were given at least two months’ notice prior to a layoff, and a severance package.

This value-based leadership paid off. Rather than destroying morale, Masonite built stronger trust with workers through the downsizing — trust that laid the foundation for a return to profitability. As Lynch put it, “We might have had to burn some furniture to survive, but we couldn’t pull the studs out of the walls.”

Preserving the company’s culture and the trust of its workers was what kept the walls up in the short term, steadying them to support Lynch’s longer-term plan.

As Masonite regained financial health, the company’s hedge fund investors pushed for a short-term approach, urging the board to load the company up with debt and approve a dividend recapitalization.

With his long-term vision in mind, Lynch found the courage to push back, putting his job on the line in the process. “As the leader of the company, I said there was no way were we going to put ourselves in that position again. If the board was going to do that, then they should find another CEO, because that’s not what I wanted to do. Thankfully, our board members were all on the same page.”

These four practices operate together as a system.

Purpose motivates and inspires people to work toward building long-term relationships based on trust and mutual commitment. Realistic targets make it possible to deliver both short-term performance results and long-term value creation. Internal practices, led by the CEO, reinforce the both/and mindset. But these three elements can only work if people inside and outside a firm believe that its leaders will protect company values and uphold their trust in good times and in bad. Shorttermism can be conquered, one quarter at a time.

Source : Harvard Business Review

STORE L I GH T I N G

STORE LIGHTING Lighting plays a critical role in jewellery retailing. Presenting the best and the latest in-store lighting accross the world in an exclusive feature. Source: www.retaildesignblog.net

Fabula Large by Costantino Morosin for SLAMP

Clon ceiling lighting system for B.Lux by Miguel Ă ngel Ciganda

Stickbulb X Collection by Rux

Laniakea Light by AMINIMAL

Stickbulb X Collection by Rux

Laniakea Light by AMINIMAL

48

JEWELBUZZ | VOL 1 ISSUE 12

VELI COUTURE lighting by Slamp

Puno light by Das Happy Medium

LightArt Blossom Pendants at 51Fifteen resturant, Houston – Texas

Geometric brass lighting by Lightmaker Studio

PREN Lighting Range by Louise Tucker Studio

VELI COUTURE lighting by Slamp

VOL 1 ISSUE 12 | JEWELBUZZ

49

T REN DS2 01 8

SWAROVSKI PRESENTS

GEM VISIONS A State-of-the-Art ‘Wunderkammer’ Full of Dazzling New Design Directions

S

WAROVSKI organized a dazzling event “GEM VISIONS 2018” on 22nd February 2017, at The Waterstones Hotel- Mumbai for its exclusive branding partners. A Live webinar was also organized for the entire industry to join the trend direction event online. Ms. Roza Topolnicka- Head Creative & Retail Marketing and Ms. Anja LitterscheidProduct Manager from Swarovski Gemstones Business presented the latest trends, designs, themes & innovations 2018. The extensive research done, foresightedness of preparedness was exemplary which made the event a grand success and the attendees were delighted to take back abundance of knowledge shared during the trend presentation.

50

JEWELBUZZ | VOL 1 ISSUE 12

2018

For its 2018 edition, Gem Visions, the industry-leading trend and design service from the Swarovski Gemstone Business, is prepared to fling open its doors on a Wunderkammer packed with ideas, inspiration and pure creative energy. Re-imaging the concept of a Renaissance cabinet of curiosities for the modern era has offered Swarovski a magical showcase in which to display its remarkable array of genuine gemstones and created stones. This is done in direct relationship to the cultural megatrends that are actively shaping the design directions for the worldwide jewellery industry.

Gem Visions’ world-class team of in-house creatives, gem-hunters, and technical gurus has worked tirelessly alongside consultant jewellery experts, trendforecasters and futurologists to identify and evaluate the evolution of these trends. These experts have identified three major design directions, Naturalia, Mirabilia & Artificialia that are pervading the cultural consciousness. Each incorporates two key trends, and together they make up Gem Visions’ Wunderkammer of delights, a heady concoction designed to intrigue, provoke and inspire.

VOL 1 ISSUE 12 | JEWELBUZZ

51

T REN DS2 01 8

Gem Visions’ Wunderkammer Gem Visions’ overarching theme for 2018, the Wunderkammer, derives from a collective sense of wonder that is causing an irresistible fascination with the extraordinary: the phenomena of the universe, the marvels of the earth, and the miracles of technology. For the jewellery world, this has meant a renewed preoccupation with the origin of gemstones, which are created deep within the earth from elements once forged in the vast cauldrons of the stars. The modern Wunderkammer also reflects today’s preoccupation with connoisseurship and its insatiable quest for rarities. This desire drives today’s gemstone market just as surely as it drove the 16th century’s race to acquire natural, scientific and artistic specimens. Within the Wunderkammer, magic merges with art and science to form an enchanted trinity, a perfect reflection of one of today’s most influential megatrends. The original cabinets of curiosity were intended as places of quiet contemplation removed from the stresses and strains of their age. Swarovski’s Wunderkammer offers a similar refuge, but now it is a sanctuary from digital glut and sensory overload, a trusted place in which to build a new appreciation for genuine relationships and connections, and for the jewels with which to honor and celebrate them.

52

JEWELBUZZ | VOL 1 ISSUE 12

NATURALIA In Gem Visions’ Wunderkammer, the primary focus is the on awe-inspiring wonders of the natural world.

Naturalia’s twin themes venture into complementary territories, the watery realms of H2Obsession, and the terra firma of Daughter Earth. Here, the scientific approach rules, defiantly unsentimental and heralding a new abstract, organic style shaped by the earth’s sweeping vistas.

H2Obsession: Water is the most precious of natural elements, the source of all life. Its sounds and rhythms evoke a watery pre-birth existence of dreamless sleep. Water can be gentle and benign, but also terrifying and uncontrollable, full of mysteries and secrets locked in its sparkling lagoons and sunless depths. A universal inspiration, water has taken on new creative expressions of transformation and translucency as exemplified by glacial rock crystal, aquamarine, blue topaz or Ethiopian opal.

Equally applicable to Swarovski Zirconia and Swarovski Topaz, the Puresse Cut produces a water drop appearance by merging a cabochon dome with a facetted body. In shades of blue and green, these magical stones evoke a world of Mediterranean delights. Swarovski has also turned its technical expertise to Nano, the castable glass ceramic, now available in the Round Pure Brilliance Cut. Colors include Nano London Blue Dark, redolent of ocean depths; Nano Ocean Dark Grey, shrouded in sea mists; and Nano Sapphire Blue Dark expressing starlit ocean majesty. For its part, Nano Tourmaline Paraiba indulges the visual pleasures of the Caribbean, combining with white or pink to create a Miami Beach Art Deco vibe. Darker Nano tones are perfect counterpoints to warm orange, dark red or gold.

Daughter Earth: An object of fascination and inspiration throughout the ages, the earth in all its diversity has become the focal point of a new organic movement both primitive and profound.

Designs bow to the planet’s natural grandeur, finding inspiration in mountains, caves, and plains, rainforests, jungles and desert oases. The goal is to reconnect with the earth’s primal energy and forge a new balance between man and the natural world.

Indeed, the vivid Fancy Brown, Poppy and Golden Yellow of Swarovski genuine gemstones and created

stones reflect the earthy tones of Planet Earth.

Several new colors have been added to this list to widen trend synchronicities. Swarovski Zirconia Fancy Light Green with all the promise of spring and Swarovski Zirconia Frosty Mint recalling nature’s extremes in winter combine well with the palette’s grounded tones. The dark earth tones also work well with the peachy hues of Swarovski Zirconia Fancy Champagne. Swarovski’s expressive new Leaf Cut, an exciting combination of a square and round stone is suggestive of spring leaves and flower petals and perfectly on-trend with this theme.

MIRABILIA In exploring the human condition, Mirabilia searches for scientific marvels with which to express the new mood of connectivity and community. Releasing the secrets within a strand of DNA, unlocking the unrealized potential of the human brain, or tapping into the power of human stem cells to regenerate organs, are all acts that arise from the remarkable human capability for caring and curing, learning and loving. The desire to belong is deep-seated, yet peoples also possess a visceral need to stand out from the crowd. Often, it is a flaw, a quirk or an eccentricity that expresses a person’s individuality.

Especially in an age fostering technological VOL 1 ISSUE 12 | JEWELBUZZ

53

T REN DS2 01 8

homogeneity and conformity, it is now important to embrace this paradox at the heart and soul of humanity. Gem Visions explores Mirabilia through its composite trends Perfect Flaw and Spolia.

artifacts, and are often steeped in the traditions and symbolism marking a culture’s distinguishing rites of passage. There is always a need for innovative new jewels able to bear today’s stories well into the future.

Perfect Flaw: Societal norms and expressions of individuality have always been at odds with each other. Now a new willingness is emerging to reassess ideals of beauty and perfection, preferring to see imperfections and idiosyncrasies as unique and characterful, even captivating. The homogeneity of perfection can act to dampen spirits, but a flaw is unique, and with a dynamic energy all its own. The time has come to celebrate the curiosities of nature and revel in the random expressiveness of the earth’s exquisite treasures such as colored diamonds. The allure of imperfection is welcome and even sought after, extolling the infinite variety of life on earth.

Jewellery resonating with the Spolia theme must offer a renewed and uplifting power of storytelling.

Swarovski’s new Misty Rose color for genuine Topaz, as delicate as twinkling grains of sand, draws the beholder into its timeless spell. And violet, long the exclusive province of royalty also comes into its own, but not without a nod to time-honored traditions as seen in the Violet Cut with facets reflecting the petals of that regally colored flower.

Perfect Flaw enjoys a rich palette of deep colors such as the new Swarovski Zirconia Caramel, a stunning reimagining of traditional brown that can smolder like a dying ember or blaze like a hot flame.

It combines well with the deep red color of Swarovski Genuine Ruby or the intense black of Swarovski Genuine Spinel. Spolia: The drive to collect relics and talismans from the past expresses the primal need for connectivity. Individuals have long used them to weave together stories to bolster a shared collective identity. Jewels are amongst the oldest of such

ARTIFICIALIA The connoisseur of old valued his classic Wunderkammer not only as a collection of wonders but ideally, also, as a microcosm of the world. His private sanctum would feature natural curiosities alongside astonishing man-made treasures such as exquisite jewels, paintings, and sculptures fashioned by the most advanced skills and techniques of the day. Today’s cult of connoisseurship generates a compelling desire to be amazed and transported by masterpieces created by either age-old or cutting-edge skills of craftsmanship. Created stones like Swarovski Zirconia and Swarovski Created Diamonds are now not only accepted, but also admired and desired in their own right. Gem Visions’ Wunderkammer celebrates this technological wizardry through the two themes of Shedding Layers and Hyper-Natural.

Shedding Layers: In contrast to the relentless 24/7 world of the twenty-first century, there is now a need to turn away from all the noise and obsessive accumulation of possessions. Shedding Layers addresses this longing for a shift away from compulsive materialism and towards a postmodern, post-industrial, post-fossilfuel age of real interpersonal relationships and emotional connections with intrinsically beautiful, yet useful objects. There is now a taste for a return to jewels created with integrity, and for those bearing the hallmark of fundamentally streamlined design.

The purity of design can be seen in Swarovski Zirconia’s new Purplish Pink color. Subtle and

54

JEWELBUZZ | VOL 1 ISSUE 12

SWAROVSKI PRESENTS

GEM VISIONS 2018

summer and warm autumn palettes. The extreme clarity of form of the Octahedron cut also speaks to this trend’s intrinsic honesty.

Hyper-Natural: This theme taps into a spirit of adventure, the indomitable human drive to move beyond current wonders and the technologies that make them possible. Focus falls on the strange, hyper-real, otherworldly beauty of realities based on the structures and symmetry of natural designs.

Unseen forces such as gravitational waves and brain patterns inspire design in an entirely new way, giving birth to fresh forms for a new generation of body adornments.

delicate, Purplish Pink’s pastel glow and rosy warmth are very feminine without any artifice, and introduces a welcome breath of freshness to both bright

Clear white and near white stones are best at translating grand ideas, complex theories, and intricate dreams into the story-telling language of jewellery design. A perfect choice is the new Swarovski Zirconia Greyish Blue with swirling hints of color suggestive of an intense inner monologue.

Best coupled with classic oval, square and teardrop shapes, Greyish Blue harmonizes beautifully with pale clear colors from the yellow and orange range through to light blue, light green and even lilac.

Swarovski delivers a diverse portfolio of unmatched quality, craftsmanship, and creativity.

Founded in 1895 in Austria, Swarovski designs, manufactures and markets high-quality crystals, genuine gemstones and created stones as well as finished products such as jewelry, accessories and lighting. Now celebrating its 120th anniversary and run by the fifth generation of family members, Swarovski Crystal Business has a global reach with approximately 2,560 stores in around 170 countries, more than 25,000 employees, and revenue of about 2.33 billion euros in 2014. Together with its sister companies Swarovski Optik (optical devices) and Tyrolit (abrasives), Swarovski Crystal Business forms the Swarovski Group. In 2014, the Group generated revenue of about 3.05 billion euros and employed more than 30,000 people. The Swarovski Foundation was set up in 2012 to honor the philanthropic spirit of founder Daniel Swarovski. Its mission is to support creativity and culture, promote wellbeing, and conserve natural resources. www.swarovskigroup.com

VOL 1 ISSUE 12 | JEWELBUZZ

55

EVENTFUL

Cricket brings jewellery fraternity together; JYPL scores sparkling success on its debut

J

ewellers Youth Forum (JYF) has recently organised Jewellery Youth Premier League (JYPL) Zaveri Bazar’s first ever cricket league. The league had witnessed tremendous participation from Jewellery fraternity and seen some very closely contested matches played in the true spirit of game.

Jewellery, Diamond Jewellery, Bullion, CZ Jewellery, Chain, Silver Jewellery and Mangal Sutra and selected through a screening process consisted of ranking the players based on their performance in nets at The Oval.

Owners of the 12 teams competed with other teams to select the best players from the 165 players who got into The Player Auction for their respective teams. The Player JYPL had a unique format of having teams from various jewellery industry categories. A total of Jewellery Youth Forum Auction Process was handled by a professional agency 165 players were pooled into 12 teams from 12 categories – with utmost transparency and witnessed an overwhelming Gemstones, Allied, Committee, Plain Gold, Bangles, Antique attendance and response from all the participants of JYPL.

M ANAG I NG COMMIT TEE - JYPL 2017 56

JEWELBUZZ | VOL 1 ISSUE 12

THE STORY OF THE BRAND

PRESENTS

The Swarovski Gemstones Business, a certifie member of the Responsible Jewellery Council a global player in the industry whose reputatio for innovation, design, cutting precision and unrivaled quality has been at the forefront of international market. Each stone – ranging fro precious sapphires to colored gemstones as w as zirconia – is crafted to satisfy the strictest manufacturing standards for cut, color, and brilliance. These are products that are pleasa and easy to work with, especially in very sma sizes suitable for pavé designs.

Today, Swarovski is a multifaceted company with a history of 120 years of dedication to excellence that has made it a renowned international brand.

Swarovski has been synonymous with the highest quality crystal for more than a century, and since 1965, is also a trusted manufacturer and supplier of precision cut genuine gemstones and created stones to a host of international brands, designers, and manufacturers within the fine and bridge jewelry, watches, eyewear and related industries.

Recognizing gemstones as a timeless source of inspiration, for over 50 years the Swarovsk Gemstones Business’ mission has been to del creative diversity to designers and brands.

WILSON GYMKHANA 23RD & 24TH FEBRUARY 2017 SKYWARRIORS

CO SPONSOR

FOOD PARTNER SKYWARRIORS

SKYWARRIORS

SKYWARRIORS

SKYWARRIORS

MEHTA MASTERS MEHTA

MEHTA MASTERS

SKYWARRIORS

VENUE PARTNER MEHTA MASTERS MEHTA MEHTA MASTERS MEHTA

MASTERS MASTERS MEHTAMASTERS

4/6 PARTNER

MEDIA PARTNER

TROPHY PARTNER SKYWARRIORS

SKYWARRIORS

JERSEY SPONSOR

YOU TUBE LIVE & LOGISTICS PARTNER

REFRESHMENT PARTNER

MASTERS

APP SPONSOR

MEHTA MASTERS

INAUGURAL EVENT PARTNER

KIT PA KIT PARTNER

TOSS KA BOSS

JYF COMMITTEE WARDROBE PARTNER KIT PARTNER

KIT PARTNER

UMPIRE SCORERS & COMMENTATOR SPONSOR

KIT PARTNER

KIT PARTNER

CAP SPONSOR

KIT PARTNER KIT PARTNER

KIT PARTNER

MAN OF THE MATCH SPONSOR

KIT PARTNER

VOL 1 ISSUE 10 | JEWELBUZZ

57

EVENTFUL

J E W E L S TA R KIN GS WIN JYPL

RU NNE R U P - TRIDEN T CH ALLEN GERS SKYWARRIORS SKYWARRIORS SKYWARRIORS SKYWARRIORS

JYPL 2017 PARTICIPATING TEAM SKYWARRIORS SKYWARRIORS SKYWARRIORS SKYWARRIORS

SKYWARRIORS SKYWARRIORS SKYWARRIORS SKYWARRIORS

The twelve teams were, Ganesh Gladiators, Jewel Star Kings, JYF Strikers, Payal Gold Lions, Mehta Masters, Pride Predators, Raj Diamonds MEHTA MEHTA MEHTA MEHTA Shining Stars, RSBL Kings XI, MASTERS MASTERS MASTERS MASTERS Shannti Kinght Riders, Sky Wariors, Tiara Tigers and Trident Challengers.

At the inauguration ceremony that followed the player auction, JYPL Trophies, T- Shirt, Tournament Jingle, Tournament Teaser, Team Video, Sponsor Video were launched.

KIT KIT KIT PARTNER KIT PARTNER PARTNER PARTNER

The matches were organised on 23rd and 24th at Wilson

58

JEWELBUZZ | VOL 1 ISSUE 12

MEHTA MEHTA MEHTA MASTERS MASTERS MASTERS

MEHTA MEHTA MEHTA MEHTA MASTERS MASTERS MASTERS MASTERSGymkhana College

Ground, Marine Drive, Mumbai.

This Event was graced by Praveenshankar Pandya (Chairman GJEPC), Nitin Khandelwal (Chairman GJF), Mukesh Mehta (President IBJA) and other industry stalwarts.

KIT KIT KIT KIT PARTNER PARTNER PARTNER PARTNER

Jewel Star Kings and Trident Challengers reached the finals after a keenly contested league matches and Jewel Start Kings won the first JYPL with a convincing win.

KITKIT PARTNER KIT PARTNER PARTNER KIT PARTNER

JYF would like to take this opportunity to thank sponsors and partners for their support and encouragement.

TARA FINE JEWELS

E-1, HERMES HOUSE, 5th FLOOR, ABOVE TBZ, NEXT TO VIJAY SALES, M. P. MARG, OPERA HOUSE, MUMBAI - 400 004.

M I L A N CH H E D A - 9 8 20 0 2489 9 / 9 3 20 0 2489 9

WWW.PENITUP.COM

Perfection PersoniямБed

BG J F 2 01 7

The 59th edition dazzles 23,000 global buyers, over 730 leading enterprises showcasing finest creations Apiradi Tantraporn, Minister of Commerce, Government of Thailand said “Thailand’s gems and jewelry industry is considered one of the country’s major industries. As the Indigenous Globally Competitive industry, it is the lifeline of 15,800 entrepreneurs and over 900,000 workers. To date, Thailand stands proud as the world’s Number 10 largest gems and jewelry exporting country.

In 2016, the industry fetched more than 7 billion US dollars in export value; and for this year, it is expected to earn for the country some 7.32 billion US dollars, a 5% increase against that of the previous year’s.

O

rganised under “The World’s Gems and Jewelry Destination” concept, The 59th Bangkok Gems & Jewelry Fair BGJF had reaffirmed its leading position as the major sourcing platform for gems and jewellery industry in Asia-Pacific region by bringing together 730 leading companies from 18 countries to showcase latest innovations and finest gems and jewellery.

The five-day trade show had put spotlight on emerging market sectors across the globe through “The Showcases” featuring jewellery for senior citizen in ‘60+’, jewellery for wedding in ‘The Moment’, jewellery for men in ‘Metro Men’, jewellery for opulence and horoscope in ‘Spiritual

60

JEWELBUZZ | VOL 1 ISSUE 12

Power’, art and craft jewellery in ‘Culture Club’, and jewellery for pet in ‘Pet Parade’zone.

Thailand is ranked world’s number 10 largest gems and jewellery exporter and one of the world’s leading exporters of silver jewellery and gemstones.

Therefore, Bangkok Gems and Jewelry Fair has played the role of an effective marketing tool for exhibitors seeking to expand exports or build business network with importers from around the world.

Malee Choklumlerd, Director General of DITP, meanwhile revealed that with the concept of The World’s Gems and Jewelry Destination, BGJF has proudly strengthened Thailand’s position as the

world’s gems and jewelry hub.

The five-day trade show has also provided update on global market trends and knowledge through a series of insightful seminars and other exciting activities such as the Gem ID Rendezvous being organized by the DITP in collaboration with the Gems and Jewelry Institute of Thailand (GIT) and Asian Institute of Gemological Sciences (AIGS); Ruby Contest in quest of the most beautiful Thai rubies to put on display, and the Ruby Heart of Love, a charity fund-raising to benefit Thai Medical Device Development Foundation (TMDD) Under Royal Patronage of King Rama IX – both aimed at creating greater awareness on World Ruby Forum 2017 scheduled later this year.

H KT DC 2 017

HK Twin Jewellery Shows attracts 85,000 plus buyers

Signals spirit of optimism especially in Asian diamond markets

T

he fourth Hong Kong International Diamond, Gem & Pearl Show and the 34th Hong Kong International Jewellery Show ended on a promising note. The twin shows featured about 4,480 exhibitors, and attracted over 85,000 buyers from

144 countries and regions, up six per cent over last year. More than 33,000 buyers visited the Diamond, Gem & Pearl Show, while some 52,000 visitors attended the jewellery show.

Other than strengthening their relationship with existing clients, the exhibitors also met with new buyers from Russia and the United Kingdom.

Organised by the Hong Kong Trade Development Council (HKTDC), the shows were held at the Hong Kong Convention and Exhibition Centre (HKCEC) displaying premier jewellery from around the world and providing an important business hub for Hong Kong’s jewellery enterprises.

Indian pavilion shines with 93 exhibitors

The Indian jewellery companies made a strong presence with 93 exhibitors. Organised by the Gem and Jewellery Export Promotion Council (GJEPC), the India pavilion comprised 33 exhibitors in loose diamonds, 22 exhibitors in gemstones and 38 exhibitors in finished jewellery.�

VOL 1 ISSUE 12 | JEWELBUZZ

61

G J I I E 2 01 7

13th edition of GJIIE adds shine to Jewellery Trade

In addition to Tier I, II and III cities in India, the exhibition witnessed delegate representation from New York, Dubai, Singapore and Malaysia, thus substantiating the international reach and presence of GJIIE 2017.

T

he 13th edition of mega B2B gem and jewellery extravaganza Gem & Jewellery India International Exhibition (GJIIE) ended on an optimistic note in Chennai spreading a strong message that the industry has bounced back after demonetisation.

Jointly organised by MJDMA and UBM India, the three day show was inaugurated by K C Veeramani, Minister for Commercial Taxes And Registration in the presence of Jayantilal Challani, President, MJDMA, Rajesh Vummidi, Chairman, MJDMA – GJIIE, Rajendra Jain, Managing Director, Swarovski Gemstones Business, Yogesh Mudras, Managing Director, UBM India and Abhjit Mukherjee, Group Director, UBM India.

The event which was scheduled from March 10th to 12th witnessed participation of over 300 exhibitors that include wholesalers, retailers, importers and exporters, jewellery manufacturers, machinery manufacturers, diamond, gemstone, pearl suppliers and traders, precious metal and jewellery mounting traders and suppliers, and representatives from 62

JEWELBUZZ | VOL 1 ISSUE 12

and apex bodies to discuss the key achievements and challenges of the trade in the state. Educational and technical seminar were also part of the three day event. trade and governmental bodies.

In addition to Tier I, II and III cities in India, the exhibition witnessed delegate representation from New York, Dubai, Singapore and Malaysia, thus substantiating the international reach and presence of GJIIE 2017.

The event also organised All TN President & Secretary meet and GJF Zonal meet with key associations

The expo scores high on the visual and aspirational aspect too with an ‘Innovative Zone’ -- a special gallery that is featuring at GJIIE for the first time showcasing unique designs.

Besides, The ‘Hall of Fame’, an eyecatching display of miniatures made from precious metals and gem stones of famous originals is one of the talking points of the show, along with a ‘Swarowski Gallery’, that displayed its new collection of glittering crystals.

E X HI BI T I O N S - I N DI A

Jaipur Jewellery Show 17 - 20 March 2017 Jaipur Exhibition & Convention Center(JECC) JJS Committee

Hyderabad Jewellery Pearl & Gem Fair

India International Jewellery Show 2017

9 - 11 June 2017

27 - 31 July 2017

HICC Novotel, Hyderabad

Bombay Exhibition Centre

UBM India Pvt. Ltd

Gem & Jewellery Export Promotion Council

jaipurjewelleryshow.org

hyderabad.jewelleryfair.in

info@jaipurjewelleryshow.org

pankaj.shende@ubm.com

+91-141 272 5647

+91-22-61727272

iijs.org/index.php iijs@gjepcindia.com +91-22-2654 4600

India International Gold Convention

India International Fashion Jewellery Show 2017

11th Jewellers Association Show

11 - 13 August 2017

11 - 14 August 2017

1 - 4 September 2017

Grand Hyatt, Goa.

Bombay Exhibition Centre

JECC, Sitapura, Jaipur

Foretell Business Solutions Private Limited

India International Fashion Jewellery & Accessories Show

Jewellers Association

www.goldconvention.in

www.iifjs.com/iifjas-mumbai

register@goldconvention.in

sales@radiaantexpo.com

+91-93437 34140

+91-22-6464 5500-07

COUTURE INDIA

Delhi Jewellery & Gem Fair

9 - 11 September 2017

24 - 26 September 2017

Hotel Taj Palace, New Delhi

Pragati Maidan, New Delhi

Gem & Jewellery Information Centre/ Indian Jeweller Magazine

UBM India Pvt. Ltd

coutureindia.show coutureindia@indianjeweller.in +91-22-2675 6066

delhi.jewelleryfair.in marketing.jewellery@ubm.com +91-22-6172 7182

jasjaipur.com info@jasjaipur.com +91-141-2563829

Gujarat Gold Jewellery Show GGJS - 2018 5 - 7 January 2018 Gujarat University Convention Centre.

GGJS & Gold Oranmanets Wholesale Jewellers Association www.ggjs.co.in ggjsevent@gmail.com +91-79 - 2640 5757

64

JEWELBUZZ | VOL 1 ISSUE 12

WWW.PENITUP.COM

Trendsetter of a Tradition

S. K. JEWELLERS

68/72 , GANPAT BHAVAN, 1ST FLOOR, SHOP NO.104, DHANJI STREET, MUMBAI - 400 003.

TEL NO. 022 - 23411486, 23465694 www.skjewellers.com sanjayskjeweller@gmail.com

EXHIBITIONS - GLOBAL

MidEast Watch & Jewellery Show 4 - 8 April 2017 Sharjah Expo Centre, Sharjah, UAE Expo Centre Sharjah mideastjewellery.com amjed@expo-centre.ae +971-6-5770000

JCK LAS VEGAS 5 - 8 June 2017 Mandalay Bay Resort & Casino Las Vegas, NV Reed Exhibitions reedexpo.com inquiry@reedexpo.com +1 203 840 4800

LAS VEGAS Gem & Jewelry Show

2 - 6 May 2017

29 May - 1 June 2017

Abu Dhabi National Exhibition Centre

The Mirage Hotel and Casino

Reed Exhibitions www.jws.ae info@jws.ae

G.L.D.A., Inc. Headquarters www.glda.com info@glda.com +1 203 840 4800

+971 2 491 7615

VicenzaOro 23 - 27 Sept 2017 Viale della Oreficeria FIERA DI VICENZA vicenzaoro.com

Singapore Jewellery & Gem Fair 27 - 30 October 2017 Marina Bay Sands, Singapore, Singapore UBM Exhibition Singapore Pte Ltd

info@vicenzaoro.com

singaporejewellerygemfair.com

+39 0444 969111

clara.leong@ubm.com +65 6592 0888

Dubai International Jewellery Week

VicenzaOro - Dubai

Jewellery Arabia

15-18 November 2017

21-25 November 2017

15 - 18 November 2017

Dubai World Trade Centre

Dubai World Trade Centre

DV Global Link LLC

Baharain International Exhibition & Convention Centre

Arabian Exhibition Management Fawzi Al Shehabi jewelleryshow.com

66

International Jewellery & Watch Show

dubai.vicenzaoro.com exhibitor@vicenzaorodubai.com +971 (4) 308 6431

Arabian Exhibition Management Fawzi Al Shehabi jewelleryarabia.com

benedetta.galletti@arezzofiere.it

benedetta.galletti@arezzofiere.it

+65 6592 0888

+65 6592 0888

JEWELBUZZ | VOL 1 ISSUE 12

All rights reserves. Studex®©copyright 2016

BELLY

NOSE

AFTER CARE

AD INDEX

ADVERTISEMENT’S INDEX Sl No

Name of the Advertiser

City

Page No

1

Aarya 24KT

Mumbai

17

2

Alankar International Pvt. Ltd

Mumbai

9

3

Divine Solitaires

Mumbai

69

4

Do - It Impex Pvt. Ltd.

Mumbai

70

5

Emerald Jewel Industry India Ltd

Coimbatore

6

Euro Cubic Creations Pvt. Ltd.

Mumbai

Cover Gate Fold

7

India Bullion & Jewellery Association

Mumbai

63

8

JewelTrendz

Mumbai

2

9

Mark Bangles

Mumbai

13

10

Mukti Gold & Diamond

Mumbai

21

11

Piercing Systems India Pvt Ltd.

Mumbai

67

12

Pure Platinum Jewellery Pvt. Ltd.

Mumbai

47

13

Raj Jewellers

Mumbai

43

14

RM Jewellery

Bangalore

15

S. K Seth Jewellers

Mumbai

11

16

S. K. Jewellers

Mumbai

65

17

Shilpi Jewellers

Mumbai

19

18

Shringar House of Mangalsutra

Mumbai

3

19

Silver Emporium Pvt. Ltd.

Mumbai

39

20

Solanki Jewellers

Mumbai

15

21

Swarovski Gemstones Business

Mumbai

41 & 72

22

Tara Fine Jewellery

Mumbai

59

23

Tiara Fashion Jewellery

Mumbai

45 & 71

4&5

6&7

Disclaimer : The above list is not an indication of ranking or any other preference and not part of the agreement.

JewelBuzz does not take responsibility of any errors unintentionally occurred.

68

JEWELBUZZ | VOL 1 ISSUE 12

Because the brightest is the best Available at 124 premium jewellers in 69 cities across India For Trade Enquires, Contact : (022) 66264880 / 08108441129 / 9967889989.

To track current diamonds prices, download the Divine Solitaires App.

KARLIE KLOSS KARLIE KLOSS

Brilliant Precision

BORN FROM A TRADITION OF

MASTER CRAFTSMANSHIP

VISIT SWAROVSKI-GEMSTONES.COM

+91 (22) 2851- 6876 / OFFICE.INDIA@SIGNIT Y.COM

AND SIMUL ANT SECTION SIGNIT Y INDIA PV T. LTD.

BOOTH NO: EX 0 08 / 010 – I, II, III, IV IN SYNTHETIC

INDIA INTERNATIONAL JEWELLERY SHOW, 2016