VGL
Insiders December 2016
C O N T E N T S 04
MESSAGE FROM CHAIRMAN
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BLACK FRIDAY SUCCESS: BRINGING IT ALL TOGETHER
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LC COMPLETES WAREHOUSE MOVE
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SOCIAL WORKS AT THE AUSTIN DIAPER BANK
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LC SOCIAL WORKS HONORS EMPLOYEES
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LC SUPPORTS SOLDIERS ANGELS AND VETERANS
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TREE DECORATING CONTEST WINNER!
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ONE FOR ONE
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BAGS!
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GEMSTONES TESTING LAB
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GPTW CHINA
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LC IS AN OWLER HOT IN 2016 WINNER!
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TJC CHRISTMAS PARTY!
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VGL CHRISTMAS CELEBRATION!
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VGL TEAM BUILDING OUTING
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PHOTO SUBMISSIONS
GROUP PHILOSOPHY OUR VISION Be the Value Leader in Electronic Retailing of Jewelry and Life Style Products. OUR MISSION We will, Build a learning organization with high performing people Offer low priced high quality products, Delight our customers every day.
OUR CORE VALUES Team Work Honesty Commitment Passion Positive Attitude
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eam, We have our Vision and Missions in place but many a times I have wondered as to what our ‘Purpose’ is. By purpose, I mean that in addition to making a living, what is the larger purpose that we come together at VGL for? What is that one purpose that all of us can be passionate for? What is that one purpose that will make our customers resonate with us and become our advocates? Our customers respond to our great products that we bring to them at incredibly low prices. We bring them joy and enable them to spread it to their loved ones, which they never thought they could, prior to LC & TJC coming in their lives. Based on your feedbacks, discussions with some of you and my personal thoughts, we have decided to go with ‘Delivering Joy’ as VGL’s purpose. Actions from each and everyone of us will be guided with this purpose. Let us ask ourselves before any work related activity, if it will deliver joy to your customer or any other stakeholder. The customer can be another department of your unit or a different unit of the group or an outside customer. If we are doing something for the community or group employees or investors, the action should be dictated with the thought of delivering Joy to the recipient. Our purpose and our core values (Team work, honesty, commitment, passion and positive attitude) can never be in conflict. If you ever find yourselves in such a situation, please revisit or enquire from seniors of their true meaning. Let us resolve to henceforth carry out our actions with the sole purpose of delivering joy to our customers, our team members our communities and our investors.
SUNIL AGRAWAL
Chairman & Managing Director
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BLACK FRIDAY SUCCESS: BRINGING IT ALL TOGETHER By Deepak Sharma/Robert Sleeper
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nother Black Friday has come and gone, and, like previous years, it turned out to be one of our most successful events of the year. But how does it all come together? Deepak Sharma, NonJewelry Product General Manager, and Robert Sleeper, Buyer Home Products, took some time from their day to share key aspects of the event and the products offered, leading to our success. WHAT MADE THE PRODUCTS SUCCESSFUL At Liquidation Channel, we’ve established a history of setting ourselves apart by offering products focused on great quality at an attractive price point. “With Doorbusters, it’s important to go that extra mile. Our viewers are already accustomed to an everyday value,” Deepak explained. “By having the best price in the market, an unbeatable value is offered to our customers.” Robert added, “By offering unique items exclusive to the LC, customers return to see what we’ll have next!” He added, “Beyond offering the best market price, it’s also important that we provide exciting products that won’t be found elsewhere. These exclusives help us stand out
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DOORBUSTER PRODUCT HIGHLIGHTS 1. Unbeatable Value. Best Market Price Anywhere! 2. Unique Items Exclusive to Liquidation Channel. 3. Multifunctional Life Solutions. 4. Every Item is Perfect for Gifting!
necessity of offering unique items. The items, offered in five popular colors, serve double duty. When constructed, they can serve as seating wherever extra is needed. In addition, they possess ample storage room. Coupled with the fact that they collapse for storage, customers have a simple, convenient solution for two everyday situations many of us encounter.
Products such as the collapsible ottoman and bench exemplify the
TEAMWORK MAKES THE DREAM WORK To some this might be
from the crowd. Paired with their value, it’s a win-win for everyone!”
considered a trite phrase. But at the LC, it’s an important truth. Both agreed that it wasn’t just the fantastic products selling themselves. There were key contributions across the organization that equally aided our success. Without every team pulling together and delivering their very best, there’s no way we would’ve succeeded as well as we did. Teamwork Key Highlights • Sales Support: Stunning Photos, Product Video, and Price Comparisons. • Planning: Working with sourcing partners well in advance to acquire products at the right price, at the right time.
• Marketing Support: The majority of items were featured in a special Doorbuster brochure to generate excitement. • Social Support: Strategies were implemented to partner with Marketing in daily product reveals to further develop customer interest. So there you have it, a simple and honest reflection of our Core Values in practice. By combining Passion, Commitment, Honesty, Positive Attitude, and being a Team Player, Liquidation Channel’s annual Black Friday Doorbuster event was an exceptional success!
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LC COMPLETES WAREHOUSE MOVE By Warehouse Team
Left to right- Manuel Jimenez, Shannon Becton, Iliana Villarreal, John Wilkinson, Chris Meiske, Ina Shah, Niloma Gomes, Sean Whitefield.
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n recent years, Liquidation Channel has enjoyed tremendous growth. As our success has enabled us to grow as a company, the physical space we’ve needed has matched this rapid expansion. Having just completed our warehouse move, we want to take the opportunity to share the details behind its success. THE EARLY DAYS
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In the early days of LC, the company occupied a single suite of a large office building. As the years marched on, each of the three additional suites slowly became occupied, until we filled out the entire building. Initially, the warehouse consisted of our secure vault and a small additional storage area. This expanded as quickly as demand from our customers increased the
amount of stock requiring storage. After occupying the neighboring suites, the warehouse “filled in” the space, creatively utilizing the area in and around the warehouse to maximize its efficiency. THE NEW WAREHOUSE Realizing even then that we would eventually outgrow our current space, plans were drawn up and contracts negotiated to
begin occupation of the neighboring office building. Here, it was decided, the entire warehouse would be located, to pull all its elements together in one centralized location. In a practical sense, the majority of workspaces effectively doubled in size. Departments, such as Returns and Photography, had their areas consolidated into a single zone. Previously, each existed across multiple spaces in the old warehouse. Returns alone took up five separate areas to accommodate our rapid growth! With their new space, they now easily meet their goal of processing refunds for returns within 48 hours.
of the new space available, our hardworking team on the back end wasn’t forgotten! Warehouse
that the warehouse team underwent no downtime during the move. This is truly a testament to their organization and hard working, can do attitude! The warehouse move concluded during the second week of August 2016. There was no halt to business during this time. Essential activities, such as picking and packing of orders, stayed in operation.
CURRENTLY, THE TEAM IS STEADILY GROWING FROM AN 87 % COMPLETION RATE AT THE TIME OF WRITING.
NEW WAREHOUSE DETAILS • Available space effectively doubled. • Departments have consolidated work areas. • Locations for item storage increased from about 38,000 spaces to 55,000! • Vertical height increased from eight feet to 24 feet. And it’s not just our products that have enjoyed the move. With the benefits
employees now have access to a canteen and break area within their building, so they never have to leave! Previously, a necessary security check would tie up employees as they took their scheduled breaks and lunches. Also, personal lockers are available, so warehouse workers have a convenient place to store their personal items when beginning their shift. INCREASED SPACE, INCREASED EFFICIENCY The addition of an expanded warehouse has done more than simply let Liquidation Channel store more merchandise. The growth has increased the team’s efficiency. Shannon Becton beamed with pride, explaining
Measuring the efficiency of the team has demonstrated how quickly they’ve adapted to this major change at the company. During the month of September, 84 percent of orders were picked and packed within 48 hours of being placed. By October, this metric shot up to 98 percent! Nitin Dugar took a moment to explain, that at this rate, the team should easily reach their goal of 98 percent of orders packed within 24 hours. Currently, the team is steadily growing from an 87 percent completion rate at the time of writing.
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SOCIAL WORKS AT THE AUSTIN DIAPER BANK
Left to right- Suraj Suraj Prasad, Carla Haydon, Laura Troehler, Regina Dicky, Satendra Singh, Crystal Carpenter, Ariel White.
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LC SOCIAL WORKS HONORS EMPLOYEES
Carla Haydon, Heidi-Jo Fonley, Regina Dickey.
Regina Dickey, Manuel Jimenez, Carla Haydon.
Regina Dicky, Ted Wrenn, Carla Haydon.
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LC SUPPORTS SOLDIERS ANGELS AND VETERANS
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T
he LC Social Works Committee may be a small group of 6, but they have “Hearts” as big as Texas. Through their dedication and commitment to not only the local Community but to the employees as well, many hours of Service through volunteer hours, cooking and baking, Thank You Card writing for Veterans, the making of scarves and the collection of food for people and pets makes this group truly unique. The Committee encourages the participation. from LC employees in order share in embracing the community they call home. Most recently their efforts have been spent assisting at a local Diaper Bank. The Diaper Bank located in Austin, Texas was started in a garage by a Mother who realized the expense associated with the cost of diapers and understood that there were many families in the local community that would benefit from assistance in the cost of diapers and that at times the decision to buy diapers or food was a real scenario. It has grown to encompass a small office and warehouse facility. The Bank is funded by donations of not only individuals but by Companies in the area. Donations are both monetary as well as in kind. Once the diapers are collected the real work then begins, in that the
diapers have to be sorted and bundled and prepared for distribution. This was where the committee felt they could give the most. They arrived and assisted in making signs for an upcoming Fund Raising Event as well as bundling and sorting diapers that had been recently donated. For the second year in a row The Social Works Committee chose to make 150 scarves for the Veterans and write Thank You Cards to be distributed to Soldiers Angels as well as partnering with Soldiers Angels to provide food and goodies for Veterans that use the facilities at the Veterans Administration Out Patient
Clinic in Austin, Texas. On November 8, 2016, (11) eleven LC employees served 10 gallons of homemade chili (both spicy and mild) along with all the fixings, approximately 30 dozen
homemade cookies and fruit to over 200 Veterans. Partnering with Soldiers Angels, and local Veterans Administration volunteers they also distributed coffee, candy and Thank You Cards for the Veterans service and the 150 scarves. To many of the Veterans the LC has become known as the “Love Channel”. The smiles that the Veterans return and the appreciation they hold for this small act of kindness is truly priceless and worth more than words can say. This year, the LC not only ran promos bringing awareness nationwide to “Soldiers Angels”, but also donated pillows, throws, robes, mattress toppers and duvets (valued at $25,000). These products will be used throughout Central Texas at various Veterans Administration hospital and clinics, as well as to be distributed to homeless veterans and veterans in need. In addition to honor Veterans at the local VA, the Social Works Committee also honored the 17 LC employees that also were Veterans. Each employee that served in the armed forces was presented with a Shadow Box, made especially for them saluting the branch of service in which they served. They were also presented with a certificate of Thanks and recognition for the sacrifice they made for all of us.
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TREE DECORATING CONTEST WINNER!
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ONE FOR ONE Joel White
Senior Creative Producer
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rowing up in a small coaling mining town west of Sydney, at no point did I ever, in my wildest dreams think that I’d travel to India to film at the breathtaking Amer Palace, the Jal Mahal or to film all the amazing smiles in the local Jaipur schools but that’s what happened earlier this year as we were again there to shoot an update for the One for One program. Now in it’s second amazing year and stronger than ever, providing 7 million meals and counting, not only does it give us a chance to show the rest of the VGL family how it is going but it importantly shows the customer how they are making a real difference and helping to give disadvantaged children a better life through education.
To be associated with such an amazing program as One for One is something I’m extremely proud of and I really feel privileged to be given the opportunity to see it in action. All this makes me excited by the fact that it’s success in India has made it possible to bring the program to help children in the UK. As well as traveling to
India I’ve been lucky to film at some of the most amazing locations in order to relay the beauty of our products and along the way I have also got to see the inner workings of the business and it’s vertical integration and I’ve also got to see how the buyers operate when getting the best deals which is thrilling to see them in action.
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I’ve met the most amazing people associated with VGL and it really is a family feel and no matter where you are in the world or who you’re with, if it’s with anyone from VGL you instantly feel at ease and at home. Even in the short time that I’ve been with TJC I’ve seen it and VGL develop in leaps and bounds and because of this I’m really excited for the future to see what we can all achieve.
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BAGS! Yi She
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Handbag Buyer, TJC
ormally when people hear my job, their first reaction is ‘you get paid to buy handbags every day?’ Sounds easy and glamorous, but this is really not the case! As a handbag buyer, one of the most important skills I have picked up is differentiating between my own tastes and what the customer wants. Unfortunately, you can’t just go out there and fulfil your personal shopping list! You have to develop an eye for spotting emerging trends. I love seeing what’s happening from the catwalk to the high street and finding ways we can stand out. So far we have done three collections of handbags: MANHATTAN COLLECTION: This was all about the monochrome trend which is never out of fashion.
Minimal style with a modern twist is the key for this collection
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MILANO COLLECTION: Inspired by French artist Malika Favre. This range is about bold, colourful print.
YUAN COLLECTION: The Logo “YUAN“, I designed myself! This word
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implies Cherish and Magic in traditional Chinese character. The YUAN collection is perfect for fans of contemporary feminine style. All three of the above collections have been very successful, not only because of the individual style, but the different price ranges make it even more appealing to our customer. My job is very varied, I work with vendors to discuss new designs, fabrics, and patterns. We have to make sure our customer gets the best out of it. I work with local buyers to make sure merchandise shipping is on time, ensure there are no quality issues and help them understand the UK market better. Also, I work with the planning team to make sure the products are on air at right time with best price. Alongside this I have to work with the presenters to provide them with sale points and product information. Finally, I help with the design process and sourcing new leathers to use. This means I have to travel
a lot, normally three times a year. I go to India and China to find new suppliers and learn techniques for colouring leather. I also spend a lot of time trawling through cool vintage shops, looking for interesting prints and antique metalwork.
The first thing I do when I meet new people is look at the bag they’ve got on their arm…….I can’t help it! I’m always aware of what people are wearing, whether that be in the supermarket, on the train or on the street. So far, the handbag category has already became one of the most important lines for NJP, we made nearly £900000 gross sale last year, which is a 43% rise compared to 2014. This year is going to be even better. You have got to put your heart and soul into the job, and I do…..I love it!!
GEMSTONES TESTING LAB Simar KhokharÂ
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Deputy Manager, Gemstones Department
gemstone testing lab has been setup in-house for the first time ever in the VGL history. This lab ensures the right disclosure and correct identification of the different gemstone materials that we deal in. It was brought into place in order to tackle the various gemstones mixes, and to correctly identify, grade and to bifurcate the different gemstones that get mixed in one lot. This is one of the most common problems that we come across in gemstones, where similar colours can often be confused for one stone. For example, some shades of aquamarine, blue apatite can easily be confused for Topaz, since the colour and luster of these stones appear to be almost similar. So, in order to overcome this issue, we wanted to take an important step towards our initiative for the right disclosure of gemstones. However, the main challenge we faced was the gemstones testing. The only option we had was to send the gemstones out to a reputed lab for testing, where we would be charged around $10 per stone for testing. Since, we have
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gemstones in bulk, and if they were to be sent out for testing, the costing would be exponentially high, thereby the cost of testing would be immense. So, in order to overcome this, we thought of investing into some gemstones lab equipment and some GIA qualified lab professionals in order to have a similar setup in house where the stones can be tested. After continued discussions, research and planning for 4 months, we were able to setup a lab, which got inaugurated on Nov.16, 2016. We currently have
3 GIA lab professionals working in this gem testing unit. The first mission that we had at our hand was a 19000ct. mix lot of Topaz, which we couldn’t utilize in orders due to it being a mix, and due to our strict policy of not using the material in jewellery that we are unsure about. In a span of only 22 days, the lab has been able to test the whole lot successfully. To our surprise, we were able to differentiate and pull out 26 different stones such as Tanzanites, Zircons, Aquamarines and many others from the same lot. Majority of the stones that we pulled out are higher in value than the Topaz itself. If this was to be sent to a lab outside, it would have cost us a lot of time and money in order to separate the lot. Till date, the lab has been able to test
around 20000 pieces, which also includes stones other than the topaz lot, and we have saved approximately $200000 in testing costs until now. Cost saving is one aspect that the lab targeted, however it also increased stock visibility, where the stones mixes can be utilized in orders immediately after testing. The lab is strategically testing according to the event calendars, so that the stones that are pulled out can be utilized in those orders, and so that our inventory will be flowing. In this short span of time, people have become more aware about the lab, and they described this unit to be acting as a consulting body in gemstones, where if anyone has any doubts or suspicions about any stones, they can now refer to the lab,
VP Ops VGL India, Raj Singh and Gemstone Team, inaugurating Gemstone Testing Lab at VGL India
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and can quickly get to know the answer to their query. In general testing alone, we have been able to detect 40 different types of stones until now, which were thought to be something else. We feel that the next stage for the lab should be the addition of an EDXRF machine, which can help us in the detection of various gemstones treatments, as well as in the detection of the origin of the gemstone. We felt this is an important step addition for
the gemstones department, since it acts as an additional
quality control measure, where we can ensure whatever gemstone goes out and comes in is up to the quality standards and most importantly is what we bought it as or will be selling it as. We would like to sincerely thank the whole gemstones team, maintenance team, admin team and to all those individuals who helped us out in materializing this initiative and made the gemstones lab a possibility! Kudos to the VGL team!
Gemstones Lab Team with delegates from Gemsfield.
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GPTW CHINA
STS China staff, Rex Cabacongan, Fany Luo and Raghuveer Patnala with GPTW representatives.
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GREAT PLACE TO WORK IN GREATER CHINA, celebrated their Conference and Awards Ceremony for the ‘Best Companies to Work for (R) 2016’ in their annual event, December 8th in Hong Kong
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LC IS AN OWLER HOT IN 2016 WINNER! Owler is a crowdsourced competitive insights group and they recognize the hottest trending companies in top Cities across the US according to their database. This can be a great recruiting tool and PR for us locally and nationally.
Liquidation Channel has been named a winner of our 2016 HOT in Austin Award!
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TJC CHRISTMAS PARTY!
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VGL CHRISTMAS CELEBRATION!
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VGL TEAM BUILDING OUTING
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Clicked by SANJIV ARORA
PHOTO SUBMISSIONS
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Photo Submission by SANJIV ARORA, Head Studio & Stores Sanjiv & his team went for a team bonding outing to Pushkar. Pushkar is a small town in Rajasthan, a state in north-western part of India. Pushkar has a magnetism all of its own – it’s quite unlike anywhere else in Rajasthan. It’s a prominent Hindu pilgrimage town. The town curls around a holy lake, said to have appeared when Brahma (a Hindu God) dropped a lotus flower. It also has one of the world’s few Brahma temples. With 52 bathing ghats and 400 milky-blue temples, the town often hums with puja (prayers) generating an episodic soundtrack of chanting, drums and gongs, and devotional songs.
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We would love to have contribution, feedback, comments and suggestion.
Please send them to: community@vglgroup.com