Thursday, February 26, 2009: 10:43:26 AM

Retail Biz Personality of the Fortnight

A Sparkling Career - Lokesh Jain, Shanti Parshv Jewellery

Lokesh Jain, Director, Shanti Parshv Jewellery, has led his company on the growth path for a whole decade. Today, the Mumbai-based company is one of the foremost retailers, suppliers and manufacturers of diamond jewellery in the country.

 

Jewellery – A Stepping Stone

Renowned for its exclusive designs and quality, Shanti Parshv Jewellery has become a treasure-house of timeless collection of diamonds. The company has evolved over the years under the able guidance of its Director, Mr Jain. The initial years of his entrepreneurship were difficult. However, he believed that maintaining consistency in the quality of jewellery products was extremely important. With this strategy in mind, Mr Jain made his foray into the jewellery business. His managerial skills enabled the company to emerge as an important jewellery retail company in India.  

 

First step and the Challenges

Mr Jain had prior experience in retailing since he had managed his family business (a small textile retailing business) for a short period of time. Well-versed with the dynamics of rise and fall in market demand and supply, Mr Jain had a thorough knowledge of the ever-changing market trends. This helped him to commence his own diamond jewellery business by opening its first outlet in Mumbai in 1998.

 

Although, there were several challenges ahead for Mr Jain that included achieving product quality, corporate governance and strong infrastructure, he did not compromise on the quality, and explored every trade opportunity that came his way. Lack of technological advancement and inadequate financial packages were the major impediments during the initial phase of Mr Jain’s entrepreneurship. Dealing with these issues was not an easy task and he had to constantly ensure that his company’s manufacturing, production, processing and human resources were up to the mark. By doing so, Mr Jain strove to not just survive but stay ahead of the cut-throat competition. Eventually, Mr Jain with his perseverance and dedication worked with a focus on customer satisfaction. His relentless efforts and rich industry experience have made it possible for him to gain customer confidence as well as healthy profits. 

 

Personal Attention

Mr Jain is known for his proficiency and expertise that has made him one of the most enterprising directors in this business. He personally supervises the production processes in his diamond grading labs and gold-plating processes. Well-aware of the client preferences, he works towards offering a gamut of diamond jewellery at par with the client expectations. He also works towards appointing quality controllers to ensure that the diamond and gold collections are of the highest quality and authenticity. According to him, “Every piece of jewellery crafted by us is a hallmark of quality and comes with a certificate of authenticity.”

 

Attracting New Buyers

In the wake of the current global financial crunch and the fluctuation in gold prices, there has been an uncertainty in the jewellery market. Every sector is reeling under the heat of the economic downturn. In such a situation, Mr Jain feels that it is important to concentrate on innovative jewellery cuts and designs that appeal to the customers and fit in their budget. He opines, “As a well-organised manufacturing unit, we are always in the best position to meet the large scale requirements and deliver the same within the promised time frame.”

 

Evolution never stops

Mr Jain hopes to continue with his jewellery retailing business and take it to new heights. He says, “Our commitment towards perfection and ability to offer diverse and flawless products to our clients remains our USP and the most important goal.”  Due to the current economic meltdown, Mr Jain intends to continue with his retailing business in Mumbai. However, he does not rule out the option of further expansion in future.


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