Wednesday, March 04, 2009: 10:12:59 AM

Retail Biz Personality of the fortnight

A Glittering Persona — JB Shah, JB and Brothers

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JB Shah, Director, JB and Brothers, is the man behind the rapid growth of his company. Today, JB and Brothers is a name to reckon with in the diamond retailing business. This Mumbai-based mid-sized company has grown from strength to strength over the years, offering varied services to its long list of clients.
 
First steps
 
During the 1970s, making a mark in the highly competitive retail business was a big challenge for a new entrant. This challenge however did not deter Mr Shah’s spirits as he set out to create a niche for himself in the competitive business environment. He realised that there was a robust demand for diamond jewellery and diamond products. Hence, he was confident that there was immense opportunity for starters like him. With able support from his brother, Mr Shah started his diamond business in Mumbai in 1977, with a single store shop. Thus, he laid the foundation of JB and Brothers.
 
He started the company as a family business. During this period, trading and exporting diamonds or diamond products was at a nascent stage.
 
Obstacles turned into Opportunities
 
Mr Shah diversified when he entered the business of diamond manufacturing and diamond export simultaneously. In his initial years as an entrepreneur, he encountered several impediments. Nonetheless, he had a strong determination and will power to reach the top. His focused approach to work inspired him to continue with his diamond retailing and manufacturing business in the face of odds. His relentless dedication towards his company and undying efforts led him to spread his business further. Soon after setting up a supply store at Mumbai, he opened its new supply chain in Surat, Gujarat.   
 
Vision and Ideals
 
Mr Shah says, “We believe in the four Cs for diamond trading, namely, confidence, creation, consistency and commitment.” Since inception, Mr Shah has focused on perking up quality and supplying polished diamonds. At the same time, he has also concentrated on maintaining consistency in the product supply. He feels that it is imperative for companies to offer value to their clients at competitive prices. Therefore, he has ensured that there are no compromises on the quality of the products. He has ensured that each diamond is subjected to a round of stringent quality checks by a team of experts.
 
Today, his enterprise offers customers an unlimited collection of polished diamonds. His strategic business endeavours have enabled his company to develop a healthy business relationship with a majority of the jewellery showrooms across the country. JB and Brothers supplies its diverse range of well-crafted designer diamonds to these showrooms.
 
Improving Infrastructure
 
Mr Shah’s experience in the diamond business has made him aware of the trends and challenges in the business. He says, “I had apprehensions when I made a foray into the diamond retailing and manufacturing business. However, after making inroads in this segment, I realised that the greatest challenge lies in building a proper infrastructure in the manufacturing centres.” Today, the company has state-of-the-art infrastructural facilities in its manufacturing unit at Surat. It has 1.75 lakh sq ft of working space and employs nearly 2,000 artisans. Mr Shah personally supervises the entire manufacturing process — right from the process of acquiring raw materials to ensuring perfectly graded polished diamonds.
 
Targeting new markets
 
Today, JB and Brothers has expanded its presence in the global market. Mr Shah proudly says, “We have already established our presence in the US, Belgium, Canada, South Africa and Hong Kong. We aim to diversify our business in other mature markets as well. In the wake of the present economic crisis, we are not undertaking new ventures right now. However, we propose to expand our business once the market conditions turn favourable for us.”

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