gematlas e-newsletter, june 2014

GemAtlas e-Newsletter, June

2014

E-NEWSLETTERwww.gematlas.com ISSUE: 3 JUNE 2014

“TRADE SHOW PARTICIPATION -MOST EFFECTIVE TOOL - A ROADMAP TO SUCCESS”.

By Hemant Shah, Independent Consultant, Speaker and InnovatorOn Saturday, 5th July, 11 am to 12 noon

INDEXPage 1

• From the GA Team

• Issue Soecial

• New Product Showcase

• Artricle - Creation of SharedFacilities Can Help Cater to SpecificNeeds of Consumption Demand

• Readers’ Voice

Page 3• Benefits of Posting Service Offerings or Enquiries on GemAtlas.com• News Round-Up

Page 4

• Upcoming Events

• Chai Time Homour

Webinar!

India’s gems and jewellery space iscurrently experiencing many challenges. Afew of them are:

A lack of consumer interest in jewelleryproducts; A lack of the industry’s focus andcommitment to the future of their businessto an extent, which is seen in a lack ofadequate new product development andpromotion of the product category; Theemergence of the Surat Bourse and itsaccompanying insecurity about the extentto which it will draw business away fromMumbai; The emergence of high-qualitylab-grown diamonds; Unstable gold priceswhich have us often buying at one priceand selling at a lower one.

Through articles we write, the topics werequest guest authors to write on, andthrough our Issue Special sections,

we have been addressing some of these challenges. Keeping in mind the challenges theIndustry is facing, especially the diminishingshare of the consumers’ wallet, we at GAdecided to tap in to Sanjay Kothari’s vastexperience in the industry and as a leaderwho has a vision and passion for theindustry. We would like to thank him forhis perspective on what the future lookslike, and his insights...

READ MORE >>>

© 2013 -2014 Gem Atlas, All Rights Reserved

From the GA Team

Issue Special

An Interview with Sanjay Kothari,Convenor, PMBD Sub-committee –GJEPC, on ‘The Future of the Gem

& Jewellery Industry’GA: In the broad perspective What is your view on the future of the Industry?SK: I see a bright future for the

industry-Onewhere it is well-controlled and managedand where mining companies are focused.Of course, the challenges are greater thanthey were in the 80s and 90s, but thefuture is bright, nonetheless.

GA: We see challenges like:a. Synthetic diamonds; b. Lack of consumerinterest in the product; c. Lack of theindustry’s focus and commitment to thebusiness; d. The Surat Diamond Bourse; e.Unstable gold prices.Can you state the 3 biggest challenges theindustry faces today?

SK: The biggest and most importantchallenge is the credibility of the industry.Since the last 10-15 years...

READ MORE >>>


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Best ReadCreation of Shared Facilities Can Help Cater to Specific

Needs of Consumption DemandBy the GA Team

With innovations in jewellerymanufacturing techniques movingforward at a galloping pace, it’s hardto keep up with the varied demandsof the jewellery consumption segment.Consumers are well-versed withstyles, designs, and even productiontechniques to some extent. They arebeing more vocal about what they wantthan ever before. It is becoming lessand less possible for sales personnel tosteer walk-in customers away from aparticular demand that cannot be metand towards other options.

It is becoming increasingly importantfor jewellery retailers to be able toaccess the whole gamut of currentdaymanufacturing technologies andequipment. But, the kind of investmentsthat this would entail makes it a distantdream for even most large jewellerymanufacturing companies, and certainlyso for small ones. Perhaps exploring thepossibility of creating shared facilitiesoffers a worthwhile answer.

If one dissects the value chain of theindustry, there are already many differentexternal processes involved before a pieceof jewellery is ready for sale. Metals likegold may be imported. Diamonds andcoloured stones are sourced from traders,who source them from mining companies.Craftsmen are employed for cuttingand polishing stones and manufacturingjewellery. Many different jewellers usethe same suppliers and service providers.So, why not go a step further and poolresources for manufacturing equipment?

Beyond helping large manufacturersincrease their production capabilitiesmanifold, shared equipment would improvethe playing-field for smaller players. Let usconsider the possibility of shared facilitiesin the dozen or so major jewellerymanufacturing clusters in India, as anexample. The clusters include areas aroundJaipur, Surat, Mumbai, Coimbatore,

Trichur, Hyderabad, Nellore, Kolkata, Delhi andAmritsar. Shared facilities in big jewelleryclusters such as these would facilitate theadoption of new technologies in designand manufacturing that would otherwisenot be possible. Moreover, it would helpkeep a check on working conditions inthe industry. Small jewellers privy to suchcollaborations could even innovate, andadapt the latest international designs andtechniques to meet local preferences.

Even for large retailers, demands forspecific pieces of jewellery that employnew, unusual techniques and facilities, orsatisfy current trends, often do not justifylarge spends on equipment. Employing theconcept of shared equipment could verywell be the answer.Mehernosh Printer, well-known consultantfor setting up factories, said, “I think shared

Creation of Shared Facilities Can Help Cater to Specific Needsof Consumption Demand

By the GA Team

equipment is just what the industry needs.Clients constantly ask me about howthey can improve processes, and manydo dedicate strong budgets towardsthat end, but, as with any manufacturingmachinery, costs are prohibitive, and onehas to compromise somewhere. Even if afew companies were to collaborate, costswould come down and customers couldget a lot more options. I would say thiswould in fact likely push consumptiondemand, because according to what clientstell me, if customers don’t get what theyare looking for, they often won’t settle forsomething else.”

Improvements in infrastructure wouldlead to a greater value addition acrossboard, and the share of the organizedmarket would grow.

According to FICCI Report ‘All thatGlitters is Gold: India Jewellery Review

READ MORE >>>

Creation of Shared Facilities Can Help Cater to Specific Needsof Consumption Demand

By the GA Team

READERS’ VOICEI have browsed through you newsletter and

found it very informative, Interesting and impressive.

I am sure that Gem and Jewellerytrade and industry

should find it very useful in their spheres ofactivities and command a wide viewership for their own

benefit. I look forward to receiving future issues.Keep up the good work.

Dorab Tata, Ex-Director I Hennig & Co. Ltd, London.


More Articles

WHY INDIA’S GOLD IMPORTSREALLY INCREASED &HOW TO INCREASE SUPPLYFROM RECYCLABLESOURCES- By Sanjeev Agarwal, Core Member,FICCI Gems & Jewellery Committee

GEMS – A SPIRITUALPERSPECTIVE- By Neera Kapur, Christian SciencePractitioner & TeacherHOW TO MAKE YOUR MEETINGSMORE PRODUCTIVE- By the GA Team.



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Benefits of Posting Service Offerings or Enquiries on GemAtlas.com

With the advances made in Internettechnology, businesses now preferonline classified advertising because itreaches maximum customers. Moreover,it is much more economical thanother forms of advertising. GemAtlastakes classified advertising to anotherlevel. This is because it is highly specialised to the gems and jewelleryindustry – and with its numerous servicescategories, one can hone in on a veryprecise target audience quickly, and setthe wheels of business transactions inmotion, equally quickly.

All along people have been lookingfor a medium where they can posttheir offerings and requirements, andhave their messages delivered to theright customers or service providers.GemAtlas provides that medium. Inthis section of our last newsletter, wetalked about “How to Make EffectiveUse of GemAtlas.com” – this time, wewould like to talk about the benefits ofmaking postings on GemAtlas vis-a-visother media:

• You have the opportunity to advertiseyour services and products to a wide global audience of GemAtlas registeredmembers.

• Provision to display your product alongwith the offering to help you reach youraudience with your product, virtually.

• You can control your selling, buying, andcommunity activity. Once you make a postit remains there for a month, but if yourrequirement is fulfilled you can deactivateyour post before expiry. That way, youcan avoid a scenario where people keepcontacting you after the requirement isfulfilled.• You can view the number of responsesreceived and also view all responses at aglance, allowing you to make quick decisions.


Posting on GA, helps you undertaketwo-way communicative marketing, wherecustomers/ suppliers can quickly and easilygive feedback on your product / services.

• By posting on GemAtlas, you not onlyget new customers, but you will be ableto reach out to new wholesalers or manufacturers, who are able to supply you with products at lower rates. This will provideyou with a wider variety of suppliers, andalso give you a chance to expand yourproduct range.

• Notifications on the go! Whenever anyresponse is received for your posting youreceive an email notification, allowing youto stay in touch and access your posts anytime.

• View detailed information about yoursupplier / service provider by clicking ontheir name.

It will display their businesscards with basic contact details. You canalso search for them in the Yellow Pageson the dashboard to view their completeprofile and additional details.View the video by accessing the followinglink: https://www.youtube.com/watch?v=i3WUaexxLJE


NEWS ROUND-UPChow Tai Fook Announces Decisionto Buy Hearts On Fire Co for$150MHong Kong’s Chow Tai Fook JewelleryGroup Ltd recently announced its decisionto acquire 100% stake in U.S.-based luxurydiamond jewellery company ‘Hearts OnFire Co’ for $150 million. The decision ispart of the Chow Tai Fook’s strategy toexpand its high-end product range...Read More >>>

IGI Teams With GJSCI to ProvideProfessional Courses in IndiaThe International Gemological Institutehas announced that it will be joining handswith the Gems and Jewellery Skill Councilof India (GJSCI) to provide professionaltraining in various services related to the...Read More >>>

NEWS ROUND-UP

Zimbabwe Using Diamonds toSecure International LoansStarting May 1, 2014, Zimbabwe’s diamondmining firms have been selling their stonesthrough the South African country’s centralbank, after receiving orders from theGovernment to do so. Secretary of Mines,Francis Gudyanga, sent a letter to miningcompanies operating in the country onApril 28 and the order came into effecton April 30...

Read More >>>

36th World Diamond Congress is aGreat SuccessThe 36th World Diamond Congress washeld in Antwerp, Belgium, between the15th and 18th of June, 2014, at the HiltonHotel. The main sponsors for the event


were AWDC (Antwerp World DiamondCentre) and courier company MALCAAMIT...

Read More >>>

GJF Launches Labham – An EducationalProgramme for Compliance& Best PracticesThe All India Gems and Jewellery TradeFederation (GJF), which is the nationaltrade federation for the promotion andgrowth of trade in Gems and Jewelleryindustryhas initiated a first-of-its-kind educationalprogramme for manufacturers,retailers, wholesalers, traders and all othermembers of the gem and jewellery business.The programme called ‘Labham’, waslaunched amid a lot of fanfare in Rajkot, onJune 1, 2014, and represents the first...

Read More >>>

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gematlas e-newsletter, june 2014

Business

gem jewellery industry

biggest challenges theindustry

bright future

gem atlas

lack of consumerinterest

lack of theindustrys

ga teamissue

product category theemergence