They are all over the world, even in the most unlikely places. Over the past few decades, the Indian gem and jewellery industry has not only extended its reach into every continent, it has aggressively moved into leadership positions everywhere. This incredible expansion started with a group of pioneers, who were simple men from traditional Indian backgrounds. But they displayed an uncanny foresight and single-mindedness of purpose that built up their small diamond and gemstone trading businesses into the multi-billion-dollar empires of today.

Even though India was where diamonds were first discovered and where the secrets of cutting them were first learned, the pioneers knew that success in the 20th century depended on discarding the millennia-old traditions and techniques and embracing modern ideas. They brought in experts from Belgium to teach the fledgling Indian export-production diamond industry to cut and polish stones the modern way. Having succeeded beyond anyone's wildest dreams in that field, they turned their attention to the export-production of jewellery, once again realising that the traditions of several thousand years of jewellery making would not help them conquer overseas markets. They embraced new designs and mass-production techniques and here too they succeeded beyond all expectations.

They were able to understand and penetrate overseas markets. They built alliances with the modern distribution systems of the west and they embraced the mantras of quality and reliability that are absolutely essential to success in these markets. Their success was, in large measure due to the traditional extended Indian family. In an industry where trust and integrity matters above all, the extended family provided the essential tool for Indian gem and jewellery businesses to expand and diversify. But the world has changed and so has India.

Today the country too has abandoned its old, inward-looking ideas and has embraced the concept of globalisation. Along with this, the new generation that is at the helm of India's successful gem and jewellery firms have realised that once again, they have to adapt to change and embrace new ideas. While they hold their forefathers and ancestors who built up the businesses as their role models, they know that to survive in today's relentlessly competitive world, the gem and jewellery industry has to turn increasingly to professional management and marketing. The individual is no longer as relevant as the team. The Young Turks know that the way forward is through a team effort.

COURTING SUCCESS

Ajay Kakadia CEO, Kiah - Sheetal Group

A computer science degree from the US gives Ajay Kakadia, scion of the Sheetal Group, a different bent of mind - one that has worked in his favour. Heading the jewellery section he has been instrumental in making 'Kiah' a premium jewellery brand in the country. He has other successes too in the management of the company, but, the Young Turk is disinclined to take the full credit - "I would say that the blueprint was laid down by my father. What I have done is implemented and executed his vision. It has been a progressive change, and each and every person in the company has contributed to it."

The 25-year old Sheetal group, a DTC sightholder, has come a long way since it started as a small set-up with a couple of diamond polishing machines. Today, it is one of the world's largest volume manufacturers of polished diamonds, thanks to the efforts of the founder - Govindbhai Kakadia. Besides the domestic branded jewellery segment, Ajay is also actively involved in research and product development.
On the management style in his company Ajay iterates that the group has always believed in participative leadership. "We have been recruiting a professionally qualified workforce for all our departments viz. production, strategising jobs in marketing, sales, administration and human resources. As we move forward I see more people becoming a part of the team. I am totally in agreement that management professionals, whether from outside or inside of the family, do play an important role."

Ajay is vocal about the problems that face the industry, "I am sure all the industry people will agree with me when I say that as of today, what the industry lacks is a proper organised retail side. India is the leading diamond polisher and a pro in diamond jewellery manufacturing, but with the advent of retail and mushrooming of malls, it's high time that the domestic jewellery industry gets organised."

MANAGEMENT MANTRA
Remain open to learning and from everybody

THE RIGHT MOVES

Amit Dhamani MD, Dhamani Jewels, Dubai

Ten years after setting up his coloured stones business in Jaipur, LN Dhamani ventured into Bangkok in 1990 making a strategic move that would give the group a definite edge in the business. Seven years later, his son Amit Dhamani continued the tradition by setting up a base in Dubai, where the company is presently headquartered. The group also moved into the manufacture of high-end jewellery. It runs a coloured stone cutting factory in Thailand and manufactures jewellery there, as well as in Beirut, Istanbul and Valenza.

Dhamani supplies mainly to the quality conscious European market and to a few important buyers in the US. Amit Dhamani takes great pride in the fact that they adhere to the highest quality standards. "Every single piece is designed and created by us," he says. In 2000, the company moved downstream and set up its own jewellery stores. Presently it has 14 Dhamani stores in the Middle East with plans to expand it to 35 by 2008. With fifteen-plus years in the business, this young businessman has been steering the company in the right direction making it one of the biggest players in the Gulf.

"We place great importance on ethics and business principles. Our goal is to give the customer the right product at the right price," Amit says. On the style in the firm, he says, "Management style of the company was centralised leadership, ie owner's involvement in all aspects. Now we have assigned individual jobs and responsibilities with employees participating in the management."

With operations spread all over the world, the group employs people of fourteen different nationalities making it a real multinational corporation. "We believe management is not only inborn but also created. We have professional degree holders in many of our departments who participate in the overall management," Amit adds. He himself has acquired training in various gemmological institutes and fine-tuned his awareness under the tutelage of his father. In addition, he is not oblivious to the advantages of constantly upgrading his skills through management courses, giving him an added edge in the business.
The group is focussed on diamond and coloured stone jewellery, keeping in mind the demand for this segment. "We consider this as our strength," states Amit and is confident that the group will be soon one of the front line jewellers in the world.

ROLE MODEL
Father, L N Dhamani

MANAGEMENT MANTRA
Hardwork and commitment always pays

MOTIVATED TO PERFORM

Ashish Kothari Senior Director, Jewelex India Pvt Ltd

Jewelex is the jewellery-manufacturing arm of the P D Kothari Group, a DTC sightholder for more than 30 years. Ashish Kothari started his career with the inception of Jewelex and is today in charge of the jewellery operations of the group in India. He says, "We are a family-run organisation going through challenging but necessary changes. Our family bonding is one of our greatest assets and we are confident that we will able to do so. My role, along with other members of our family, is to ensure the successful transition from a family-run organisation to a professional organisation."

Prior to joining the group, Ashish underwent jewellery training at a factory in New York. He acknowledges that his father has been a great mentor. A believer in constant learning, he has not been averse to training in new standards via leadership courses and following management books. "It has worked well," he acknowledges.
In the past 12 years the company has grown from a workforce of 40 to 1000; sales turnover from $200,000 to $64 million. "As important as this growth, Ashish points out, "is the fact that we have stuck to the strongest code of ethics and honesty and maintained a very fine reputation in the industry. Additionally, we are known for our innovation, styling, the quality of our products, people and manufacturing consistency."

Ashish sees a tremendous potential in his people. "Our team is truly our most important asset. We need to find ways to unleash and maximise this talent." He shows a rare sense of dedication to the industry with his desire to set up a training centre - "which I aspire to be the finest in India," he adds.
Lack of investment in R&D as also in talent, is a worrying point for Ashish. Yet he is happy with the fact that jewellery companies are now moving faster towards professionalism. "International counterparts are better in styling and technology but they do not have the hunger to do business as we do," Ashish reveals.

ROLE MODELS
Father, Piyush Kothari and uncle, Atul Kothari

MANAGEMENT MANTRA
Give respect and tap the unlimited potential of people

LED BY END-RESULTS

Colin Shah Managing Director, Kama Jewellery

His success story is an inspiring one to those forced to change tracks due to circumstances. Born into a medical family, Colin Shah too wanted to be a doctor but the 'system' put a spanner in his dreams. Even though he was a topper at the medical prelims he was unable to get a seat, missing out by a paltry one per cent difference. Disgruntled, Colin tried his hand at various options until one day he had a chance meeting with Navin Jashnani (Sama Jewellery) who advised him to pursue a course at IGI. He did so, more out of curiosity than anything else, and it proved to be a turning point in his career.

Colin worked at a manufacturing plant learning about diamond polishing and assortment and four years later, at the age of 21, he branched out on his own. He started by selling polished diamonds to retailers in the south and by the time he turned 25, had already started exporting. Meanwhile, he indulged in jewellery manufacturing too, catering to family and friends and partly to the Gulf market. Unable to meet the demand for jewellery with the limited set-up, Colin decided to start a casting jewellery factory with the initial know-how from Tristar. In 1996 he got together with Mamta Apparao, ("One of the finest women I know," says he) and started Kama Jewellery. "I did not have access to huge capital and contacts to build a company. But this industry has a lot of good people who were willing to give a newcomer like me an opportunity," acknowledges this young achiever.

Today, Kama is a name to reckon with, boasting of a global clientele, a presence in all the major diamond jewellery markets, a 16,000 sq ft manufacturing facility and a workforce of 450 well-trained artisans and professionals. It also manufactures and exports high-quality gold and platinum jewellery. "Our core strengths as a company are fantastic products at very competitive prices. We specialise in bridal products for the American market," reveals Colin.

Colin's role model is Narayan Murthy of Infosys, a perfect choice for an individual who believes in professionalism on all fronts. Says Colin, "The driving force has been to build a model jewellery company." He comments that the industry lacks education and professionalism. "The plus points are we have dynamic people who have an enormous risk-taking appetite."

MANAGEMENT MANTRA
Focus on the end result only!

CHANGE, GROW AND SUCCEED

Deepak Kavadia CEO, Nice Jewels, Nice Gems

Deepak Kavadia is an example of the Indian ability to take the industry beyond the country's shores. Working out of New York, this young achiever heads Nice Jewels and Nice Gems, dealing with diamonds and jewellery. Deepak started working part-time even as a school kid and when he entered the family business, he did so with an eye on expanding the family-owned company and transforming it into a publicly traded company.

Prior to moving to the US, Deepak worked rigorously, getting trained in India, Hong Kong and Japan. He believes in branding and was keen to establish a label that people would seek out. "I changed the marketing strategy, expanded the business in Asia, optimised the business operations and introduced new products," he states. His contribution to the industry has seen him elected as a director on the board of the US-based Indian Diamond & Colorstone Association (IDCA).

Deepak's core strengths are his desire to change, grow and succeed. "Along with my management skills, a knowledge of both the supply and demand side is my key for success," he comments. And his achievements prove his point - he has led the company to achieve 100 per cent growth for three consecutive years.

Deepak is not short of confidence. Having brought Nice Gems and Nice Jewels to the forefront, he now aims to diversify into other fields. "My father started the business and made it into a multi-million dollar venture. Now I, along with my father and brother Rakesh, envision Nice Gems and Nice Jewels as being a major player in the jewellery industry not only in India but globally," he states confidently.

Deepak has some interesting ideas on how to tackle the lack of investment in the industry. "Compared to other industries, the jewellery industry does not attract major investors. I feel that diamonds should be sold against letters of credit or by cash - even to retailers and wholesalers. Every year, suppliers lose millions of dollars because of a non-standardised and a weak credit system. I believe the intervention of DTC in standardising the credit system could increase the size of the jewellery industry tremendously."

ROLE MODELS
My family and friends, especially my sister Palak, who is my business planner and advisor

MANAGEMENT MANTRA
Never compromise on your principles

THE ITALIAN AFFICIONADO

Hitesh Lohia MD, Silverline Jewellers Pvt Ltd

At 30, with less than a decade of experience in the industry, and more importantly, with no family connections to the trade, Hitesh Lohia could be an anomaly in the Indian gem and jewellery industry. And yet, with others like Colin Shah, he represents the new face of the brave new future - the entry of professionals unconnected to the industry by a bloodline, but just as infatuated and dedicated to the business.
Hitesh started his career in 1996 with a leading diamond company, wholesaling and retailing high-end jewellery and lifestyle products in India. In 2001 he opted to go solo and ventured into manufacturing with the launch of Imagem. His goal - to produce jewellery products that were design-oriented and not just cast pieces of jewellery.

"Anticipating the huge demand and inclination towards designer jewellery and also being aware of the absence of fashion statements in jewellery, gave me the platform to invest in Imagem. Our objective is to project a story, to associate a concept with every piece of jewellery, using the power of colours and innovative ideas so as to focus on the design, aesthetic appeal, innovation and creativity," he explained.
What gives Hitesh the edge is his passion for jewellery and an unshakeable zeal to provide something different to the customer with an overriding goal for excellence. Extensive first-hand exposure to the global industry and an association with lifestyle and luxury brands has endowed him with the ability to discern between the ordinary and the extraordinary. "My past connections with the Italians and with the consortium, bridged the way to start a project to promote Italian craftsmanship and design in India," he states. The project was Italindi, launched in 2003.

On management styles, he reveals, "If you want to be a leader in the ever-changing, highly-competitive and extremely exciting gem and jewellery industry, you need an insider's perspective and an executive's insight. I always try to instill this practice in my companies."

On the future Hitesh states, "I want Imagem to be recognised and known in India, as well as globally, for delivering products which are unique. My ambition is to make Imagem a fashion house to cater to every perception and requirement of the industry."

MANAGEMENT MANTRA
Treat every occasion as an opportunity to enhance your efforts… Evolve with every accomplishment

A BUSINESS OF FULFILLING DREAMS

Kunal Shah Managing Partner, KBS Designs

The Kanubhai B Shah Group (1975) laid the foundation of KBS Designs in 2001, with the vision of being an industry leader in the diamond jewellery segment. Kunal Shah was entrusted with the reins of setting up KBS Designs and today, his elders at the parent company have seen their trust bear fruit. The company now works with a whole spectrum of retailers from specialty stores to mall-based retailers and wholesalers.

Acknowledging the invaluable guidance received from his elders, Kunal says, "I believe that the previous generation has given us a fantastic platform in terms of financial resources and goodwill." On the difference between the two generations, he says, "They have worked hard and their management style was more hands-on. The scale of operations today is much larger and hence we have to groom leaders continuously at every level. The most important thing I have learnt so far is that we need a great team to build a great company and that there are no short cuts in this regard."

Currently taking care of the marketing, product development and HR needs of the company, Kunal believes that the group's strength and accomplishments so far have been a result of the good customer relationships and the asset of having a team bound together by strong values. He has definite plans for the future. "We strongly feel that the future is all about vendor-managed retail spaces. The vision is to strive for respect, with a strong presence in the international branded jewellery segment." He adds eruditely, "Today it's not enough to sell just anything: there is a growing demand for extraordinary fabrication of even the most ordinary designs. Hence we want to keep raising our quality standards and persist in reinventing, to be always relevant to the times."
On the international scene, Kunal feels that Hong Kong is a strong source for and manufacturing, Italy for higher-end products and Bangkok for diamond and coloured stone jewellery. "India has developed a niche in the diamond jewellery basics and we are getting stronger in that category," he adds.

ROLE MODEL
Narayan Murthy of Infosys

MANAGEMENT MANTRA
Have very strong values, believe in a vision and work tirelessly in that direction without worrying about the results

ORIGINAL & DIFFERENT

Milan Chokshi Managing Partner, Eternity Jewels

Jewellery was an integral part of Milan Chokshi's life even while he was in college. Apart from the natural inclination for the business, what seemed to spur him on was the opportunity to start something new. Armed with a graduate jeweller degree from GIA Carlsbad, classes in casting in New York and a short stint under Hetal Vakil in designing, he moved to Tanvirkumar to start a career that seemed tailor-made for him. Today he looks after the development of the jewellery divisions of Tanvirkumar Diamonds Ltd, namely Eternity Jewels, Summit Jewellery and Moksh.

Milan puts a premium on reputation. "We want to continue building a name for innovative products like using fancies with Eternity, and at the same time move towards high-end products. With Summit, we want to grow with the retail houses and possibly become the most important part of their supply chain. In Moksh, I see a lot of potential for export of handmade Indian jewellery."
On management styles, he says, "It is not just management degrees but professionals in a particular field who make a difference. We are inducting trained professionals in design, product development, human resource as well as accounts."

However, the Young Turk notes with concern, "The industry lacks the ability to appoint and retain professionals. I also feel that on occasion we bend over a bit too much to get business and are too aggressive." He adds, "On the plus side our commitment and integrity levels are definitely high. Although it sounds clichéd - we truly are a one-stop shop for the world in gems and jewellery."
Milan is confident that domestic business will become as big as the international market. "At the same time, with the economy opening up and international brands coming in, it could get very competitive in the local arena. China is our biggest competition, and if we overcome the hurdles in consistency and quality, I doubt we would have too much competition."

ROLE MODELS
Father, Tanvir Chokshi and uncle, Nailesh Chokshi

ACUMEN & EXPERIENCE

Rahul Dholakia Director, Shree Ramakrishna Export

Like so many stories that inspire new generations to forge ahead in their endeavours and aim for the skies, the story of Shree Ramakrishna Export's ascent to the top has been an interesting one. Nobody appreciates it more than Rahul Dholakia, the young scion of the Dholakia clan who now plays a vital role in the company's fortunes. Reveals Rahul, "My uncle, Govind Dholakia started off his career in 1964 as an artisan in one of the diamond manufacturing units at Surat. He came from the rural interiors of Saurastra without anything. His skills and persistence to succeed, led him to create enough capital to fund his own manufacturing unit." It was in 1976 that Govind Dholakia started Shree Ramakrishna Export and today his unit employs over 5,000 dedicated people who have helped to propel the company to dizzying heights.

Taking care of the finance division and the sale of polished diamonds across the world, Rahul has over 12 years of experience that gives him a definite edge in the business. "I started at the bottom - understanding the basics of diamonds, working with roughs, handling the polished and moved slowly up in the chain. I was fortunate enough to learn a lot from my uncle as also other seniors in the trade."

Presently the second-in-command of the operations of the company, Rahul has an interesting view on the difference between his company and the others. "I would like to believe that whereas most other companies are run by the mind, ours is dictated by the heart." A thinking that he supports with the way the staff welfare activities are managed in the manufacturing units and offices everywhere. "We treat all employees as a part of our family. At our working places we do not enforce any strict regimes. The craftsmen work at their own pace. Knowing that the work they do is affected by what happens on their personal front, we try to make their lives as comfortable as possible."
Surprisingly, unlike many other sightholders, this Young Turk has no plans of entering the brand market. "The business in diamonds is itself huge and remains unexploited. To cater to the domestic market we do have Jewelgoldi as the local jewellery manufacturing arm and we feel that there is no need to have a local brand."

ROLE MODEL
Uncle, Govind Dholakia

GUIDING PRINCIPLE
Honesty is the best policy

AMBITION & ZEST

Rihen Mehta Director, Rosy Blue

Rosy Blue is one of the largest and most reputed companies in the industry. With activities spread all over the world, the 50-year old company continues to pave new avenues in the gem and jewellery business. Rihen Mehta, who entered the folds of the company a couple of years ago, seems to have all the right ingredients to take on the mantle of the group in the future.

After a BSc from the University of Warwick and a graduate diamond degree from GIA Carlsbad, Rihen followed up with a year's training in the diamond cutting and jewellery manufacturing factories belonging to the group. On the management style in the industry he says, "I feel that it is quite authoritarian with a hierarchical structure and very small top management. Things are definitely changing with professionals being inducted in the fabric of companies. Greater attention is being paid to aspects like ethics and social responsibility." He also reveals that experience is far more important than educational knowledge in this industry. Negotiation and people's skills are also more important than actual theory.

Rihen plans to contribute to growing the business - more in terms of bottom line than top line. He would like to diversify into other areas, which are related to the group's core business. In a decade from now he hopes that he would be able make his elders proud of his contributions to the company.

For a youngster, he is candid about the industry's lacunae - professionalism and margins. But he takes care to assure that the plus points of the industry are many - "commonsense being the biggest; skill and friendliness even among the competitors, another." The industry will consolidate in the future, he feels, "Maybe the Pareto rule will come into place, where 20 per cent of companies will be handling 80 per cent of the business."

ROLE MODELS
Lots of people, but mainly elders of the family

MANAGEMENT MANTRA
The only thing that is ever constant is change

THIS ONE'S A MOGHUL

Roopa Vohra Revivalist & Couture Jewellery Designer

Her introduction to the art, says Roopa, happened by chance. "Ten years ago, when I started there was no such thing as jewellery designing. I would say I am involved in the process of reviving art and that probably qualifies me a jewellery designer. It was during my husband's posting in Cyprus that I was influenced by glass and gold. But it had not quantified into anything. Around 1995-96 during my visit to India I came across a book from the National Museum that talked about Thewa artwork. We were about to move back to India and I thought - why don't I do something to revive this art? That's how I came to be a part of this industry."
She counts, very rightly, the revival of Thewa as one of her major accomplishments. Subsequently, she says, "We were successful in reviving Naqaash and Rose Cut as well. Our success of retaining the pride and beauty of these ancient art forms has been one of my greatest accomplishments."

Roopa went on to launch a series of collections such as Naqaash, (again a 400-year old Mughal architectural art form recreated to produce chic pieces of jewellery), the Rosecut Collection, the Cocktail range (a blend of rose cut diamonds and precious stones such as rubies, emeralds, sapphires, topazes etc.). "Currently we are in the process of working the intrinsic designs of Persia. These different forms of art have been revived with fine detailing," she reveals.

As much as she is revered by the new designers who are entering the industry, Roopa looks askance at the plethora of people who are getting into designing. "Today the industry lacks commitment. Jewellery designing is not only about designing jewellery - it's a hardcore business. Every other person, with just a little financial backing, wants to be a designer not realising the fact that it needs to be followed seriously with utmost commitment."

The talented designer is clear that importance has to be given to retailing strategies. "A decade ago, retailing was not happening as it is today. When we started, shopping malls like Shoppers Stop and Crossroads had just come up and we started retailing here. But since our designs catered to a niche clientele and required an ambience that retail counters could not offer, we changed our strategy. In 2001, we focussed on boutique stores." Roopa plans to start her boutiques in other parts of India, in addition to the ones already running in Mumbai. Moreover, she showcases her designs through regular shows in India and abroad.

LIVING UP TO THE MARK

Shreyansh Kapoor Vice President, Kashi Jewellers

The Kashi Jewellers group in Kanpur is a definitive example of location not being as important as most people assume it to be. Founded in 1955, by the late Keshav Nath Kapoor, Kashi Jewellers had a humble beginning as a retail outlet. Over the years, it diversified further and is today recognised as a reputed export house with the additional fame of being the only manufacturer and exporter of handmade jewellery from the state of Uttar Pradesh. The group has associate offices in New Delhi, Kolkata and Mumbai with manufacturing facilities at Kanpur and Kolkata.

While Shreyansh Kapoor is the third generation entrant to the family business and boasts of appropriate training and experience in the industry, his father Rajendra Kapoor, CEO of the company, is himself an IITian, with an MTech from Canada. His mother Shail Kapoor, with a fashion designing background, plays the perfect foil to her husband by heading the designing department.
Shreyansh joined the family business after completing his BSc in Business from Kelley School of Business, Indiana University (USA) after which he had a brief stint at Prudential Financial. He worked with Kashi Jewellers for about a year and then did a graduate diamond course from the GIA. "The sound technical education and rigorous training gives me a competitive edge, he points out" A VIP alumni member of GIA, he also has numerous recognitions and honours, which include being chosen as a leader in the jewellery industry by the Retail Management Group, India.

As head of marketing and manufacturing, Shreyansh was also responsible for starting the first private diamond lab in the state, giving customers the opportunity to see and understand the intricacies of the diamonds they purchased. "Since I have joined the business, we have moved to a new office. I have been involved in streamlining processes in the office and am concentrating on expanding our exports. Today we have opened offices in Eastern Europe and US and are planning four more offices in India and two internationally," informs Shreyansh.
The group is consolidating its position further with the start of a new company The Ray Incorporated at the Manikanchan Special Economic Zone Kolkata. It has already scaled high figures by becoming the highest diamond/coloured stone studded handmade jewellery exporter from the zone.
Speaking about the sector, he says, "The jewellery industry is not organised and lacks monitoring bodies, apart from the GJEPC. The industry needs a common and concrete platform to voice its opinions strongly. The most important positive point of this industry is the trust and faith of the customers."

ROLE MODEL
Father, Rajendra Kapoor

MANAGEMENT STYLE
An open door policy: Suggestions and inputs are welcomed from every team member

AN ASTUTE BUSINESS POLICY

Sunit and Shweta Kothari & Dhaval and Kunal Mehta Diatrends Jewellery Pvt Ltd

Diatrends has rich antecedents in the late Bhogilal B Mehta's pioneering efforts and in Kunal Diamonds. Mehta was one of the first sightholders in India who put the country firmly on the diamond trading world map. The new venture came about when the third generation, Kunal Diamonds' Yatish Mehta's sons - Kunal and Dhaval - and his partner Sanjay Kothari's son and daughter-in-law - Sunit and Shweta - joined the business. Recognising the potential in the jewellery business, they went on to make Diatrends a formidable jewellery manufacturing company.

Says Kunal, "When we entered the business in the 1990s, the diamond business had reached saturation point due to immense competition and dwindling profits. The only scope of expanding the business was manufacturing and exporting jewellery, a business that was still in its infancy. Besides, the diamond business had scope for creativity, and this was something that interested all of us."

In keeping with the times, the quartet is intent on professionalising all the way through. "The earlier diamond companies and ours too (Kunal Diamonds) were family-run companies with limited employees, who were, most of the time, also extended family members or close acquaintances. But with the expansion of business and operations and an increase in the number of employees, a more professional approach towards management was required. Hence, we employed professional managers to run the business, primarily in the areas of operations, sales and designing," Dhaval comments.

Shweta, who oversees product development, feels that the core strength of Diatrends is its design edge. "Innovative designs and styles have been the focus of our business. Through stringent research and development, we consistently produce exquisite design collections. A leading, internationally acclaimed Italian designer works in tandem with the in-house team to create exclusive jewellery designs every year." Manufacturing excellence complements the design edge. "The optimised utility of resources results in minimum wastage and maximum productivity. Which eventually gives you the advantages and benefits of on-time delivery of quality products, at a competitive price," Sunit adds.

Proud of their 40-year old legacy of business ethics and human values, which forms the core group philosophy, they wish to continue with the principles of honesty, integrity and transparency, which, Sunit states, characterises the company's business policy.
With clients spread all over the world and an annual increase in turnover of around 25 per cent every year since its incorporation in 1994, the foursome has reasons to be proud. But they are astute in their reckoning. "We have always been taught that the customer is king and it is he who runs our business. Hence customer satisfaction and customer care are the prime focus of our organisation."

ROLE MODELS
Late Bhogilal B Mehta, Yatish Mehta and Sanjay Kothari

GROUP PHILOSOPHY
Honesty, integrity and transparency

A RESPONSIBLE AUTHORITY

Vishal Shah Director, Vijaydimon

Vijaydimon, a DTC sightholder, was one of the earlier organisations that ventured into the diamond jewellery business 15 years ago. The company was started by Vijay Shah in Belgium in 1967. His son, Vishal Shah, soon after completing his MBA, joined the family business in 1997 intent on continuing the family tradition.

Vishal confides that Vijaydimon places a premium on integrity in all their business dealings and emphasises that good human resource is the backbone of any large organisation. "I also believe that authority and responsibility go hand in hand. We have business interests all over the world which are ably managed by professionals and this influx of professionals in a traditionally run business is a positive change." He adds, "We are very fortunate to have a talented and dedicated team of professionals managing our world wide operations."

The management graduate looks after the day-to-day business and the overall functioning of all the group's activities such as purchase, marketing and identifying and setting up new business collaterals. His own strength, he associates with the company. "Vijaydimon's core strength, undoubtedly, is its unmatched reputation. Our global network with rough supplies from DTC, Rio Tinto and Alrosa; diamond manufacturing set-ups at Belgium and Bangkok, diamond distribution networks in Hong Kong, Singapore and UAE, our state-of-the-art jewellery manufacturing unit at Seepz catering to the US markets - all these are definitely a big plus." He reveals that Vijaydimon has recently entered the retail segment with the opening of its flagship jewellery showroom, Signet, in New Delhi - "which completes the chain of mines to market activities of the group," he adds.

In the future, Vishal sees Vijaydimon maintain its position as a leader in the diamond trade even as they move aggressively into retailing. "We are hopeful of expanding Signet into a six-store chain in India in the next three years and then take it global," he says. The company is constructing a 115,000 sq ft factory in Mumbai and is slated to commence production in early 2007 which will cater to their domestic and export jewellery commitments.

On the developments in the industry, Vishal agrees that there has been an explosion in the last three years with new players entering into the market. He comments, "However, there has been a shake out in the last six months or so, as the discerning consumer wants his money's worth vis-à-vis designs, finish and quality, thanks to the increased level of awareness." He informs that the branded jewellery segment has grown approximately by 11 per cent in the last year and states confidently, "We at Signet feel very confident that we are creating our own space in the branded jewellery segment."

ROLE MODEL
Father, Vijay Shah