Q. What are the factors that provide a competitive edge to your company?

A. We have following strategy which provides competitive edge to our company:-

• Exclusive distribution rights
• Wide and exclusive variety of design
• Ongoing research and innovations in design process and surface ornamentation
• Ready stocks
• 100% Hallmark jewellery.

Q. How has the rising price of gold affected the jewellery business? Where do you see the gold price in future?

A. In our personal experience, the rising prices of gold has not affected the jewellery business. However, the quantum of purchases have changed. For instance, earlier Husband who used to gift gold set to his wife has changed his preference from:

However, this change in buying preferences has not affected our business. Earlier a gold set would cost around Rs 10,000 but with increasing prices of gold, even a gold ring costs more than Rs 10,000. The rising prices of gold has not affected the demand but has rather led to a situation of demand explosion as, we have three categories of consumers belonging to lower income level, middle income level and high income level. With an increase in the disposable income levels, the preference of lower income level consumer has been shifted to gold jewellery. Similarly, the preference of middle income and high income level consumers has shifted from gold jewellery to diamond jewellery. This has created a new segment for us and increased the demand for our business leading to demand explosion.

So, in our opinion, the rising price of gold has rather increased the business. Looking at the current trend, we feel that the price of gold will keep on increasing until the dollar becomes stable.

Q. Does the changing consumer tastes in terms of fashion affect the jewellery making business? How does your company cope with the changing trends?

A. In today’s world of ever-evolving fashion trends, we always strive to understand the current trend. We keep a check on the available designs, latest trend, and exclusive designs as per the consumer’s taste, and make designs accordingly. Our manufacturing process begins with the design, which begins from generating ideas and sketches as per required market trends, capturing every dot on a piece of paper and producing an art that would have a value tomorrow. Several versions are made, to achieve the right aesthetic value for the jewellery and we keep on changing our designs as per the prevailing market trend.

Q. What are the current trends in the sector? What are the consumer preferences?

A. The rising price of gold has led to the trend of consumers opting for light weight jewellery. Also, we are witnessing an increased trend of diamond jewellery purchases.

Q. What are your views on hallmarking of jewellery?

A. We believe in 100% hallmark jewellery and sell and export only hallmark jewellery. We have also promoted hallmark jewellery through a programme on Doordarshan. Hallmarking of jewellery is an assurance for the purity of gold for consumers. The market for hallmarked jewellery will increase if customer awareness about the benefits of hallmarked jewellery increases and subsequently, they start demanding the same. Further, jewellers who deal in hallmark jewellery can also create awareness and promote hallmarking, which can boost the demand for such jewellery.

Even in terms of exports, if jewellery hallmarking is made mandatory it can open new avenues for exporters, and increase the acceptance of Indian jewellery around the world (especially in countries where hallmarking is compulsory).

Q. According to you, what course of action should the government adopt to develop the Indian gems and jewellery sector?

A. According to us, the Government should allow direct import of gold to Indian gems and jewellery sector which will definitely help in the development of this sector.

Q. How big is the export opportunity for the Indian jewellery retailers?

A. We feel that the Indian Jewellers have very good export opportunity in Saudi Arabia, as consumers over there have similar tastes as Indian consumers. With a population of around 50 crores that belong to Indus civilization, Saudi Arabia’s per capita income is ten times higher providing tremendous opportunity. We are, therefore, trying to explore that market through the UAE.

Q. What would be the emerging areas of growth in the near future?

A. Growth in tier II cities is increasingly gathering pace and they will emerge as the focal centres of development. The moment this happens, it will increase the purchasing power of the middle income level group, which will ultimately help in increasing the demand for jewellery.

Q. What are the growth plans of your company in the future?

A. P.P. Jewellers is always open to new ideas and try to mould their business to meet emerging trends following the motto of perfection and purity. In this year, the group is about to open one of the largest jewellery showroom of the country in Karol Bagh, the heart of Delhi’s Jewellery District.

We are also planning to open showroom in Mumbai and and have acquired space in prime area of Mumbai. This area is the main area for trading loose diamonds in the world.

Further, we are also planning to open showroom in Ludhiana and have procured 5000 meters of space and are also planning to open an outlet in Kolkata.

The company is also in process of opening a school by the name of P.P. School.

Presently, we are concentrating in the opening of franchisee outlets. We are planning to open 50 franchise outlets across the country and two of our franchise outlets are already operational.