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Ecommerce To Be Next Big Avenue For Gems and Jewellery Trade

Monday, July 11, 2016

Adish Shah,

Adish Shah, CEO,, the genY entrepreneur is bullish on the gem-n-jewellery industry. He believes opportunities abound with e-commerce and the trade is set to attain the stature of a ‘global design and business destination’. In conversation with Dominic Rebello, he explains the growth potential of the sector and how he plans to lead from the forefront.

What is your prime objective at Jewelemart?
As we know the jewellery market is un-organised and I wish if I could contribute to make the market organised. My overall endeavor is to provide a proper platform to the diamond jewellery segment. Through our web portal we wish to bring our Indian jewellery, crafts, artisans’ creativity and innovative designer jewellery on to the global village market to make it available at just a single 'click'. Today, we see the favorable wind with the Union government’s Skill India, Make in India and Start Up India like initiatives! We want the jewellery buyer across the globe to find India's cutting edge jewellery and craftsmanship attractive.

How would you motivate buyers to ‘click’ on your website?
Earnestly we have undertaken a study of buyer attitude. An online buyer is quite different from the buyer at a family jewelers’ shop. In the era of trust deficit, buyers want to be ensured about quality of metal and the stones. And as I said earlier, we would offer jewellery with Hallmarking and our gems-n-stones would be a 'Gem Verified'. There will be a buy-back policy to ensure buyer confidence.  
What benefit would you pass to your buyer?
The key benefit is jewellery with creativity, an innovative edge, unique designs, ensured quality, ultra finishing and a competitive price tag for every buyer. We would offer a jewellery range directly from manufacturers to buyers. The key benefit would be the surety of buying exactly what is being claimed on the portal.
How would manufacturers be benefited?
Manufacturers have to carry on manufacturing consistently and leaving the botheration of marketing and sales, promotions, advertisement-n-publicity on us. We would shoulder all such pressure. So manufacturing activities would be encouraged!
Being a common dais between seller and buyer, what Jewelemart would charge?
There are no charges to the buyer in any form. We ensure to pass the same tag which is being offered by manufacturers without any hidden charges. De facto, online buyer has many choices to be ensured about our offer!

How do you look at growth of e-business or e-commerce?
By referring latest Assocham report I say, Indian e-commerce market is set to grow by 67% in 2016 to US $ 38bn, against the previous market volume of US $ 23bn. De facto buying online is growing swiftly. 38% of the age group of 18 to 25 is a regular online buyer, while from the age group of 26 to 35 years there are 52% regular online buyers. No doubt as of today online jewelry buying contributes about US $ 200mn or say of Rs.1256 crore in the total e-commerce basket yet, we would hike up gem-n-jewellery share.

What is your expected turnover and profit during the first three years of operation?
We are expecting Rs 100 crore turnover in the first year of operation (2016-17) and while the second year should see a growth of 50%, the third year growth is expected to swell by 200% i.e. Rs. 300 crores.

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