E-NEWSLETTER www.gematlas.com ISSUE: I APRIL 2014 Page 1 • From the GA Team • New Product Showcase Page 2 • To Tackle Low Profitability – Make Jewellery a Preferred Category Among Luxury Products in India Rather Than An Investment Option • Readers’ Voice Page 3 • Know Your Icons • News Round-Up Page 4 • Upcoming Events • Chai Time Homour INDEX ADVERTISE HERE TO PROMOTE YOUR BRANDS & SERVICES. CONTACT US TODAY!
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E-NEWSLETTER www.gematlas.com ISSUE: I APRIL 2014
Page 1• From the GA Team • New Product Showcase
Page 2 • To Tackle Low Profitability
– Make Jewellery a
Preferred Category Among Luxury
Products in India Rather Than An Investment Option
• Readers’ Voice
Page 3 • Know Your Icons • News Round-Up
Page 4• Upcoming Events • Chai Time Homour
INDEXADVERTISE HERE TO PROMOTE YOUR BRANDS & SERVICES. CONTACT US TODAY!
From the GA Team• Welcome to GemAtlas – A global
portal built to help business professionals like you navigate through the world of diamonds, gems and jewellery. We offer an invaluable platform for all segments of the industry, as well as allied sectors, and even students, to connect, share knowledge, establish partnerships and build business.
• GemAtlas is a membership-
based portal that offers you the virtual space to advertise products and services effectively to an organized database of the industry. All categories of membership are free for the next 3 months!
• Besides creating a coveted virtual space where you can showcase products and services, we hope to grow to become a “think-tank” that will help create a sustainable future for the diamond, gem and jewellery industry in India and globally.
• It is our endeavour to offer you
every competitive edge – keeping you abreast with the latest happenings, helping you keep track of new technologies and processes, educating you about best practices around the world with regard to HR management, administration, etc, and guiding you towards better business models and corporate governance.
From the GA TeamJoin GemAtlas, and:• Network & Procure Business
Leads • Access a Well-Organised and
Easily • Searchable Database of
Manufacturers, Suppliers, Service Agencies, Consultants, Bankers, Government Agencies, etc.
• Advertise Your Products on Your Own
• Customized Web-Pages on the Portal
• Get the Opportunity to Buy Advertising
• Space Where It’s Most Valuable • Partake in Trade Events,
Seminars, • Educational Sessions, Organised
by GemAtlas • Gain Access to Valuable News,
Updates on Current Events & Latest Trends, Analytical Commentaries & Insights
• Including Articles Written by Industry
• Leaders • Receive and Share Industry-
Specific Data • Keep a Watch on Forex Rates • GemAtlas aims to build a well-
connected community of industry professionals who can reach out to each other and share knowledge, information and ideas, both for their own development and the wider benefit of the industry. It will provide a one-point access to experts and consultants from varied fields.
• We invite you to explore and enhance the potential of your business with GemAtlas.
From the GA Team
The planet ‘55 Cancrie’, which was discovered in the Milky Way in 2004, is estimated to have at
least a third of its mass made up of pure diamond!
NEW PRODUCT SHOWCASEEvery month, the GemAtlas newsletter will makes jewellery business administrative showcase up to 3 new products from the gem processes easier, or even an outstanding and jewellery industry, which it feels deserves design or new innovative line of jewellery! special accolades for innovation in meeting Please submit your entries for a chance any industry need. This product can be a ma- for your product to feature in May 2014’s chine, design technology, some software that “New Product Showcase”.
ADVERTISE HERE TO PROMOTE YOUR BRANDS & SERVICES. CONTACT US TODAY!
To Tackle Low Profitability – Make Jewellery a Preferred Category Among Luxury Products in India Rather Than An
Investment Option So many jewellery retailers in India
feel that profit margins as well as turnover of their business are very dismal. For all of us who share this sentiment, perhaps it’s time that we as jewellery retailers take a good, strong look at the very foundation on which our businesses rest – our business models.
It does not take scrutinizing
market activities with a magnifying glass to realise that a majority of jewellery retailers in India, to this date, position jewellery as “an investment”.
This sets the stage for the low profit margins that so many people in the business have come to accept with a shrug of the shoulders. True market dynamics suggest that jewellery is actually more of a luxury and aspirational product in the minds of consumers, and so there is a complete disconnect between marketing messages and consumer psyche.
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To Tackle Low Profitability – Make Jewellery a Preferred Category Among Luxury Products in India Rather Than
An Investment Option
While there are indeed several Indian jewellery companies who have their fingers on the consumers’ pulse, and have been seeing exceptional profitability in the jewellery sector, most, in their pursuit to sell as “an investment”, find it impossible to justify higher prices.
Being bound to sell at the lowest possible prices means having to cut corners and creates a business environment that strongly limits creativity and innovation with design and manufacturing techniques. Products therefore fail to captivate the fancy of customers, and all this ultimately affects sales. The resultant low turnover makes it difficult to invest in R&D and good creative talent, and thus continues the viscous cycle.
If the truth be told, all of us in the jewellery space already know that, even at the low profit margins at which we operate – jewellery, is not an investment worth writing home about.
To Tackle Low Profitability – Make Jewellery a Preferred Category Among Luxury Products in India Rather Than
An Investment Option
What some of us don’t realise, however, is that most of India’s smart buyers know this too – Consumers have quite simply done the math. So, what’s happening is that a majority of jewellery retailers only manage to psychologically connect with a small segment of the actual target audience – people who still believe that jewellery is an investment – which should actually only constitute the peripheral audience. The reason that retailers have not been able to psychologically connect properly with consumers is because the very value proposition is erroneous.
Rather than competing with investment options that almost always offer better returns in the long-term, more gem and jewellery brands need to Be Repositioned to compete With other luxury, Aspirational products. Because that is truly what jewellery is – a luxury, aspirational product.As companies operating in the jewellery space, we need to follow marketing activities of other luxury and aspirational products like designer bags, designer clothes, premium watches, high-end mobile phones, etc. And, of course, we
Write to Us & Feature in the GA Newsletter! This section in our monthly newsletter will be dedicated to what our readers have to say. So, do write to us with your feedback, suggestions, experiences with GA, your valuable comments on our articles, or anything else. We’d love to hear from you!Email us at: [email protected]
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More ArticlesDIAMONDS: MINED AND LAB GROWN–TWO SIDES OF THE SAME COIN
- By the GA Team READ
MORE>>>GIVING MANUFACTURING PERSONNEL THEIR DUE
- By Hemant ShahREAD MORE>>>
KDM* – THE KILLER- By Nariman H. Wadia
READ MORE>>>DIAMOND JEWELLERY– A LUXURIOUS DREAM- By Hemant Shah
READ MORE>>>
READERS’ VOICEREADERS’ VOICE
READERS’ VOICE
To Tackle Low Profitability – Make Jewellery a Preferred Category Among Luxury Products in India Rather Than
ADVERTISE HERE TO PROMOTE YOUR BRANDS & SERVICES. CONTACT US TODAY!
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GemAtlas offers many services & categories to help you connect and conduct your business faster. Post your requirements under the service which you seek and the service providers will respond. Compare the various responses and pick the one that best suits you. It’s the easiest way to find the right fit for your needs. The various business services categories under which you can register are as under,and if you don’t find one that meets
your needs, contact us at: [email protected] To view services offered by
GemAtlas, click here.
KNOW YOURICONS Diamond Miners
Gold Miners (WGC)
Platinum Miners (PGI)
Colour Stone Miners
Accredited BullionManufacturer
Refiner
To Tackle Low Profitability – Make Jewellery a Preferred Category Among Luxury Products in India Rather Than
India Puts Up a Brilliant Show at BaselworldAt Baselworld 2014 (Basel, Switzerland) the India Pavilion comprised of the cream of the crop of Indian gem and jewellery manufacturers and export houses. Over 23 leading manufacturers participated in what is arguably the most coveted luxury show in the world. Read More>>> New Laser Melting Technique for Filigree WorkA new laser melting process being used for manufacturing jewellery makes it pos-sible to easily and quickly produce beau-tiful filigree work with many different metals like gold, silver and even platinum. The technique employs precious metal powders of required specifications to cre-ate the jewellery. The method is of special interest to designers and of course jewel-lery manufacturers. Read More>>>
Alternative Method for Accurately Analysing Gold by WeighingThe X-ray fluorescence method, because of its advantages of speed and precision, has been largely accepted as the norm for analysing precious metals like gold. An-other important strength of the method is that the piece of jewellery does not have to be melted in order to be valued. How-ever, there have been certain drawbacks with this method, because the technique only tests the surface of the metal. There are also metal testers available that use a different method for analysis. The devices analyse the purity of gold or platinum Read More>>>
A Call to Submit Entries for ‘Design For Asia Awards’The Design for Asia Awards (DFA Awards) is presented to companies and designers from around the world that have achieved business success through good design that reflects, or has an impact on, the Asian lifestyle. There are 18 different categories, which include the fields of products like jewellery, interiors, apparel and communi-cations. Read More>>>
EventMidEast Watch & Jewellery ShowGem and Lapidary Wholesalers Show,Orlando11th International Jewellery + Watch Vietnam7th Jakarta International Jewellery Fair 2014
Vicenza Oro Spring
International Jewellery Kobe
Jewelry Salon
GLDA Annual Las VegasGem & Jewelry Trade Show
Luxury
JCK Las Vegas Show 2014
When?
29th April to 3rd May, 2014
2nd to 4th May, 2014
8th to 11th May, 2014
8th to 11th May, 2014
10th to 13th May, 2014
14th to 16th May, 2014
15th to 18th May, 2014
26th May to 29th May, 2014
27th May to 2nd June, 2014
30th May to 2nd June, 2014
Where?
Sharjah, UAE
Osceola Heritage Park, Kissimmee, USA
Vietnam
Jakarta, Indonesia
Vicenza, Italy
Kobe Convention Centre, Kobe, JapanKrasnodar Expo Center, Krasnodar, Russia
Las Vegas NV, USA
Las Vegas NV, USA
Las Vegas NV, USA
EventsUpcoming
Chai Time!SPONSORED PUZZLE – ANSWER 1ST & WIN!
PONDER ON THIS:A turtle travels only when it sticks its neck out.
JOKING AROUND!
You’rea diamond in the rough!
In theROUGH?
Yes...you’re ALL MINE
Can you find the names of 9 fancy diamond shapes in the grid below, by looking at the letters in a straight line, in any direction?
E-mail us the names of the fancy shapes at: [email protected] The first entry in will receive this beautiful pair of Cubic Zirconia, Silver and Brass Dokra Earrings by Alcraftist.Please write to us if you would like to sponsor a jewellery prize for our Sponsored Puzzle section in a future newsletter issue. We’ll be extremely grateful, and it’s a great way to advertise your brand!