AVINASH PAHUJA & RAVISH PAHUJA, the dynamic DIRECTORS OF ORO PRECIOUS METALS PVT. LTD., lead the company with a 135-year-old legacy, which is a remarkable achievement and no mean task. Building on a strong foundation of R&D and adopting the latest technologies, they innovate designs that appeal to a broad demographic both in India and abroad. ORO is renowned for its world-class expertise in working with gold and platinum. Under the able leadership of Pahujas, ORO has solidified its reputation for excellence and foresight. The company’s unique approach to every aspect of the jewellery process – from design and merchandise to supply chain management and after-sales service – has established ORO as a market leader.
Oro is renowned for both gold and platinum jewellery – essentially bangles and bracelets. How do you approach the design and crafting process differently for these two metals? What unique features or innovations can buyers expect from your gold this year given that the prices are shooting through the roof?
Being a design-first manufacturing brand, at ORO we innovate our designs based on two important Ts – tech and trends.
While gold has been our forte since generations now, platinum has proved to be a learning curve leading to unmatchable product mix. The universe of gold products is diverse as per demographics and cultural orientation and our team works rigorously on providing collections based on various parameters of weight, style, functionality, occasions, etc.
Platinum has a unique design language that attracts its audience, a rather contemporary style with a neo modern approach, allowing us to use the best of our creative resources.
The gold rate has been rising every year, which makes us believe in the power and sentiment of the metal. We provide value for the purchase in all our products. Value is luxury in a mixed jewellery market like India and we make sure that ORO products fill this gap well.
Could you discuss any notable trends or shifts in customer preferences that ORO has observed in the gold jewellery markets?
A notable trend shift across markets is that gold is no longer viewed as merely a traditional metal used only for special occasions. The design language of our gold jewellery is highly international, ensuring that jewellery is not just for the locker but for wearing and flaunting!
How does ORO ensure the highest standards of quality and craftsmanship in your jewellery pieces?
At ORO, all our products go through a rigorous CNC finishing process. Since these techniques are machine-oriented, we get consistent results in finish every time. We take utmost pride in our manufacturing technology and innovations, leveraging this tech to its fullest. Product development is at the heart of our brand, infusing marketing and sales energy to the rest of the team.
Oro has penetrated the UAE market, renowned as a gold epicentre. What unique product differentiations have you implemented to captivate this discerning clientele? How do consumers perceive platinum jewellery in this market, and what insights can you share about the growth trajectory in terms of sales?
The focus on platinum, particularly in the men’s category, is gaining significant traction in the UAE. Platinum’s appeal is partly due to cultural and religious factors, with many clients appreciating its status as a luxurious metal. Much like how platinum is the highest tier in the credit card hierarchy, it is perceived as a superior metal.
Thanks to the continuous efforts by PGI in educating and marketing platinum, its rarity and exclusivity are becoming more recognised. Platinum jewellery is not commonly found in many retail stores, which helps maintain its exclusivity and sets it apart from gold. Gold and platinum cater to different markets, and their designs are distinct. Platinum jewellery features clean, crisp designs with a German finish that enhances the metal’s sheen and texture.
Regarding growth prospects, platinum is relatively new to the UAE market, but it is expected to follow the trajectory seen in India. The international influence of the UAE and the marketing efforts by PGI are poised to elevate platinum’s presence. Over the next year or two, platinum is anticipated to gain significant traction among a niche, educated audience, leading to broader acceptance and visibility.
ORO is primarily into gold jewellery business. How has the company fared in terms of platinum sales?
Gold has been our primary business for the last 20 years and spans across three generations. Platinum, however, entered our portfolio about 12 years ago when Vaishali Banerjee of PGI saw our gold products and realised that this was the kind of quality and precision she wanted for platinum.
Initially, we worked with platinum products as we would for gold products, but with PGI’s help, we understood that the treatment of platinum products had to be different. We invested in machines, a special team, and training to sell platinum jewellery effectively.
Over the last four years, we’ve seen phenomenal growth in this category. Platinum now constitutes about 30% to 40% of our business and continues to grow.
Although gold and platinum markets are very different, working with platinum has brought us a lot of learning and innovation. The positive feedback from our clients reinforces that we’ve been doing it right.