With three patented diamond cuts under his belt, Ashish Doshi, Owner, Oopal Diamond, speaks about the need to constantly innovate to stay on top of the game.
Oopal Diamond’s journey began in 1998 with its manufacturing set up in Deesa, Gujarat, and sales & marketing office in Mumbai. The company was promoted by Shashikant Doshi, who initially specialised in just round cuts.
Today, Oopal Diamond is an RJC-certified company that offers 10 types of high quality fancy-shaped diamonds.
Ashish Doshi, the company’s owner, reveals the commandments that it holds sacrosanct in order to grow business.
Your company is comparatively young and was established in 1998. Tell us the secret of your success …
We have tried to follow every rule of the business, yet there is scope for improvement and we do continue to strive to be better – be it business ethics, social performances or environmental performance.
Constant innovation to create a product a cut above the usual is what we persevere for. In diamonds, we chose to produce fancy shapes rather than the regular round shapes, and excelling precision cut and sheen to disperse optimum light and brilliance of stones. Thus, diamonds manufactured by us are a notch above similar stones of the same colour and clarity.
This is nothing special yet it’s the thought process and mentality ingrained in every member of our company to get the best out of the work we do. Sometimes, it may not be a wise business decision financially, yet when I look back today it’s paid off for us in the long run. The untiring efforts of our team and the Almighty’s blessings have brought us to where we are today.
You are an RJC-certified company. How stringent are the rules to get an RJC certification? What sort of changes did you have to make to comply with the guidelines?
RJC is particular and meticulous to whom they give citations, as one needs to follow all rules of business ethics. Yes, we have toiled to follow all the norms from the beginning and reiterating perseverance at our end has bought us to qualify for all compliance guidelines laid down by RJC. It’s not a one-day job to get the certification, it’s a journey!
We would like to know about the weightage given to R&D and technology in your company?
Innovation is the key — be it cuts or improvisation in cuts to get an extra sheen from each stone. That is our speciality. We have developed three patented cuts till now, and we are always looking at ideas to innovate new cuts in diamond manufacturing.
Further, we have ventured into fine jewellery manufacturing under the name of ODI Jewels and are catering to leading wholesalers and retailers across India. We are also licensees of Disney Jewels for the Indian market. Here again, high quality finish with latest innovation in design and impeccable finished jewels have helped us to be a notch above in jewellery manufacturing.
Your company specialises in 10 different diamond cuts, with your core speciality being princess cuts. Which cuts are in demand in the Indian market?
At this juncture emerald cuts and ovals are in good demand. Earlier, we excelled in straight edge fancy shapes, now we are concentrating on curvy cuts such as pears and marquise along with oval and emerald cuts as they are doing well.
We’d also like to know your strong export markets—and what is trending in terms of cuts and carats in each of those, in general.
Our export destinations are USA and Europe, and oval, emerald cuts, baguettes and marquise are in demand there. The favoured carat sizes are between 10 points to 50 points.
Do you manufacture lab-grown diamonds, and do you think the Indian market is ready for LGDs?
We are not manufacturing LGDs yet; our focus is on natural diamonds only. In my opinion, I don’t think the Indian market is still ready for LGDs.
Will LGDs overtake natural diamonds in the near future?
The charm of natural diamonds will remain forever, and I don’t see LGDs overtaking natural diamonds in the near future.
Anything else you may wish to add
Innovation and precision, work ethics and processes will define the future for any manufacturer. Dependability is a tag we have to eventually earn from our customers, and that is gained after a lot of perseverance. Our mantra has been to ‘focus without deviation to excel’ and that I guess has been the key to our success.