In a candid conversation with Parag Shah, Director of Kisna Diamond & Gold Jewellery, Solitaire delves into the brand’s strategic participation in IIJS and its impact on Kisna’s growth trajectory. From decoding the dynamics of India’s jewellery retail market to predicting future trends, Shah shares valuable insights into Kisna’s success and its vision for becoming the fastest-growing diamond jewellery brand in the country.
What sets IIJS apart from other jewellery shows or exhibitions? How does it contribute to the growth and development of the Indian jewellery industry?
IIJS has consistently demonstrated its commitment to showcasing the finest craftsmanship and innovation in the jewellery industry. The platform brings together a diverse range of exhibitors, from traditional to contemporary, creating a comprehensive representation of the rich and vibrant Indian jewellery landscape.
The show attracts not only a vast domestic audience but also international buyers, designers, and industry experts. This global exposure not only fosters collaborations and partnerships but also promotes Indian jewellery on the world stage, contributing significantly to the industry’s global footprint.
How do you plan to leverage IIJS to further enhance the growth and success of Kisna Diamond & Gold Jewellery?
IIJS has an established benchmark in the industry and Kisna’s participation at IIJS will definitely help us in elevation, networking, and market expansion. By understanding the evolving preferences of consumers and the latest innovations in the market, we can further adapt our product offerings to meet the changing demands of our customers, ensuring sustained relevance and competitiveness.
We intend to use IIJS as a platform to showcase our latest designs and innovations. This includes highlighting Kisna’s commitment to superior craftsmanship, unique design and concepts. This exposure will help us distinguish ourselves in a competitive market. Keeping up with the momentum, we are positive that IIJS shows will contribute to our growth trajectory.
How would you describe the current market landscape for jewellery retail in India? What factors are driving the growth of the industry?
The Indian jewellery market is characterised by diverse consumer preferences, reflecting a blend of traditional and contemporary tastes. The changing demographics of the consumer base, with a significant proportion being millennials, have influenced the types of jewellery in demand. Modern, lightweight, and versatile designs are gaining popularity among younger consumers.
There has been a noticeable shift in purchasing patterns, with a growing preference for organised retail outlets and branded jewellery. Consumers are increasingly valuing the transparency, quality assurance, and standardised pricing offered by established jewellery brands.
Economic Stability, Disposable Income, Fashion Trends, Online Retail & E-commerce, Technology Advancements, and Organised Retail Players are some of the factors driving the growth of the industry.
What factors do you attribute to the success and growth of Kisna Diamond & Gold Jewellery in the highly competitive retail market? How do you differentiate your brand to appeal to customers?
The success of Kisna can be attributed to a strategic blend of factors. The brand’s strength lies in its diverse product range, accommodating various consumer preferences and occasions, from traditional to modern designs. Building a strong brand identity and fostering customer trust through transparent practices, ethical sourcing, and reliable customer service further contribute to Kisna’s success.
Our offline expansion plans through the adoption of the franchise model are in line with Kisna’s business approach and long-term vision to make diamonds accessible to the modern Indian women. The brand has been the most important partner for retailers by offerings its wide assortment of designs, ranges, and a seal of being a trusted brand. This helps the brand reach every aspirational woman of the country, thus marking its presence across 3500+ in-store retail outlets across India.
Kisna caters towards providing a customer-centric approach, personalised services, and a focus on overall customer satisfaction in order to enhance the shopping experience. The brand’s adaptability to market trends, innovative retail experiences, and competitive pricing with a strong value proposition ensure Kisna’s ongoing relevance in a dynamic market.
What are your predictions for the future of the jewellery retail market in India? What key developments or changes do you anticipate, and how can retailers prepare to thrive in the evolving landscape?
The future of the jewellery retail market in India is likely to witness significant transformations, driven by evolving consumer preferences and technological advancements. A key trend is the ongoing digital transformation of the sector, with retailers expected to invest in robust online platforms to meet the preferences of tech-savvy consumers.
The integration of online and offline channels is poised to become increasingly critical. Retailers should adopt an omni-channel approach to provide a seamless experience for customers, combining in-store experiences with online features such as virtual consultations and augmented reality try-ons.
Data-driven insights for targeted marketing will be crucial for retailers. Utilising customer data to understand preferences, buying behaviours, and market trends will inform personalised marketing strategies, fostering stronger customer engagement.
Anything else that you may wish to add.
Regarding Kisna’s Franchise Operations and Retail Expansion, in terms of retail expansion, Kisna’s strategic focus on opening new stores and reaching untapped markets is instrumental in its overall growth. The brand’s expansion strategy includes a mix of establishing flagship stores in prominent locations and penetrating emerging markets to capture a wider customer base.
The company is focusing towards rapid expansion of its franchise operations and to have the widest Kisna Franchised Retail Chain across the country. The brand has opened showrooms in metro cities like Delhi, Mumbai, Bangalore, Hyderabad and Tier 1 & Tier 2 cities like Jammu, Hisar, Raipur, Bareilly, Ayodhya, Siliguri and has many more in the pipeline. This diversified approach aligns with the brand’s commitment to offering a diverse product range, ensuring that it caters to a broad spectrum of consumer preferences.
As a part of our rapid franchise expansion plans, we envision Kisna to continue to be a partner and confidant to every woman on all the occasions that she chooses to celebrate. We aim to be the fastest growing diamond jewellery brand in India and make every woman’s dream of owning a diamond jewellery come true.