{"id":27534,"date":"2024-08-23T14:57:40","date_gmt":"2024-08-23T09:27:40","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=27534"},"modified":"2024-09-02T17:58:06","modified_gmt":"2024-09-02T12:28:06","slug":"legacy-of-leadership-dr-vinod-hayagriv-chaitanya-v-cotha-ckc","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/legacy-of-leadership-dr-vinod-hayagriv-chaitanya-v-cotha-ckc\/","title":{"rendered":"Legacy of Leadership: Dr. Vinod Hayagriv & Chaitanya V Cotha, CKC"},"content":{"rendered":"

Dr. Vinod Hayagriv, GIA GG\u00ae, C. Krishniah Chetty Group of Jewellers<\/em><\/strong><\/p>\n

\u201cConsumers don\u2019t always know what they want. We need to anticipate their desires and introduce innovations they haven\u2019t imagined.\u201d<\/em><\/p>\n

\u201cKnowing the exact mine and country of origin is crucial for buying and selling. For example, Panjshir emeralds, mined in a remote valley between Afghanistan and Pakistan, are rare due to their limited four-month mining season, adding to their allure and rarity. GIA instils this level of detailed knowledge, which we apply daily at work.\u201d<\/em><\/p>\n

Chaitanya<\/em><\/strong> V Cotha, GIA GG\u00ae, C. Krishniah Chetty Group of Jewellers <\/em><\/strong><\/p>\n

\u201cJewellery designers are indispensable regardless of technological advancements. Technology only aids production, human creativity defines design\u2019s essence.\u201d<\/em><\/p>\n

Q1. How has C. Krishniah Chetty Group of Jewellers (CKC) maintained its legacy over 155 years? What are the core values that have been essential in maintaining this legacy?<\/strong><\/p>\n

Dr. Hayagriv<\/strong>: Running a successful business is fundamentally about transparency and honesty. This principle holds true across all industries, including ours. There can\u2019t be conflicting agendas; the primary goal must always be the truth. Longevity in business stems from this approach.<\/p>\n

Q2. Dr. Hayagriv, having led the company for numerous years, what leadership practices do you believe have been crucial for longevity in this business?<\/strong><\/p>\n

Dr. Hayagriv<\/strong>: Building a brand is a long-term process. In 2009, we interviewed a merchandiser from Sydney, Australia, for a position at CKC. When I asked why she chose India, she mentioned the country\u2019s future potential and saw CKC as a promising option. During our conversation, she pointed out that Tiffany, having become a publicly listed company, has been managed by professionals since the 1960s and no longer had a single owner. This professional management approach greatly enhanced Tiffany\u2019s brand building. This insight highlighted the effectiveness of their management style.<\/p>\n

\u00a0<\/strong>Q3. <\/strong>\u00a0Which leadership practices have helped you in building a successful brand like CKC?<\/strong><\/p>\n

Dr. Hayagriv<\/strong>: We all belong to various management groups, each with its own philosophies. By listening to them, you realise how unique or similar you are in your approach. Whether it\u2019s the traditional Peter Drucker style of management or modern management techniques, there are distinct differences. Peter Drucker\u2019s ideas were relevant in his time, but many of his concepts need to be adapted or modified for today\u2019s world.<\/p>\n

Take, for example, the luxury strategy outlined by Jean-No\u00ebl Kapferer in his book on the subject. Every word, sentence, and page in that book is meticulously crafted, compelling you to read it multiple times to grasp its deeper meaning. Such books provide invaluable insights into how businesses, particularly in the luxury sector, should be run. It\u2019s challenging to explain everything in a short period, but there are numerous lessons to be learned from organisations and influential works like Kapferer\u2019s \u201cThe Luxury Strategy.\u201d<\/p>\n

Q4. As a younger leader in the business, what modern approaches are you implementing to prepare the company for future challenges?<\/strong><\/p>\n

Chaitanya<\/strong>: It\u2019s all about speed. Many things are changing rapidly, especially with technology. New applications and artificial intelligence (AI) tools are making work more efficient and enabling better synchronisation across teams. Today, it\u2019s about information and data. I believe AI will revolutionise every sphere, from design and manufacturing to retail and customer interactions. That\u2019s a key focus for us. Recently, we trained our team on Instagram to become influencers. By leveraging Instagram, our team members can use the platform to enhance sales. This training helps everyone stay in sync and maximises our use of these technological advancements.<\/p>\n

Q5. How do you embrace new technologies while maintaining the integrity of traditional craftsmanship in your operations? From a customer\u2019s point of view, how do you seamlessly blend classic craftsmanship with modern innovations as a legacy brand?<\/strong><\/p>\n

\u00a0<\/strong>Dr. Hayagriv<\/strong>: Jewellery comprises various segments, one of which is craftsmanship. In our industry, craftsmen are irreplaceable; their skills are our USP. We must maintain this craft by equipping craftsmen with advanced tools to enhance their productivity. Using modern tools allows them to work more efficiently, producing better results with less effort.<\/p>\n

Contrary to popular belief, consumers don\u2019t always know what they want. We need to anticipate their desires and introduce innovations they haven\u2019t imagined. Consumers are willing to experiment if we provide them with compelling options.<\/p>\n

While traditional business aspects remain crucial, integrating new technology can significantly enhance the customer experience.<\/p>\n

Chaitanya<\/strong>: I believe customers often need guidance to make a purchase. For example, I was in the store when my team struggled for over an hour and a half to sketch out a customer\u2019s requirements. To streamline the process, I used an app on my phone and asked the customer directly for their preferences\u2014size, colour, and occasion. This interaction took just 15 seconds and with the help of the app we were able to sketch the design. We sent it to the factory, and the customer made a significant purchase based on that quick exchange. This method eliminated the lengthy process of sketching, rendering, and editing, all within 15 seconds. This is the approach we\u2019re implementing in our stores and offices to enhance efficiency and customer satisfaction.<\/p>\n

Q6. How do you see the role of jewellery designers evolving with the advent of new technologies? Do these advancements diminish the need for their skills or enhance their creative potential? What are your thoughts on this?<\/strong><\/p>\n

Chaitanya:<\/strong> Designers are indispensable regardless of technological advancements. Their skills are pivotal in crafting the final product. While technology facilitates the process, the essence of design lies in human creativity. Machines can only expedite tasks, designers are indispensable.<\/p>\n

Dr. Hayagriv:<\/strong> The skill set of designers has evolved. It\u2019s crucial for every designer to continuously enhance their skills, especially in the realm of social media and emerging fashion trends. Failure to adapt to these changes can pose challenges in creating designs that resonate with consumers, particularly Gen Z. Today\u2019s designers must be adept at understanding the unconventional thinking of consumers.<\/p>\n

In the past, focus groups were essential for gathering consumer insights, but now, social media serves as a vast virtual focus group. Staying connected to the digital world is imperative for designers, as it provides invaluable insights and inspiration. While the fundamental role of designers remains unchanged, the methods of delivering products have evolved with the digital age. Therefore, it\u2019s not just about being connected to devices but also about how effectively designers utilise these tools to innovate and create.<\/p>\n

Q7. What initiatives are you taking to engage with the next generation of customers and employees?<\/strong><\/p>\n

Dr. Hayagriv:<\/strong> Skill development is an ongoing journey. We may not always possess the exact skills required, leading to a gap between what\u2019s needed and what\u2019s available. To bridge this gap, organisations require dedicated individuals who encourage continuous learning and growth. Reinvesting in continuous education is essential to enhance capabilities, ensure sustainability, and foster growth within the organisation. Without this commitment to skill enhancement, some individuals may find themselves stagnating. Therefore, prioritising skill development is integral to a successful business strategy.<\/p>\n

Chaitanya:<\/strong> I believe fostering inclusivity is vital. Nowadays, people enjoy participating in diverse areas, and our approach emphasises teamwork over hierarchies. Working as equals cultivates a sense of ease and comfort among everyone involved, ultimately contributing to a smoother process overall.<\/p>\n

Q8. Can you share any memorable interactions with customers that left a lasting impact?<\/strong><\/p>\n

Chaitanya:<\/strong> One memorable experience for me was when we first launched our Instagram page, I\u2019m the type of person who likes to be hands-on, ensuring everything runs smoothly and engaging with everyone.<\/p>\n

I recall an important conversation with a woman from either America or Ireland\u2014I can\u2019t remember exactly. She didn\u2019t know about CKC, nor did she know me, and I didn\u2019t know her either. She kept asking if we could custom-make a ring. This commission took an entire week, during which I communicated with her constantly, creating sketches, designing, and updating her. Eventually, she placed an order through Instagram worth over one core, which was significant.<\/p>\n

Another notable experience was when we launched our lab-grown diamond collection. A couple came in to buy jewellery, and there was a noticeable age gap between them. The woman had very specific requirements for the jewellery, which the man found challenging to meet. Despite this, they ended up choosing lab-grown diamonds for all their wedding jewellery. This was surprising to me, as I had never seen a couple opt for entirely lab-grown diamonds for their wedding before.<\/p>\n

Dr Hayagriv:<\/strong> Some clients truly stand out, like Vijay Mallya, a renowned figure and a longtime friend. Despite his controversial public image, he has always been a reliable client. His family has been with us for three generations.<\/p>\n

Vijay\u2019s love for jewellery is unique. One memorable project was creating a lifelike Pegasus inspired by his United Breweries logo, complete with moving wings. He was so thrilled that he had us make various items featuring the design.<\/p>\n

Another striking experience involved crafting jewellery from lion claws he had obtained through licensed hunting in Africa. We cleaned and processed the claws, turning them into a magnificent collection. Vijay\u2019s eclectic tastes and unique requests, make him one of our most fascinating clients.<\/p>\n

Q9. Managing a family business can involve complex dynamics. How do you approach resolving differences in opinion within the family?<\/strong><\/p>\n

Dr. Hayagriv:<\/strong> If it\u2019s up to me, I say let the questions come and embrace dissent. As some management gurus suggest, being surrounded by \u201cyes-men\u201d is a recipe for failure. You need a team with different opinions and approaches. Foolish ideas can turn into a winning solution. Embrace dissent and diverse ideas\u2014they can lead to breakthroughs.<\/p>\n

Chaitanya:<\/strong> Every month, we lock ourselves in a room and brainstorm the most outrageous ideas. Everyone contributes, and we write them all down on a board. While some ideas are wild, we focus on the top two or three and commit to making them happen. We\u2019ve been working on one such idea for over six months, and we hope to see it through soon. It\u2019s crucial to come prepared with information, statistics, and data. Convincing each other is key. I\u2019m fortunate that, despite my dad\u2019s stature in the business, he has never dismissed my ideas as foolish. Instead, he always finds a way to make them work. This approach, where data-backed ideas are nurtured, is a cornerstone of our success.<\/p>\n

Dr. Hayagriv:<\/strong> I\u2019d like to add that it\u2019s important to allow dissent and arguments in brainstorming sessions or meetings\u2014that\u2019s their purpose. Once a decision is made, however, the focus should shift to execution without further debate.<\/p>\n

This method has been very effective in our boardroom. We discuss, brainstorm, disagree, and then agree. After leaving the meeting, the decision is final and must be executed. This unified approach ensures the entire team works towards a common goal.<\/p>\n

Q10. What are your thoughts on the future of laboratory-grown diamonds? How does CKC approach this trend?<\/strong><\/p>\n

Chaitanya<\/strong>: Initially, we were very sceptical, and it took us a year or two to figure things out. However, I felt confident it would work. So, when my father went on holiday, I set up the laboratory-grown diamonds section.<\/p>\n

When he returned, he saw a new counter, a new team\u2014everything in place. Laboratory-grown diamonds have proven to be a very affordable option, especially appealing to India\u2019s young population. I don\u2019t believe laboratory-grown diamonds will ever replace natural diamonds; the latter will always hold their significance and may become even more important over time.<\/p>\n

Dr Hayagriv: <\/strong>\u00a0I believe that 10-15% of the jewellery industry\u2019s consumers are diamond buyers, leaving 85-90% who don\u2019t buy diamonds. This presents an opportunity for the diamond industry. Laboratory-grown diamonds can be a great option and recent advancements suggest diamonds could be produced in as little as 15 minutes, potentially reducing costs further.<\/p>\n

The big question is how this affects the natural diamond industry. While some may worry about this, I believe natural diamonds will maintain their value and appeal. Laboratory-grown diamonds will add another dimension for consumers, allowing them to buy both types and coexist. The future holds many exciting developments, and we should keep an eye on them.<\/p>\n

Q11. How was the brand name for your Laboratory-grown diamonds decided?<\/strong>\u00a0<\/strong><\/p>\n

Chaitanya<\/strong>: We love rhinos, and a group of rhinos is called a crash. We wanted to create a club where anyone who buys jewellery from us becomes part of this \u201cCrash Club.\u201d<\/p>\n

The name also resonates with the next generation, who love crashing parties and events. So, the name Crash Club not only reflects our love for rhinos but also connects well with the lifestyle and spirit of our target audience.<\/p>\n

Q12. Dr. Hayagriv, what advice would you give to the next generation of leaders in family business?<\/strong><\/p>\n

Dr. Hayagriv<\/strong>: My advice is to take advice from the next generation. If we start imposing our own thoughts, we\u2019ll hinder their creativity. They have more groundbreaking ideas than we do, and their perspectives are dynamically different yet highly workable. It\u2019s our responsibility to integrate their ideas into our plans. Everything, even the unimaginable, is possible. Let\u2019s bring these ideas to life and give them the space they deserve.<\/p>\n

Q13. Could you share your experience at the GIA campus?<\/strong><\/p>\n

Dr. Hayagriv: <\/strong>\u00a0My father firmly believed that if I attended a course in Santa Monica for eight months, I\u2019d never return. Instead, he insisted I pursue a distance program. I completed my studies remotely and took the exam at GIA\u2019s campus in Hong Kong. In Hong Kong, I was the only non-Chinese student among highly professional classmates. Despite language barriers, they generously shared their business insights. Later, I also visited the GIA Carlsbad campus to attend a symposium that was enlightening. It brought top gemmologists together. My gemmological journey spans Santa Monica, Hong Kong, and Carlsbad, each offering valuable experiences.<\/p>\n

Chaitanya:<\/strong> GIA was one of the best times of my life. I made lifelong friends there. Living together in the same apartment complex created a close-knit community\u2014we shared cars and credit cards; GIA was like a family.<\/p>\n

Q<\/strong>14. What is your favourite gemstone and why?<\/strong><\/p>\n

Dr. Hayagriv<\/strong>: Coloured stones are the foundation at CKC, inspired by founder Cotha Krishniah Chetty, who sold coloured beads on a bicycle. Unlike diamonds, coloured stones are less popular in jewellery stores, giving us a competitive edge. We focus not just on the big three but on a variety of beautiful stones from around the world.<\/p>\n

In India, the importance of a coloured stone is often underestimated. Globally, knowing the exact mine and country of origin is crucial for buying and selling. One particularly exotic example is Panjshir emeralds. These emeralds come from the Panjshir Valley, located between Afghanistan and Pakistan. This narrow valley requires climbing several miles up the mountains to reach the mines. The mining season lasts only four months a year, adding to the emeralds\u2019 rarity and allure. This detailed knowledge is what GIA teaches and what we practice daily. I also find the conch pearl fascinating.<\/p>\n

Chaitanya:<\/strong> I love tanzanite for its appeal and stunning appearance. Each stone looks amazing, usually very clean with no inclusions. My fondness for tanzanite began when I was young and visited Africa, particularly Tanzania.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dr. Vinod Hayagriv, GIA GG\u00ae, C. Krishniah Chetty Group of Jewellers \u201cConsumers don\u2019t always know what they want. We need to anticipate their desires and introduce innovations they haven\u2019t imagined.\u201d \u201cKnowing the exact mine and country of origin is crucial for buying and selling. For example, Panjshir emeralds, mined in a remote valley between Afghanistan…<\/p>\n","protected":false},"author":1,"featured_media":27535,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[111,79],"tags":[],"thb-sponsors":[],"class_list":["post-27534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nextgen","category-viewpoint"],"acf":[],"yoast_head":"\nLegacy of Leadership: Dr. Vinod Hayagriv & Chaitanya V Cotha, CKC - Indian jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/legacy-of-leadership-dr-vinod-hayagriv-chaitanya-v-cotha-ckc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Legacy of Leadership: Dr. Vinod Hayagriv & Chaitanya V Cotha, CKC - Indian jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"Dr. Vinod Hayagriv, GIA GG\u00ae, C. Krishniah Chetty Group of Jewellers \u201cConsumers don\u2019t always know what they want. We need to anticipate their desires and introduce innovations they haven\u2019t imagined.\u201d \u201cKnowing the exact mine and country of origin is crucial for buying and selling. 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