JNA Awards 2020 - Jewellery Industry Best Practices

JNA AWARDS • 2020 99 to constantly develop and release relevant designs in a world of rapidly changing trends. “The brand must stand out in a sea of online competitors with products that attract attention. I personally keep track of our designs and lineup to ensure that our releases always meet the desires of our fashion-forward clients,” he says. Dangayach also cites that disruptive and modern-day campaigns, such as that of Off-white, serve as his inspiration for Cirari’s marketing plan. The COVID-19 pandemic, which has led to massive downturns in business, also keeps Dangayach on his toes. In this regard, the entrepreneur advises his peers in the jewellery trade to retain their composure and carefully outline a sustainable course of action in dealing with the situation. “Work on long-term investments if you’re seeing a short-term slowdown. Re-evaluate your operations, platforms and processes to do some long-term strategic planning. Prepare for pent-up demand, especially since a post-pandemic economic recovery might come sooner than expected. If you cut back too much today, you might not be properly positioned for recovery once the crisis begins to wane,” he warns. Best practices Regardless of the scenario, Dangayach makes sure his company adheres to best corporate practices. For one, he provides all 600 employees with free medical and life insurances and entitle them to paid holidays and an array of other benefits. Similarly, Color Jewels practises responsible sourcing of raw materials. It only acquires precious gemstones from Gemfields, TanzaniteOne and De Beers sightholders to ensure that they are ethically sourced. This also helps the company carry out its promise of authenticity to its customers, which is further reinforced by laboratory-issued certificates and in-house guarantees that support various purchases. As a result of these efforts, Dangayach increased year-on-year sales by 60 percent in 2019. In terms of branding, Cirari has also been repeatedly recognised as a growing brand by industry publications. With his wealth of accomplishments, one is left to wonder what keeps Dangayach going. The answer boils down to three things: Perspective, persistence and a little bit of luck. “People tend to give up quickly when they look at how far they still have to go, instead of how far they have come. It is a series of small wins that can bring us the most significant success. And then there’s luck, which occurs when hard work, timing and talent all align at the same time,” he reminds. 1, 3. Tarun Dangayach, Director of Color Jewels Inc 2. Color Jewels’ booth at Vicenzaoro 4, 5. Coloured gemstone jewellery by Color Jewels 2 3 5 4