JWA 2021 Jewellery Industry Best Practices

OVERCOMING ADVERSITY When COVID-19 struck in 2020, Pawar immediately came up with a plan to counter adversity with strategy. “We set up solutions to meet our needs, pivoted our business and ultimately kept things going all throughout the pandemic,” he says, adding that he puts the interests of the company’s 100–strong workforce at the centre of decision-making. The company retained its employees even as business slowed during the two-month lockdown. Salaries were paid in full and the staff were allowed to work from home as much as possible. The company also availed health insurance and launched regular medical check- up drives for its staff. “From a leadership perspective, one must remember that giving a sense of certainty and hope to your people is important to helping them navigate through the crisis,” he advises. In time, Pawar’s pro-active steps to keep his team engaged and motivated were amply rewarded. In the same way that the company took care of them, Arina employees soldiered on to exceed company goals. “We have achieved growth in terms of revenues, profit, market share, employment generation and customer satisfaction, among other areas,” says Pawar. As far as revenues go, Arina has consistently surpassed industry benchmarks since its inception. In 2018–2019, revenues were up 488 percent while it was pegged at 222 percent in 2019–2020, and 322 percent in 2020–2021. Despite the pandemic, the company sold more than US$15.8 million-worth of jewellery in FY 2020-2021. This, according to Pawar, is easily one of his top professional accomplishments. Arina enjoys high customer satisfaction, which results in referrals from existing customers. Such a feat is made possible, not only by providing excellent products, but by maintaining strong after-sales support to clients from around the globe. Pawar explains that his success as a leader boils down to knowing his purpose and understanding his people. “Knowing why your company exists, who your people are and how you do things help forge sustainable bonds that can support you, even during tough times,” he concludes. 1. Nilesh Pawar, Managing Partner at Arina Jewellery 2. Jewellery pieces are filed and polished by hand 3. Solitaire diamond 4. Stones are hand-set into a ring mounting 4 2 3