The jewellery market in India is proliferating however; there are certain challenges for selling jewellery online. In India, buying jewellery is a tradition & always resonates with the most important things in life such as wedding, festivals etc. It is one accessory that everyone wants to touch, feel and try. Building trust in our consumers is equally essential. Moreover, we have at least seven to ten retailers within 10 km from where ever we live. Apart from this, jewellery piece with higher price is another challenge that online jewellery retailing is facing. At Jewelebration, we have taken care of every such challenge to give our customers a reason to celebrate jewellery!
1) Could you briefly tell us about the Founders?
Sunil Sony – Co Founder
Sunil is passionate about Internet and the shift of consumer behaviour towards e – commerce. He is a staunch believer that it is the way for any business to grow! The kerygma is to take care of every customer and deliver an experience of buying with Jewelebration.
An MBA in Finance, Sunil began his career as an Investment Banker. His experience is of more than ten years in debt syndication. A certified gemmologist from the Gemological Institute of America, he started Jewelebration in 2016 with a vision to bring his family’s century old preserved heritage to everyone’s doorstep.
Manish Verma – Co Founder
Manish has a gigantic experience of the retail and manufacture industry due to his family business. He holds a MBA in marketing from Symbiosis International University and also a professional Gemologist degree from International Gemological Institute.
Manish’s role is to procure the raw materials the most competitive prices to trickle down the benefits to the customers. His zeal lies in providing a hassle free experience to the customers and keeping an unquestionable quality of his products!
2) How did you come up with the idea? You can share your inspirations
‘My roots lie in the jewellery business’, said Sunil. Sunil also shared, ‘I came from Asansol a small town in West Bengal. Pursued an MBA in Kolkata, became an investment banker, however, my passion dragged me to our ancestral jewellery business. However, with changing times and convenience of customers, we have shifted gears from traditional buying to online shopping and I had to adhere and imbibe this in my business too!’ According to estimates, the trend of buying jewellery online will only increase. The current market is worth 13 million USD, by 2022, it will rise to 2 billion USD!
In the Indian e- commerce market, the online jewellery sales figures are infinitesimal. The percentage is microscopic; however, Sunil and Manish see a possibility of growth in this market. Manish be it Gold, Diamond or Platinum, Jewelebration design and deliver all sorts of jewellery with certificate of transparency that speaks of the quality of jewellery the customers are buying.
Jewelery is our family business and we thought to take it to another level after observing the trends of e – commerce in India. It was solely our passion to expand our family business that led to Jewelebration.
“Jewelebration” is a vision to bring our century old preserved heritage to everyone’s doorstep. Based in Kolkata, we want to showcase our pride and in-house “karigari” (creation) through our online Jewellery store, where we have fine collections of India’s Best Ethnic Jewellery specialising in Gold, Diamond and Platinum Jewellery. We started by designing jewellery that was modern and affordable. Jewellery that would fit today’s lifestyles and could be worn every day and not relegated to the lockers. We put up our jewellery, the specifications and the pricing transparently online – something that traditional jewellers never did.
We operate across all categories in the precious jewellery segment, but our focus is to make jewellery that fits today’s lifestyles and could be worn everyday. Pendants, necklaces, earrings and bracelets are among the top items purchased from our site.
We deliver across India, we work with multiple courier partners to make sure we can deliver anywhere and everywhere in the country. Our website features over 2,000 unique designs from a wide collection of themes for every occasion and ships to over 10,000 pin codes across the country.
The biggest single order we received was worth Rs 3.3 lakhs for ladies bracelet. We are offering multiple payment options including Wallets and EMI. We are amongst the few who are selling Platinum Jewellery online in India certified by platinum guild international. Initially decided to move away from an inventory heavy model followed by offline jewellers and work on a zero inventory asset light model – where all the products are designed and manufactured in-house
3) Who are your Targeted audience?
Our target audience is between the age group of 20 – 50. Jewellery, being a customized and expensive, we make available thousands of designs with mouse clicks without having to go anywhere!
4) What type of strategies do you think is valuable to take company to the next level?
What is the big picture of your company? What are your future plans?
During the first two years of operations, the primary focus is to strengthen the team, design, packaging, manufacturing, logistics and brand building. We want to leverage technology to streamline the shopping experience that will leading to scaling up our business.
We are planning to offer our loyalty programme, thereby giving existing buyers more choice and better deals. We have a host of new collections lined up for the year which you will see in the next few months. While enjoying the benefit of our unique feature – online, we also look at Jewelebration as platform which offers wide range jewelery products in India at modelled stores.
Brand Building Generating awareness, establishing and promoting company using strategies and tactics.
5) Tell us about your amazing team members?
We are having a Team of varied and unique 15 individuals which includes the CTO leading the technical functions, the jewellery & CAD Designers who prepare the designs for our customers and Marketing Team that looks after branding strategies.
6) What is your best motivation line that inspires you?
7) What were the key Learning’s from your journey that you would like to share with our audience?
There were times when going out shopping used to be a treat for everyone, however, with the constraints of time and the ease of convenience, consumers are shifting their transactions to the online mode. We want our consumers to experience effortless shopping where they can personalize, curate and even try the jewellery in the comfort of their own homes!.
8) Could you share details about source of funding, revenue, client acquisition model and statistics so far?
Bootstrap, as we are new but over the last two years we have served more than 1500 orders in India as well as outside of India having ASP of Rs. 15000.