Gold prices in India are getting constantly hit. After the implementation of GST, there has been a massive change in the buying habits of gold buyers. However, organized players continue to reap rewards as customers are now buying gold only from big retailers. Here is a list of top six Indian Jewelers, who are making a mark in the gold industry on domestic as well as international level:
- Rajesh Exports Ltd: With the turnover of Rs 30,000 crore, Rajesh Exports tops the pack. The chairman of the company, Mr Rajesh Mehta says that over the years, the USP of his company has been its efficiency to sell jewellery at the real rate per gram. The company has cut down manufacturing costs to less than 1 per cent, and hence it does not levy any making charges. Rajesh Exports MD is planning to set up 2,000 showrooms across India within the next four years.
- Malabar Gold and Diamonds: This Rs 12000-crore company is placed at 2nd number on the list. The chairman of Malabar Gold and Diamonds, Mr MP Ahamed tried his luck in the gold industry in 1993. Having started with Rs 50 lakh, he earned from his business to set up the first showroom of Malabar Gold and Diamonds at Calicut. The chairman has always relied on transparency, taking the number of outlets to 82. While 52 outlets are in India, 30 are operating in the Gulf countries. Mr Ahamed is focused on expanding the operations of his business to several other countries in the future.
- Bhima Jewelers: Having started its journey in 1925, the Rs 8000 crore business has a chain of more than 20 stores in South India. Dr B Govindan, the CMD of Bhima Jewelers, has always been focused on selling pure gold. According to him, Bhima Jewelers was the first company to implement hallmarking. The company is determined to continue in the same fashion, and keep on adding the number of stores across India.
- Tribhovandas Bhimji Zaveri: Mr Shrikant Gopaldas Zaveri, the CMD of the company, joined the family business early in the piece, just like Mr Rajesh Mehta. He took over as the CMD in 2000. The seeds of success were sown way back in 1864, when late Shri Bhimji Zaveri started the business from a tiny tin shack at Mumbai Zaveri Bazar. Mr Gopaldas Zaveri is now keen to expand the network of his stores in next few years. TBZ was the first to promote lightweight jewellery and offer certified solitaire diamonds.
- Senco Gold Jewelers: In 2007, Suvankar Sen, the present ED of Senco Gold Jewellers, joined his family business. By the time Mr Sen joined the business, his father, Mr Shankar Sen had already incorporated 30 stores across India. Within a short time of his joining, Mr Suvankar Sen added 16 new stores in Odisha, Assam, Jharkhand and Delhi. His focus has never deviated from art and creativity and keeps looking for opportunities to grow his business.
- Krishniah Chetty and Sons: The business was started by Cotha Krishniah Chetty by selling Armenian colored beads to the British in Bangalore cantonment. The company received a short in the arm when it was appointed as a distributer for Rolex watches of Switzerland. The current managing director, Mr C Vinod Hayagriv is pleased about how the company has operated since 1981, when it was the only company in India to be selected in the design contest of Antwerp. He is now looking forward to take the company to new heights.