Saurabh Gadgil, Chairman & Managing Director, PN Gadgil Jewellers Pvt Ltd, speaks to Retailer about what makes the brand keep going as per the market trends.
Jewellery retailing has come of age since customer-centric designs and retailing format have given this segment a new meaning. Speaking on the recent developments in this segment, Saurabh Gadgil, Chairman & Managing Director, PN Gadgil Jewellers Pvt Ltd, speaks to Retailer about what makes the brand keep going as per the market trends.
How would you define your retailing journey till date?
Can you fathom, in these violent times, a man selling solid gold ornaments on the footpath? This is precisely how the 183-year-old legacy, PN Gadgil Jewellers, was born in 1832. For a good nine months, Late Shri Ganesh Narayan Gadgil sold gold ornaments for women on the footpath in Sangli.
As business grew, he later managed to construct a shade to protect him from the heat and rain, and with further progress, this space turned into a shop. The Gadgil’s prospered and his grandson, Late Shri Narayan Gadgil, took over the business.
In 1958, Dajikaka decided to take PN Gadgil Jewellers to Pune. Taking forward the legacy of PN Gadgil Jewellers, I, being the grandson of Dajikaka, have been looking after the business since 1998 and so far have expanded in different parts of Pune, Mumbai and even in the USA & UAE, to capitalise on the lucrative opportunities in the field of retail. Also, coming up soon with stores in Viman Nagar (Pune), Indore, Akluj, Hubli and Baramati this year and five more outlets in UAE and one more outlet in LA (USA) and in Kalyan in the near future.
How has been the consumer demand for jewellery?
Customers are demanding in terms of creativity and the designs they want. Light weight and contemporary jewellery are much popular among the millennial generation. Satisfying their creative urge is the biggest challenge we face. For this purpose, we brainstorm with our in-house designers to come up with something unique.
What kind of innovation, new trends you have introduced lately in your product offerings and services?
PN Gadgil is now providing techno-savvy ‘try-on kiosk’ for easy access to selection of jewellery. This facility will soon be available on eCommerce website in coming months.
Some other innovations include: a) Online shopping b) Carat Meter c) Loyalty cards
How does it feel after winning the prestigious Indian Retail Congress award?
I feel honoured and humbled for having received this illustrious award. The response that we’ve received from our clients over the years is what encourages and motivates us to keep innovating and continuing our golden legacy.
What are your future plans in terms of expansion and expanding product portfolio?
Currently, we run 16 stores including those in USA & UAE. We are foraying into branded silver jewellery. For this, we have tied up with fashion designer Tarun Tahiliani to design the ornaments; we plan to grow this business under the Silvostyle brand. The firm has a five-year tie up with Tahiliani who will design wedding and party wear jewellery under Silvostyle.
By September 2015, we will add nine stores for gold and diamond jewellery including a second one in the US and one in Dubai. After the expansion in Maharashtra and new stores in Indore, Hubli and Goa, we will have 20 stores and a presence in four states.
The expansion will help PNG
grow the top line by 60 per cent by end of 2017.