Tell us about the brand Krshn Deeksha. How did the brand start and journey so far?
A passion for jewellery and desire for the unorthodox is what inspired me to launch ‘Krshn Deeksha’ in 2004. Bhavna developed a love for jewellery at a young age, and grew up to pursue the same with degrees in diamanteering and is also a certified Gemstone Grader from the Singem Institute of Gemology, Kolkata.
Being the founder & owner of the brand I began my journey from a meager sum of Rs 10,000, 20 grams of gold and diamonds on credit and set out to build a brand,’Krshn Deeksha Jewels’. Initially they only manufactured light earrings for young girls and a few customized jewelry. The journey so far has been a good learning and growing experience for us and we intend to give it our best and grow further.
According to you, what are the major challenges as far as precious jewellery retailing is concerned?
Over the last few years, the use of diamond jewellery as an investment tool has seen a rapid increase, especially in the Corporate world. Large Corporates are opening jewellery stores and going online. Their staff have no knowledge of products being sold and the goods are being bought from fixed vendors. They possess a challenge to the small and couture jewellers as well, as these corporate spend a huge amount of money on media and advertising. This is a main challenge that small & medium jewellers are facing.
Kindly highlight your brand USP?
The brand’s USP lies in a classic combination of shapes and symbols of Indian and International cultures, moods and fashion; experimenting with materials like 18 carat gold, 18 carat white gold as well as 18 carat rose gold and precious gems like Emeralds, rubies, blue sapphires and South sea pearls, creating beautiful works of wearable art. Krshn Deeksha offers high quality, well designed, hand finished fine jewellery at affordable prices.
Kindly highlight your current distribution in the online as well as offline space. Going forward, what would the strategies to scale up the distribution? Have you explored the franchise model yet or plan to?
We intend to go online in the near future and offering our franchise is definitely in the pipeline, especially in cities like Hyderabad, Chandigarh and Bangalore.
Also shed light on your marketing strategies to increase the brand identity?
We have tied up with P.R. companies to create awareness of our brand. We buy and exchange our jewellery and also accept old gold.
Who do you see as your competition within the same space?
We do not really consider anyone our competitors. We are happy competing with ourselves, constantly striving to move forward and only evaluate ourselves based on meaningful things. As they say, ‘get better at getting better’- we aspire to evolve with time as our jewelry is different from other brands in terms of design, finesse and ingenuity.
At last, kindly highlight your growth plans?
Our growth plans incorporate new stores of Krshn Deeksha Jewels, across the country. Moreover, we feel that franchising may be one of the best ways to expand at a fast pace. And if we tackle it the right way, we can certainly pump up our profitability.