It’s a success story with a difference, one scripted by an ‘outsider’ in an industry where traditional, closely controlled family businesses usually hold sway. Diamond World profiles one of India’s leading jewellery manufacturer-exporters and the amazing story of its rise to its present stature.

If he had scored just one percentage mark more in his medical entrance exam, Colin Shah would have followed in his family traditions, entered medical college and might today have been an eminently successful doctor. But he did not, and medicine’s loss was the jewellery industry’s gain.

The wannabe doctor whose dreams had been dashed tried his hands in various fields, but not one of them excited his imagination. Then one day, a chance meeting with Navin Jashnani of Sama Jewellery led him to enroll for a course at GII, more out of curiosity than real interest. There the sparkle of the diamonds kindled a flame in him, and a budding diamond jewellery entrepreneur was born.

There’s been no looking back since then, as Kama Jewellery, the company that Colin eventually went on to set up has gone from strength to strength, till it was eventually recognised as one of the country’s leading and most innovative jewellery exporters. Awards and accolades came its way, but the crowning glory was the Joint Venture it forged with leading Israel based sightholder Leo Schachter in 2007, which saw the birth of a new entity – Kama Schachter – that has taken enormous strides since then to become acknowledged as one of Asia’s leading manufacturers of diamond studded jewellery with a specialisation in bridal wear and engagement rings.

Not satisfied with mere trading, Colin began dabbling in jewellery too, mainly catering to family and friends and partly to the Gulf market. The demands for his products soon grew, and with it came the need for a larger, more specialised set up. With know-how from Tristar, Colin decided to set up his own casting factory, and launched Kama Jewellery in 1996, together with Mamta Apparao.

It was not easy for an outsider, particularly one with no access to access to large amounts of capital and contacts, but as Colin strove to establish his credentials and capabilities he also discovered that “this industry has a lot of good people who were willing to give a newcomer like me an opportunity".

Major Strides
The stage was now set for Kama to take a major leap, and this happened in the form of the Joint Venture with Leo Schachter Diamonds of Israel, one of the largest DTC Sightholders, a member of the DTC’s Forevermark programme and a well established supplier of diamonds and diamond jewellery to leading jewellers in the US, London, Paris and Italy.

The 2007 tie-up saw Kama boost its equity, enabling it to expand the existing manufacturing facility by adding a larger and more state-of-the-art manufacturing facility in SEEPZ. The partnership also greatly enhanced its global network and reach, enabling further market penetration through wider distribution channels at the global level.

Additionally, it gained primary and first choice access to the diamonds manufactured at Leo Schacter’s different factories across the world including Tel Aviv, which does diamonds from 20 pointers to 5 carats, New York which manufactures rounds and fancy cuts from 1 ct up, Bangkok for under 30 point goods, China which specialises in small rounds and Botswana which does ideal cuts. With the new JV, the company also had access to in-depth market knowledge which made sourcing of different diamond sizes and qualities much easier, besides ensuring that the diamond prices were extremely competitive.

The combined skills of the teams of the two partners, the wealth of rich management experience and the use of latest technology ensured that the company quickly developed into one of the largest manufacturers and exporters of high end diamond jewellery across Asia. It was a win-win situation all around.

In a country where diamond manufacturers were opening jewellery factories, Kama moved in the opposite direction, opening a diamond sourcing office at Opera House in 2008.

Over the last 15 years, Kama has built a reputation for innovation and quality, combining the talents of a team of trained designers and expert artisans. It has a global presence with its products being retailed through premier chain stores and regional chains in major markets, namely, USA, Europe, India, Russia, Japan and Australia.

However, with the number of jewellery manufacturers competing for the shelf space in this segment constantly on the rise, in 2009, the company took a strategic decision to focus on private labels (in-house designs) and completely change its positioning. It was the first step in a strategy that will eventually lead them to enter the retail market.

Current Operations
Kama Schachter today has three large factories and a diamond sourcing office, employing close to 1000 employees in offices worldwide. It has model making facilities in Hong Kong and India with a capacity to produce 200 exciting styles every month, while the three highly mechanised, state-of-the-art factories, equipped with the latest technology produce about 100,000 pieces every month which can be significantly scaled up within the existing infrastructure. These fully integrated plants also have a comprehensive ERP system to manage manufacturing and distribution.

While Kama Schachter is best known for its bridal sets and engagement rings, it also has a wide assortment of basic SKUs, which encompass certified solitaires, studs, engagement rings, and wedding rings. The basic product lines ensure that the company is not affected by the otherwise seasonal nature of the jewellery business, and ensures a high proportion of replenishment business.

The company also manufactures ‘private label’ brands like ‘Facets of Fire’ with Walmart and The Leo Diamond which is managed by partners Leo Schachter.

An experienced in house team of designers not only develops designs based on regional and cultural tastes as well as price points, but working in conjunction with the strong model making execution ability, enables the company to develop exclusive product lines for select customers and have a higher than industry turnaround.

Kama’s abilities are also confirmed by the number of industry awards it has earned for itself in recent times. Three awards from The Gem & Jewellery Export Council has recognised it as the Largest Exporter of Studded Jewellery, an award as the Emerging SME in Jewellery Category presented by the Prime Minister himself and the Udyog Ratna Award from the Indian School of Economics are a few of the many laurels that have come its way. But over and above all this its success in the market places it clearly as one of India’s leading jewellery manufacturers.