Creating Legacy- KGK Group

No matter how strong a foundation has been for a business, it needs constant innovation and the ability to keep reinventing, which helps one gain a legacy for years to come. One such business house is KGK Group, which has been a part of the industry for eons and instead of thriving on the legacy, the leadership of the company is constantly working hard to make it an extraordinary one. {{Kavita Parab}} finds out what it takes to create such a legacy.
Sanjay Kothari, Vice-Chairman, KGK
Sanjay Kothari, Vice-Chairman, KGK

It takes a great entrepreneur to create a legacy that survives all odds. KGK Group, a global conglomerate with a presence across 19 countries, has always had great leadership – be it the doyen and founder Keshrimalji Kothari who was followed by his visionary son Ghisilalji Kothari as well as the current crop of leadership which has Navrattan Kothari and his sons Sanjay and Sandeep. Managing the business since 1962, Navrattan Kothari has enabled KGK to innovate and expand into numerous markets and achieve global growth and recognition.

Let us have a look at how this global conglomerate has been created over the years.

Business Interests
KGK has emerged as one of the few conglomerates covering the entire spectrum of mining, sourcing, manufacturing and distributing coloured stones, diamonds and jewellery for over a century. The bond with the patrons is strengthened with every passing year and stronger presence has been established in almost every commercial centre of the world.

With its operations and offices active in Asia, Australia, North and South America, Europe and Africa, KGK has achieved the vertically integrated standing of mines-to-brands in the realm of gems & jewellery. Currently, the KGK Group has robust manufacturing units in over seven countries with marketing offices across the globe. Having achieved impeccable specialisation in gemstones, diamonds and jewellery for over a hundred years, the group has recently diversified into real estate as well.

Secrets to Success
Principled and passionate approach is KGK’s core strength. Inspired by Keshrimal Kothari’s vision, Ghisilal Kothari helped establish the tradition of innovation and diversity and led the group’s initial growth and expansion.

The company prospered exponentially and grew into a leading multinational corporation under the third generation leadership. KGK continues to conduct its business according to the highest principles of faith, respect and integrity that guided its founders.

Talking about the company’s secrets to success, Sanjay Kothari, Vice Chairman, KGK says, “Our family enterprise is built on ideals that have enabled us to flourish across borders and cultures. We believe that truth is multifaceted, and we respect life and diversity. We embrace the viewpoints of others and strive for transparency and balance our relationships that have always helped us attain the status of a global conglomerate.”

Building the Brand
Brand building is crucial to a company’s marketing, especially in the gems and jewellery industry there is a lot of scope for brand building, which may ultimately result in boosting the business. Elaborating on the importance of the brand building, Sanjay says, “Considering the progressive jewellery industry and its well-informed and well-travelled customer, investing in brand building exercises becomes imperative. We, at KGK, are focusing on making our jewellery brands as identifiable names in the industry that the customers reckon fine jewellery with.”

He further adds, “Our signature product lines not only helps us in brand building but also help us be different from our competitors. The investment in exquisite signature lines has paid off so well that our patrons can identify our pieces irrespective of just the brand name. Our collection of brands includes Martin Flyer, Gregg Ruth, Kiros and our very own flagship brand Entice.”

Ways to Overcome Challenges
While talking about the challenges and the ways they have been tackled, Sanjay mentioned five key factors:

Consumer Preference – Innovative creations at KGK have always met the ever changing market trends in the interest of gratifying its consumers.

Collaboration - Strategic business partnership with leading retailers globally in supplying branded and customized cut diamonds. In addition, building synergy with other jewellery brands in India and partnering with our peers, aligning different product segments.

Broader Market Base - Deep penetration in fragmented jewellery market in India has helped in serving more than 250 retailers in 21 states across 150 cities. Integration – Rough sourcing to manufacturing to polished distribution to jewellery manufacturing to jewellery distribution to retail; the integrated supply pipeline confirms natural and ethical diamonds of utmost quality. Professional Management Systems – A family-owned business has gradually transformed to a professionally managed system giving a tough fight to its contenders. ((Looking Ahead KGK since its inception has been consistent in its attentive expansion benefitting the industry as a whole. As a result of which it has achieved vertically integrated standing of mines-to-brands in the gems and jewellery industry. Talking about the expansion, Sanjay says, “In view of our strengths, we plan to follow the same path in order to widen our global footprint with a core objective being not only to increase our business but also to serve our commitment to give back to the people and communities that make our endeavours possible.”

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