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Diatrends - Carving a Niche
An extraordinary dedication to excellence, superior product quality that matches step with the best in the world, extreme creativity, a work ethic that supports sustained growth - and above all, a unique business strategy.
By: Diamond World News Service
Oct 28 2011 2:06PM
Reference: 6423  

An extraordinary dedication to excellence, superior product quality that matches step with the best in the world, extreme creativity, a work ethic that supports sustained growth - and above all, a unique business strategy. These are the hallmarks of jewellery manufacturer Diatrends, finds Roli Gupta after an interaction with the three young entrepreneurs driving this unique company. The jewellery business is challenging. Thriving, and not just surviving here is tough. And what is toughest is to be able to do well in adverse circumstances. This requires not just the guts to take risks, but vision to innovate. Those jewellers who have managed to look beyond the challenges, capitalise on their strengths and push the envelope beyond the “jewellery manufacturer” tag, have redefined the way business is done, and have become success stories in their own right. Diatrends, lead by Kunal Mehta, Dhaval Mehta and Sunit Kothari, is one such manufacturer that’s bravely redefining the jewellery manufacturing paradigm, by marching to its own beat.

“We completely revamped our business model in 2009,” says Kunal Mehta. “Prior to that, we were just another jewellery manufacturing company providing products for all sorts of clients regardless of their size or brand positioning. Along came the recession in 2008 and the realisation hit us that the top class of jewellery companies having a global presence, somehow escaped almost unscathed. Their market position, sales, everything remained almost unaffected.” Very likely, that will be remembered as a watershed moment “It was at that time we took the risky and tough decision to exclusively provide our manufacturing expertise to high-end luxury brands from Europe, US and Australia,” continues Kunal. “It took a lot of hard work.

So, what gives Diatrends the extra edge, making it different from the numerous other jewellery manufacturing companies scattered across India? One reason is putting in the extra bit. But more importantly, it is the driving business strategy.

First to conduct exhaustive market research; then to apply that in creating products geared to these markets; and training the people in the factory to match up to the demands of this market segment in product quality and customer service to finally marketing to the companies in the segment. And underlying the entire exercise was the uncertainty and considerable risk in terms of going from a previously very wide client base to focusing on a small segment of select customers in the defined countries.”

For the 18-year-old diamond and gold jewellery manufacturer, with a relatively short history in the business, this was a bold move indeed. What is not short, however, is the history preceding the setting up of Diatrends – Kunal and Dhaval’s grandfather Bhogilal Mehta started his journey in the diamond business 75 years ago, and is regarded as one of the pioneers of the trade. In 1971, Bhogilal Mehta’s son Yatish Mehta and his nephew Sanjay Kothari – a leading figure in the industry and past Chairman of The Gem & Jewellery Export Promotion Council – continued the family business of cutting, polishing and trading diamonds and set up Kunal Diamonds. In 1994, Yatish Mehta’s sons, Kunal and Dhaval, along with Sunit, Sanjay Kothari’s son, diversified into the jewellery business and set up Diatrends, thus becoming the first generation of the two families to enter the jewellery m a n u f a c t u r i n g business.

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