New York's Manhattan seems to be the haute destination for jewellery designers. Jaipur-based Amrapali Jewels plans to open a showroom there next year and now Mumbai-based Maharani Group wants to have a dedicated store to showcase its designs.
"If all goes well, we hope to have one there (in Mahnattan) by early 2005," says Shibani Aggarwal, executive director, Maharani Group.
Aggarwal, in Delhi to promote her jewellery exhibition at the Park Royal Hotel on September 3 and 4, is confident that her group's low-key marketing strategy has paid dividends.
"No media splashes for us," she says. "We prefer to operate without drawing undue attention." This shunning of media glare also adds to the aura of exclusivity that the jewellers have cultivated over the last 30 years.
The exhibition will comprise the latest collection with Fleur de Indie (flowers of India) as a theme. Adds Aggarwal, "Since colour is the trend in fashion, Maharani has used a profusion of bright coloured stones -- rubies and emeralds, blur topaz, lime green peridot, golden citrines, pink tourmalines, blue sapphires -- along with diamonds." Entry to the exhibition is by invitation only.
"We want a clientele that is select, stylish and upper crust. We make no bones that we do not serve the aam janta," explains Aggarwal.
Prices start at roughly Rs 25,000 (with an upper limit of a couple of crores).
The designer's client list reads like a who's who directory -- the emirs of Kuwait and Sharjah, the Clintons, Madeline Albright, Bollywood stars and industrialists.
The focus of Maharani's business has been to become a global brand. Moreover, according to Aggarwal, American and European markets are more open to newer ideas and contemporary designs.
That has been a major factor for not expanding in India. The company's sole store remains at Mumbai's Oberoi.
"Private showings and word of mouth publicity are the only ways we prefer," says Aggarwal. On an average Maharani holds seven exhibitions across the globe.
Like most privately held companies, Aggarwal is loathe to discuss figures. Questions about annual turnover, investments, returns from exhibitions are all answered with "I really can't disclose this."
But she is generous enough to say that her company is growing at about 40 per cent annually. Sixty per cent of Maharani's income is generated from exports and the rest from sales within the country.
With the Indian jewellery market (organised and unorganised) pegged at around Rs 40,000 crore (Rs 400 billion), does it make business sense to look westwards?
"Internationally Indian jewellery is catching on. Just check what the stars flaunt on Oscar nights. We want to get a head start and become an international brand -- a brand that would be recognised for innovativeness, quality and craftsmanship," she says.
