By the blessings of his Grand Mother, Mr. Chetan Kumar Mehta (CMD) founded Laxmi Diamonds Bengaluru in the year 2007 with the objective of supplying South Indian Traditional Closed Setting Diamond Jewellery which carries more than 5000 Plus year legacy.
Inspired by the beauty of closed setting diamond jewellery since its handcrafted, a thought popped up in his mind to spread the beauty of this jewellery to the entire world. Thus started this wonderful journey of Laxmi Diamonds from Bengaluru.
Mr. Chetan Kumar Mehta through his sincere and hard work started to pursue his vision. To manufacture closed setting diamond jewellery, required skilled and master craftsmen. It was a very challenging initially to find such talented craftsmen with experience. But tireless efforts by Mr. Chetan Kumar Mehta have now created a wonderful team of experienced craftsmen.
The vision of Mr. Chetan Kumar Mehta has come true. Today Laxmi Diamonds Bengaluru is one of the largest manufacturers of closed setting Diamond jewellery and has business with top most jewellers world-wide. He has successfully launched “Retro Collection” & “Heritage Collection”, which are innovative and trendsetting brands of Laxmi diamonds. Instantly super hit, the creativity involved these brands are appreciated world-wide.
Here are some excerpts from his Interview given exclusively to gems2jewellery.com
Under which circumstances did you establish your own Diamond Company?
CKM: My grandmother, Smt. Laxmi Bai is the true mentor in my life. She has been a constant source of inspiration, teaching for me that “with hard work and dedication, anything is possible.” Her guidance has played a pivotal role in my success in the diamond industry today.
What struggle and challenges did you face in establishing Laxmi Diamonds?
CKM: Establishing a presence in the diamond industry presents challenges such as intense competition, intricate sourcing procedures, and the fluidity of market trends. Nevertheless, Laxmi Diamonds has risen to prominence by prioritizing quality, innovation, and ethical conduct, distinguishing itself as a leader in the field.
Laxmi Diamonds has a rich history. Can you tell us a bit about the company & journey and its core values?
CKM: At Laxmi Diamonds, our unwavering dedication to integrity, quality, and innovation sets us apart from competitors. Established in 2007 as a modest diamond trading enterprise, we’ve since expanded into a premier manufacturer and wholesaler of close-set diamond-studded Jewellery, recognized globally. Our steadfast commitment to excellence and ethical conduct has earned us a sterling reputation in the industry. Through substantial investments in technology and research, we continually pioneer new techniques for mass-producing diamond Jewellery of unparalleled quality and precision. Additionally, we actively advocate for ethical and sustainable practices across the diamond sector.
The diamond industry has seen significant changes in recent years. How has Laxmi Diamonds adapted to these evolving trends?
CKM: In recent years, Laxmi Diamonds has undergone several significant changes, with a particular focus on enhancing transparency and sustainability practices. Through the implementation of ethical sourcing methods, the adoption of new technologies for tracking and certifying our supply chain, and a renewed emphasis on sustainability, we have successfully adapted to these evolving trends.
Laxmi Diamonds caters to a discerning clientele. How do you ensure a consistently high standard of quality and customer service?
CKM: Throughout our business operations, Laxmi Diamonds maintains an unwavering commitment to delivering consistently high standards of quality and customer service. This commitment is reflected in our use of premium materials and skilled craftsmanship, as well as in our dedication to providing personalized attention and support to our clients. To ensure the best possible customer experience, we have established dedicated teams and personnel responsible for managing customer relationships.
With an increasingly competitive market, what strategies are in place to maintain Laxmi Diamonds’ position as a leader in the diamond trade?
CKM: To establish ourselves as leaders, we execute innovative marketing strategies, invest significantly in research and development, and prioritize unparalleled customer service with personalized attention. Cultivating strong relationships with our suppliers, partners, and clients is central to our approach. We also emphasize innovation and branding strategies while offering unique or specialized products and services that set us apart from competitors.
Are there any plans for Laxmi Diamonds to expand its reach, either within India or internationally?
CKM: The success of businesses hinges on its capacity to broaden its scope, whether domestically or globally, in order to augment their customer base and revenue streams. As part of our expansion strategy, we are currently exploring opportunities for growth in key markets such as Dubai, Singapore, and the United States.
Ethical sourcing is a growing concern for diamond buyers. How does Laxmi Diamonds ensure the responsible procurement of its diamonds?
CKM: The diamonds we source originate from reputable manufacturers that strictly adhere to international ethical standards, notably the Kimberley Process Certification Scheme, which effectively prevents conflict diamonds from entering the market. Moreover, we diligently ensure that our supply chains uphold fair labor practices and demonstrate environmental responsibility.
Looking ahead, what role do you see Laxmi Diamonds playing in shaping the future of the diamond trade?
CKM: Laxmi Diamonds holds the potential to shape the industry landscape through its business practices, innovation, and leadership. In an industry where transparency, sustainability, and ethical sourcing practices are gaining prominence, our aim is to lead the way in these transformations. By advocating for responsible practices, integrating new technologies, and delivering unparalleled customer service, we strive to drive forward the development of the diamond industry.
What advice would you give to aspiring entrepreneurs in the jewellery business?
CKM: In my view, aspiring entrepreneurs in the Jewellery industry should prioritize conducting thorough market research to uncover gaps in the market and gain insights into customer needs. Establishing a robust brand identity and crafting a targeted marketing strategy that effectively conveys your brand’s message and values are essential steps. Building solid relationships with suppliers, partners, and clients is pivotal for achieving long-term success. Remaining current with industry trends and advancements in technology is also vital, and be prepared to adjust and refine your business strategies as the market evolves.
Interview by Suresh Chotai
