Being the fourth generation in the jewellery business in Goa, it was time to step up and change with the times. Vikram Verlekar speaks to the Herald of his time at the helm of Ulhas Jewellers which is now a modern, class-leading jewellery house in Goa which has been noticed even on the national stage.
HERALD: How has Ulhas Jewellers evolved from the time it started?
VIKRAM VERLEKAR: My great grandfather, a goldsmith, started the business in 1927. And business was being conducted in the traditional way until I came into the picture about 15 years ago. I had gone to Mumbai to do a diamond grading course at Universal Diamond Grading in Zaveri Bazar after which I worked with two leading jewelers for more than a year. This experience changed my outlook towards the business and made me realize that there was much to be desired in the way we operated in Goa. From then on I have been working towards a corporate style of functioning and the results are there to be seen.
HERALD: What initiatives did you take to make Ulhas Jewellers more professional?
VV: Ulhas today is the result of small focused steps to become the jewellery entity that stands for the best value proposition keeping in mind quality, variety and customer service orientation. We are the first jewellery house in Goa to be certified as an ISO 9001:2008 company as well get a 916 Hallmarked gold jewellery certification by the Government of India’s Bureau of Indian Standards (BIS).
We also sell authenticated IGI certified diamond jewellery and other items including white gold, 18 karat gold jewellery, designer jewellery and have been licensed as Authorised Platinum Retailer by the Platinum Guild International.
Above all, you have to change with the times, offer new services and keep with the latest trends. Earlier only 1 per cent of our clientele used cards to make payments, but we still adopted the system to accommodate them. Today over 10 per cent of our clientele pay through card and it is making a difference.
HERALD: There have been a lot of new entrants specially in terms of national branded players offering exquisite machine made jewellery. How are traditional jewelers holding up?
VV: Yes, there is tough competition. It is survival of the fittest and customer is the king. Machine made jewellery has a better finish, produced at a lower cost and in lesser time; but handmade jewellery is longer lasting. National players have the machines, technology and the reach. But what allows smaller players like us to compete is knowledge of the local market and we unlike national players are focused on Goa.
HERALD: What are your plans for the future?
VV: Well, we already have tow outlets in Margao and one in Panjim. But soon we will open another outlet in Margao. It will be the biggest in Goa — a game changer for how gold is sold in Goa. It should be open by 2015 and that is all I can say for now.
