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Kapu Gems: Limited diamond manufacturing increases demand

02 november 2020

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Image credit: Kapu Gems



kalpesh_vaghani_xx.pngAfter completing the commerce degree B. Com, Kalpesh D. Vaghani ventured into the family business. His understanding of the market, diamond intricacies and the global standards technology utilization helped him create a niche for himself.

An entrepreneur with 20 years in business leadership, Kalpesh Vaghani is well-versed in all aspects of business formation, operation, finance, and management. An effective communicator and motivator, he is a sales leader with a natural ability for building new businesses, forging loyalty with clients, vendors and overseas business partners.

Can you run us through Kapu Gems history, growth graph, partners, manufacturing units etc for the benefit of our readers?

Established on a solid foundation of sound principles and high values by Diyalbhai Patel, today Kapu Gems proudly forges ahead with the same determination and principles, without compromising its ideology of ethical business and an unfaltering dedication to perfection. The partners of Kapu Gems have a vibrant constructive thought process with manufacturing experience of more than 40 years in the industry.

Kapu Gems is one of the largest manufacturers of diamonds weighing 30 points to 15 carats and above, in the round and fancy shapes, and in virtually all clarity grades (Flawless to SI2) and colours (D to K). Kapu Gems has a welltrained and experienced staff strength of around 1000+ at their 3600 sqm state-of-the-art factory in Surat, Gujarat and sales offices in Mumbai, Hong Kong, Dubai and Belgium.

All the stones we sell are manufactured within our factory, resulting in optimum quality consistently. We can guarantee a regular supply of polished diamonds to our customers. With extensive use of IT in all spheres of business, Kapu Gems have achieved complete information technology governance, thereby bringing in complete transparency, standardization and integration. Each of our business aspects right from sorting, manufacturing, pricing to sales is unique and a true reflection of core values and principles.

At Kapu Gems, we have always been supporting and promoting online and technologically driven business platforms. We have taken the initiative of keeping the website as one of the important sources for generating sales. We are having highly advanced and user-friendly Website and Mobile Application (Android and iOS). The website www.kapugems.com is easy to use and highly interactive. All the information related to stock, services and various other offers is updated in real-time on the website. This has helped in generating substantial revenue and has provided significant growth in profits. Our on the go mobile application with real-time inventory also added the significant business.

We are serving more than 3500 registered clients, consisting of top retailers, jewellery manufacturers and dealers with pan India and global presence. Over 2000 customers are using our website & Mobile App service regularly. We continue to serve our clients with advanced E-Commerce platforms, focusing on the following value-added services to enhance and encourage the online buying experience:

Off-Line mode in Mobile App: Now Connectivity will never be an issue. Customers can View & Buy selected inventory, even if offline.

Recommended: Highly advanced system-generated AI report, that proposes fresh goods to the user, as per his purchase history and demand raised.

Diamond Layout: This will help the jewellery manufacturers and retailers globally, to place their requirement as per their jewellery designs and view our inventory accordingly.

Kapu E-Bid: Special section on the website and mobile application is created for online bidding on fresh goods.

Kapu Select 24: Select 24 is also a unique initiative taken for the users to bid on “Selective 24 Stones” This feature is active during trade events and shows.

Pick-Bid-Buy: Users can choose stones and request to add them to the Bidding process. User can track live bidding status.

Kapu Loyalty System is the most unique initiative, where all the clients get different benefits as per their loyalty levels and past buying.

Kapu Gems API – Auto-sync facility to leading Retailers where they can access to our real-time inventory.

Live status on – Pending shipment, Shipment tracking and Outstanding payment. 

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Image credit: Kapu Gems

We strive to offer the best diamonds along with innovative long-term beneficial services, and we are committed to providing the utmost quality with appropriate technology and excellent workmanship.

Kapu Gems has been awarded the Gem & Jewellery Export Promotion Council award for 2018 in the category “Best Digital Initiative”. Recently, Kapu Gems has been received the "eSupplier of the Year" Award of the JNA Awards 2019.

From where do you source rough diamonds for Kapu Gems unit/s? Currently, which miners are the main rough diamond suppliers for the company?

Kapu Gems is having sourcing arrangements for rough diamonds from the best of source countries including Russia, Canada, Africa (Botswana, Namibia). Kapu Gems enjoys direct supplies from major miners, including ALROSA, Dominion Diamonds, Rio Tinto Diamonds, NamDia, LUCARA Diamond, Gem Diamonds and is the largest manufacturer and supplier of Canadian origin solitaires. We can guarantee a regular supply of polished diamonds to our customers.

As exporters, which overseas markets do you cater to? What are the demand patterns from different countries, and what quality goods are mainly in demand?

We have a well-defined global sales model, targeting to the customer base across the world. We have well diverse sales across the globe i.e. in the emerging markets as well as the advanced economies – making us strong and resistant in the wake of challenging times. We have sales spanning more than 35 countries. We are serving more than 3500 registered clients, consisting of top retailers, jewellery manufacturers and dealers with pan India and global presence. Over 2000 customers are using our E-Commerce service regularly.

Kapu Gems have always been supporting and promoting online and technologically driven business platforms. Our Website and Mobile Application (Android and iOS) has been designed and developed to give the best user-friendly interface and advanced features, so customers can access our real-time diamond-inventory, from anywhere – anytime.

We have a well designated Business Development team which makes visits to various countries. This initiative keeps us close to our customers, enhances our relationship and keeps us abreast with the tastes and preferences of that region. We have a Marketing office in India, Hong Kong, Dubai and Antwerp. Our Target Market is Belgium, China, Dubai, Hong Kong, India, USA and Rest of the World. We have the global reach through our active presence on the internet. Web portals & events are our primary channels for client reach.

The demand is mainly for Cut & polished diamonds ranging from 0.30cts to +15cts, FL to SI Clarity, D to M Color with EX-EX-EX quality in Round and fancy shapes.

Kapu Gems is focusing upon “Customized Retailer Specific Designer Diamond Layouts” collections. This will help the jewellery manufacturers and retailers globally, to place their requirement as per their jewellery designs and view our inventory accordingly. 

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Image credit: Kapu Gems

We have some Country Specific Programs:

• Trilogy / Tri Diamond Set concept and Canadian Origin Goods: USA & Canada Markets.

• Ideal Hearts and Arrow Diamonds: Taiwan & Far East Markets.

• Promotion of VVS & VS goods for Middle East / UAE markets.

• Frequent promotional campaigns – Explaining features of website and application.

Can you tell us more about Kapu Gem’s product range, production and any plans in the production line? Did Kapu cut down production during lock-down? How did you plan the company’s rough requirements?

We are one of the few Indian companies, manufacturing Excellent quality diamonds, coupled with most covered value-added services. Kapu Gems is among the top 5 players dealing in high-quality solitaire ranging from 0.20 ct to 20 ct & above. We manufacture cut & polished diamonds ranging from 0.20cts to +15cts, FL to SI Clarity, D to M Color with EX-EX-EX quality in Round, Princess, Pear, Hearts, Oval, Marquise, Emerald, Sq. Emerald, Radiant, Sq. Radiant, Triangle and Cushion and lot more shapes.

During the lockdown, the primary focus was on employee health, safety and wellbeing. We took a cut down in our production by 60%. Meanwhile, the rough import was also in a restricted manner, so we manage the production process with the available rough stones and resources.

Do you cater to the Indian domestic sector too? If yes, what is Kapu’s volume of business in the domestic market right now?

Yes, we do cater to the Indian domestic sector. Around 15% of our sales volume is from the domestic market.

Due to the pandemic, mining companies have been making many changes in their supply and price of rough to Indian importers. Importers have been cautioned to buy judiciously. What effect will over-stocking of rough diamonds have on the price? What changes do you foresee this year?

Big miners are stocking up rough goods, so this limited supply of rough diamond is a positive sign for the Indian diamond industry. As production is limited, so less polished goods are available, hence demand will increase, which will be good for the diamond manufacturers and the Indian diamond industry as well.

Due to the Covid-19 pandemic, there is a huge effect on the demand for luxury goods. It is a tough time; however, the other side holds positivity in itself. As the business world slowly awakens from the Covid-19 pandemic, steadily the market will improve. The industry - be it miners, manufacturers, retailers or wholesalers - will have to gear up for a world where the old norms will have to be reframed. Within 5 years, the Diamond industry will be in a better position. People will move towards buying high-end jewellery instead of gadgets. Diamond is categorized as an asset class and we will see its value in this class in years to come. 

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Image credit: Kapu Gems

The new normal being Virtual, Trade Shows are being cancelled globally due to COVID-19. How will this affect the G&J industry on the whole and Indian G&J in particular? Has did this in any way hit Kapu Gems business negatively?

Kapu Gems has taken the initiative of keeping the website as one of the important sources for generating sales. We are having highly advanced user-friendly Website and Mobile Application. We continue to serve our clients with advanced E-Commerce platforms, focusing on various value-added service to enhance and encourage the online buying experience.

We are globally renowned for selling a substantial number of diamonds through the website and excellent standards of manufacturing with detailed grading.

In this COVID-19 time, with all the restrictions on physical meetings and travelling, our online business model not only helped us to maintain the regular sale but helped us to grow further. By our website and mobile app, we were able to reach the unexplored region and have done business with new clients.

We always strive to offer the best diamonds along with innovative long term beneficial services and are committed to providing the utmost quality with appropriate technology and excellent workmanship.

Many leading Indian companies are entering the Lab Grown Diamonds sector. How will this impact the Natural diamond industry? Do Kapu Gems have any plans to enter LGD manufacturing going forward?

Lab-grown diamond is a completely different market and it won't have any effect on the Natural diamond industry as such. Natural is natural and Natural is forever...

Kapu Gems deals in Natural Diamonds only and we do not have any plan for manufacturing lab-grown diamonds. Kapu Gems as a brand signifies premium quality, absolute transparency, accurate pricing and diamonds manufactured according to the highest ethical standards, sourced from a broad range of legitimate primary suppliers. All the stones we sell are manufactured within our factory, resulting in optimum quality consistently. With access to all the leading mines, we can guarantee a regular supply of natural polished diamonds to our customers. 

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Image credit: Kapu Gems 

Post COVID-19 may see workers rendered jobless, maybe production reduced. And with bank financing being cut drastically, how is Kapu Gems faring in these difficult times? Where do you think the Indian industry is heading to in general? Your views?

Our business is blessed with years of trust that is passed down through generation to the young torchbearers. This belief has helped to establish our name in the sense of sustainability.

Developing human value is our motto; We are keen to maintain health & safety standards. Kapu Gems has always put the care and well-being of its staff as the topmost priority. Our workers are assets for us and their loyalty is a reward for us. In this pandemic time, with a limited number of employees working and less production, we have paid salaries to our artisan and employees every month.

With extensive use of I.T. in all spheres of Business, we have achieved complete Information Technology governance. Each of our business aspects right from sorting, manufacturing, pricing to sales is unique and a true reflection of our core values and principles.

We have developed and implemented marketing programmes to ensure extensive and effective market penetration. From in-depth analysis of customer’s buying pattern to well-integrated technology, we can understand current market demand and divert our manufacturing flow to adapt stringent market conditions.

Kapu Gems is a well-funded group and having healthy financial ratios. We are working with our capital funds and not depend on any bank finances.

All our transactions are carried out lawfully with complete attention paid to legal integrity and procedures. We have documentation of every single transaction, conducted by following all the legal rules and regulations. We have maintained the highest level of honesty and transparency with our clients by following the path of legitimate business practice and rules created and approved by the Government of India. Kapu Gems is compliant with the requirements of Responsible Jewellery Council’s standards.

Indian Artisans are very efficient, we get excellent quality work in fewer labour charges. India is heading towards being the primary market and not too far from being a global hub for the diamond industry.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished