1 Every extra kilogram of gold counts
Investing in inventory has to be done wisely. If a jeweller needs just 50 kilograms of gold, and he has over stocked by 20 kilograms, it will cost him heavily. Every jewellery retailer has to pay attention to how much of inventory he really needs. “Inventory management is mastered over time. But the intention to learn from past mistakes has to be there. Conversion rate remains constant, irrespective of the kilograms of gold jewellery one has in stock. Dead inventory has to be defined wisely. For every business owner this definition will be different,” says Himanshu Shekhar from Manohar Lal Sarraf & Sons Jewellers, Delhi. For some, unsold inventory for over a year will be considered dead for some others it could be 3-5 years of unsold inventory. Every business has overheads like EMI, rent, loss of interest on inventory; therefore one has to ascertain exactly how much inventory has to be stocked.
Some jewellers compare year on year value of gold, this is not profit. Appreciation of gold is not profit. Unless you sell that stock you are not going get profit. Unsold stock which needs to be returned or remade will bring in losses only. A jewellery retailer makes real profit only with a sale - Himanshu Shekhar, Manohar Lal Sarraf & Sons Jewellers
2 Don’t let debt do you apart
Diese Geschichte stammt aus der April - May 2021-Ausgabe von Indian Jeweller.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der April - May 2021-Ausgabe von Indian Jeweller.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
LEGENDARY PHILANTHROPIST SULTAN SINGH BACKLIWAL PASSES AWAY
Late Sultan Singh Backliwal was a revered figure, renowned scholar, businessman and philanthropist -- the extent of his benevolence continues to inspire many
BRETT LEE INAUGURATES MALABAR GOLD & DIAMONDS SHOWROOM IN SYDNEY
Malabar Gold & Diamonds, ranked as the sixth largest jewellery retailer globally, has opened its latest showroom in Sydney, Australia - with this, the company has marked a presence in 13 countries.
PLATINUM EVARA EMBRACES THE SPIRIT OF THE WOMEN'S PREMIER LEAGUE
The rise of women’s cricket in our country has been nothing short of inspirational and it offers the perfect platform for Platinum Evara, platinum jewellery aimed at the young woman segment.
GARGI BY PNGS EXPANDS ITS REACH WITH SECOND FRANCHISE OUTLET IN NASHIK
Gargi by P N Gadgil & Sons (PNGS), the prominent publicly listed fashion jewellery brand, has launched its second franchise outlet in Nashik.
KISNA DIAMOND AND GOLD JEWELLERY UNVEILS EXCLUSIVE SHOWROOM IN AGARTALA
KISNA Diamond and Gold Jewellery, a leading name in the exquisite jewellery industry, celebrated the grand opening of its first-ever exclusive franchise showroom in Agartala, Tripura recently.
KHIMJI JEWELLERS UNVEILS NEW WEDDING CAMPAIGN "NO COMPROMISE!"
Khimji Jewellers, Odisha’s favourite jewellery brand renowned for its rich legacy of 88 years in crafting exquisite jewellery, has announced the launch of its latest bridal jewellery campaign, “No Compromise!”
GOLD REFINING PRESENTS SIGNIFICANT OPPORTUNITY IN INDIA: IFSCA CHAIRMAN
K Rajaraman, Chairperson of the International Financial Services Centres Authority (IFSCA), has advocated for the establishment of gold refining facilities within India, citing its significant position as a major global purchaser of the precious metal.
UNION BUDGET 2024: GEM AND JEWELLERY INDUSTRY CONCERNS NOT ADDRESSED
In her final outing before the polls, Finance Minister Nirmala Sitharaman presented a budget which held no major surprises.
BROADLY SPEAKING WHY I KEEP LAB-GROWN DIAMONDS AS A SEPARATE CATEGORY IN MY STORE
Lab-grown diamonds, a much sought-after product in the US, are increasingly finding greater acceptance in India as well. Retailers are benefitting from stocking both natural and grown-diamond jewellery, as it enables them to cater to different categories of customers under one roof, and address ethical concerns, finds out Suneeta Kaul in a conversation with AVR Siddhanth of AVR Swarna Mahal
SENCO GOLD & DIAMONDS CRAFTS IMPACTFUL CAMPAIGNS
Senco Gold & Diamond skillfully crafts impactful campaigns that touch the hearts of customers living in different regions of the country, finds out Priyanka Talreja Garegrat in a conversation with Joita Sen, the Design Head of the company