Welcome to our exclusive interview with Mr. Aditya Modak, the co-founder of Gargi by P N Gadgil & Sons, the exciting new segment of PNGS Jewellers that caters to young women. Gargi by PNGS represents a vibrant fusion of contemporary style and traditional craftsmanship, offering a diverse range of exquisite jewellery pieces that capture the essence of modern femininity. As we delve into this conversation, we will gain insights into the inspiration behind Gargi by PNGS, the vision driving its creation, and the unique ways it seeks to resonate with the aspirations and individuality of today’s young women.
Join us as we uncover the story behind Gargi by PNGS and explore the fascinating world of jewellery designed to celebrate the spirit of the empowered and fashion-forward Gen Z and the millennial generation.
The introduction of the Co-Founder by himself.
My name is Aditya, and I have been employed at P N Gadgil and Sons for a decade. Currently, I hold the position of CFO at PNGS and am also the co-founder of Gargi by PNGS. We decided to launch a new brand to meet the needs of the younger generation, and that’s how the idea for Gargi was born. Gargi specializes in fashion jewelry that caters to the everyday demands of Gen Z and Millennial customers.
What is the inspiration for Gargi?
At our company, we understand that the younger generation desires jewelry for every occasion, whether it be morning, afternoon, or evening. However, with the high prices of gold and diamonds, they may need assistance finding affordable yet high-quality options. We recognized that PNGS is renowned for its exceptional jewelry in real gold and diamonds and decided to create a similar line in fashion jewelry. Maintaining PNGS’s reputation for quality is crucial while making it accessible and affordable for Gen Z or anyone who is budget conscious.
Why particularly Gargi? What does that mean?
If you see the meaning of the name Gargi, it is about a woman who has accomplished something. We want to be part of that woman who wants to achieve something personally or professionally. So that’s how the name was decided.
As PNGS is a very reputed brand in the industry, how did this brand gain recognition when there was less medium-score marketing or advertising?
Our focus is on delivering the best possible product to our customers. We understand that customer retention can be more challenging than acquisition, so we prioritize the quality of our products and services. PNGS has built a loyal customer base over the years, with multiple generations of families coming to us for their jewelry needs. In India, buying jewelry is like a festive occasion, and we are proud to provide our customers with assurance and satisfaction. Our commitment to excellence in product and service has resulted in our customers returning to us repeatedly. Our history spans six generations of the Gadgil family, and we look forward to serving our customers for many more generations to come.
How do you ensure the quality and authenticity of the jewellery?
When it comes to gold, the hallmark is the standard, and jewelry now has various forms of standardization. Our organization has a QC department and a quality control department, with over 50 people dedicated to ensuring the quality of our products. Quality goes beyond just purity; it also pertains to the finishing and polishing of the product. We also ensure the accuracy of any accompanying information. There are many contributors who work tirelessly to ensure the overall quality of our products. Our organization has a meticulous quality control process; all team members are trained internally. When new products are introduced, we provide product knowledge to our team members, and through continuous training and practice, we ensure our quality control is top-notch.
What is the target audience for Gargi?
As previously discussed, Gen-Z and Millennials are our primary target audiences. There are currently only three or four established players in the imitation or silver jewelry sector. We aim to cater to all age groups; everyone deserves to wear beautiful jewellery regardless of age. However, as a two-year-old brand, we are currently focusing on women around 30 or those who are young at heart. So, we cater to a wide range of customers.
So have you faced any notable challenges or controversies related to your brand?
Thankfully not. And I hope this will continue.
What are your brand’s future goals and aspirations?
We aim to pioneer and make the imitation and fashion jewellery industry more organized, as this industry lacks structure. This segment has tremendous potential, and we want to encourage new players to join in and compete, as it benefits buyers and brands alike. Our goal is to standardize the market and remove customers’ doubts about the quality of imitation products. As a brand that stands for quality, PNGS is confident about Gargi its premium fashion jewellery, ensuring that customers receive only the best. We operate online and through Amazon, PNGS stores, and franchise outlet in Vashi. In late April, we opened our first exclusive showroom on FC Road, Pune, and have partnered with Shoppers Stop for their Shop-in-shop model. We plan to explore similar tie-ups with other outlets and are in talks with more franchisees, using a hybrid model to expand with our shops, frontier shops, and marketplaces.
Is it only available in Maharashtra or, overall, in India? What if someone wants to order it online, what is the process?
We cater across India through our website, https://www.gargi.shop/, and also available on Amazon. Now, for online purchases, we are available in pan India through our portal and offline. We are in Pune & Mumbai via Shoppers Stop, Gargi-owned outlets like the franchise and exclusive showroom, and PNGS outlets.
Let’s talk about designs specifically, are these typical Indian or elegant Western designs?
Yeah, so if you see the portfolio as such, 70% to 75% would be Westernized, so European designs. As I told you, the primary focus is Gen Z and Millennials, and they do like that kind of thing. But as we are very traditional in PNGS, we have excellent artisans who can make very good traditional jewellery. So we have kept that 75:25 ratio in our portfolio.
What advice would you give to aspiring entrepreneurs looking to start their jewellery brands?
In today’s business landscape, many startups focus solely on acquiring new customers, neglecting the importance of customer retention. However, to build a successful and sustainable company that can last for 15-20 years, the key is to prioritize the quality of the product. Working tirelessly on perfecting the product before focusing on anything else is essential. Although other departments may be on different levels than the product department, it is crucial to ensure that the product is of the highest quality to maintain the company’s success.
As a co-founder, what did you learn in this entire journey?
I face unique challenges as a co-founder who is also an employee but not part of the PNGS family. According to me being a CFO of 10,000 companies is easier than being a co-founder of a startup. Buckle up and be ready for the grill. It will take time, but once you start gaining the rewards, I assure you it will be an excellent experience. And obviously, the money is good once you attend to a certain level. But the main thing is to be ready for the three to five years grill, whatever the gestation period you might need to get on with your startup.
So is there anything else you would like to add or share about your journey as a jewellery entrepreneur?
As a jewellery entrepreneur, I have observed that the segments of silver jewellery and imitation jewellery are experiencing significant growth in India. Despite only a few organized players, the market shows great potential. While some may fear the entry of new competitors, I acknowledge the benefits of healthy competition in standardizing the industry and facilitating marketing efforts. As an entrepreneur, I highly recommend exploring and investing in this segment for potentially high returns over the next five to ten years in India.
The incredible journey of creating a jewellery brand that speaks directly to the hearts and desires of young women. Gargi by PNGS stands as a testament to the fusion of tradition and contemporary aesthetics, offering a dazzling array of jewellery that empowers, inspires, and celebrates the individuality of the modern woman. With a commitment to craftsmanship, innovation, and capturing the essence of femininity, Gargi paves the way for a new generation of jewellery enthusiasts, redefining the concept of adornment for young women worldwide. As Gargi by PNGS continues to evolve and make its mark on the industry, we eagerly await future creations and bold designs that will continue to captivate and resonate with the dynamic spirit of today’s generation.