Envisioning the future of manufacturers and distributors of diamonds and coloured gemstones, Sanjay Kothari introduces new advanced technologies and smart business, Peaklife discovers more.
KGK Group, one of the largest manufacturers and distributors of diamonds and coloured gemstones in the world. KGK believes in steady improvement of its wide spectrum of business through latest technological advancements and expansions. The group’s recent collaboration with NISHTA sets the benchmark of the expertise, where they came out with a new Brutter with a horizontal rotation of wheel that gives room to a larger area which further aids in cutting a larger stone of 100ct. Further, the group has also introduced green laser machine with fibre technology that provided beam stability thereby distinctively reducing the weight loss by 15% in a bracket of 4GR to 3CT products. Another feature that distinguished KGK’s presence in the global market is that the group is the first manufacturer to procure Synova DCS- 50 with customized 9 features. Sanjay Kothari, Vice Chairman, KGK Group share more about the desired technology, the organization aims to produce, and upgrade cutting precision of precious metals and achieve improved maintenance and better functionality.
- You being the 4th generation of Kothari family handling the KGK Group, tell us about the business and its legacy.
The KGK Group was founded by my great grandfathers Shri Kesrimal Ji and Shri Ghisilal Ji Kothari in 1905, with a humble task of trading gemstones between Indian and Burma. Gradually, the organization became more dynamic from generation to generation and had cultivated trusted relationships. With the fourth generation into business at the forefront, KGK has now successfully completed its portfolio from mines to brands. Today, we have successfully evolved and have marked our presence across 17 countries in Asia, North and South America, Europe, Africa & Australia. The multifaceted truth and extended family legacy of KGK shine through the efforts of generations and are bound to scale new heights in the years to come.
- How has your personal journey been so far?
My personal journey has been full of new experiences and challenges. I started taking interest in the family business rather early, joining it formally in 1986. I learned from scratch as those were the years when the business was growing, and everyone had a training centre. I underwent a rigorous training where I learnt the end-to-end process of diamond manufacturing, post which I mastered the skill to craft a diamond. Having learnt the basics of the business, as well as different processes involved, I came back to KGK and expanded it by first setting up a diamond processing unit in Mumbai, with the objective of augmenting the diamond segment of KGK that my father, Mr. Navrattan Kothari, had initiated. Thereafter, I shifted base to Hong Kong to boost the group’s diamond sales and marketing operations in the Far East, mainly in Hong Kong, Taiwan, Japan, China, Korea and Thailand. Also, I am glad that my teaming up with my younger brother Sandeep Kothari under the astute guidance of my father has resulted in KGK’s invincible growth
- Earlier the business was only restricted till India, how did you carry the vision of KGK internationally & diverged into the retail sector?
Setting out its inception in 1905 in India, KGK prospered exponentially and grew into a leading a multinational corporation under its third-generation leadership. The bond with the patrons is strengthened with every passing year and stronger presence has been established in almost every commercial centre in the world. Our attitude to adopt cultural changes without harming the roots, faster decision making, a more integrated management style, long-term vision and a win-win approach towards business partnerships had effectively contributed to our international standing. Today, the group amidst the fastest growing markets in the world is among the few names who are engaged in both mining and processing of colored gemstones. With years of hard work and fore vision, it has also achieved the vertically integrated standing of mines-to-brands in gems & jewellery industry.
- What is your strategy for the company in a market that’s cluttered and full of organized and unorganized players and how have you planned to further expand the business?
The industry is facing lots of challenges nowadays including transformation, consolidation and polarization. Past years were strong for the diamond industry, with escalated growth across all segments of the value chain. In upcoming years revenues are expected to grow again. Acceleration will be seen in the mining and jewelry retail segments. Now, we are focusing on diversifications and dimension related to efficient online business models as emerging and maturing digital technologies. Moreover, KGK is uniquely positioned and possesses a robust manufacturing and distribution system to cater the latest trends and ever-burgeoning taste and preferences of our patrons. Our cutting-edge manufacturing technology enables us to supply efficaciously and offer customized products for our patrons.
