Interview with Prashant Dagha

Parshant-Dagha-Mumbai-Diamond-Jewelry-Trader

Tell us about how your career in Diamond Industry?
Started career in Diamond Jewellery Industry in year 2000. First job was Star Brilliant located at Parekh market. I use to take care of online marketing and related work. Prior to Diamond or Jewelry Industry, I was working for a dot com company and had learn tricks and trade of Internet marketing and selling.

Eventually I started working independently, started my business with name Ace Gems I started with simple thing like buying products form Mumbadevi market and then sell them on bazzi.com .I also started selling diamonds and diamond jewelry online. Thats how I started my career. Now I deal in to selling Jewelry online but usually at wholesale scale.

How was slowdown in 2008 according to you?
American market is biggest consumer of Jewelry I deal in to. Slowdown was severe around the world and surely worse in USA. Had really tough time doing any business. Diamond prices had fallen down beyond imagination. It was tough time for all big and small businesses in market.

Nowdays There are lot of Branded Jewelry retailers. These companies spend lot of money on branding and advertisement. What do you think about such companies?
Each and every new company that gets launched in jewelry Industry has certain goal and budget/money to spend. Brand awareness and competition is always good for consumer. Only branding will not take you ahead so I see these companies working very hard on quality of products they sell. And again consumers are more smart then we think of them. People who want to buy branded jewelry will do that. Those who want to buy from local Jewelry store will do that. In all consumers are growing and businesses are growing. Good one will stay longer.

You talk to many End user who buy jewelry, do you find concern about non-certified diamonds?
It depends on clients like some of my clients are buying non certified diamond. I have onbserved that when people are buying Gifts or buying jewelry for not-so-important occasion they dont mind buying Non-Certified Diamonds.

Talking about seller’s point of view. It is always good IDea to get spend money and get your diamonds certified if its a CARAT or costlier diamond. Makes selling process easy.

What do you think of prices of diamonds as of know?
I have no idea where prices will go next. But personally I do feel that if they go down, it will help. Doesnt feel correct to buy Diamonds with particular clarity of diamond at present price. But again its not easy to predict.

Right know it is a seller’s market. Frankly excitement amongst consumer has gone down in last 3-6 months for buying diamond & jewelry in market. I am sure if prices come down people would start buying again.

having said that you will still find many customers who want to buy Diamond jewelry at any cost but such customers are less in numbers.

Check out Prashant Dagha’s Interview on JewelrySucks.com, where we asked him more about Jewlery Industry and online marketing of Diamond Jewelry.

Enter Your Mail Address