Bafleh Jewellery is not in the least simply a jewellery wholesaler. It is a company serious about being part of the bigger effort in keeping alive the love for jewellery and buyer confidence. Today, Bafleh effortlessly syncs with the modern consumer aspirations through its one-stop shopping destination and product diversity to ultimately deliver an unmatched consumer experience. In a talk with Mines to Market, Mr. Ramesh Vora, Managing Director, Bafleh Jewellery LLC (Dubai) shares insights into the company’s plans for the road ahead.
In your opinion has the practice in the jewellery wholesale trade evolved in recent times? Please share your insights.
Today, the marketplace of the wholesale trade of jewellery business has evolved multi-fold since the last decade. Wholesale trade is no more just about large quantities but also requires one to stock numerous varieties of jewellery from all over the world. The key to wholesale success is to strategically service requirements of the client from source to their doorstep. Being strategically based in UAE, we are able to cater to clients from around the globe which in return increases our purchasing capabilities hence giving an added cost benefit as well.
Are today’s retailers willing to experiment with new designs? Or, do you have to cater to the standard design demand given the price sensitivity of consumers?
Design requirements at the final consumer level have evolved drastically. Earlier 22 carat was predominantly for investment purchase. Now we see a niche segment who are demanding fancy Italian designs in 22 carats. A blend of new designs in the market attracts the young-aged clients, while demand for the standard designs is also to be met for cultural-backed Asian clientele.
Where do Millennials fit in your product demand?
Demand from Gen-Y has surged in recent times for the need of different varieties and unique designs. Lightweight jewellery products are like FMCG in today’s market-place which is especially liked by the youth across borders.
What is the unique consumer shopping experience you deliver at your retail stores in UAE?
Bafleh Jewellery is not just a Jewellery store, but it is an exquisite experience for the customers. Our Staff is well trained to associate with the customers’ need. The variety of products range from Italian, Turkish, Malaysian, Singaporean, Indian, Local UAE Jewellery, Hong Kong-based diamond jewellery and much more. Bafleh is one of the few wholesalers who deal in 18, 21 and 22-carat gold jewellery plus diamond jewellery. So, for a customer, all their requirements are fulfilled at our one-stop shop.
What enables you to cater to the demand variety from your clients across countries?
Our experienced staff members along with the management travel extensively across the world to reach out to our clients and understand their local demand and get to know the local pulse of the market, which enables us as a B2B business house to cater to demands from various countries. We visit atleast 4 major shows around the world, twice, in addition to purchase trips to develop specific designs suitable to the customers’ requirements.
Can digitization play any role for you to enhance your business relationships?
Digital enhancement in the field of Tele-communication has helped the Wholesale Jewellery business to grow seamlessly. Countries or Clients which were once aloof have now been penetrated and marketplaces have been created even where the physical presence is not there. With Virtual Market / Online Shopping becoming the new way to shop, Jewellery as a product is also capturing its share of the online platform.
What are your business growth plans in the near future?
Going ahead we wish to strategically expand retail operations in a kiosk-based jewellery model carrying smaller fancy ranges of gold and diamond studded jewellery. In the wholesale arena, reaching out to untapped markets is the way forward to further strengthen our supply chain.