“Even Today Silver is Majorly Purchased For the Purpose Of Investment”: Vibhor Jain
In an exclusive conversation with Vibhor Jain, Director- ArgentOr Silver sheds light on the growth strategy of the brand.BY Shipra Srivastava | February 03, 2018 | comments ( 0 ) |
ArgentOr Silver offers the finest quality silver and gold objet d’arts , gifts and home décor articles. Its collection is in a variety of ranges. ArgentOr brings Carrs of Sheffield, Silver By Aston Martin and Arthur Price of England to India for the first time.
Kindly shed light on journey of your brand so far? Also how do you see the market of silver object retailing is growing in India?
The brand has been on a growth trajectory since it opened doors to its first retail outlet in Delhi 5 years ago. Started with a single brand in the store, today we sell three brands and have three outlets. In general as the population and per capita income of the country increases the whole retail sector grows.
According to you, what are the major challenges when it comes to Silver retailing?
Even today silver is majorly purchased for the purpose of investment. So creating art pieces with very high quality craftsmanship is valued only by a handful of people. Like jewellery, silver business is also based on trust which takes time to build so there is a limit to growth but once trust is developed the client never goes away.
Kindly shed light on your current distribution in online and offline space? What are the strategies to scale up the distribution?
Currently we have 3 flagship stores between Delhi and Kolkota. We might be adding one more by this year end. Also our products are sold at a couple of trusted dealers in tier 2 cities. We are currently building on our online presence to retail through that medium.
Kindly shed light on your product and categories? Also mention your average bill size?
With more than 1200 SKUs we cater to a wide variety of client needs. We make tableware, barware, giftware, divinity accessories, god idols, cutlery, dinner services, home decor articles and much more using silver, semi precious stones, wood, fabric and glass. Our average bill value in retail is about INR 15000.
Who do you see as your competition?
Competition is everyone selling products in our category to our target clientele.
At last, kindly highlight your growth plans?
We are working towards opening more outlets and launching our online platform to increases sales and create more brand awareness
24 Nov 2015, Hotel Pullman, Aerocity, New Delhi.
Attend First global conference & master class on franchising.
GROW YOUR BRAND FRANCHISE >> REGISTER NOW!