Pioneers of the ‘ideal cut’ and ‘flower cut’ in diamonds and diamantaires since seven generations-‘Jean Paul Tolkowsky’ speaks to JCK India about diamonds and more. What is your outlook on the diamond jewellery business on a global scale as well as in India?
The diamond jewellery market is in a period of change. There is no doubt that Asian markets offer immense challenges, as well as opportunities. Our launch here, of our shop in shop in Bangalore is testament to that. We also see that diamond consumers internationally are becoming more discerning and educated. Quite rightly, they are demanding higher product quality, more information and legitimate added value. This provides a great opportunity for Tolkowsky, as the educated consumer can appreciate the highest quality of our diamonds and jewellery.
What is the thought behind Tolkowsky’s entry into India?
I am excited by the change that we are seeing. Inevitably, there is a polarization to either price based product, or collections with a quality and heritage which the educated consumer can relate to. The Indian consumer is one of the most demanding, educated and discerning consumers in the world.
I started retailing in Asia 17 years back. I was a young man at that time and I met a young Japanese retailer
just like a met C Krishniah Chetty Sons, but different. I was a young man manufacturing ideal cut and doing exactly what Marcel Tolkowsky always did. The Japanese retailer said “I’m interested in opening a Tolkowsky store. I have read and learnt about your history”. At that time my father was very active in the business though I was young, I was quite scared to use my family name, of whom seven generations had spent their lives doing the same business. What if I didn’t succeed? Hence, I ventured with my company named: ‘Excelco’.
Which other countries you plan to venture into after India?
We opened the first store in Japan - ‘Excelco Diamond Japan’. And all the products in the store were Tolkowsky’s and so more or less like the CKC store where all the diamonds used in the store are Tolkowsky’s. We have just opened our 55th store and are the most preferred brand in Japan for diamond engagement rings and as a ‘Gift of love.’
We are currently in discussions with local market partners in other strategically important markets. We are looking at China, Hong Kong and South-East Asia. We are working in the US and are also working with independent jewellers and small chains. We’re working in the United Kingdom as we speak, and continue to be in vogue in Japan, we plan to open an additional 10 stores next year in Japan. By next year we are going to have about 65 stores in Japan.