In the very heart of Bihar, a state steeped in the richness of tradition and culture, lies Munnalal Maheshlal Arya Jewellers, a family-owned jewellery business that has been passed down through six generations.
With a legacy that spans over a century, this jeweller has seen it all - from the rise and fall of empires to the evolution of consumer preferences. Isn’t that a note-worthy, admirable legacy?
When asked about the inspiration behind their collections, the jeweller revealed that their focus lies in creating everyday light wear jewellery that caters to the average Indian, with a special emphasis on the rural market.
With a price range that starts from a lakh and goes up to 25 lakhs a piece, their jewellery is designed to be worn and treasured for generations to come. They’re deemed as heirloom pieces and cherished by the families through generations.
When asked about the typical customer who walks into their store, the jeweller described an average Indian household that comes with a lot of trust and savings, looking for a piece that will hold its value and be cherished for years to come. After all, don’t we love the idea of good jewellery for a beloved’s wedding?
Mr. Bhavesh revealed that most of their jewellery is purchased for weddings, gifting, and self-use, with a focus on gold jewellery that holds investment value. When asked about the current trends in the industry, the jeweller noted a resurgence in the demand for gold jewellery, particularly in certain markets. While diamond and Kundan jewellery have gained popularity in recent years, the jeweller believes that gold will always hold its value and remain a preferred choice for Indians.
Jewellery and skin tones:
When it comes to skin tones and colours, the jeweller explained that yellow gold stands out well on Indian skin, making it a popular choice for the Indian subcontinent. However, for those with a fairer skin tone, rose gold and white gold can be a good option. The jeweller also emphasized the importance of tradition and customs in the Indian jewellery industry, stating that yellow gold will always be the preferred choice due to its cultural significance.
Beyond the point of sale, Munnalal Maheshlal Arya Jewellers engages with customers through local events, music concerts, and CSR initiatives. With a strong offline presence, Mr Bhavesh believes that trust and legacy are key to their success. When asked about the challenges they faced during the COVID-19 pandemic, the jeweller revealed that while it was a difficult time for many jewellers, their business actually saw a surge in sales as people turned to investment opportunities.
Is gold a viable option for investment in today’s times?
In today's economy, Mr Bhavesh believes that gold is a superb investment option, offering returns of 5% to 6% every year. With a plan to establish an online presence in the next 6 to 9 months, Munnalal Maheshlal Arya Jewellers is confident that their legacy will continue to shine for generations to come.
Lastly, he also emphasized the importance of education in the jewellery industry, stating that not many brand owners today have a qualification in jewellery. All that one requires is a burning desire for a business of gemstones. Mr Bhavesh has had an impactful qualification to back his career in gemmology though: He has graduated as a gemologist from Gemological Institute of America, Carlsbad.
Needless to say, with a focus on gold and a commitment to quality, Munnalal Maheshlal Arya Jewellers is a true testament to the power of legacy and tradition in the Indian jewellery industry.
