Kunal Doshi & Gautam Parekh: Pioneering Entrepreneurs With A Vision To Steer VM Jewellery To Greater Heights | CEOInsights Vendor
Kunal Doshi & Gautam Parekh: Pioneering Entrepreneurs With A Vision To Steer VM Jewellery To Greater Heights

Kunal Doshi & Gautam Parekh: Pioneering Entrepreneurs With A Vision To Steer VM Jewellery To Greater Heights

Kunal Doshi,   Co-Founder

Kunal Doshi


The jewellery industry is one of the oldest industries in the country with many traditional companies still holding commendable market shares. Trying to infuse change in the industry through innovation and quality products is VM Jewellery. The company is run by two first generation entrepreneurs Kunal Doshi and Gautam Parekh. Apart from these two, another industry stalwart, Prashant Doshi has also played a crucial role in the company’s rise to success. Driven by their passion for jewellery and Indian craftsmanship, this versatile trio has been able to break new business frontiers with VM Jewellery. Leveraging their expertise, these pioneering entrepreneurs have also been able to make a name for themselves in the Indian jewellery industry and become one of the preferred vendors globally as well.

In an exclusive interview with CEO Insights, Kunal and Gautam talk more about VM Jewellery and their journey so far in the Gems and Jewellery segment.

Can you talk more about your educational and professional background also what motivates you to strive for sustained success in the industry?
Kunal: After graduation, got the opportunity to intern with a reputed diamond company. After that, I joined another company as a marketing executive for the domestic market. Eventually, I moved to a leading international diamond jewellery company where I further expanded my knowledge on jewellery and the industry as a whole.

I see immense growth potential in this area. At the same time, I see that, craftsmen and their hardships are often overlooked in this industry, and I want to change this aspect. So, I want to give these people a proper platform where they can showcase their talent to the world. Also, we as a company want to provide this exposure and nurture creativity among our employees.

Can you give us a brief overview of
VM Jewellery? Also, what sets you apart from the rest in the industry?
Kunal: VM Jewellery is a gathering of enthusiastic and experienced professionals who have come together to offer the best quality services to our customers. We are passionate to showcase Indian craftsmanship at its finest in front of the world. We are also one of the very few in our area and industry who are certified by 'Great Place to Work'. And this just goes to show the uniqueness of our work culture and the people centricity of our operations. Owing to all this, as of now, we work with major retailers in the world as their vendor partner.

Gautam: We started out from the scratch and even though we faced challenges especially during the initial days, we kept on believing in our business and that is what helped us to grow. We had a strong backing from our employees and they helped us to offer more than what the clients expected from us. Also, we challenge ourselves on a constant basis as it helps us to strive for consistent improvement in our domain. More importantly, the right blend of design, craftsmanship and production capacity helps us to stand out from the rest.

What were some of the major challenges you faced and what is your success mantra?
Kunal: My entire professional journey has been a huge learning experience and for our industry, it is hard to find firstgeneration entrepreneurs like us achieving the kind of success we have had since our inception. This is a huge factor for us to remain motivated to be better and to innovate. Also, working from the ground up has given us the ability to understand the most subtle nuances of the industry. Apart from that, the quality and commitment of our employees has helped us to grow. Our clients are also very supportive and have kept on coming back with bigger orders which was added fuel for us to take our business to greater heights.

How did the pandemic impact your business and what helped you to cope up with this unprecedented situation?
Kunal: Right from the onset of the pandemic, we realized that this will have major implications on not just us but for the entire jewellery industry. Luckily, we were able to position ourselves in the best possible manner before the height of the pandemic and made the best out of the given situation. Also, we made sure that all our employees are taken care of during that tough time. Despite the operations being shut, there were no salary cuts. Eventually when the demand for our products increased exponentially,
our employees stood by us, worked hard and helped us to scale the business even further. At the same time, we embraced remote working and even now, we follow a hybrid working model.

Gautam: The initial days of the pandemic was arduous but we were able to come out of it stronger than ever before. The composure and business wisdom we showed helped us to grow even further and increase our market presence. We were able to create a well laid out plan for man management and production and it was crucial for the growth we had over the last two years.

What are some of the major future plans of VM Jewellery?
Kunal: As of now, we are well positioned in the market with two existing manufacturing units in Mumbai and one massive unit coming up in Surat in order to scale our operations. I believe that India will become one of the most preferred jewellery manufacturing destinations in the world in the near future. We want to capitalize on this and scale our brand to serve large brands and retailers around the globe. When it comes to our expansion plans, we are focusing on the European, Australian and Middle Eastern markets.

Gautam: For us, every challenge is an opportunity to grow and this attitude has been the cornerstone behind our success. Going forward, apart from our current portfolio, we want to diverse into lab grown diamond jewellery as well and now we are setting up the needed infrastructure for that.

Kunal Doshi, Co-Founder, VM Jewellery
Kunal is a firm believer of ‘keep innovating and success will follow through’ and his pursuit for constant innovation has helped VM Jewellery to not only streamline their business operations but also to aim for greater things.

Gautam Parekh, Co-Founder, VM Jewellery
He is an enthusiastic business leader that is driven ensure the sustained success of the company and the never say die attitude that he brings to the table has helped VM Jewellery to tackle the challenges that comes along their way.

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