Ritesh N Barbhaya: Striving To Be A Trend-Setter In The Indian Fashion Jewellery Industry | CEOInsights Vendor
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Ritesh N Barbhaya: Striving To Be A Trend-Setter In The Indian Fashion Jewellery Industry

Ritesh N Barbhaya: Striving To Be A Trend-Setter In The Indian Fashion Jewellery Industry

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Ritesh N Barbhaya,Founder and CEO

Ritesh N Barbhaya

Founder and CEO

With over 4 decades of highly successful experiences in the fashion imitation jewellery segment by the founder’s family-owned enterprise–Tip Top Fashions which has been operating in the industry since 1983, JewelMaze has an opportunity and an un-paralleled advantage of bringing together the best brands and manufacturers on one platform to offer the latest and upcoming fashion jewellery trends at the most affordable price for the end consumer without compromising the product quality. Ritesh N Barbhaya who is the founder and CEO of the organization spearheads JewelMaze’s business operations and his industry expertise has helped him to break new business frontiers with the company.

In an exclusive interview with CEO INSIGHTS, Ritesh talks more about his professional journey and the unique business operations of JewelMaze.

Can you talk more about your educational and professional background?
After completing my B.E (Comp) from Mumbai University and Masters in Comp. Sc. From WPI (USA) and returning to India in 2002, I have over 15 years of Fashion Jewellery experience into Manufacturing, Wholesale, Exports & Imports from various corners of the world before venturing into our own E-commerce business in May 2016. The opportunity of having to work on different facets of the business has helped me to become a better business leader. It allowed me to make business decisions that are aimed for the holistic development of the organization.

Can you talk more about the current market landscape of fashion jewellery industry in India and what makes JewelMaze stand out from the rest of the competition?
Indian Fashion Jewellery industry is a highly fragmented and un-organized industry with most of the manufacturing happening in the slums of Mumbai. The end
consumer rarely gets the choice of any sizeable selection that are produced within India or sourced by importers from across the world.

JewelMaze aspires to become India's Finest Fashion Jewellery Shopping Destination with High Quality - Huge Variety - Latest Designs at Affordable Prices. We will have on-board all manufacturers, re-sellers, whole-sellers, exporters to come on our platform and transact with each other using the benefits of E-Commerce with a truly functional marketplace model. One category of people that are usually lost in our Industry are Designers. We want to give them a unique platform to showcase their creations.

Read something no one else is reading, Think something no one else is thinking, Do something no one else is doing


Where is JewelMaze currently positioned in the industry?
JewelMaze products are listed across all major horizontal marketplaces including Amazon, FlipKart, AJIO, SnapDeal, ShopClues, Nykaa and many more. We have been able to clock in impressive sales figures over the entirety of our operations and we make sure that we are active across various social media platforms in order to acquire new customers and showcase the products that we offer.

Can you talk more about the products that you offer?
We have created a diversified product portfolio in order to offer the customers varied options including an entire gamut of necklaces, earrings, pendants and bangles. Apart from that, we also offer men’s jewellery and bridal jewellery collections. We make sure that our products are competitively priced and are of the best quality to bring value to the customers. All this has helped us to create a niche in the market.

Can you mention some of the milestones that have bestowed you utmost satisfaction?
Over 70% of our total business comes from JewelMaze.com, our flagship D2C marketplace platform, where we have currently serviced over 300k+ Happy Customers and have acquired over 600k+ Social Media followers through FaceBook, InstaGram and other mediums, clocking revenues of about 5 Cr for FY 2020-21.
This huge confidence placed by such a high number of our customers on our brand is the most satisfying achievement than any founder can ever hope for.

I have also been blessed to have a career that I have had and by remaining optimistic and dedicated to constantly improve my business, I am aiming to elevate JewelMaze to greater heights.

How has the current pandemic affected JewelMaze?
While the first quarter of Apr-Jun 2020 was a complete whitewash, we came back very strongly for the remainder of the financial year 2020-21 with revenues rising higher than the previous financial year.

While working from home in early 2020, my team and I were able to start a completely new revenue stream through JewelEMarket.com – India’s Wholesale B2B Fashion Jewellery Online Market Platform. We have had tremendous success in having the stalwarts of our industry join us as sellers on the platform to give the B2B Customers from India along with the rest of the World a truly ‘Make In India’ experience with such a large assortment never before digitally available at any other place. By the close of the financial year, we have been able to service over 500 orders worldwide with over 50Lacs in revenue in the first year of business.

How does the future look for JewelMaze ?
JewelMaze.com – D2C Online Marketplace and JewelEMarket.com – Wholesale B2B Fashion Jewellery Market Platform will continue to remain the main pillars of our growth strategy.

We also want to build Cross Category Distribution Networks through other Fashion & Accessories businesses with Boutiques, Franchisee, Direct Sales, Exhibition routes. We want to leverage big volumes with the TV Home Shopping Combo business and we will open up touch points for customer engagement through EBO/MBO/Franchise routes in the longer term.

Ritesh Barbhaya, Founder and CEO, JewelMaze
With business in his blood, he is a second-generation Entrepreneur with passion for high fashion trendy yet affordable fashion jewellery sourced from across the globe and delivering via B2C E-Commerce. To upcoming entrepreneurs, he has one thing to say and that is “Never listen to people who never did the things which you are trying to do. Never.”

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