Interview : Aishwarya Gupta, Founder, Wondr diamonds : An Early bird catches the worm

With three exclusive up and running exclusive stores up and running in Coimbatore, Chennai & Bangalore, Wondr diamonds have an advantage over other industry players in the lab Grown Diamond industry.

Lab Grown Diamonds have caught the fancy of American customers in recent years. In India too, the consumer curiosity and awareness are on the rise. Yet most jewellers have adopted a wait and watch approach before jumping in the fray. Coimbatore headquarteredWondr diamonds is one of the early adopters to set up retail outlets in Chennai and Coimbatore in quick succession. What sets the company apart from others is the fact that it has invested in manufacturing and retail infrastructure. After creating a proof of concept in its home state of Tamilnadu, the company is geared up to launch its franchisee stores in the states of karnataka and Telangana. Aishwarya Gupta, the founder of Wondr shared her vision and future plan withAnil Prabhakar.

?Anil :Please share the details of Wondr diamonds.

?Aishwarya :Wondr Diamonds is the brainchild of me and my sister,?Soundarya. We wanted to go beyond our family’s traditional jewellery business to start something pathbreaking. We are qualified gemologists and have grown up learning the trade thanks to many years of being involved with the family business.

?Both of us are graduates of Shri Ram College of Commerce. I have been heading the manufacturing facility, design studios, retail stores, wholesale, export, and property development.

?Soundarya, also a graduate of Shri Ram College of Commerce & University of Birmingham is a gemologist and has been overseeing the family business’ operations.

?Anil :When was Wondr diamonds launched and what motivated the founders to launch this initiative ?

Aishwarya :The founders of Wondr Diamonds, just like their brand, have an incredibly unique story. Not ones to sit on our laurels, they researched and recognized the growing trend of curious, progressive and adaptive consumers who are environmentally conscious and want to invest in products that are sustainable. We decided to cater to this new age of millenialconsumers who are progressive, globally connected and want to make the world a better place to live in.

?Both Soundarya and I are passionate about jewellery and our aim was to use technology tobring sustainable alternatives to classic bridal wear, casual wear and jewellery for special occasions. It is not just about catering to all jewellery and age groups; it is also about bringing affordable diamond jewellery to every home in India. My husband Anirudhan Grandhee is our co founder and is an integral part of the management team.

?Since time immemorial, mining diamonds has involved excavating deep into the earth which leaves behind a lot of scarring on the earth. This did not sit well with both sisters and drove us towards creating Wondr Diamonds which are earth- friendly, grown above the ground in a laboratory. They are absolutely pure diamonds and are 100% guilt free! We formally launched Wondr in January 2021.

?“Our diamonds are more affordable, purer and more environment friendly compared to natural diamonds, and they do not lose any of the sparkle or luster. A vast population of Indians aspire to buy diamonds and Wondr not only makes those dreams an achievable reality, but we also do it without harming the earth in any way.”?– Aishwarya, Founder, Wondr Diamonds

?Anil : Please tell us about the parent company and promoters’ background.

The company that owns the Wondr Diamonds brand is D Gem Mount.

D Gem Mount is a National Award winning state of the art Manufacturing facility, housing a number of?design studios with a successful track record of four decades. It is an integrated diamond company with enjoys supply chain benefits as is involved?in the all activities?ranging from cutting & polishing of diamonds, designing jewellery , manufacturing jewellery, wholesale, retail & exports of finished jewellery.?

Aishwarya’s father G Viswanathan is the chairman of D Gem Mount. Viswa Devji diamonds is a group company that is its retail arm with stores in Coimbatore and Chennai. It has access to the markets in GCC countries by virtue of its collaboration with the Bahrain based Devji group.?

Anil :South India is a big market for natural diamonds. Consumers usually buy diamonds of highest quality. In this context, how has been the response to Wondr ?

Aishwarya :Absolutely true. The consumers in south India are extremely knowledgeable and understand the finer nuances and technicalities of a diamond. They are also environmentally conscious and have appreciated the fact that the manufacturing process of LGDs consumes less energy. LGDs?are conflict free and are eco friendly. It is now possible to grow diamonds that match exact specifications as desired by the consumer.

Anil : How many SKUs have you launched so far ? What are the price points.

Aishwarya :Our price point starts from Rs.10,000/- onwards. We have an entire range right from nose pins to bridal collection. We plan to add new designs periodically in addition to the 230 odd SKUs that we currently have in our portfolio.

Anil : What type of diamonds do you use in your jewellery collections?

Aishwarya : LGDs are currently manufactured using High Pressure High Temperature (HPHT) and Chemical Vapour Deposition (CVD) technologies. We use both for our jewellery collections. Using CVD technique, it is now possible to grow Type II a diamonds that chemically purest and are free of?impurities such as boron and nitrogen.

At present we are sourcing these diamonds from reputed growers. At a later stage we have plans to set up growing facility in Coimbatore.

Anil :Please share your marketing & distribution plan.

We are a very young & energetic team who always want to try new and innovative ways of doing business. We already have an online presence. Going forward we plan to use social media effectively. We also plan to market our products through well known influencers and bloggers.

Anil :How many stores do you plan to open & in which cities ?

Aishwarya : Our company owned, ?company managed stores are up and running ?in Chennai and Coimbatore. Our franchisee Bangalore was launched in Jaynagaron 21st November with an encouraging response. Next on cards is Hyderabad. Both of these stores are being set up in collaboration with our franchise partners.

Our target is set up a network of 20 stores by the end of 2022. While franchising is a good strategy, the choice of a right partner is crucial.?We must ensure that we collaborate with likeminded partners whoshare our vision and business philosophy.

Wondr diamonds has become the first exclusive store chain store with three stores up and running.

It is good beginning for the brand as it has a presence at standalone locations as well as in the mall. The learning experience will help Wodrto expand and consolidate its pioneer status in India.

Wondr diamonds has economies of scale with the core competence of its parent company, D Gem Mount in cutting, polishing, and manufacturing of diamonds and jewellery. The additional margins, young and dynamic founders and an asset light model will give Aishwarya and her team a competitive advantage few others can match. When the plan to setup a diamond growing facility materializes, Wondr diamonds will own the entire value chain from the laboratory to the retail shelves.

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