Price, Styling and Product Range favours Silver: Prasad Kapre
The uptrend in gold and diamond prices have forced consumers to try silver jewellery. Low price, style and product range available in silver, encouraged Prasad Kapre to helm Silvostyle, an exclusive and affordable brand of silver jewellery by Style Quotient which is a subsidiary of P.N. Gadgil Jewellers. In a talk with Prasad Kapre, he tells us about Silvostyle and reasons why silver jewellery is increasingly becoming a popular choice among consumers.
Silver jewellery in India is a `12,000 crore market in value terms, according to market intelligence firm Euromonitor. Approving the statics, Prasad Kapre said, “Silver jewellery market is expected to achieve 15 thousand crores by the end of 2015.” With an extensive twenty nine years marketing experience in the gems and jewellery industry, Kapre has taken the leadership of Silvostyle, an exclusive brand of silver jewellery by Style Quotient, a subsidiary of P.N. Gadgil Jewellers.
With his expertise and knowledge, the exquisite silver jewellery company aims to grow better in the current market scenario. Kapre explains, “With the rise of gold and diamond prices, consumers needed an alternative to gold and diamonds. To cater to this demand Silvostyle was launched in 2012.” When asked about, if marketing silver jewellery is a challenging task, he confidently replied, “Not really. The price of silver, styling and product range favours silver. Changing lifestyle of women who are now working outside of homes and have more reasons of dressing up. They do not like repeating their jewellery. Hence, silver is quite popular.”
It’s not only friendly pricing that has contributed to the popularity of the metal. The emerging new lifestyle of the women is also one of the major reasons. “The number of occasions have increased and hence the need for jewellery has doubled too,” said Kapre. Women need different jewellery for different occasions and as silver jewellery is pocket friendly they are the best alternative to them. Silvostyle specializes in unswervingly creating unique and quirky oxidized and sterling jewellery pieces through techniques like tassel stamping, enameling as well as Jadau. Aesthetic designs, innovative techniques and craftsmanship aim to create a ‘Jewelvolution’ (revolution of Jewellery).
Catering to women from all walks of life their intricate and contemporary designs are chic yet affordable. “They say, the way you get dressed in the way you get addressed. Innovation is the key and we cater to a woman in all her roles and looks,” says Kapre, when asked about the USP of Silvostyle. As the brand offers a wide range of silver jewellery, there is range available at the store for different age groups. Highlighting the trend in silver jewellery, he says, “There is a demand for ethnic as well as contemporary jewellery in plain silver as well as well as colour stones. Lightweight silver jewellery is also highly demanded in the market.”
With a track record of innovation, clear strategic thinking, meticulous planning and knack for building businesses and brands in tune with the future, Kapre plans to take Silvostyle to new heights. He shares, “Silvostyle is planing to expand pan India. We have tied up with Tarun Tahiliani to make Tarun Tahiliani costume jewellery collection.” With silver jewellery, it is clear, a jeweller can now charge a premium for design innovation; there are consumers who are ready to pay a premium for it.
–Rika Aash Pathak