JB Insights
Our strategy- innovation, sustainable & ethical sourcing and customer satisfaction: Rahil Shah
Rahil Shah, The youngest Executive Director of Asian Star Co. Ltd., represents the third generation of the Shah family. Over the past years, he has been inducted steadily in different functions of the diamond business and currently is closely involved in the everyday functioning of rough procurement and diamond manufacturing. Being technology savvy, he has been instrumental in implementing new technologies at the factory and is the custodian of the integrity and veracity of the company’s diamond pipeline.
Your comments on the state of the Indian diamond industry as 2023 comes to a close. What were the challenges, opportunities?
The Indian Diamond industry encountered numerous challenges, including increased interest expenses, the geopolitical landscape, and a fall in profitability, and generally dampened demand. Inventory experienced a cycle of excess production last year, leading to significant overstocking this year, which has prolonged the destocking process. Additionally, persistent low demand in China and the USA, the two primary consumer markets, has exacerbated these issues. This year has underscored the critical importance of manufacturing efficiency as a fundamental component of business operations.
Your forecast for 2024- both from an India perspective and overall global scenario.
I see India emerge as one of the most promising markets in terms of demand, with the overall sentiment appearing to stabilize. Many jewellery retail chains are anticipated to expand. Globally, we expect China to experience a slow recovery and the USA markets to reach stability. The Middle East market also shows promise. Additionally, with 2024 being an election year in numerous countries, this will significantly influence consumer sentiment within the luxury sector.
The diamond industry voluntarily halted rough diamond imports for two months. How effective has this move been?
Indeed this strategy has proven successful in restoring consumer trust, as evidenced by the stabilization of polished prices and the ability for manufacturers to decrease their polished inventory to more sustainable levels. Additionally, there’s been some stabilization in the rough market, where the limited supply of rough has ultimately aided in establishing a stable price point for rough goods.
Sliding demand in markets including US, China has meant a decline in exports. The Russia- Ukraine , Israel-Hamas conflict, sanctions against Russian diamonds have all contributed to global volatility and uncertainty. What is the Indian diamond strategy to tackle these challenges.
I want to emphasize that adopting a strategy to enhance efficiency is crucial from a manufacturing standpoint. Maintaining profitability with minimal inventory levels and concentrating on polished sales are particularly beneficial for strategizing until we navigate through these difficult times.
The natural diamonds vs LGD(lab grown diamonds) debates and discussions continue. Your comments on how both segments can co-exist in the market place
We aim to focus on value addition in the diamond pipeline and hence our energy and focus will be in sustaining growth in the loose diamond manufacturing space alongside with expanding our footprint in the jewellery manufacturing space, both in the Indian market as well as exports. The conversation around natural diamonds and LGDs is evolving. I’d say they both cater to their own set of audiences, who appreciate and celebrate their unique value. While natural diamonds have their timeless allure, LGDs offer new possibilities. What matters is the commitment in catering to the diverse consumer preferences, ensuring excellence and integrity in every piece being offered.
Please comment on ASIAN STAR’s strategy, roadmap going forward.
Our roadmap at Asian Star is clear: we aim to lead with innovation and integrity. Our strategy is anchored in innovation, sustainable and ethical sourcing, and a relentless pursuit of customer satisfaction. We are expanding our global footprint, investing in cutting-edge technology and our people, and remaining steadfast to our core values of integrity, teamwork, and customer-centricity.
Your message for the diamond industry.
My message to the industry is to remain steadfast and visionary. It’s imperative we embrace change, prioritize sustainability, and continually seek to understand and fulfill our customers’ evolving needs. I would urge the diamond fraternity to work with a long term vision in mind that accounts for both profitability and efficiency. At Asian Star, we’re committed to setting industry benchmarks, focusing on ethical practices, and delivering unmatched quality and beauty. Together, we can ens
JB Insights
The New Jewellery Shopper: Why Trust Is Becoming The New Retail Currency
As Shoppers Arrive More Informed and Digitally Connected, Jewellery Retailers Are Shifting From Product-Led Selling To Trust-Led Experiences, Where Transparency, Personalisation and Confident Decision-Making Shape The Path To Purchase.
As jewellery consumers become more informed and value-conscious, retailers are discovering that the path from interest to purchase is increasingly shaped by trust, transparency and the quality of the buying experience.
There was a time when a customer walked into a jewellery showroom with a fairly simple expectation: find something beautiful, understand the price and make a purchase.
That equation is changing
The modern jewellery shopper may enter the store only after days or even weeks of digital research. Designs have already been compared, prices explored, brands evaluated and customer reviews considered. By the time the customer meets a salesperson, much of the discovery process may already have taken place online.

What remains is the more difficult part — making the customer feel certain.
This shift is quietly changing the dynamics of jewellery retail. The competitive advantage is no longer determined only by inventory, location or design assortment. Increasingly, it lies in how effectively a retailer can remove doubt and create confidence during the buying journey.
A Customer Who Arrives Informed
The jewellery customer of today is far more exposed to information than previous generations. Social media, brand websites, digital catalogues and online communities have made it easier to compare designs, materials, prices and brands before making a showroom visit.
But information does not always create certainty.
In fact, having too many choices and too much information can sometimes make the final decision more difficult. A customer may know exactly what they like but still hesitate over whether it represents the right value, the right style or the right long-term choice.
That gap between information and confidence is where the modern jewellery retailer increasingly has to operate.
The Retail Conversation Is Changing
The traditional sales conversation often begins with the product: its weight, design, stones, craftsmanship and price.
The emerging approach begins with the customer.
Why is the jewellery being purchased? Where will it be worn? What style does the customer normally choose? Is versatility important? What level of investment feels comfortable?

These questions can transform the interaction from a product presentation into a consultative buying experience.
For retailers, this requires sales teams to do more than know their inventory. They need to understand how to listen, curate and recommend.
Trust Has Become Part of the Product
A beautifully designed piece can attract attention, but uncertainty can stop the transaction.
Questions around making charges, gemstone valuation, diamond quality, exchange policies and long-term usability can influence the final decision.
This is why transparency is increasingly becoming a retail differentiator.
When the customer understands the components behind the price and the value attached to the product, the conversation becomes less about defending the price and more about explaining the value proposition.
The Digital Storefront Comes First
For many consumers, the first interaction with a jewellery brand does not happen inside a showroom.
It happens on a smartphone.

Instagram posts, websites, search results, influencer content, reviews and digital campaigns collectively create the first impression. By the time the customer walks into a store, the brand may already have been evaluated against several competitors.
This makes the digital presence an extension of the physical retail experience.
A retailer that promises premium craftsmanship offline but communicates inconsistently online creates a gap in customer confidence.
More Choice Does Not Always Mean More Conversion
Jewellery retailers have traditionally used extensive collections as a way of demonstrating scale and choice.
Yet an overwhelming assortment can create another problem: decision fatigue.
Curated selections based on occasions, lifestyles, price ranges and design preferences can help customers navigate the assortment more comfortably.
The role of the retailer is therefore gradually shifting from showing everything to showing what matters.
The Conversation Continues After the Customer Leaves
One of the most significant opportunities in jewellery retail may begin after the showroom visit.

A customer who leaves without purchasing is not necessarily a lost customer. They may still be comparing options, discussing the purchase with family or simply taking time to decide.
A personalised follow-up featuring shortlisted designs, availability information, new arrivals or relevant styling suggestions can keep the conversation alive without turning it into aggressive selling.
The objective is simple: remain relevant while the customer is still making the decision.
Retail’s Next Competitive Advantage
The jewellery industry is entering an environment where customers can access more information than ever before. This makes the role of the retailer more important — not less.
The winning retail experience will increasingly depend on the ability to combine product expertise with transparency, technology with human interaction, and choice with curation.
Jewellery will always be emotional. But the journey towards owning it is becoming increasingly rational. In that journey, trust may become one of the most valuable assets a jewellery retailer can build.
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