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THE GEMS BEHIND OUR JEWELS

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Gold is an integral part of our lives, more so in the lives of women. Considered auspicious, gold is part of every celebration – be it festivals or personal milestones.  According to the World Gold Council, Indian women collectively own around 24,000 tons of gold, which accounts for about 11% of the world’s total gold reserves in jewellery form. It is only right to say India is the global leader in household gold ownership.  The Oxford Gold Group’s report states that the Indian households have more gold than the combined reserves of the United States, the International Monetary Fund (IMF), Switzerland and Germany.

Vummidi Bangaru Jewellers has been serving the Indian community with authentic and aesthetically appealing gold jewels for 125 years, now. VBJ has been a benchmark for purity and trust for decades. Our remarkable growth story and undying patronage since the 1900 has been possible because of our quality, design and innovation in the jewellery space. Every piece of jewellery from VBJ is intricately crafted to bring out its true emotion with the purest of materials and finest craftsmanship. This has been possible because of the talented and focussed professionals of the VBJ team.

While VBJ is beyond gender classification among its team members, with women’s day round the corner, it is only right to celebrate and congratulate the women who have been instrumental for VBJ’s phenomenal growth.

We have a total of 254 women employees at VBJ – 233 in the retail and 21 in the creative centre. While it is our principle to value every employee, we are extremely proud of three women employees specifically who have spent decades with VBJ. Padmasri M has been with us for 42.08 years, Vanitha for 42.02 years and Latha S for 34.1 years. At this age and time, it is truly remarkable.  

As of now, we have 8 women designers and all of them have been trained at National Institute of Fashion Technology (NIFT).  In the earlier years, there have been several prominent women leaders who have made significant contributions to the brand, showcasing remarkable leadership and management skills in their respective roles like Vanitha, Latha, Revathi and Radha.

Vanitha handled the Anna Salai Silver branch, where she demonstrated her exceptional ability in managing both operational and customer service aspects of the business. As the order manager, Latha played a crucial role in streamlining the order management process.  Revathi was responsible for overseeing the Anna Nagar branch, a position that required strong leadership and managerial expertise.  Serving as the Billing Manager, Radha was pivotal in managing the financial transactions and ensuring smooth billing operations.

Specialised training programmes and growth

VBJ offers specialized training programs designed to enhance the technical and soft skills of their women professionals. The training focusses on leadership development, communication skills, technical training, and project management to ensure they are equipped to handle all departments of VBJ.

Women have equal access to all training programmes and career advancement opportunities. Our unbiased recruitment and promotion policies, focussing on merit and skills, are bringing more women to the team.

Woman power at VBJ

We have made considerable strides in increasing the female representation to reflect our commitment to diversity, equity and inclusion. In 2022, there was 130 women out of 584 employees, which increased to 166 (out of 748) the following year. This number escalated to 200 (out of 767) in 2024 and now it stands at 254 out of the total 847 employees. This has been possible because of focussed efforts to improve gender diversity, targeted recruitment initiatives, mentorship programmes, implementation of policies promoting work-life balance and inclusive development for women.  

In line with the theme of International Women’s Day 2025 – Accelerate Action – VBJ is working towards the continued upward trend in women participation and growth. We are strongly committed to fostering an environment where women feel valued and empowered in their roles at VBJ. At the helm, 5th generation women entrepreneurs from the VBJ family having started pouring in their creativity and fresh thoughts.

The Future of Women in Jewellery

The presence of women in the jewellery industry is not just growing—it is shaping its very foundation. Brands that actively foster gender inclusivity witness not only stronger business performance but also richer, more meaningful creations that resonate with a diverse audience. As we look ahead, the contributions of women in jewellery will continue to accelerate change – whether as designers reimagining aesthetics, artisans preserving age-old techniques, retail professionals enhancing customer experiences, or leaders driving sustainable business practices, their role is indispensable. On this International Women’s Day, let’s celebrate the true gems behind the jewels—the women who craft not just ornaments, but legacies that shine beyond brilliance.

National News

Sky Gold & Diamonds To Acquire Purvi Gems In Strategic Move To Drive Growth, Achieve Scale and Product Diversification

Rs 9 Crore Acquisition To Expand Lightweight & Studded Jewellery Portfolio and Boost Domestic and Export Growth

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Sky Gold & Diamonds Ltd., (Sky Gold) one of India’s leading jewellery manufacturers and exporters, has successfully completed the acquisition of 100% equity shares of  Purvi Gems & Jewellery (India) Private Limited, a company engaged in the manufacturing of uncut and precia jewellery and related products. Following the completion of the acquisition on October 7, 2026, Sky Gold is well-positioned to leverage Purvi Gems’ expertise in lightweight and studded jewellery to accelerate growth, enhance product diversification and strengthen its presence across key domestic and export markets.

The transaction is completed for a cash consideration of Rs 9 crores which represents 1.5x over its book value as of 31st Mar’26 and does not constitute a related-party transaction. Neither the promoter nor the promoter group of Sky Gold has any interest in Purvi Gems, reflecting the Company’s disciplined approach towards capital allocation and inorganic growth. The management of Purvi Gems to continue overseeing this business going forward, ensuring continuity and supporting the integration process.

Purvi Gems has built a strong position in specialised jewellery segments that continue to witness growing demand across key regions, including South India and Export market. The acquisition is expected to further enhance company’s exports while strengthening its ability to cater to evolving customer preferences in high margin studded jewellery business.

Key Strategic Benefits from Purvi Gems’ acquisition:

  • Immediate entry into the fast-growing lightweight uncut & precia jewellery segment, expanding Sky Gold’s addressable market
  • Increased exposure to the higher-margin studded jewellery category, supporting improvement in product mix and profitability
  • Potential of ~100 kg of monthly sales, enhancing scale and operational flexibility
  • Opportunity to unlock cross-selling opportunities and increase wallet share by leveraging Purvi Gems’ product portfolio across Sky Gold extensive customer network
  • Enhances export opportunity through specialised products with strong demand across key international markets, particularly the Middle East
  • Acquisition completed at book value, providing access to a business expected to generate over Rs 1,600-1,800 crore of annual revenue over the next two to three years, along with established customer relationships, specialised manufacturing capabilities, and an experienced team
  • Continues Sky Gold’s proven acquisition, which has historically contributed to enhanced scale and improved market positioning

The acquisition represents another important milestone in the company’s growth journey and is aligned with the long-term strategy of expanding its capabilities through carefully selected and strategically relevant acquisitions mainly in value added products having higher margins. Over the years, Sky Gold has successfully integrated acquired businesses to strengthen its market position, broaden its product offerings, improve operational efficiencies and create long-term value for stakeholders. The acquisition of Purvi Gems builds on this track record and further enhances the Company’s presence across high-growth jewellery categories.

Track Record of Successful Acquisitions

AcquisitionsStrategic RationalePre- Acquisition ScalePost- Acquisition Progress
Sparkling Chains Pvt. Ltd.Entry into the fast-moving chains segment; broaden product portfolioTurnover: ₹201 crore as on 31st March 2024 PAT: ₹0.1 croreTurnover: ₹760 crore as on 31st March 2026 PAT: ₹22.3 crore
Starmangalsutra Pvt. Ltd.Entry into the mangalsutra segment; broaden product portfolioTurnover :- ₹171 crore as on 31st March 2024 PAT :- ₹0.07 croreTurnover: ₹622 crore as on 31st March 2026 PAT: ₹22.9 crore
Speed Bangles Pvt. Ltd. (Erstwhile Ganna N Gold Pvt. Ltd.) (Revenues mainly on job work basis)Entry into specialised lightweight bangle manufacturing; broaden product portfolioTurnover: ₹0.87 crore as on 31st March 2025 PAT: ₹0.07 croreTurnover: ₹42 crore as on 31st March 2026 PAT: ₹16.6 crore (Acquired in Aug’25)
Shri Rishabh Gold (Revenues mainly on job work basis)Strengthen capabilities and expand customer baseTurnover: ₹49 crore as on 31st March 2025 PAT: ₹1.60 croreTurnover: ₹175 crore as on 31st March 2026 PAT: ₹18.8 crore (Acquired in Dec’25)

Commenting on the development, Mangesh Chauhan, Managing Director, Sky Gold & Diamonds Ltd., said:

“Strategic acquisitions have been an important driver of Sky Gold’s growth and value creation journey. Our disciplined approach to identifying and integrating businesses has helped us expand capabilities, diversify our product portfolio, improve operating efficiencies and strengthen profitability. Past acquisitions have contributed meaningfully to our scale and growth while creating long-term value for stakeholders. The acquisition of Purvi Gems is another step in this direction. The business brings complementary capabilities in the lightweight uncut and studded jewellery segments, an established customer base and a skilled team.

Given our proven track record of successfully integrating acquisitions and realizing operational synergies, we are confident that Purvi Gems will further strengthen our growth platform and support sustainable long-term value creation.”

Commenting on the development, Jigar Mehta, Director Purvi Gems & Jewellery (India) Pvt. Ltd., said:

“Over the last fifteen years, we have built a strong reputation in lightweight, uncut, and Precia jewellery through our commitment to quality, craftsmanship, and customer relationships. We believe Sky Gold’s scale, manufacturing capabilities, extensive customer network, and proven track record of integrating and growing acquired businesses provide the ideal platform for the next phase of our growth.”

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