Making this precious stone part of more people’s lives and enhancing the title of this Diamond City
In the heart of Surat, a city renowned for its diamond trade for decades, Ayaani Diamonds is making waves in the jewelry industry. Co-founded in 2022 by Dhruv Savalia and Rajanikant Chanchad, Ayaani specializes in manufacturing and retailing lab-grown diamond jewelry. Amid the challenges posed by the pandemic, this innovative venture is not just about selling jewelry; it’s about reshaping perceptions and creating opportunities within the burgeoning market of lab-grown diamonds.
The Genesis of Ayaani Diamonds
The journey of Ayaani Diamonds began during the uncertain times of the COVID-19 lockdown. Fresh out of graduation, Dhruv Savalia saw a unique opportunity amidst the economic downturn. With a keen interest in the diamond industry, he dove deep into market research, uncovering that Surat predominantly polished imported diamonds. Why not start venturing into the less explored sector of lab-grown diamonds and add a star to the diamond city of India? His exploration of lab-grown diamonds sparked a vision—"Why not produce these high-quality gems locally?”
Dhruv’s entrepreneurial spirit led him to partner with Rajanikant Chanchad, an experienced jewelry manufacturer. Together, they identified a significant gap in the market—while a few manufacturers were exporting lab-grown diamonds, no one was crafting jewelry from them in India. This insight fueled their ambition to establish Ayaani Diamonds, blending Dhruv’s marketing expertise with Rajanikant’s manufacturing know-how.
Vision and Goals
With a vision to establish 100 retail stores of lab-grown diamond jewelry across India by 2027, Ayaani Diamonds is poised to change the landscape of the jewelry market. The founders believe that by manufacturing locally, they contribute to the economy while also providing cost-effective and environmentally friendly options. Their goal is not just to create a brand but to foster employment opportunities and enhance Surat’s reputation as a diamond hub.
Overcoming Challenges
The road hasn’t been without obstacles. Initially, consumers were skeptical about lab-grown diamonds, often dismissing them as inferior. Starting during a pandemic meant that financial constraints also hindered market acceptance. Dhruv and Rajanikant faced numerous rejections while navigating the B2B landscape. However, these setbacks ultimately inspired them to pivot toward a retail model, recognizing that direct engagement with consumers was essential to building trust and awareness.
“When entering the lab-grown diamond industry, we viewed the challenges not as risks but as opportunities,” Dhruv explained. “With government support and growing recognition, our belief in this sector never wavered.”
Navigating Setbacks
Dhruv emphasized the importance of maintaining focus on their long-term vision during challenging times. “Setbacks are part of any journey, but with a clear purpose, they become mere stepping stones.” This perspective has allowed Ayaani to view challenges as temporary, bolstered by a commitment to their overarching goals. They believe that at times of distress, just remember the first day when you started; your initial vision is your ultimate fuel in the journey.
Forming A Community And Standing Out At The Same Time
Its strong in-house manufacturing unit sets Ayaani Diamonds apart, enabling superior customization and service. The duo’s commitment to design and quality is evident in their stunning collections, which have resonated with consumers. Their approach combines innovation with tradition, ensuring that every piece reflects the craftsmanship synonymous with Surat.
By anticipating potential challenges and establishing a robust strategy for growth, Ayaani Diamonds has cultivated a thriving network and built reliable relationships within the industry. They believe “network is equal to net worth.”
Dhruv noted one very interesting thing in this industry that other businesses of the industry are more of copartners rather than competitors. They see the time to build a market, to form a base where businesses can have healthy competition in the future.
“We believe in community over competition. Together with other businesses, we’re building a market that can support our growth,” Dhruv noted.
A Bright Future Ahead
The acceptance of lab-grown diamonds in Surat has surpassed their expectations, and Ayaani Diamonds is steadily carving out its niche. With a burgeoning market and strong government backing, the future looks promising. “If you’re considering entering this industry, now is the time. The market is ripe with opportunity,” Dhruv advised. “We have a bright future ahead. The industry that serves emotional values, has government support and the market needs it, then the future is undoubtedly bright.”
Beyond business, Ayaani Diamonds is committed to social responsibility, pledging 1% of its income towards education, health, and environmental conservation. This ethos of giving back underscores their vision of not just building a brand but fostering a community.
Ayaani Diamonds is at the forefront of a revolution in the jewelry industry. With their unwavering commitment to quality, sustainability, and social impact, Dhruv Savalia and Rajanikant Chanchad are redefining what it means to wear a diamond. As they expand their reach across India, Ayaani Diamonds isn’t just selling jewelry; they’re cultivating a movement - one that champions innovation, craftsmanship, and a brighter future for all.
