Left Menu
Development News Edition

Forevermark hosts business transformation programme at London School of Economics and Political Science in Shanghai

ANI | Mumbai (Maharashtra) | Updated: 07-06-2019 10:44 IST | Created: 07-06-2019 10:32 IST
Forevermark hosts business transformation programme at London School of Economics and Political Science in Shanghai
The areas covered were disruptive technologies in a digital era, the future of work, value and play, new retail expedition, managing the family firm, the leader as a strategic and value-focused decision maker besides others.

Forevermark, the diamond brand from De Beers Group, recently organised a customised programme on 'Leading Business Transformation' for their authorized retailers at the London School of Economics and Political Science (LSE) in Shanghai at the NYU Campus, one of the foremost social science universities in the world. Working with the London School of Economics and Political Science, Forevermark built this programme to open up the minds and build an enduring business transformation in the disruptive era for the leaders in the jewellery industry.

The aim of the course was to transform the thought process and create new age leaders for today. The areas covered were disruptive technologies in a digital era, the future of work, value and play, new retail expedition, managing the family firm, the leader as a strategic and value-focused decision maker besides others. Apart from the insightful classroom education, the jewellers were given a specialized tour of Shanghai's modern retail formats including Nike's latest experience showroom, Gentle Monster (an eyewear store), Libert'aime (Forevermark's 1000th store) and the Starbucks reserve, an extraordinary coffee experience.

"Forevermark worked closely with the academic coaching team of LSE to design the programme that would be suitable to the needs of our industry's encompassing points like leadership, the digital era, new retail experiences and managing the family firm. Our thought behind the course was to help our retailers understand the leading business transformations taking place in the industry. We hope that this programme will help our industry leaders to build a greater business and be future ready", elaborated Sachin Jain, President, Forevermark.

Some of the retailers who attended the program included, Indian Gems and Jewellery Creation, Senco Gold, Anmol, A.S. Motiwala, Khurana Jewellery House, C. Krishniah Chetty and Sons, Abaran Timeless Jewellery, Kirtilal Kalidas Jewellers, Narayan Jewellers, Bholason Jewellers, Rose, PMJ Jewels, Nikkamal, Mehta Emporium and D P Abhushan.

This is what some of the attendees had to say about their experience: "Forevermark has done a fantastic job by organizing the executive educative program. The recent one in Shanghai, in particular, has been fantastic, because I feel this is the centre of innovation. Besides the classroom teachings, we had access to the retail markets, which were important and we believe that India is going to replicate this very soon. We had some great faculty teaching us. One great learning from the sessions according to me was the importance of decision making. The course and the structure were explained very well with group discussions and role play," said Pratap Kamath, Director, Abaran Timeless Jewellery.

"As an individual, I think Forevermark has uplifted the entire idea of how we think and do business. We came here as individuals with a common goal and met so many people from our industry with different perspectives, mindsets. We learnt how to achieve these goals in an organized manner, using digital marketing or how to take decisions in a more scientific manner. Secondly, Forevermark helped us become more brand conscious by making us understand that it is not only about the product and value, but about the experience. Three most important things I would use in my day to day business are digital marketing, our businesses are going through a big change because of digitalization and how we can implement it in our small businesses in a certain way to achieve our goals better. Second is decision making which is very important. We take various decisions every day to regularize business or make strategic business decisions, which alter the whole system; we also work towards making it more productive. And the third is how to manage all of it together and increasing overall productivity which I think was the important take away for all of us," stated Abhinav Bhola, Director, Bholasons Jewellers.

"When we first introduced Forevermark in our company, we anticipated that the brand, given its global appeal, will bring added value to our minds as well as our customers. We believed that Forevermark would help our customers identify with quality diamonds and provide better transparency in all of our standard products. Forevermark has not only helped us grow in terms of selling diamonds in the metropolitan cities but also, it has helped us penetrate in Tier 2, Tier 3 and even Tier 4 cities. The brand, backed with the identity of a good quality diamond, has helped us become more confident in our business approach and operations", added Shankar Sen, Chairman, Senco Gold Limited.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION / BLOG / INTERVIEW

Globalization post-coronavirus to get a hit, self-sufficiency paradigm to rule

The massive scale of coronavirus outbreak, accompanied by uncertainty and fear, could lead to new behaviors and beliefs in the 21st-century population that is empowered with the internet....

Ayurveda for COVID 19: Professionals owe the responsibility to protect it from quacks and fake news

Indian Ayurveda professionals are lagging behind their foreign counterparts in handling quacks and protecting credentials of the Ayurveda at the time of COVID 19 pandemic. The professionals of Ayurveda cannot abjure the responsibility to co...

Education post-coronavirus: Schools to rush for more digitalization

Digital education would undoubtedly boom in the post-coronavirus world, supported by educational institutions that have discovered its efficiency during the crisis, but it is still not expected to outshine traditional classroom learning....

Videos

Latest News

Andhra Dy CM denies attending Nizamuddin event

Andhra Pradesh Deputy Chief Minister Amzad Basha on Wednesday rubbished media reports that he attended the Tablighi Jamaat event held at Nizamuddin area of South Delhi, which has emerged as a hotspot for COVID-19 after cases all across Indi...

Tripura to provide free ration to 6.19 lakh poor families for one month

Tripura government on Wednesday announced that 6.19 lakh poor families in the state would get free ration for one month in view of the COVID-19 situation and the 21-day lockdown. Law Minister Ratan Lal Nath on Wednesday said the decision to...

FTSE 100 slumps as banks hit by dividend halt

Londons stock markets suffered sharp losses on Wednesday, as banking shares dived after suspending dividend payments, while plunging factory activity across Asia underlined the economic hit from the coronavirus pandemic. Shares of Barclays,...

Coronavirus: Artists channel pandemic anxieties into creativity

Whether it is the paranoia inducing thoughts about getting infected by the deadly coronavirus, or the struggles of living in isolation, the pandemic is impacting all our lives and how. While some are coping with the situation by indulging i...

Give Feedback