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- Tell us a bit about your entrepreneurial/professional journey.
My journey began with a deep-rooted connection to P N Gadgil & Sons (PNGS), a brand with a legacy spanning over 193 years. Recognising the evolving preferences of modern consumers, I co-founded Gargi by PNGS in 2021, aiming to offer contemporary, affordable, and high-quality fashion jewellery that resonates with today's generation.
- When and how did Gargi by P. N. Gadgil start?
Gargi was launched in 2021 as a strategic extension of PNGS. It focuses on fashion-forward jewellery crafted from 92.5% sterling silver, brass, and, recently, diamonds. The idea was to cater to the evolving tastes of millennials and Gen Z, offering them elegant yet affordable pieces that resonate with their style.
- When did you come on board? How has the experience been so far?
As a co-founder, I have been involved since Gargi was conceptualised. The journey has been exhilarating, marked by rapid growth and learning. Within a short span, we have expanded our presence across India, and the positive response from our customers has been gratifying.
- What is your management mantra?
I believe in a collaborative approach that fosters innovation and agility. Empowering teams, encouraging open communication, and staying attuned to market trends are pivotal. We deliver value while maintaining the brand's integrity and customer trust.
- What are Gargi’s expansion plans for FY26?
We are on an ambitious growth trajectory. By FY26, we aim to expand our footprint to close to 100 locations. This expansion will enable us to penetrate Tier II and Tier III cities more deeply, bringing our collections closer to a broader audience.
- Where do you see the brand 5 years from now?
In the next five years, we envision Gargi as a household name in fashion jewellery across India. We aim to achieve a top-line revenue of ₹200 crore by FY28, driven by product diversification and strategic marketing initiatives.
- In your view, how has the silver jewellery and gifting items’ market evolved over the last 5 years?
The silver jewellery market in India has witnessed significant growth, driven by factors like affordability, versatility, and changing consumer preferences. There has been a shift towards minimalist designs and sustainable choices, making silver a preferred option for daily wear and gifting.
- How will it evolve in the next 5 years?
Looking ahead, the silver jewellery market is poised for continued growth. With increasing disposable incomes and a penchant for unique designs, consumers will seek personalised and ethically crafted pieces. Technology integration will enhance customer experiences, making silver jewellery more accessible and appealing.
- How have you integrated technology for the brand’s growth and expansion?
Technology is at the core of our operations. From leveraging data analytics for inventory management to enhancing our online shopping experience, we have embraced digital tools to streamline processes and engage customers effectively. Our e-commerce platform ensures a seamless shopping journey, complemented by virtual try-ons and personalised recommendations.
- How do you plan to cater to the growing markets of Tier II and Tier III cities?
Recognising the potential in these markets, we are focusing on expanding our retail presence through exclusive stores and franchise models. In the initial phase of our expansion, we will primarily target metro cities before gradually moving on to tier 1 and tier 2 cities. Additionally, our online platform ensures that customers in these regions can access our collections, bridging the gap between urban and semi-urban consumers.
- 3 key trends according to you in the silver jewellery and gifting items industry right now?
- Sustainable and Ethical Choices: Consumers increasingly value jewellery crafted from ethically sourced materials, emphasising sustainability.
- Personalisation: There is a growing demand for customised pieces that reflect individual styles and sentiments.\
- Digital Integration: AR/VR for virtual try-ons and AI-driven recommendations enhance the shopping experience.
How important has been the business model of franchising in the industry? How do you envisage it in the future?
Franchising has been instrumental in our rapid expansion, allowing us to tap into local markets with the support of dedicated partners. It offers scalability while maintaining brand consistency. We see franchising as a key strategy to deepen our market penetration, especially in emerging cities.
- How does Gargi support its franchisees?
We provide comprehensive support, including training, marketing assistance, inventory management systems, and continuous operational guidance. We aim to ensure that our franchise partners are well-equipped to deliver the Gargi experience to customers.
- How does the brand choose its franchisees?
We look for partners who align with our brand values and understand the local market well. We seek in our franchisees a passion for customer service, commitment to quality, and entrepreneurial spirit.
