Founded in 2005 by Mira Gulati, the brand `Mirari` has become one of the leading brands in the Indian jewellery sector. Being a CEO, she herself designs the classy and contemporary jewellery which has achieved worldwide appeal. In a tête-à-tête with The F
The Franchising World (TFW): What prompted you to venture into this jewellery retail business? How is the response of the Indian customers so far?
Mira Gulati (MG): As a child, I was always mesmerized by the ancient family jewels that are a part of my family history. I am fortunate enough to have had such a strong calling. This simple fascination over jewellery ultimately turned a vision to design and manufacture world-class jewels. My dream was not only to become a jewellery designer, but I enthusiastically worked to my own brand “Mirari”. I always want to see my brand providing the best international quality and designed jewellery to the end-customers.
So far response from customers has been enormous. Mirari`s international aesthetic has won patronage from many Indian women as well as selected international elite classes.
TFW: Before foraying into this business, what was your earlier occupation?
MG: For five years, I have worked as a Jewellery Designer & Gemologist in Gemological Institute of America.
TFW: Did you face any difficulty in the beginning being a woman entrepreneur?
MG: Taking initiatives to find a business is always challenging, especially when you are creating an international brand with quality and designs to match the customers of varied classes and cultures. At the same time, I must say that nobody in the world knows jewellery like an Indian woman, so this was an area where I could see a big opportunity waiting for me.
TFW: What is your business expansion plan in India and abroad? Have you ever thought of adopting franchise model for rapid expansion?
MG: Presently, our retail stores are in the exclusive luxury retailing stores, so that we maintain the exclusivity of the Mirari brand. However, we are looking forward to open our third store in Mumbai. We are also trying to expand our presence in the overseas cities like London, New York, Dubai, Kuwait and Shanghai.
There is no doubt, franchise model could be an alternative option for speedy expansion, but, frankly speaking, we have not explored this option. Probably, in future, we might adopt this route because every brand looks to have firm grip in the industry.
TFW: Where do you foresee the future of Mirari?
MG: My vision is to create Mirari a globally recognised luxury jewellery brand that takes the best that India has to offer on to the world stage.
TFW: What is your advice to future women entrepreneurs?
MG: My only advice is to choose new ground and be unafraid to take risks.