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8/13/2019 Final Deepak Immitation Jewellery Works Pvt Ltd
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Entrepreneurship
Presentation
On:
Deepak Immitation
Jewellery Works Pvt. Ltd.
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Presented By:
S.Y. BBI
Divya Ahuja 03
Karishma Amkar 05
Akshita Jadhav 14
Veronica Makhija 20
Harshita Shetty 34
Mary Argello 45
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Contents:
• What is imitation jewellery?
• Company profile
• Profile of Owner
• Establishment of company
• Nature of business
• Location of company
• Finance
• Scenario
• Export and import of the business
• Challenging phase of the company
• Management structure and management of company
• Employees in company
• Company’s Clients
• Marketing mix
• Competitors of the company
• Future plans of the company
• SWOT Analysis
• Social responsibilities of the company.
• Findings
• Conclusion
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What is imitation jewellery?
Jewellery is every woman’s best friend and yet, whether
you agree or not her worst enemy. Why enemy? The answer is simple;
the price tag just makes her shun away the thought of owning jewelry.
But then this is the case with expensive jewellery set in gold or
platinum, embedded with precious stones. After all anything genuine
does come with a price tag. While real jewellery may not be affordable,
an absolutely wallet friendly option is imitation jewellery.
Imitation Jewelry is made in lead and zinc only. The metal is
treated to resemble a more expensive metal such as gold, silver,
or platinum. Traditionally, fake stones made from glass or paste were
used; however, some imitation jewellery uses real gemstones that are
less expensive versions of their precious ones. Usually, the “stones”
used.
At times there is demand for using plating of gold color or
silver color on imitation jewelry. Other then this Gold or Silver is never
used in imitation jewelry. Stones which are used in imitation jewellery
are of glass, plastic, acrylic or reign.
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Company ’s Profile:
DEEPAK IMMITATION JEWELLERY WORKS PVT LTD. is into
manufacturing of a wide range of products classified as imitation.
Though they have registered themselves as corporate entity in 2006;
they are in this business since last 20 years.
Business role: Manufacturer
Year Established: 2006
Brand Name: “La Provoke”
Website: http://www.hiwtc.com/company/1747435/
&
deepak imitation jewellery works pvt ltd
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Profile of Owner:
Owner’s Name: Mr. Deepak Valechha
Age: 47 years
Qualification of Owner: He is B.Com passed.
Marital status: Married
Wife’s name: Poonam Valechha
Children: 2 Daughters.
Work Experiences: Worked as an employee in jewellerymanufacturing company.
Mr. Deepak is 1st
Generation Entrepreneur.
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Establishment of the Company:
Mr. Deepak Valechha is the owner of the company. He lives
in a joint family. They are three brothers. The youngest being Mr.
Deepak then Mr. Nicky and the eldest is Mr. Naresh.They owned 4
shops in Mumbai of showpieces and fashion accessories.
Mr. Deepak had wished to start a business in jewellery making.
This wish was eventually fulfilled as he started small scale factory with
help of his brothers, separately manufacturing showpieces in the year
1994.
In the year 1996 they sold their 2 shops as Mr. Deepak Valechha
was in need of finance. This made both the brothers join his business.
And then later on year by year, the rest 2 shops were sold.
In 1996-1997 they ventured into fashion world manufacturing
fashion accessories along with showpieces.
The owner started his wholesale shop in Mumbai in the year
1998. In the year 2000 two shops in Bandar were started where the
company products were sold at retail level.
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Nature of Business:
As this company is related to the manufacturing of
products which is part of fashion world, the company’s nature of
business is customer oriented.
The company comes up with new and attractive designs of jewellery, to attract more customers.
The likes and dislikes of the products are known through
websites and also through his clients. The information collected is given
due importance and the reviews of clients and customers are also
considered.
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Location of the Company:
Company Address: Plot No. 55A, Collectors Colony, Chembur,
Mumbai 400 074.
Location is selected on the basis of easy availability of transport andcommunication facilities.
Cheap and skilled labours are easily available as it is commercial and
residential area.
Area is surrounded by factories like R.C.F and TATA.
Being a commercial area there is sufficient availability of power, fuel
and water.
There is easy access to materials and supplies.
Favorable location can reduce total cost of production as well as costof marketing and hence profit can be maximized.
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Finance:
While starting their business the funds were arranged by taking small
amount of loan.
Mr. Deepak also bowered funds from friends and family.
Later on the profits which were earned after selling the four shops in
the year 1997 was put into the business.
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Scenario:
Past {1994-2006}:
They had a small scale business, where they used to
manufacture and sell their products. The products were sold atwholesale and retail price. They had a wholesale shop at Mumbai
central and 2 retail shops at Bandra.
Present {2006-2013}:
This enterprise has reached to an international level where they
only sell their products at wholesale rate. They have stopped retail
business in the year 2011 and have fully concentrated in wholesale
business.
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Export and Import of the Business:
The imports:
The company started importing its raw materials from the
foreign market in the year 2006.
The main aim behind importing raw materials was tomanufacture quality products.
The company imports raw materials from different foreign
markets, mainly from China.
The exports:
The company now has reached to an international level
wherein the products manufactured by them are sold in foreign
market.
The exports were started in the year 2008.
As the company used to import raw materials from foreign market,
it became easy for the company to make contracts with his client.
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Challenges of the Company:
The challenge of the company is to compete with his competitors.
The biggest challenge faced by the companies is to cope up with
the new innovative products in the market.
Challenging Phase of the
Company:
• 2005-2006:
The year 2005 and 2006 was the challenging period for Mr.
Deepak as; he had to find quality raw materials from foreign markets.
• During 2008:
During the year 2008 Mr. Deepak had started exporting hisproducts. This was his challenging period as he had to find clients
from foreign market and also had to retain them by gaining their
trust.
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Management
Structure:
The three brothers work as partners and there are employees
under them.
Mr. Deepak looks after the imports of raw materials and
production. The exports are looked after by Mr. Nicky Valechha and the
elder brother that is Mr. Naresh Valechha manages the accounts of the
company.
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Management of the Company:
Management structure of this company is simple; it does not
include too many members but sufficient employees.
There is proper delegation of authority.
Success of the company is based on its team effort.
There is proper utilization of raw materials and there is no scope
of wastage.
There is proper balance in skills and talents of the members.
Employees of the Company:
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There are about 11 to 50 number of employees in the company
Mr. Deepak conducts proper selection procedure on the basis of
work experience, qualification of the employees.
He stresses on the development of the employees.
The employees are given proper training.
Employees are motivated by giving them incentives, bonus, rewards
and appraisals.
Employees are not kept on a temporary basis for a longer period of
time but are made permanent.
They are provided with proper medical facilities in case of need.
Company’s Clients:
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The company exports its product to its client. The clients of this
company are speared all over the word.
Some of the major clients are situated in:
North America,
South America,
Western Europe,
Eastern Europe,
Eastern Asia,
Southeast Asia and
Africa
Marketing Mix:
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1) Product:
They provide with Imitation jewellery and fashion
accessories like earings, anklets, necklace, bracelets, hairbands, baby
pins, and birthday return gifts for children and also seasonal items
such as rakhi, friendship bands and so on.
2) Pricing:
The product manufactured by this company is given at
reasonable prices, which are affordable by common people.
3) Promotion:
The company products are promoted through websites. Thereviews and complaints are handled online. It provides personal as well
as impersonal promotion.
4) Placement:
Location is selected on the basis of easy availability oftransport and communication facilities.
Competitors of the Company:
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As the company is manufacturing fashion accessories there
are many competitors in market which proves as challenge for the
company.
The two competitors among them are:
I. Aashique Creation { Malad}
II. Mangalmani Jewellers {Kalbadevi}
Future Plans
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Of The Company:
The company’s future plan is to cover maximum markets all
over the world. It aims at spreading his business in domestic as well as
international level.
SWOT Analysis:
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1) Strength:
a. Family support:
They have a supportive family and their business is being
carried on, from generation to generation. There is good
understanding among the family members. Funds are easily raised
because of family support. Because of this there is Continuity and
stability in business.
b. Work experience:
As he had great work experience in jewellery making he
gained more confidence and utilized it to his full abilities.
c. Foreign market:
As with his overall experience he ventured into foreign
market.
d. Team spirit:
Though the employees are limited i.e.11-50, they workwhole heartedly with dedication and are well focused as a team.
Overall skills of the members are utilized.
e. Limited liability:
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The liability is limited as the risk is shared among the
brothers.
f. Reasonable rate:As these accessories come at reasonable prices, large
section of society can easily lay their hands on.
2) Weakness:
a. Business secrets:
Any labour being dismissed can lead to letting out of secrets of
their company to the rivals.
b. Totally dependent on labours:
Loss of labour can cause a greater loss to their production
and also cause differences in their work.
c. Dependant on importers:There are chances of raw material getting delayed as they
need to be imported.
3) Opportunities:
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a. New trends:
It is a growing trend among the youngsters, artificial and
fashionable jewellery are mostly preferred other than gold and
silver.
b. International level:
As the company has reached to international level, theirprofits and standard has increased tremendously.
c. It is Small scale business which leads to easy working.
4) Threats:
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a) Competition:
As fashion and trends keeps on changing, there are a lot
of competitors in the market, which is a threat to the company.
b) Possibilities of family dispute:
There may be absence of delegation of authority which
leads to conflicts.
c) Dependant on importers:
Though it is a weakness, it is also considered as threat for
the company.
d) If there is a huge loss it may lead to winding up of the company.
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Social Responsibilities of the
Company:
Though it is a profit oriented business, social responsibilities
are also given due importance.
Towards the employees:
As the success of the business is depended on the morale of
the employees a due importance is given to them. Social
responsibilities towards employees are fulfilled by providing them with
proper working conditions, providing them with a positive
environment.
Towards society:
He is responsible to fulfill the responsibilities to the
interest of the welfare of the society. He gives 1/4th
of his income for
charity. So the ambitions of the societies are fulfilled through these
charities.
Towards customer:
He provides good quality products to its customers and
concentrates on improving its quality and productivity. He provides
products at reasonable rates. These products are easily available to the
customers. He does not cheat his customers and is loyal towards them.
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Relation with family
AndFamily Interest
Towards The Business
When he commenced his business, he had full support of his
families.
Good suggestions are given by the family.
One of the most prior advantage which he gets is that of getting
experience and support from elders in the family.
The next generation has willing started participating in the business
and is giving their best in widening up of the business.
Mr. Deepak always balances his time by giving equal importance to
his family and profession.
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Findings:
• Mr. Deepak is punctual and a responsible person.
• He has full dedication towards his work.
• He is a soft spoken person.
Recommendations:
According to us:
• Mr. Deepak Valechha should employee more staff.
• He should open more branches.
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Conclusion:
Though Mr. Deepak is only B.Com passed, he has been able to get his
business at that stage where he wished 20 years before.
Though this company is at small scale level, it is well established.
The company has ample scope for specialized management.
This company maintains its reputation by providing good quality
products at fair price and by giving fair treatment to its employees.
The company has gained trust of its foreign clients which has
eventually helped it to reach at international level.