Final Deepak Immitation Jewellery Works Pvt Ltd

8/13/2019 Final Deepak Immitation Jewellery Works Pvt Ltd

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Entrepreneurship

Presentation

On:

Deepak Immitation

Jewellery Works Pvt. Ltd.



Presented By:

S.Y. BBI

Divya Ahuja 03

Karishma Amkar 05

Akshita Jadhav 14

Veronica Makhija 20

Harshita Shetty 34

Mary Argello 45



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



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.

http://www.indianchild.com/fashion/imitation_jewelry.htm



http://www.wisegeek.com/what-is-platinum.htm



http://www.wisegeek.com/what-is-platinum.htm






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

http://www.hiwtc.com/company/1747435/

http://www.hiwtc.com/company/1747435/



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.



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.



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.



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.



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.



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.



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.



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.



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.



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:



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:



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:



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:



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



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:



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:



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:



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:



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.



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.



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.



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.



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.

Documents

Final Deepak Immitation Jewellery Works Pvt Ltd