Family Business in Hometown

Since 1910, our family is in Jewelry business. Originally my great grandfather used to make gold and silver ornaments as per orders. And then when my family got expanded they added retail line to the business. Currently we have four retail branches in and around our hometown. As we all consider 21st century as tech savvy world my plan is to take the entire jewelry business online and make it worldwide famous brand. As jewelry industry is quite large and diverse, it’s very important to use web world to reach out mass amount of customers.

In order to our stand to the competitive online market I would advanced the business with latest technology and designs. My idea focus mainly towards 3D designs and customize jewelry.When it comes to expensive jewelry people are more concerned about the quality and design. In order to build that trust I planned to make it certified and guaranteed buy back.By going online the business would boost its sales and attract new customers.

To differentiate our traditional retail business with my online business I took following points into considering:

• Since its digital it would drastically decrease payroll of Skilled Salesman
• It would comparatively require less real estate capital investments
• Due to its extensive coverage it would boost up the sales
• Open reviews online would help people of make their right choices
• Unlike retail stores customers would then be able to customize their own designs

The MIB program would help me to address the specific challenges and opportunities of the luxury jewelry industry along with strong practical approach towards my family business.

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