Entrepreneur: Komal Jain
Business Name: Smars Jewelry
Welcome to Entrepreneurs of India #startupstories episode 135
Jewelry business is not a new niche in India. The market is flooded with scores of brands that claim to sell unique jewelry accessories. But are they really good enough to satiate the quest for superlative and trendy designs?
Today, one crucial barrier to buying jewelry is its high price point. Komal Jain, a graduate of the Pearl Academy of Fashion in Jaipur and Gemological Institute of America (GIA), is breaking this barrier with her unique jewelry brand, Smars. She sells jewelry accessories of superlative quality at an affordable price range. Inspired by the nuances of contemporary design, Komal launched Smars Jewelry in 2017. Now they have a store in Delhi and their products are available online.
“The motto of our business is to make woman sparkle without spending a fortune. Accordingly, we have created a range of contemporary jewelry which is light on your pocket. While creating value for money, we do not compromise on the quality of our product,” says Komal. Let’s unravel the complete story of Smars Jewelry.
1) How did you get your idea for this business?
While studying the market I found that though there are a number of players who deal in costume jewelry, but the quality and finishing of the products were not inspiring. Accordingly, I wanted to create a range of jewelry which would fit in every wardrobe with contemporary design and at the same time look similar to real jewelry.
2) Why is “now” a good time for this idea to exist?
First off all, the present generation does not believe in spending a fortune in buying real jewelry. Secondly, as destination weddings are a craze nowadays, women do not wish to carry real jewelry while travelling due to safety reasons. Due to these reasons, they wish to have jewelry which does not pinch the pockets, but at the same gives that original look.
Smars Jewelry manufactures jewelry which is not only within a woman’s budget, but at the same time gives that original look as we use semi-precious stones and our craftsmanship is very detailed and intricate. Furthermore, costume jewelry gives a woman to have a wider set of collection in comparison to real jewelry.
3) What was the reaction from your family when you first decided to become an entrepreneur?
I am married to a family which is full of professionals – CA, MBA, LLB, CFA. So, when I came up with the idea of starting my own venture, my family members were very impressed that I wanted to become an entrepreneur and start my own business. They extended their full support in setting-up my business and gave me interesting ideas as to how to expand my work.
4) What was your biggest mistake in business and what did you learn from it?
By God’s grace I have been lucky that till date I have not made a mistake which has had a negative impact on my business venture. But yes, one thing I have realized is that you should not get over-zealous while running your business and be thoughtful with your decisions.
5) What is your biggest obstacle in the next 12 months and how will you overcome it?
Running business today is a very dynamic process and every day you face a new challenge. With the advent of social media, new players entering the market every other day, consumers are getting more choices and at the same time their taste is constantly changing.
Accordingly, you need to be on your feet to meet this challenge. My endeavour is to have a range of collection which is contemporary.
6) What habits contribute to your success?
Focus and passion. Whatever you do in your life, if you do it with passion and focus, you will succeed. Furthermore, there must a constant desire to learn every day.
7) If you had the opportunity to start this business again what would you do differently?
I would have started this business earlier than 2017.
8) What is your favourite inspirational quote?
My mission in life is not merely to survive, but to thrive and to do so with some passion, some compassion, some humor and some style – Maya Angelou
9) Where do you find inspiration?
I get inspired from my Dad. When he started business, he did not get anything in legacy, but due to sheer passion, hard-work and toil he built a business empire which people in my home-town still remember.
At the same time, he was a very generous person, humble and down to earth. He was always willing to help a needy person.
10) What is your favourite book?
“The Secret” by Rhonda Byrne.
11) What advice would you give to someone starting out?
Always listen to your inner soul as there is a bunch of people out there who are ready to pull you down. Believe in yourself and have the confidence and passion to achieve your goal – nobody can stop you.
A thorough knowledge of the market is what makes successful entrepreneurs stand apart. Through her research, Komal realized that a larger set of customers were not able to buy jewelry since it was an expensive affair. Moreover, the designs were not in line with trend.
She placed Smars Jewelry at the right position with a smart USP – Affordable jewelry with high style quotient. It worked. She had a vision about her brand and she put her heart and soul into turning it into fruition. Always keep your vision intact throughout your entrepreneurial journey.
Want to shop from Smars? Click here