In this episode, we cover:

The role of leadership mindset in brand growth

• Why company culture is a growth multiplier

• Balancing speed vs sustainability in startups

• Decision-making at different stages of business

• Lessons for founders building long-term brands

In this podcast episode, Rajiv Popley, Director of Popley & Sons, discusses the evolution of their century-old legacy jewelry brand and the changing retail landscape.

Here's a summary of the key topics:

• Popley & Sons Legacy and Evolution (0:53-3:29): Rajiv Popley shares his journey in the family business, emphasizing how their involvement in the jewelry industry has evolved since childhood, driven by family discussions and a deep understanding of the trade. The brand is approaching its 100-year mark, a milestone they are very proud of, attributing their success to building strong, multi-generational relationships with clients (3:30-4:43).
  
  

• Jewelry Retail: Then vs. Now (Pre & Post-COVID) (5:05-8:07): Popley highlights the significant shift in consumer behavior post-COVID-19. Consumers are now prioritizing self-satisfaction and enjoying the present, leading to a demand for personalized and bespoke jewelry for self-gifting and acknowledgment within their close circles.
  
  

• Competition with Other Industries (8:08-9:23): The jewelry industry has always competed with other luxury categories like travel and white goods, and this competition is intensifying, especially with urban Indian consumers showing strong interest in travel.
  
  

• Technological Evolution at Popley (9:24-19:38): Popley & Sons has embraced technology extensively. They moved from print media to digital communication like blogs, established an in-house digital team (10:09-10:13), and were early adopters of e-commerce in 1999 (14:17-14:20). Their web portals are equipped with AR and AI technologies, allowing for a global reach (11:13-11:58). They were also pioneers in 3D printing for jewelry manufacturing (15:28-15:33) and among the first to obtain a BIS license for hallmarking (17:16-17:21) and launch platinum jewelry in India (18:18-18:22).
  
  

• What Sets Popley's Apart (19:39-24:05): Their distinction comes from being a fabricating company focused on design creation rather than just trading. They hold licenses for creating collections for major brands like Walt Disney Worldwide (20:02-20:23) and Yashraj Films (21:16-21:26), creating unique and commercially viable products. Rajiv Popley also has his own art-inspired jewelry line made in platinum (21:50-22:19).
  
  

• Connecting with the New Generation (Gen Z) (24:06-26:45): Contrary to the belief that Gen Z is not interested in jewelry, Popley finds that this generation (especially 28-35 year olds) has significant disposable income and is well-educated about product categories, making them focused and knowledgeable buyers. They also observe couples investing in their own wedding bands.
  
  

• Niche vs. Diversification & Branding Tips for Gen Z Entrepreneurs (26:46-31:15): For new entrants, Popley advises focusing on a niche rather than diversifying too broadly initially. The key is to listen to the audience and create products specifically for their demands, prioritizing qualitative sales over quantitative ones.
  
  

• Standing Out in a Crowded Market (31:16-33:00): Instead of competing with large corporations on a national scale, smaller businesses should focus on going deeper within their own circle and connecting with a better-suited consumer base. Digital platforms can help achieve this deeper connection within budget.
  
  

• Crafting a Winning Team (33:01-38:53): Building a strong team requires significant energy and investment in training. Popley emphasizes that it's not an outsourced format, and founders must invest time in their team to sculpt a perfect fit for the company's needs.
  
  

• Why Digital Needs Its Own Strategy (38:54-42:49): Digital is no longer just a marketing tool; it's a parallel enterprise that should be integrated across all verticals of a company, from operations and accounting to communication and e-commerce. A digital backbone is essential for the entire enterprise.
  
  

• Online Discovery, Offline Purchase (42:50-43:54): Customers discover the brand through a mix of online presence, referrals, and their century-long reputation. It's a 360-degree approach where digital communication supports traditional referrals.
  
  

• Future Retail Challenges (43:55-46:15): The constant need for expansion in certain areas and evolving theories of retail present ongoing challenges.