Shrikant Zaveri, chairman, TBZ Original, is the fourth generation owner who transformed his family-owned business into a professionally-run outfit

‘Innovation runs in my Genes’

Shrikant Zaveri, chairman, TBZ Original, is the fourth generation owner who transformed his family-owned business into a professionally-run outfit

l Tribhovandas Bhimji Zaveri – The original since 1864

Born and brought up in Mumbai, Shrikant Zaveri always knew he was going to join the family's jewellery business. "There was no doubt in my mind about being a part of the family business. My great grandfather started in a small 8x10 tin shed back in 1864. Later, the business grew and made a mark in the industry as his sons and grandsons took the work forward. I came on board in 1979," says Zaveri. Those days, they owned one retail store and the entire family was running the show. Seeing his father give his 100% to the business became the driving force behind Zaveri's desire to join the business. "We got josh looking at my father work hard and the way he ran things. Basically, hard work runs in the genes," laughs Zaveri, who had many plans and dreams about the business which had to be kept on hold as the business was run by the entire family. "In the last 33 years, a lot has changed. When I started in the business my vision was very different from the rest of the family, but because it was a family business I had to be patient about things," he says. But as their family grew, everyone went their own way. "The last separation was in 2000, after which I took charge of the business. And looking at the legacy of the brand, I wanted it to be India's leading jewellery chain," says Zaveri, who launched the second retail outlet in Hyderabad in 2001. Over the last decade, under his leadership, the brand has had fifteen stores across India. "I am on a journey to achieve the dream I had for the brand," he smiles. Inheriting a business that has enthralled customers over one and a half century, shows that it is a legacy of sorts. And this made things comparatively easier for Zaveri. "We have been a trusted brand to generations of customers. I guess, that is the most important thing when you are trying leverage the brand," says Zaveri. The first change he brought to the businss after he took over in 2000, was that he brought in professionals to run the show. "Even though it had been a family-owned business, I did not want it to be run like that. So, I brought professionals to work for the company. Our expansion has been possible because there are systems and processes which ensure smooth functioning of the company," says Zaveri, who recently launched their IPO successfully. "Our company was already ahead of its time. Let me give you an example, we even have it in writing — an old invoice dating back to 1932, where we have given a buy-back guarantee," smiles Zaveri. "Even then, we had these game-changing policies. I have kept this tradition of innovations, along with better and fair business practices going, because we have always been ahead of competition when it comes to introducing customer-centric ideas." Even when the government introduced gold certification, TBZ original was one of the first to register for certification and get their stock verified. "Back in 1979, my vision was to run a transparent business and that's how the trust in our brand has been instated," he says. With understanding thier clientele, which is at the heart of their business, the future knows no limit. "Customer's needs are indispensible and never-ending and we will continue to research and develop more and more collections for them," he says confidently. Currently, their detachable jewellery collection, Dohra, is widely being advertised and has become quite popular with their customers. "We knew that customers wanted detachable designs, so we did a lot of R&D, and after knowing that we could deliver excellent products, we launched it," says Zaveri, who believes in understanding his team's core competence before planning a new collection to avoid compromising on quality. When you ask him about his inspiration, Zaveri says, "Customers are our best teachers." However, because he travels extensively, spending enough time with his customers is difficult. Luckily, striking a work-life balance has been easier for him. "Because the company is run by professionals, I don't have to be involved in its day-to-day events. I am the fourth generation in the business and we are here to understand and guide it in the right direction," says Zaveri. Business talk is not uncommon on their dining table, shares Zaveri. The fifth generation is already into the business and proud dad Shrikant can't stop gushing praises about them. "Both my daughters are directors. My elder daughter is married, so I discuss ideas with the younger one at home," smiles Zaveri, who recently became a proud grandfather. Outside of work, Zaveri likes to relax at his Karjat farmhouse. "Our family owned a property there, but when we separated, we had to let the property go. So, I went ahead and built another farmhouse," he smiles. Switching his phone off and spending time at the farmhouse, recharges his batteries but what he enjoys the most is spending quality time with his family. "I recently went to London with my family, granddaughter in tow. It was quite memorable," he says. A simple man, Zaveri believes in aspiring for great things in business. "I believe in chasing my dreams. I am a very simple person and luxuries don't mean much to me. All I believe in is my business." For Zaveri, the vision for the future is clear in his mind. "In addtion to the existing ones, we will be opening nine new stores across India. Also, there will be new collections on offer over the next year," says Zaveri, on a parting note. s_shakti@dnaindia.net