Women and aspirations go hand in hand. However, few women create aspirations as they continue their journey of life. Mamta Modi is one such woman who has created her aspiration and pursued it with conviction, thereby making a mark in society.
Let us get to know Mamta as Riya Chakraborty engages with her in a Tête-à-tête.
RC: Can you share a glimpse of your childhood?
MM: My childhood was quite pampered, being the youngest with three elder sisters and a brother. I never had to worry about household chores. My father, Sri. Chandrakant Modi, started in the diamond business but later ventured into politics. Interestingly, he believed in empowering his daughters to be entrepreneurs, not employees. This has influenced my journey a lot.
RC: From where did you complete your education?
MM: My schooling took place at St. Xavier, Meera Road, up until the 10th grade. Following that, I pursued my education at BES College of Commerce. During my final year, I got engaged to Mr. Rajesh Modi, the owner of Chandrika Gems Jewellers Pvt Ltd. Co-incidentally and also fortunately, both my father and husband are involved in the diamond business. That is why I found it quite accessible and easy to comprehend those aspects.
RC: How did you initiate your career journey?
MM: Upon relocating to Kolkata, where the majority spoke Bengali, I found myself with some idle time as I was proficient in Hindi, Gujarati, and Marathi but not in Bengali. So, my father-in-law opened a small shop for me in Vardaan Market, which was an imitation jewelry shop. Initially, it served as a way to keep myself engaged.
As time progressed, I began to appreciate my surroundings and understand the essence of the place. Eventually, my father-in-law shifted me to Chandrika Jewellers. Given my minimal knowledge of Bengali, I learned the language by listening to and interacting with my customers.
The genuine support and motivation from the Bengali community not only enriched my linguistic skills but also provided the real impetus for my business acumen, teaching me valuable lessons in adaptability.
RC: How has your relationship with your in-laws influenced your journey?
MM: The term ‘in-laws’ never felt apt; they embraced me as their own, much like my parents. Their unconditional love and treatment as their own daughter have been remarkable. Our shop is named after my mother-in-law, Chandrika. Both my father-in-law and mother-in-law have been incredibly supportive, consistently encouraging me to venture out and manage the business. Initially, a pearl gems and jewelry merchant, Chandrika evolved into diamonds. The transition from catering to pearl customers to attracting gold and diamond customers was a commendable effort by my in-laws and husband. There’s a wealth of knowledge and inspiration to draw from their journey.
RC: How did you approach business strategies?
MM: Embracing the mantra ‘the more, the merrier,’ we introduced special offers, such as real diamonds upon silver rings starting from just Rs. 899. This initiative specifically targeted the youth, drawing them in for occasions like Valentine’s Day. Through strategic pamphlet distribution, we witnessed a fantastic response. Encouraged by this, we expanded our offerings to include festive occasions like Dhanteras, continually innovating to provide enticing deals and connect with a broader customer base.
RC: What do you consider the key strength of your brand today?
MM: Our brand’s greatest strength lies in our customers. We hold the belief that every customer, whether spending 10,000 rupees or lakhs, is equally significant to us. The special bond we share with our customers is truly a blessing. Before introducing any new scheme, we always consider it from the customer’s perspective. This approach led us to launch schemes like EMI on gold purchases for daughters with 2 free EMIs, recognizing the significance of daughters and aiming to alleviate any societal burden associated with them.
Our commitment to customers goes beyond transactions; it’s about fostering relationships and ensuring their happiness. An example is when an old customer, facing economic challenges, visited to buy a Valentine’s Day gift for his wife diagnosed with cancer. We gifted her real diamond ring, showcasing that, for us, it’s not just about profit but also about our customers’ well-being and the connections we build.
RC: Which are the most popular jewelry items in your shop?
MM: Solitaires and gemstones stand out as our top-selling jewelry items, and solitaires, in particular, have an excellent resale rate. Ensuring our customers never face losses or difficulties is paramount to us. The gemstone business, initiated by my grandfather-in-law, has established us as a reputable brand in the market. Despite our strong reputation, if a customer purchases a gem and returns it even after a month, expressing dissatisfaction, we willingly exchange it. Customer satisfaction remains our primary focus, reinforcing our commitment to ensuring our customers’ contentment above all else.
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RC: What are your aspirations for Chandrika Gems and Diamonds in the next 5 years, and what growth principles guide your vision?
MM: The journey of growth and prosperity has no limits, and our desire is to see Chandrika Gems and Diamonds flourishing to such an extent that we become the first choice whenever someone thinks of buying diamonds. Our focus is not on competition; instead, we aim to nurture our own growth and consistently satisfy our customers. In the next five years, we envision a thriving Chandrika Gems and Diamonds, solidifying our position as a trusted destination for those seeking exquisite diamonds.
RC: How do you envision women connecting with Chandrika?
MM: I firmly believe in the power of direct one-to-one conversations with customers as the most crucial aspect. When customers can see and talk to us without intermediaries, it builds a foundation of trust. To connect with housewives, I initiated live videos on social media, aiming for a more personal interaction. The overwhelming response and subsequent visits to our shop from many of them have been incredibly gratifying.
Transparency and direct communication with customers are paramount in our approach. Our sole focus is to understand and satisfy the diverse needs of our customers, making their connection with Chandrika meaningful and fulfilling.
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