Another British Asian success story?
The British Empire is the biggest in history and the part which was called “The Jewel in the Crown” of the Empire, was India.
The Taj Mahal, the most famous symbol of India.
The British Crown Jewels, India was called the “ jewel in the crown” of the British Empire.
Now there is a new company which is seeking to increase the sales of South Asian and Indian jewellery here in the United Kingdom, called Rise Kreation. I spoke to the director of this, what I believe is a very exciting and in the future probably very successful, company earlier this week, Rachanaa. Our meeting took place in London’s Canary wharf area, one of the commercial centres of the UK and Europe.
British Asians number over 2 million, which is in business terms a very big number and represents a huge potential source of revenue and income for any company. However not only is this community significant in size it also has a lot of wealthy family and individuals. The richest man in the entire United Kingdom is actually of Indian origin himself, Lakshmi Mittal.
Lakshmi Mittal, the richest man in the United Kingdom, richer than the royal family, a billionaire, worth £17 billion.
4 of the London Time’s list of the 20 richest people in Britain are South Asians including the Hinduja brothers, (estimated worth £9 billion), Ravia Rua, (worth £4 billion) and Anil Agarwal (estimated worth £3.8 billion).
So the community contains families with money. However in addition to money, family values are important including marriage. Rachanaa said to me that the average South Asian family wedding in the UK costs about £30,000 pounds, which is what a BBC report from 4 years ago stated; http://news.bbc.co.uk/1/hi/uk/6942684.stm. However Racchana does not want Rise Kreation to cater for an exclusively South Asian market. Mentioning her admiration of London to me she said “One of the truly wonderful things about this city and which appeals to me is its amazingly cosmopolitan nature, with people of all races, nationalities and backgrounds living together. For instance you can find cuisine from every part of the world including French, Italian, Indian, Chinese, Arab, Thai, South American, Eastern European, African, Arab restaurants. In a house in London, you can find someone sitting on Swedish Ikea furniture, watching a Japanese made television, eating an Indian curry or Turkish kebab. Just as Ikea havemade it clear that what was originally Swedish furniture is not just for Swedes, so Indian jewellery is not only just for South Asians to wear but for everyone. I think it has the added value of looking great, blending well with traditional western dresses by also giving a somewhat “exotic” look.”
A British Asian bride with her white British groom wearing traditional Indian clothes.
Liz Hurley wearing Indian clothes and jewellery.
I personally believe that what Rachanaa said makes sense. Here in the UK and through out the world people buy clothes made by Italian companies such as Armani, or a Spanish company such as Zara.
Zara, a Spanish company with stores all over the world including London.
In addition British people consume billions of pounds worth of curry each year to the point that major national British supermarkets such as Sainsbury and Tesco stock curry and other South Asian items for customers. Rachanaa adds, “if you look at South Asian women who have been raised here in Britain, they naturally wear western clothes and jewellery rather than sticking to their own traditional clothes, so on the other side local English people are also very open-minded and will try whatever looks good.”
Rachanaa believes that her products are different “The beauty of our products is that they are recession proof, because they are made using 1 gram gold. They have the same aesthetic appearance of 22 carat gold but at the fraction of the price.” When asked why shoppers would chose to buy products from her company rather than others she states “Well, we have a one year manufacturer’s warranty, that if anything goes wrong we will repair our customers jewellery, this is something which other companies do not have. This is a legal commitment by us to care for our customers to provide the best service possible and helps to give them peace of mind and ease”.
Rise Kreation are on the verge of opening up their first show room in London, so will be transferring from being an online entity to having a physical presence at such an early stage of the company’s existence. Racchana is currently looking for investment. However I feel that with the rate with which they are developing their company it is only a question of who the first potential investor is, who will be the first lucky person to strike a deal with what may become another British Asian success story. These success stories include Aamir Ahmed, the founder of Dwell furniture. Ahmed is a British Asian who founded the Dwell furniture company which is now growing quickly and is a multi-million pound business.
Dwell UK, successful furniture company.
Aamir Ahmed, founder of Dwell.
So with the wealth existent in the British South Asian community, the money spent on jewellery including weddings, the rise of the economy back in India itself with its own gigantic consumer market of 1 billion, and the potential for Rise Kreation to start making South Asian jewellery something which is bought by a wider more mainstream market, I feel that the company has a great chance of doing very well in the British jewellery industry which is worth billions and billions of pounds every year. At this point in time the company is constructing a business plan, and is negotiating various deals, and will start to look for potential investors and then select which one is the best for them.
Rachanaa and the company’s contact details are:
Rise Kreation Limited
To like on Facebook: http://www.facebook.com/pages/Rise-Kreation-Limited/197152973692139
– Jahan Choudhry
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