Business Development Role - Retail/Jewellery

Retail Business Development - Jewellery

Confidential : Briefing Document

The role is based in Mumbai and reports to the Head - of Retail.

Business Context and Opportunities :

A global conglomerate, this company is in the League of Fortune 500. Anchored by an extraordinary force of over 140,000 employees of 100 nationalities, the Group is built on a strong foundation of stakeholder value creation. With over seven decades of responsible business practices, our businesses have grown into global powerhouses in a wide range of sectors - metals, pulp and fibre, chemicals, textiles, carbon black, telecom, cement, financial services, fashion retail and renewable energy. Today, over 50% of Group revenues flow from overseas operations that span 36 countries in North and South America, Africa, Asia and Europe.

The Group would like to expand its Retail Footprint and leverage the trust and synergy built over the years in luxury retail by launching a Jewellery Business in India. India's gems and jewellery market contributed around 7% to GDP and 14% to India's total merchandise export in February'21 with a market size was at US$ 78.50 billion in FY21. The jewellery industry in India is largely driven by individual family-owned small to medium size businesses. Thus, the Group anticipates that there is scope for the development of large retailers/brands in the jewellery industry in the near future. The venture will benefit from the retail experience, know-how and trust built over the years with various Luxury Retail Brands. It will also be able to harness the people, technical and operational capabilities of the Group's retail arms. The range will be developed as a proof of concept for an integrated offering and may be diversified with multiple brands post-establishment of a commercially viable business model.

Opportunities :

1. The Jewellery industry in India is largely fragmented with family-owned small businesses contributing to the largest chunk. These businesses are largely skill centric, with customer preference, trust and long-term relationships driving customer acquisition, retention, and sales. The more organized players in the industry have also built their brands on the foundation of trust, rather than a distinctive design. However, they have not been able to acquire a significant market share, at a national level. Thus, the need to build a product offering focused on distinctive design and customization aligned to customer preferences is pronounced. The Company feels that Jewellery is primarily an unorganized market with only one national player. Hence there is a scope for another national player.

2. There is an opportunity to build a technology-enabled design-centric approach to blend into the boutique store-based model. The unorganized players in the industry have been unable to harness the power of technology, collective buying, hedging and continual improvements in design. The synergy in terms of design, processes and technology improvements would bring economies of scale to the business.

3. To use an understanding of the historic/ international/ consumer fashion trends from varied sources and provide direction to the internal team to translate them into the desired products. Value for the business can be driven by constantly observing the business environment and competition and coming up with improvements, and innovations. Develop design leadership and develop an inimitable competitive edge over the competition as we have close relationships with the leading designers in India as well as Globally.

4. Investment of INR 4000 Crores over the next 5 years to set up a Greenfield Venture into a scalable business model. Develop and implement a strategy for a strong foundation for a successful enterprise and a market leader.

Relationships :

Internal : Head - Retail, COO, CEO, Legal

External : External Partners, Commercial Property Dealers

Position Purpose and Summary : The primary responsibility area for this role is to prepare the roll-out road map for the jewellery business.

Essential Duties and Responsibilities :

Strategy :

- Strategic alignment with the business vision: Prepare a rollout road map for the jewellery business.

- Prepare a structured, standard, and scientific method for shortlisting the properties.

Operations Management :

- Study the metro and cities and identify the potential cities and potential locations for year 1 and year 2 of the Jewelry business.

- Frontend the negotiation of contract terms & commercials with owners and work closely with the finance team and legal team for commercials & contract terms and conditions.

- Drive the due diligence for the Properties and ensure that properties are the best fit.

- Work closely with the finance team and prepare a location-specific financial model and get approval from the stakeholders.

- Smooth handover of the Properties to the Projects Team & ensure smooth execution during Project work by coordinating the owner of the property.

- Develop accurate reporting mechanisms for all Business Development programs and maintain the robust database of properties evaluated for future reference.

- Prepare a detailed process of the Franchisee partner and front end of the negotiation.

Critical Competencies for Success :

1. Strong Business Acumen with a drive to achieve and collaborate.

2. An efficient communicator and good at stakeholder management.

3. Good at Negotiation & Influencing.

Person Profile :

1. A successful candidate should have at least 8-12 years of experience in Retail Business Development.

2. A strong background in Retail Business Development in a leading organization.

Educational Qualification : Graduate / Post Graduate.