Ratanlal C Bafna who did his primary education in Rajasthan, came to Maharashtra and started their first jewellery store in Jalgaon, Maharashtra in 1974. Known for his principles, he was felicitated with Jamnalal Bajaj Award for Fair Business Practices in 1995. 

Bafna Jewellers have their presence in various cities. Their new store in Pune was launched recently. We chat up Sidharth Bafna to know more about it
Excerpts
In Pune, where city-based jewellers such as Ranka, PNG and even pan-India brands like Joyalukkas, TBZ, Kalyan Jewellers and so on, have established themselves, how do you plan on making your brand presence felt?
In today’s market, the only way to differentiate yourself from other established and emerging jewellers, is by offering variety, and affordability with it, like a package deal. At Ratanlal C Bafna, with our legacy spanning decades, and the loyalty established with consumers across the state, we are surely at par with these established jewellers, and can proudly say that we provide quality, variety and value-for-money, all under one roof. Our offerings cater to customers across demographics and psychographics. 

What is your USP, something that sets you apart from other jewellery brands?
To begin with, our way of calculating 22K gold prices is always fair and transparent. That is one of our biggest USPs, as we are the only jewellery house in the country to follow this fair pricing practice consistently. This also makes our rates the lowest in the market, at all our stores. 
Moreover, we are known to be a one-stop-shop for jewellery that caters to every occasion, event, taste and preference. As a family-run business, which had humble beginnings, we ensure that when a customer walks into our store, irrespective of their purchase rate or volume, we provide them with a special and memorable shopping experience. 

Tell us about your latest festive collection across categories -- gold, diamond, and antique jewellery. What are the motifs and designs inspired by?
We have quite a few new collections in our store but to highlight, I would mention two of them — Kanika Diamond Collection, which is inspired by the colours of nature and Swarovski Collection, which is a fusion of gold, traditional kundan work and Swarovski crystals. For the festive season, we have included diverse stone colours even in our broader jewellery offerings. We have also used opals, emeralds, rusted rubies and other premium stones that are outsourced for our versatile offerings this year. 

Tell us about the free insurance scheme for jewellery owners. How is it applicable, what are the benefits, terms and conditions?
Our free insurance scheme is also one of our USPs, and a major reason for our customers to trust us for several years now. We have pioneered this exclusive initiative to provide security and relief to jewellery owners at no additional cost, along with a hassle-free purchase experience. Add to that the fact that it can be availed on any purchase and at any of our stores. The highlights include — safeguarding of precious jewellery, a seamless claiming process, pan-India availability of the insurance, and the option of families utilising the jewellery, also covered under the scheme. While this insurance is limited for a period of one year, customers can choose to renew it online. The response to this initiative has been phenomenal and this has helped us to be in the shortlist of many new customers.

What is your understanding of your target customer base in the city? What kind of jewellery do Puneites prefer to invest in and wear?
This generally depends on the type of customer and the specific occasion or festival. However, with respect to adorning jewellery on a daily basis, the locals prefer durable/long-lasting jewellery. For those who wish to purchase jewellery ahead of a wedding or any grand function, preferences include gold bars for gifting, traditional polkis jewellery and designer jewellery for Bridal. We also have 24-Karat jewellery which serves the purpose of long-term savings cum jewellery use option. So while the type is subjective, lightweight jewellery, that is durable for daily use, is generally preferred by the denizens of the city. 

Which new trends will be popular during Diwali?
The only jewellery purchase trend we have observed with regard to festivals like Dussera and Diwali, is that customers prefer shopping for it on the day of the festival, as it is considered to be auspicious. Moreover, they prefer buying daily-wear jewellery like necklaces, rings, earrings during these festivities.