“India is a growing and important market for Preciosa”

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Preciosa crystal jewelry
Pavel Fait

Pavel Fait is the Managing Director of Preciosa Fine Jewelry Stones. He has overseen the division since 1999, when the company’s production moved to Jablonné v Podještědí in Czech Republic. Over two decades of its existence, he has led the division to earn a place among the most globally recognised and respected producers within the industry, especially within the field of grinding and polishing. During his visit to Mumbai to launch Alpha – Preciosa’s re-invented round brilliant cut in the Indian market, Jewelpedia caught up with him for an exclusive interview where he sheds light on the growth plans of the company.

Tell us about your impressions on the new Alpha Cut?

Alpha is the newest addition to our Fine Jewelry Stone repertoire. The main inspiration was to create the best round brilliant cut for the global marketplace. The idea behind this new cut was that on one hand, we were working along with Cubic Zirconia like how it acts under the light, and at the same time, we wanted to achieve the perfect ratio between the fire, scintillation, and brilliance. Alpha is engineered to maximise the optical properties and aesthetic appearance specifically of Cubic Zirconia. We have made several improvements in the geometry of the girdle and table so that it can exceed the measurable performance of our previous version called the ‘Star’. Moreover, for the first time, we have introduced a microscopic laser engraved Preciosa logo on each of our Alpha round brilliant cut stones to serve as proof of origin and authenticity.

“Alpha is the newest addition in our Fine Jewelry Stone repertoire. The main inspiration was to create the best round brilliant cut for the global marketplace.”

You have been associated with Preciosa’s Fine Jewelry Stone division since 1999. How has been the company’s growth under your leadership?

Preciosa has changed a lot in these 20 years. First of all, the company has become more competitive in its approach. Earlier the stone market was developing and demand was less but today it is organised and have become more competitive. Because of that, we have taken several steps towards modernisation to become more competitive in the market. And we have achieved this mostly by listening to our customer requirements. Over the years, we have tried to improve our services a lot and with that our ability to provide great customer satisfaction has become a key driving force for the company. We have ensured that the gem cutting techniques developed more than a hundred year ago are kept alive and practiced according to the tradition. While preserving the past, we are also constantly looking towards the future continuously developing new methods and technology –all in-house –that will enhance the process without compromising the quality or personal touch.

What are the factors that make Preciosa’s position in the market unique?

Our competitive advantage is the perfect balance of centuries-old heritage and state-of-the-art technology; this, and the people that develop and put these techniques and machines into practice. One-hundred per cent of Preciosa’s fine jewellery stones production takes place in Jablonné v Podještědí, a small North Bohemian village of about 3,600 inhabitants near the Czech-German-Polish border. Much of my division’s 200-person workforce is comprised of locals and Preciosa benefits heavily from their know-how, loyalty to the industry, and sense of pride in the region. Our competitors could release a new, ground-breaking innovation at any moment, so rather than rely on external factors we prefer to take a more active approach by developing our solutions that will ultimately expedite the process of providing our customers with exactly what they want. We do this not only to stay competitive but also for the pride and satisfaction of knowing that we can.

“Our competitive advantage is the perfect balance of centuries-old heritage and state-of-the-art technology; this, and the people that develop and put these techniques and machines into practice.”

How important India is for Preciosa? How well the brand is positioned in India? 

India is a growing and important market for Preciosa, especially for our fine jewellery components. Today, 40 per cent of our revenue comes from India. That is why we want to keep developing the market here. We are open to finding more customers and we definitely want to increase our presence in India and look out for potential areas and grow it further.

“India is a growing and important market for Preciosa, especially for our fine jewellery components. Today, 40 per cent of our revenue comes from India.”

Kindly shed light on product categories and best sellers from Preciosa Fine Jewelry Stone division?

Our portfolio includes cubic zirconia and nano gems as well as a curated assortment of synthetic and genuine gemstones. Preciosa’s Fine Jewelry Stones division recently introduced the smallest cubic zirconia jewellery stone in the world – 0.5 millimeters – with 31 facets. Also unique in our portfolio, which no one else is offering, is the world’s first and only two coatings suitable for lost-wax casting.

What are your top priorities at the moment?

We are working with two approaches. The first one is that we are looking forward to add value to our production and service. In terms of service, the focus is on customisation and effectively responding to the unique needs of the clients in a fast and systematic manner. Also, for the production part, we want to develop new products for the customers and maintain exclusivity in the market. Secondly, in terms of marketing, it is the change in communication that we are focusing on. Especially through the online, digital and social media engagements. Moreover, we are doing collaborations with renowned designers to strengthen our communication with the end consumers. All in all, we are taking innovative steps and nurturing fresh ideas on a global scale.

What else you have in store for the brand globally?
In terms of products, we are improving the polishing and the quality of the stones. Booth are crucial for the market. So, we will keep working and improving these two aspects. Also, we would continue to innovate and come up with new products. We are planning to launch new colours by January next year. Another thing that we would like to tap is to increase our presence in the emerging markets and reach out to the millennial buyers. For so long, we were catering to more traditional customers and now we are focusing on the young population in different markets.

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