MANAGEMENT MANTRA

“Gain Your Client’s Trust”: Sanjay Kothari, Vice-Chairman, KGK Group

Sanjay Kothari may have been born in a flourishing family business of gems and jewellery. But that did not exempt him from the business the hard way. His father sent him to work in other firms and learn the tricks of the trade from scratch.

That basic grounding has helped Mr Kothari, the vice-chairman of the Hong Kong-based KGK Group, to expand his family business to newer territories. In the over 30 years of his business life, Mr Kothari has transformed the century-old KGK Group from mining to manufacturing and from marketing to distribution. Mr Kothari – who admires art and loves listening to music – has also diversified his business by venturing into new gemstones, diamonds and jewellery and also made foray into retail and real estate.

With over 12,000 employees, the KGK Group has also made some notable international acquisitions. The group today has four international brands – Martin Flyer, Gregg Ruth, Judith Ripka and Kiros – under its wings. Mr Kothari, a renowned name in the world of gems and jewels, is an Honorary Life President of Hong Kong Gemstone Manufactures’ Association. Sharmila Chand chats up with Mr Kothari and is left impressed by his management principles and practices.

 

Your five management mantras

Create a network of support: A strong network ensures that we are surrounded by people who can help us grow and sharpen our skills. It plays a significant role in tackling challenging tasks and aligning a robust strategy for prospects. Major successful expansions are also a result of strong networks that hold things together. 

Appreciate work: Most organisations often overlook the work done by their teams at different levels. It is necessary to acknowledge and appreciate the work done by each and everyone from time to time to encourage more productivity and innovation.

Good governance: Ensure that the management at the top of the hierarchy is neutral and listens well to ensure smooth operation.

Equal opportunity: When the management is unbiased, it gives a space for everyone to grow. It is important to provide equal opportunities to every employee to challenge them to explore their potential hidden skills. This keeps them motivated and expands their horizons.

Good CSR: We all should make sure that we cause as little damage to the environment as possible to conserve our resources. Mother Nature should never be harmed directly or indirectly by your goods. We have to take the responsibility of giving back to the community and nature, which constantly help us in achieving our goals.

 

Turning point in your career life

Despite being born in the lap of luxury, I lived my life with equanimity and courage. Despite having a huge in-house business, I was sent for training in another diamond firm, where I learnt from scratch when I started my career. I was treated like any other worker. We would start the day with daily chores and would finish late. Those were the growing days of this business, and everyone had a training centre. We have one in our company too. I learnt the basics of the business and the processes and then came back to my own company. Since then, there is no looking back.

 

Secret to your success

I am passionate about what I do. I give huge credit for where I have reached today to my father, who was a constant guide, and I have earned this position by constantly working hard over the years. I was always keen on exploring creativity and innovating with new technology. I take immense pride to imbibe our ethics of professionalism and management into the group and its functioning. This has played a key role in revamping the IT and corporate identity of the KGK Group.

 

A person you admire

My Father, Navrattan Kothari, is an inspiration for many, and I am no exception. He gave us an upbringing that was privileged not just in wealth but in values and depth of life. He taught us to stand by principles in true sense.

 

Best advice you got

When I joined the business, my father’s name had a hold in the industry; every move of ours was umpired. We were in our father’s shadow. That is when he anticipated our nervousness and gave us advice that changed our business outlook. He said: “You can break open the egg, if you have power. Don’t worry about the mistakes as achievements overcome failures. That is the beauty of being successful.”

 

Your favourite books

I believe that every book and every author gives us something unique to linger upon. However, The People’s Tycoon by Steven Watts is my most read book. This book pushed me to look at innovations from a different perspective and taught me a lot about leadership. The story centres on the life of Sir Henry Ford, the Ford Motor Company’s founder. The story of a Michigan farm boy becoming America’s richest man is inspirational and nearly unbelievable.

 

Your five business mantras

Understand your speciality and audience: I believe that before establishing any business, you should have a good understanding of the market to which you want to cater. You must be able to compute and understand all the needs of your clients.

Raise brand awareness: Establishing strong market presence requires acknowledging your brand’s necessity and value in society.

Innovation: Never keep to one style. Change is the law of society. All you have to do is come up with a fresh concept for your business to stand out in the market.

Product quality: When it comes to making a statement about your company, the quality of your product is very important. The highest quality is related to the finest business remarks in society.

Gain your client’s trust: In any business, it is very crucial to build trust between you and your client. During the pandemic, everyone went into a financial crisis, but the key role was played by how your relationship was with the clients. They stayed together as there was a trust factor with the brand, and the servicing was up to the mark.

 

Your message on management to youngsters

You might find it hard to crack initially, but perseverance is the key. The beginning is not always the hardest part, sustaining the growth is. Innovate and upskill as often as you can. Understand your team, your values and your vision. The upcoming generation has all the access to learning something new every day. Make sure to use this wisely. You will be unstoppable once you realise your strengths and work accordingly.

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