Being the Leading Diamond Manufacturing & Export Company in India – HK’s Journey of Excellence
Posted by Hari Krishna
September 16, 2020
Born as the sons of a farmer in a small village of Gujarat, to becoming a billionaire diamond exporter, the story of pioneers of the Hari Krishna Exports is the classic case of Diamond in the Rough.
About 28 years ago, when the four brothers Savjibhai Dholakia, Ghanshyambhai Dholakia, Himmatbhai Dholakia, Tulsibhai Dholakia followed their passion of starting their own diamond manufacturing company, a little did they know that he was on his way to making history and building an empire that would one day become an example of exceptional business practices
The eldest among all, Savjibhai Dholakia, had a clear vision of starting the endeavor that can enrich their knowledge and add value to the family and the community, and it brought life to the collective dream of all four brothers in the form of Hari Krishna Exports Pvt. Ltd. in the year 1992.
Since then, it has been an incredible journey of HK diamonds. Started with a turnover of US$20,000 in 1992-93 to an exhilarating scale-up with a turnover of US$1.2 Billion in the year 2018-19.
Hari Krishna Exports was established on a solid foundation of Faith, Integrity, Togetherness, Aptitude, Innovation, Transparency, and Commitment to Excellence.
Even the name ‘Hari Krishna’ is inspired by one of Hindu mythology’s most revered Gods – Lord Krishna.
This cardinal principle on which the Group rests is Faith, appropriately reflected in the tagline – Faith is in the Name.
These higher values of the company are Tangibly delivered through Innovation, Technology, Design, and Processes and Intangibly expressed through the traits at an organization like daily prayers and meditation.
The ethos – Diamond with a Heart of HK resonates with all its stakeholders because it is more than just a statement – it comes from the heart and reflects that the company is driven as a family towards a common goal – achieving the highest standard of products, service, and commitment. Let’s see how:
Just like any other business, the beginning of HK was difficult. Yes, as all four brothers were already a part of the diamond manufacturing industry, and had a secure job in their hand when they decided to start their own business. Also, running a business was a whole new ball game.
Despite all the challenges, they just went for it. Following that, their hard work, exceptional skills, know-how, experience, and the sheer favor to excel won the day for the company’s founders.
HK was established as a modest diamond factory in Surat, Gujarat, and simultaneously opened the other office in Mumbai, Maharastra in the year 1992.
HK has started with manufacturing small diamonds of less than 0.18 Cents. But the first year was rewarding as it recorded a business of INR 10 million.
In 1996, HK established Hari Krishna Charitable Trust to share benefits with the community.
International business trips to Israel and Antwerp in the initial years were minor achievements and stepping stones in the building of strongholds in foreign shores.
Although renowned for good business practices and quality products since its inception, Hari Krishna Exports began to make its presence felt when it started participating in international trade shows in 2001.
After getting hands-on crafting high-quality small diamonds, HK upgraded itself with manufacturing diamonds of sizes ranging from 0.18 Cents and 0.96 Cents to above in 2001-02.
Employees at Hari Krishna Exports have been treated with eternal respect since the beginning. In 2002, it shot to the limelight when it presented cars to deserving employees as incentives in a grand celebration in Surat and rightfully christened Hari Krishna Day.
The year 2002 was an exciting year also due to the launch of H. K. Jewels for B2B clients over the length and breadth of India. Its forte lies in its world-class diamond jewellery manufacturing unit, having exceptional talents in the house, incredible designs, and impeccable services.
The year became a turning point as production volume increased, exports doubled, and customer expectations were surpassed. Hari Krishna Exports registered a 300% growth in the financial year 2002-03.
In 2003, HK inaugurated its new and bigger office in Mumbai’s Prasad Chambers to accommodate an increasing workforce.
In the same year, HK Group has organized the first blood donation camp at an organization. Since then, the blood donation drive is held thrice a year in Surat and Mumbai on different occasions.
In 2004, another Mumbai office was inaugurated with a library for employees as a move to encourage them to read and develop a learning organization.
In 2005, two other brands were established by HK Group – H. K. Designs & Kisna Diamond Jewellery. It’s the point where HK fetched its journey from B2B to B2C.
H.K. Designs is a jewellery design and manufacturing company established primarily for global wholesalers and retailers seeking fine diamond jewellery. The H. K. Designs, holds more than 100 utility and design patents under the same roof.
Kisna Diamond Jewellery is a vertically integrated brand to reach the end consumer. Today, it is the largest domestic diamond jewellery brand in India with more than 3,000 outlets across 29 states and 400 cities of India.
Winner of several awards, Kisna boasts of more than 3,000 jewellery designs. Kisna is to India what Tiffany’s is to America – a brand that has truly won a special place in the hearts and minds of Indians.
In 2006, Hari Krishna became the Direct Client of Alrosa.
A singular landmark in the journey of Hari Krishna Exports is, of course, the introduction of the Fair and Fixed Price Policy in 2007. It received appreciation from industry stalwarts all across the globe and facilitated online sales.
In 2008, the state-of-art manufacturing unit – Hari Krishna Campus was inaugurated in Surat.
In 2009 the Kisna Diamond Jewellery manufacturing unit moved to Surat. It was also the year Hari Krishna Exports produced its first big diamond, paving the way for the company to venture into a new segment.
In 2010, Hari Krishna Exports shifted focus to the manufacturing of bigger diamonds of 3 carats and more.
In 2011, HK became an Approved Manufacturer of CanadaMark Certified Diamonds.
In 2012, more feathers were added to HK’s cap, when it became a De Beers Sightholder, Rio Tinto Select Diamantaire, and Certified Member of the Responsible Jewellery Council (RJC). It is the same year when HK opened Unity Jewels in Mumbai.
In 2013, Hari Krishna Exports Mumbai office moved to a sprawling 26,000-sq-feet, modern space in HK Capital at Bandra Kurla Complex. More blessings arrived with Hari Krishna Exports achieving 100% sales growth in 2013-14.
In 2014, HK established its research and development unit – Imperial Jewels, in Mumbai.
In 2015, HK launched the Hari Krishna Exports website with the shortest URL in the diamond industry – hk.co.
In 2017, Hon’ble Prime Minister of India, Shri. Narendra Modi inaugurated our hi-tech diamond manufacturing factory HK Hub in Surat.
In 2018, Hon. PM Of Indian Shri Narendra Modi And Hon. CM Of Maharashtra Shri Devendra Fadnavis Inaugurated HK’s Skill India Incentive Ceremony.
Hari Krishna Exports invests extensively in research and development intending to empower the employees with the latest technology and facilities so they can work comfortably.
Establishing the employee-friendly work environment has helped HK in many ways, including higher productivity (Today we manufacture diamonds of 50 carats plus sizes), increased quality of work, increased sales & customer satisfaction, and many more.
With cutting-edge technology and innovation, HK has developed so many outstanding designs patented under names such as Fusion Diamond, Imperial Diamond, Stella, and Magnificence.
Also, HK is an authorized manufacturer of Christopher Designs and its collections Moments of Love and Line of Love, which enjoys a position of prominence in the international markets.
If we take a closer look at these brands:
My Diamond Story is a private labeled & patented international brand of HK, offering a remarkably unique bridal engagement collection featuring spectacular hand-picked diamonds.
The narrative of each unique diamond from rough to the emergence of the glittering final cut and polished gem is shared with the consumers in a customized passport-sized booklet, outlining the care, skill, and workmanship that go into crafting their diamond.
Line Of Love is a diamond pendant collection representing the bond that holds two hearts together, so it has more meaning than simply a fashion pendant.
Moments Of Love symbolizes life’s beautiful moments that come together and create a story that remains in the memory forever. Each piece of diamond in the jewellery collection represents ‘Moments of Love’ with loved ones and making it a perfect personalized gift.
Magnificence is a brand that is the result of years of research & development and breakthroughs in the diamond jewellery category. It is a unique and patented setting of diamonds, that are sealed into the center of an innovative glass lens, which magnifies its size and beauty. A half-carat stone for instance has the appearance and beauty of one carat.
Though HK has marked remarkable heights of success, it has always maintained an equilibrium between its two identities – a deep-rooted organization of the Indian diamond industry and a fastest-evolving and ever-relevant player in the global arena.
As reciting this journey in 2020, HK feels honored to all the families of employees, customers, stakeholders, partners, and all those who helped us climb the heights of success.
Over the years, HK has grown in size and stature with its presence spanning the globe, yet it leaves no stone unturned to ensure that every facet of the business is cut on trust. After all, it has a name like Hari Krishna to live up to!