Chandukaka Saraf, Maharashtra-based jewellery retailer, is marking 200 years in business with plans to expand its retail network, invest in technology and adapt to changing consumer preferences.
The company plans to add five to seven stores during the current calendar year as it looks to strengthen its presence in existing and new markets.
The expansion comes as jewellery consumption in India evolves beyond traditional wedding and festival purchases. Consumers are increasingly buying jewellery to mark personal milestones such as first salaries, career achievements, birthdays and anniversaries.
While gold continues to hold strong emotional and traditional value, younger buyers are showing greater interest in diamonds, gemstones, silver and lightweight jewellery for both everyday use and special occasions.
Balancing legacy with expansion
The company’s 200-year milestone comes as it prepares for its next phase of growth under Chairman Kishorkumar Jindatta Shah and Managing Director Samyak Kishorkumar Shah.
With plans to add five to seven stores this year, Chandukaka Saraf is seeking to combine its traditional customer base and heritage with contemporary designs, technology and evolving purchasing habits.
For Chairman Kishorkumar Shah, the anniversary represents not just the survival of a family-run business across two centuries, but also the responsibility of preserving the confidence built with generations of customers.
As jewellery consumption shifts towards a wider range of occasions, products and designs, Chandukaka Saraf’s expansion strategy will focus on maintaining its traditional strengths while adapting to the expectations of a younger and increasingly diverse customer base.
Tradition meets changing consumer preferences
Chandukaka Saraf said the shift in buying behaviour is also influencing jewellery design. Traditional motifs and craftsmanship are increasingly being adapted into contemporary designs that appeal to customers seeking a balance between heritage and modern lifestyles.
“Our responsibility is to nurture and cherish both tradition and modernity. Our role is to understand and serve both, while continuously evolving without compromising the trust that defines Chandukaka Saraf,” said Samyak Kishorkumar Shah, Managing Director, Chandukaka Saraf.
Technology focus
Technology has also played a role in the company’s approach to customer assurance.
Chandukaka Saraf introduced its own hallmark to signify its focus on gold purity and authenticity before hallmarking became a formal industry standard. The company was also among the early jewellery retailers to introduce Karatmeters at its stores, allowing customers to check gold purity using technology.
The retailer said its technology-led approach is aimed at strengthening transparency and customer confidence while retaining the trust built over generations.
From Baramati roots to a growing retail network
Founded in Baramati in 1827, the family-run jeweller has grown from a local business into a retailer with 19 stores across Maharashtra and Karnataka and more than 1,000 employees.
The business has evolved across several generations of the Shah family. Late Bhaichandji Shah established the foundation of the company around principles of purity and quality. Late Jyotichandji Shah and Late Chandulalji Shah subsequently strengthened customer relationships and expanded the business.
Late Jindattaji Chandulal Shah further contributed to business expansion, employee welfare and the adoption of ethical practices.