According to Jack Welch, the ex-chairman and CEO of General Electric, “Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.” It seems like he said so keeping Adgaonkar Sarafin mind. This family has been making ornaments for Nashikites for more than eight decades.
Established in 1930, Narayan Adgaonkar and his son Eknath Adgaonkar started the legacy with a small shop in Saraf Bazaar. This father-son duo had a vision of giving India the jewellery that it deserved, embracing the uncompromising craftsmanship and unmatched quality. It was one of the first jewellery brand in Nashik and was well-liked by the citizens. It won’t be a hyperbole to say that since the time of its first generation, Adgaonkar Sarafhave been one of the forerunning jewellery brand in Nashik. Known as a self-made man, Eknath Adgaonkar heavily suffered from Gold Control Act. However, thanks to his acute business acumen, he survived the atrocious act. Moreover, he profited in it. With hard work, quality service, and transparency in business, he successfully established a strong bond with his clients.
“My great grandfather Eknath Adgaonkar handed down the business to my grandfather Shashikant Adgaonkar who was firm believer of his father’s business mantras. He used to frequently visit the Mumbai jeweller market and had an eye fordexterity. On his frequent visits, he explained the intricate designs that the local artisans used to carve for him. This helped him excel,” shared Mahesh Adgaonkar, the owner of Adgaonkar Saraf Pvt Ltd.
By 1990, Shashikant Adgaonkar’s sons Ram and Sham Adgaonkar, started working with him and they completely revamped the retail jewellery shopping experience for Nashikites. They established the first fully air conditioned and well-furnished jewellery showroom. After being successful in their first attempt of showroom, they undertook its expansion to thrice its size. Soon, Adgaonkar Saraf was established as a private limited company. This helped them in creating a strong bond with their customers.
Today, Mahesh Adgaonkar handles the business. However, before taking this leap, he had to undergo training and experience from the grass-root level. Mahesh has proved its mettle by transforming the business and taking it to next level. He has improvised the business model in sync with upgradation and innovation in retail jewellery sector. Like his forefathers, Mahesh also believes in the principles of business set by his great grandfather. “The principles include hard work, transparency and innovation, something that my grandfather, my father and my uncle always worked on. If they have succeeded, then these principles are perfect for our business and stands the test of time,” explains Mahesh.
Ask him about his secret to success and he says, “Business runs in the partnership with the customers. Give the best price to the customers for the best product and he would never leave you. Even at marginal profits, customers mustn’t be cheated.” Mahesh claims that he was inspired and encouraged by his competitors to excel. Thanks to this attitude, Adgaonkar Saraf Pvt Ltd has spread its wings with five branches in Nashik – Saraf Bazaar, Cidco, Canada Corner, Ghoti and Malegaon where they deal with ornaments made of Platinum, diamond, gold, silver, semi-precious stones, etc.
Keeping the social responsibility in mind, under the CSR activities, Adgaonkar Saraf Pvt Ltd undertook projects like building homes for flood victims, blood donation camps, providing financial aid for emigrants to return home, etc.
At Adgaonkar Saraf Pvt Ltd, the staff is looked up as a family and is treated accordingly. “Business is a team effort and should be looked up as same. This helps in bringing all the energies together to work for the business growth,” thinks Mahesh.
Recently, the Adgaonkars diversified his business with a venture in textiles under the brand Adgaonkar silk and sarees.This brand too, like its umbrella brand, is well-liked and popular amongst the citizens.