Aaradhya Khanna Spearheading Gem Selections into the Future of Gemstones and Astrology

Gemstones, long associated with healing and spiritual properties, have captivated cultures worldwide. In astrology, each planet aligns with a different gemstone, and many people believe in the energy and therapeutic benefits of these precious stones. Recognizing the immense potential of India’s gem and gemstone market, Pankaj Khanna founded Gem Selections in 1987. The legacy now continues with his son, Aaradhya Khanna, at the helm. Pankaj Khanna, the founder and managing director of Gem Selections, initially ventured into the world of gemstones as a sole proprietor. He purchased raw gemstones from mines through intermediaries, overseeing their transformation into exquisite, polished gems. These gemstones found their way into the collections of jewellers across the Indian subcontinent.

In 1997, Pankaj Khanna and his wife, Anu Khanna, expanded their operations by opening a wholesale and retail outlet for gemstones in Janakpuri, New Delhi. However, their journey was not just about commerce but also a deep belief in the healing properties of gemstones, stemming from Pankaj’s background as an acclaimed astrologer.

Direct Imports and Diverse Offerings:

One pivotal shift occurred in 1997 when Pankaj Khanna decided to import gemstones directly. Aaradhya Khanna, his son, explains that they shifted from procuring rough gemstones from Jaipur and Sri Lanka to importing stones directly from various countries. In 1999, they established a manufacturing unit in Khambat, Gujarat, for the export of finished gemstones. Gemstones exhibit three key properties: clarity, lustre, and colour, which determine their value. The industry is known for its lack of organization and price volatility. Aaradhya underscores the potential for India to extract gemstones like ruby more extensively but points to unfavourable policies and schemes as obstacles.

Diversified Offerings and Global Reach:

Today, Gem Selections is a multifaceted business, dealing in retail, wholesale, and export of gemstones, diamonds, jewellery, handicrafts, rudraksha (a seed traditionally used as a prayer bead), yantras (geometric symbols used in meditation), bullion, and related products. Their gemstone imports encompass yellow sapphires from Sri Lanka, blue sapphires from Africa, emeralds from Brazil, and many others, with prices ranging from Rs 7,000 to several crores.

The company’s impact extends across 324 dealers worldwide, achieving a remarkable turnover of Rs 107 crore without external funding. Their commitment to quality is evident in the certification of all gemstones and gemstone jewelry by government laboratories.

Gem Selections supplies over 400 astrologers and jewellers worldwide, offering “White Label Products” that buyers can market under their own brand names. Their presence extends to well-known brands like Times Internet Limited-Astrospeak, Rediff, Indiainfo, and Homeshop18. In 2018, Gem Selections introduced the Gem Selections app, Gem Selections Astro Dose, and Gem Selections LIVE, enhancing their customer engagement. They also ventured into the bullion business and collaborated with banks and non-banking financial companies (NBFCs) to offer gemstones on credit, filling a gap in the market.

Managing high-value products remotely and ensuring quality in gem pricing have been significant challenges. Aaradhya points out that maintaining an inventory of Rs 65 crore poses its own set of challenges, as it doesn’t factor into the annual turnover. Looking ahead, Gem Selections plans to expand its online presence, targeting over 10 million monthly visitors across all digital properties by the end of 2021. They also have ambitious retail expansion plans, aiming to establish 25 stores throughout India by 2025. The company is set to open stores in Le Meridian, New Delhi, in October and another in Ramada, Udaipur, in December.

Aaradhya Khanna’s journey continues his father’s legacy of bringing the healing and spiritual power of gemstones to a global audience while evolving the business into new horizons, blending tradition with technology for a brighter future.