A spectrum of colour: Byrex Gems takes customer-centric approach to drive growth

by carly_midgley | November 1, 2017 11:08 am

By Emily Smibert

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Since its founding in 1988, Byrex Gems has become a company synonymous with coloured gemstones in the Canadian jewellery industry.

The brainchild of Sampat Poddar, the company was started after Poddar left his New York job as a finance professor at Pace University.

Growing up in Jaipur, India, a major gem trade hub, Poddar always felt a strong connection to the industry. Indeed, his extended family operated a gem business in New York.

“I was always aware of gemstones and in the back of my mind, I knew I wanted to get into industry,” says Poddar. “It was a perfect fit for me, working during the day with my family and teaching in the evening. I got the basic skills of the trade, finished my two-year contract at the university, and moved back to Toronto where Byrex Gems was incorporated.”

The company was founded with a mission to provide a one-stop shopping experience for jewellery manufacturers, retailers, and designers from across the country, handling their coloured gemstone needs. Even its name stems from it: “There are three primary colours—blue, yellow, red—and, ‘rex’ in Latin means king or supreme,” says Poddar. “Quite literally our name means supreme in blue, yellow, and red. It’s homage to our specialization in coloured gemstones.”

Stepping stones

Like many other operations, Byrex Gems first started by exhibiting at various trade shows across Canada, the U.S., Thailand, and Hong Kong, making connections with overseas suppliers and customers in jewellery manufacturing and Canadian retail jewellers.

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Poddar and his team also visited different colleges and universities, and met with professors who were in the business and teaching students who were enrolled in jewellery manufacturing classes. In doing so, they were able to help students by providing gemstones and introduce them to the brand.

Over time,  Byrex Gems’ client base and reputation began to grow. “Today, I can say we are one of the largest gemstone suppliers in Canada with a fairly large customer base easily serving over 4000,” says Poddar. The company focuses on jewellery manufacturing houses and other  jewellers and designers where a person can have a custom-design piece made or repaired.

The Byrex difference

In his 29 years in the industry, Poddar has served on various boards including the International Colored Gemstone Association (ICA), Canadian Jewellers Association (CJA), and American Gem Trade Association (AGTA), and has created a vast international network with a specific expertise in sourcing both rare and exotic gemstones.

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Byrex Gems has facilities in India and a close network with suppliers in other major trade centres in Hong Kong and the U.S. Thanks to technology, maintaining these relationships and following through on customer orders is easier than ever.

“We don’t look at the value of an order; we look at how best we can serve the customer. We could be ordering a stone worth $100 today and tomorrow a stone worth $100,000, but any order is taken as seriously as the next.”

With its network, Byrex Gems prides itself on efficiency.  “We have access to the rarest of the stones. When it comes to sourcing a specific gemstone for a client, like an insurance claim or any other unique demand, we are known for being efficient and professional,” Poddar says.

Indeed, Byrex Gems only works with well-established industry members with a proven track record. Most suppliers are dealers who have been in the industry for generations and have a significant presence in the industry. When it comes to credibility, especially in the jewellery sector, ethics and reputation are everything.

“We recognize the value of transparency, integrity, and trust in our own business. They mean everything to us,” says Poddar. “We rely primarily on Gemological Institute of America (GIA) reports and other established labs’ reports.”

In addition, Byrex also employs in-house gemmologists who evaluate stones and make sure they agree with what the various reports say.

Staying innovative

According to Poddar, when looking at a gemstone, the stone’s brilliance is one of the most important factors to be considered. As a gemstone supplier, the company is always researching new designs and faceting methods to create a more brilliant stone. “This is how we heard about concave faceting,” explains Poddar.

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If a stone has concave faceting, hundreds of small facets have been cut into the stone side by side to create a concave shape. “We subcontracted to undertake research in developing new faceting patterns in stones in India and Hong Kong. Our new cut, the trademarked Optix cut, was the result of this experiment,” says Poddar. “We are probably the only company supplying the concave cut, under our brand name, Optix, in mass production.”

One of the company’s secrets to success has been its ability to adapt to the industry’s changing needs.  More importantly, Byrex Gems has been able to see these changes, whether it’s introducing an online catalogue or an incoming trend, ahead of time and “meet the forthcoming demands before everybody else can catch up” says Poddar.

At the end of the day, the company’s success was built on Poddar’s belief in honesty, trust, and commitment. “We are professionals, we’re fair, and ethical. This has allowed us to continue to grow our business.”

Source URL: https://www.jewellerybusiness.com/features/spectrum-colour-byrex-gems-takes-customer-centric-approach-drive-growth/

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