Diamond Buyer

Jewellery Sr. Buyer / Manager -Gold

Job Summary: As a Jewellery Buyer, you will be responsible for sourcing, selecting, and purchasing jewellery products. Your role will involve collaborating with suppliers, analysing market trends, negotiating pricing and contracts, and ensuring the availability of a diverse and appealing jewellery collection to meet customer demands and maximize sales.

Key Responsibilities:

1. Supplier Management:
• Identify and establish relationships with reliable and reputable jewellery suppliers, manufacturers, and wholesalers.
• Conduct supplier evaluations, including assessing their product quality, reliability, and ethical practices.
• Negotiate pricing, terms, and contracts with suppliers to ensure competitive pricing and favourable conditions.
2. Market Research and Trend Analysis:
• Stay updated on current jewellery market trends, including popular designs, materials, and styles.
• Analyse consumer preferences, demands, and purchasing patterns to identify opportunities for product assortment improvement.
• Conduct market research to identify emerging trends and potential suppliers to stay ahead of competitors.
3. Product Selection and Assortment Planning:
• Collaborate with suppliers and designers to curate a diverse and appealing jewellery collection that meets customer preferences.
• Evaluate and select jewellery products based on quality, design aesthetics, market demand, and pricing.
• Ensure the assortment includes a range of price points and styles to cater to different customer segments.
4. Pricing and Margin Management:
• Determine pricing strategies that balance profitability with market competitiveness.
• Monitor market trends, analyse pricing structures, and conduct cost analyses to optimize margins.
• Regularly review and adjust pricing based on market dynamics, supplier costs, and customer demands.
5. Inventory Management:
• Monitor and maintain optimal inventory levels to meet customer demands and minimize excess stock.
• Collaborate with inventory control teams to plan stock replenishment and ensure availability of popular items.
• Analyse sales data and product performance to make informed inventory purchasing decisions.
6. Quality Control and Compliance:
• Ensure all purchased jewellery products meet quality standards and comply with industry regulations.
• Conduct quality inspections and coordinate with suppliers to address any quality issues promptly.
• Stay informed about ethical sourcing practices and ensure suppliers adhere to responsible and sustainable practices.
7. Collaboration and Communication:
• Collaborate with marketing and sales teams to align product assortment with promotional activities and marketing campaigns.
• Coordinate with merchandising teams to plan product displays, promotions, and seasonal collections.
• Communicate effectively with internal stakeholders and suppliers to ensure smooth supply chain operations and timely delivery.

Qualifications and Skills:

• Bachelor's degree in fashion technology, Fashion Merchandising, or a related field.
• Proven experience (5-7years) as a Jewellery Buyer or in a similar role within the jewellery industry. ( caratlane, Tanishq ,Bluestone , Reliance etc )
• In-depth knowledge of jewellery materials, designs, manufacturing processes, and market trends.
• Strong negotiation skills and the ability to build and maintain supplier relationships.
• Analytical mindset with the ability to interpret market data and sales trends.
• Excellent communication, presentation, and interpersonal skills.
• Detail-oriented with a keen eye for quality, design aesthetics, and market demands.