By Kavita Iyer 
Gujarat, April 30: Kaushik Kathiriya has spent years doing what most jewellery wholesalers in Surat do building relationships, keeping retailers happy, and making sure the right designs reach the right showrooms at the right time. His company, Shree Hari Ornaments, grew steadily on the back of that trust. Jewellers across Gujarat knew him. They came back. That counted for something.
But trust, as any B2B supplier will tell you, doesn’t always pay the bills on time.
The Approval Model: Convenient for Retailers, Costly for Suppliers
For years, Shree Hari Ornaments operated the way most of the trade does. Jewellers would take stock on approval meaning they’d only pay once the pieces actually sold. On the surface, it sounds fair. In practice, it meant Kathiriya’s business was always waiting. Waiting for stock to move. Waiting for payments. Waiting to know what the month would actually look like.
Revenue wasn’t exactly unpredictable it was worse than that. It was invisible until it arrived. And that’s a hard way to run a company.
Dead stock quietly piled up. Designs that didn’t sell sat in retailer cabinets for months, and the business had little control over what came back or when. The geographic concentration didn’t help either. Surat was home comfortable, familiar but it was also a ceiling.
Bringing in Outside Eyes
Kathiriya didn’t keep struggling in silence. He made a decision that many traditional business owners resist he brought in outside help. The company entered a collaboration with Dr. Vivek Bindra and Bada Business Private Limited,with the focus squarely on fixing the fundamentals: cash flow, inventory, and building a sales system that could actually scale.
It wasn’t about reinventing the business. It was about making it work the way it should have been working all along.
A team of consultants came in, did a proper diagnosis not a surface-level audit, but a real look at where money was getting stuck and why. The bottlenecks weren’t mysterious once someone actually mapped them out. The approval model was the core problem. Everything else flowed from there.
Flipping the Model and Managing the Fallout
The central shift under the Cash Growth Program was straightforward in concept, harder in execution: move retailers from approval-based sourcing to actually owning their inventory. No more holding stock on someone else’s terms indefinitely.
Now, that kind of change can break relationships if it’s handled badly. Retailers are used to comfort. So the company built in a safeguard a three-month return window for unsold stock. It gave jewellers enough of a cushion to accept the new terms without feeling exposed. And it worked. A significant portion of the retailer network came around.
The impact on billing cycles was immediate. Cash flow became something you could actually forecast. That alone changed how the business operated day to day.
Ahmedabad: Getting Out of the Comfort Zone
Surat wasn’t going anywhere, but the business needed more room. The team pushed into Ahmedabad a proper market, competitive, with its own established jeweller networks. A dedicated sales team was put in place, not just a loose outreach effort, but a structured presence.
It opened up new demand channels. More importantly, it proved the model could travel. What worked in Surat could work elsewhere, and that’s the kind of validation a scaling business needs.
Cleaning House on Inventory
Parallel to the market expansion, the team went through the inventory with real rigor. Data was pulled, slow-moving and dead stock was identified not estimated, actually identified and then cleared out. Production got recalibrated around designs that were actually selling, not designs that had always been part of the catalogue out of habit.
Better rotation. Less dead weight. More room to move.
Where the Business Stands Now
The results, by any honest measure, are significant. The business has moved from a model defined by uncertainty to one with real, recurring revenue visibility. Monthly cash flow is now something Kathiriya can plan around. The company is tracking toward nearly 3x growth, and the momentum, by all indications, hasn’t peaked.
Kathiriya put it plainly: “The changes we implemented with the guidance of Bada Business have brought discipline to our systems. Our revenue visibility has improved, and we now operate with far greater clarity on growth.”
That’s not the language of someone reading from a script. That’s someone who’s watched their business change from the inside.
What This Actually Demonstrates
Jewellery wholesale is old-school by nature. Relationships, margins, and credit cycles define it. Disrupting that from within is not easy, and most businesses don’t try they absorb the inefficiency and move on.
What Shree Hari Ornaments did differently was decide that the status quo was costing them more than change would. The operational restructuring, the expansion into Ahmedabad, the hard look at inventory none of it was glamorous. But together, it built something the business didn’t have before: a foundation that could actually hold weight.
That’s what scaling looks like in the real world. Not a sudden breakthrough a series of corrections that compound.
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Former financial consultant turned journalist, reporting on markets, industry trends, and economic policy.
- Kavita Iyer
- Kavita Iyer
- Kavita Iyer
- Kavita Iyer
Arun Upadhayay