This week on FEW Members' Corner, we would like to introduce you to Sunaina Chand, Founder and CEO of Vivaz Luxury, who specialises in impeccably crafted certified solitaire diamond engagement rings and a collection of contemporary inspired classic fine diamond jewelry.
Hi Sunaina, can you tell us more about your entrepreneurial journey?
I stepped into the luxury world of diamonds, gems, and jewelry in 2013. My role at the time was in public relations and marketing for various luxury jewelry brands. I had an incredible opportunity to work side by side with a highly experienced team and simultaneously gained a deep understanding of luxury artistry. Eventually, this led to a desire to open my own company, Vivaz, which allows me to focus on my real passion, consulting natural diamond buyers. As time passed on, I have ventured into a fine diamond jewelry line with a team of designers.
What inspired you to start your company?
I realized very early on in my career that diamond buyers found purchasing natural diamonds a challenge. Hence, I decided then to bridge this gap and provide clients with a more transparent service with all the necessary details. However, like any industry, it is a struggle to identify sources of true information. At Vivaz, we are committed to 100% transparency, especially when it comes to a diamond’s cut - which is an integral factor in determining its brilliance, fire and ability to reflect light. The color grade, clarity, and carat weight also contribute to the appeal of a diamond, but it’s the cut and measurements that can ease the budget and sustain value.
So far, what's the most challenging part of your journey?
The most challenging part was finding a team who shared my vision. Once, I found my team, it was easier to focus on building towards where I wanted to reach.
A FEW WORDS OF ADVICE
My fundraising journey started in my previous career through simple saving methods. I encourage everyone who is even toying with the idea to start their own venture, to put away a percentage of their income to make their dreams a reality. I like to call it “inspirational savings” - I continue to do this even after establishing my business as we need to continuously evolve.
On building teams
A quality I value is when one of us falter, we own up to it and collectively and quickly resolve it together. This encourages great teamwork and gets us ahead in our learning journey.
On running business
The biggest lesson I’ve learned is to switch off and control how much noise I let in. The best and most effective learning process for me happens when I’m alone and silent. If I don’t allow myself this time, my creativity and ideas start to suffer.
On building credibility
Trust comes from your energy and confidence. It is also built from the collaborations and partnerships we choose as these directly influence our brand positioning and identity. It is important to consider more than just short-term gains but rather ensure that you work with people who share your greater vision.
On the top things to consider before starting your own business…
Finances - you must have enough for a while without having to depend on your new venture.
Team - People who share your goals.
Time - Be ready to sacrifice you.
My personal success was when I was approached by an award-winning jewelry designer to take charge of their extensions in the Pacific Rim. It was at that moment I knew I was heading in the right direction. I would say that my company's success is represented in the clients that choose to work with us.