WITH EMIL GUZELIS (ZEN DIAMOND), ABOUT COVID-19
How do you evaluate this period we live with Covid-19?
It is necessary to evaluate this period as an opportunity to see the week points t be developed and to increase efficiency. We are always in contact with Zen team. We discuss what we can do to develop our business in online meetings.
Production and international logistics stopped. How do you spend your time under these conditions?
Our production has stopped since 20th of March. Last week, we started production with a small team before Mother’s Day. The team who started production work with healthcare personnel clothes, masks, and protective helmets. Production is carrying out by maintaining social distancing. Under normal conditions, our production tables are for 4 people. We change these orders and created a crossed sitting system with 2 people.Our working hours have been adjusted as 9:00-16:00.
We already don’t think that we will have an intense business in this period that we started production. We will work with new models and technology.
Have you undertaken any initiatives to reduce the impact of this situation caused by COVID-19?
After our physical shops were closed, naturally we focused on our online shop. Besides our stocks of the online shop, we directed the ready stocks of our shops to online with various opportunities.
Our online sales are very strong. Because the trust in our brand has increased by years due to our continuous communication. We are doing an online sale for a long time and we are always developing our infrastructure accordingly. Our online and offline shops are not competitors, on the contrary, they are working in synergy.
No doubt that there won’t be a sale amount as it is under normal conditions. However, it will be an opportunity for companies to have an online infrastructure and strong construct for the future.
What estimates do you have about the jewelry industry after CV-19?
Especially the postponement of weddings has affected the industry much. In Turkey market, diamond solitaire is mainly sold and wedding shopping has an important place. When the shops are opened, shopping will be done but it will be very little. We think that it will decrease by 80% in the first a few months. We aim to achieve 50% by the new year and to reach our turnover as it was before.
How can this situation be transformed into an opportunity?
During this period, the income of 90% of Turkey has decreased. Many people do not have the income as it was. Therefore, consumption and, accordingly, production will decrease. The only way to turn the situation to normal and to revive the economy is long installments and credits.
IT IS ESSENTIAL TO START SHOPPING WITH 36 MONTHS INSTALLMENT FOR CREDIT CARD! THE STATE MUST GRANT THE INCENTIVES REQUIRED BY THE BANKS FOR LONG INSTALLMENTS THAT WILL DEVELOP THE ECONOMY. CREDIT CARD COMMISSIONS SHOULD BE LOW. THE FASTEST WAY TO NORMALIZE THE ECONOMY AND TO ENABLE THE STATE TO COLLECT CONTRIBUTIONS SUCH AS VAT/INCOME TAX IS “36-MONTH INSTALLMENT AND LOW COMMISSION RATES”.