P. N. Gadgil Jewellers

Purshottam Narayan Gadgil Jewellers is an Indian jewellery company. Established in 1832 by Ganesh Gadgil, the company operated in two branches, with P. N. Gadgil & Sons in Sangli, and P. N. Gadgil & Company in Pune, until the branches' legal separation in 2012. One of the oldest jewellery companies in India, the company is known for producing jewellery specific to the region of Maharashtra.[1][2]

P. N. Gadgil Jewellers
TypePrivate
IndustryJewellery
FoundedNovember 29, 1832 (1832-11-29)
FounderGanesh Gadgil
Divisions
  • P. N. Gadgil & Sons (est. 1832 in Sangli)
  • P. N. Gadgil & Company (est. 1958 in Pune)

History

The company was established as Gadgil Jewellers (Marathi: गाडगीळ सराफ) in Sangli on November 29, 1832, by Ganesh Gadgil. Lacking a store, the business was initially run on the pavement of a busy thoroughfare in the city.[3][4] After the birth of Gadgil's sons, he renamed the company Gadgil Jewellers & Sons.[5] Gadgil moved the business to a wada he purchased in Sangli in 1860.[6] Under Gadgil's father, the family had previously served as savakars to the Kolhatkar and Modak families of the Princely state of Sangli, and were thus accorded the office of royal jeweller to the Patwardhan kings of the State after the establishment of their jewellery business.[7]

Gadgil initially intended all three of his sons to succeed him in the business, but after his eldest son Ramchandra became a moneylender and dairy propreitor, and his youngest son Gopal became a lawyer and went on to set up a clothing store, the business was continued by his middle son Narayan and his descendants.[8] After the birth of his eldest grandson Purshottam in 1874, Gadgil changed the name of the company to P. N. Gadgil Jewellers & Sons, believing that his grandson's name (Purshottam) would bring the business good luck.[9][4]

After Gadgil's death in 1890, the company was managed by his son Narayan Gadgil and Narayan's three sons. After Narayan Gadgil's death in 1920, the company was managed by Purshottam and his younger brothers Ganesh Gadgil II and Vasudev Gadgil. After Purshottam's death in 1954, the company's management was inherited by his younger brothers and their sons. In 1958, Anant Gadgil, a younger son of Ganesh Gadgil II, set up a branch of the company in Pune under the name P. N. Gadgil Jewellers & Company.[10][11]

After 1958, the two branches of the company continued to function under the same brand. Anant Gadgil and his family managed the business in Pune, where as Anant's uncle Vasudev and his sons managed the company in Sangli.[12] After Vasudev Gadgil's death in 1965, the Sangli branch of the company was inherited by his four sons.[13] The two branches were formally separated in 2012, with the Pune branch operating as P. N. Gadgil & Company[14] and the Sangli branch continuing to operate as P. N. Gadgil & Sons.[15]

Anant Gadgil died in 2014, and the Pune branch of the company was inherited by his son and grandson.[16][17] Since 2015, the Pune branch of the company has expanded operations using a franchising model across various cities in Maharashtra,[18] and in the United States, and the United Arab Emirates,[19][20] The Pune branch has also become associated with several Bollywood celebrities, being endorsed by Salman Khan and Madhuri Dixit.[21] They have also provided jewellery to several Bollywood productions, most notably Bajrangi Bhaijan and Bajirao Mastani.[22] The branch attracted controversy after being duped by potential franchise partners in January 2021.[23]

After Vasudev Gadgil's death in 1965, the Sangli branch was run by his sons Lakshman and Vishwanath Gadgil until their own deaths in 1984 and 1978, respectively.[13] In 2018, the branch planned to file for an IPO,[24] and was the victim of cybercrime in 2019.[25] As of 2021, the Sangli branch was managed by Vishwanath's son Govind Gadgil.[26][15]

References
  1. Association for Contemporary Jewellery (18 November 2007). Jewellers Directory. A&C Black. ISBN 978-0-7136-8409-4. P. N. Gadgil Jewellers
  2. Sabyasachi, Dasgupta; Priya, Grover (20 July 2018). Optimizing Millennial Consumer Engagement With Mood Analysis. IGI Global. p. 195. ISBN 978-1-5225-5691-6.
  3. Joshi, P. K. (1989). Gadgil Kulavruttanta [The Gadgil Family Genealogy Almanac] (in Marathi). Pune. p. 93.
  4. Deshpande, Renuka (11 September 2011). "Gadgil Jewellers 179-year-old journey from footpath to international showrooms". DNA.
  5. Joshi (1989), pp. 95, 99.
  6. Joshi (1989), p. 93.
  7. Joshi (1989), pp. 93, 95.
  8. Joshi (1989), pp. 93, 95, 99.
  9. Joshi (1989), pp. 95.
  10. Joshi (1989), pp. 95–97.
  11. Bhargava, Gopal K.; Bhatt, S. C. (2006). Land and People of Indian States and Union Territories: In 36 Volumes. Maharashtra. Gyan Publishing House. p. 336. ISBN 978-81-7835-372-2. P. N. Gadgil and Company - Licence and Address
  12. Joshi (1989), pp. 96–99.
  13. Joshi (1989), pp. 98.
  14. Bulletin of the Institution of Engineers (India). University of Illinois at Urbana-Champaign: Institution of Engineers (India). 1979. p. 13. P N Gadgil & Co, Jewellers of Poona
  15. "PNG & Sons: A gem among luxury jewellers". The Economic Times. February 26, 2021.
  16. "P N Gadgil Jewellers founder 'Dajikaka' dead". The Indian Express. 11 January 2014.
  17. Pahwa, Saloni (January 2016). Haute Brides & Honeymoons. Pioneer Book Co. Pvt. Ltd. p. 71.
  18. Bombay: The City Magazine. University of California: Living Media India. 1989. p. 54.
  19. "P N Gadgil Jewellers expands business". Business Standard. 11 January 2015.
  20. "PNG Jewellers get into franchise mode". The Times of India. July 26, 2018.
  21. Ghosal, Sutanuka (February 14, 2015). "PN Gadgil Jewellers rope in Salman Khan, Madhuri Dixit for global endorsements". The Economic Times.
  22. Goel, Hemul (July 23, 2015). "Exclusive: Fashion designer Anju Modi decodes Bajirao Mastani's look". India Today. Delhi.
  23. "Pune: Director of PNG Jewellers duped of Rs 1.6 crore, say cops". The Indian Express. 20 January 2021.
  24. Susmit, Sneh (3 May 2018). "P.N. Gadgil & Sons to file for Rs500 crore IPO". Mint.
  25. Bende, Anurag (December 6, 2019). "PN Gadgil and Sons loses Rs 2.98 cr in hack attack". Pune Mirror.
  26. Joshi (1989), pp. 98, 99.
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