Leading With Purpose: AV Group Founder and CEO Ashish Vijay is Drawing on Generational Values to Grow His Businesses

Entrepreneur

19 hours ago

With his expertise extending into the worlds of entrepreneurship, investments, and philanthropy, AV Group Chairman and founder Ashish Vijay is betting on the values passed down through the generations before him to imbue ethics and longevity in all his endeavors.
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There seems to be a common behavioral combination that exists among most new generation family business leaders: a deep seated desire to honor the traditions and values that have built the companies they helm, and a vigor to introduce the right innovations to grow their business impact. It is this sentiment that is evident in the work of (and, indeed, the interview responses from) Ashish Vijay, the founder and CEO of AV Group, a UAE-based business conglomerate primarily renowned for its luxury jewelry products. After all, it was his grandfather who, in a newly independent India in 1948, set up a gemstone trading business in the capital city of New Delhi. "I'm here to protect what came before me and explore what's possible next," Vijay says. "Leading a company that has a successful legacy of more than seven decades is a big responsibility, but also something I'm proud of. This company was built on strong values and a long history. My job is to respect that legacy while also taking things forward."
So far, Vijay has stayed true to his promise. Under his leadership, AV Group –which eventually shifted its headquarters to the UAE over the years– has gone on to operate in a number of other industries including financial investment, social impact and real estate. But for the founder, it was an imbibed love for gemstones that marked his initiation into the world of business. "I didn't really choose this path—it was always around me," he says. "I grew up surrounded by colour and sparkle. For me, gemstones weren't just beautiful objects; they had life, energy, and meaning. Even as a child, I felt connected to them. So it was never a question of "if," just "when." From very early on, I knew this was what I was meant to do."
That initial spark of interest has continued to ignite Vijay's passion, with AV Group today having three distinct verticals for its gemstone offerings. The first of these is Meraki by Tiara Gems, a store that offers everyday jewelry that is both classic and wearable. Ranging from a modest AED600 to a high-end pricing of AED12,900, the brand offers pieces made of diamonds as well as precious stones such as ruby, emerald and sapphire. While a physical Meraki by Tiara Gems store is located at the Dubai International Financial Center (DIFC), the designs can also be purchased via its online platform. The second is AV by Ashish Vijay. "This is our most exclusive line, and offers one-of-a-kind pieces with rare stones like red diamonds, Cashmere sapphires, and more," Vijay explains.
Image courtesy BNC Publishing
The third vertical is perhaps the most pristine of the lot– AV Globale, a B2E global auction platform that engages gemstone enthusiasts, manufacturers as well as producers of gems and jewels. For its Dubai-based auctions, the entity has forged a formidable partnership with the Dubai Multi Commodities Centre (DMCC). "AV Globale connects serious collectors directly with top-tier gemstones and jewellery, whether rough, polished, or custom-made," Vijay adds. "Our clients appreciate rarity, meaning, and quality. They don't just buy jewellery—they invest in pieces that tell a story."
Now, Vijay's belief in the ability of ornaments to narrate a tale isn't some spiel to garner attention– it clearly stems from his own connection with precious stones. So deep rooted has his drive to curate the best collections for AV Group been, that the founder often gets directly involved in the sourcing and selecting of stones for the brand's designs. "I believe every gemstone has a story, and you can only understand that if you work closely with it," he says. "I personally choose every important stone because it's not just about quality—it's about finding the right match between the gem and the person. That care and attention shows in the pieces we create. It's what makes them special."
Vijay's dedication to his craft received a major external nod of approval when, in early 2023, he joined the board of the International Colored Gemstone Association (ICA) and was given the role of ICA Dubai Chapter's Director. "Through my role at ICA, I've been able to promote coloured gemstones more widely in this region," Vijay notes. "We've built new connections and partnerships to bring more attention to this side of the industry. It's been a privilege to help position Dubai as a hub for rare gems. Dubai has given us the perfect foundation to grow—great infrastructure, strong leadership, and global reach."
Image courtesy BNC Publishing
Indeed, the UAE's gems and jewelry market has been silently proving its mettle as an economy booster, with a report by US-based management consulting platform TechSci Research showing that the industry stood at US$8.34 billion in 2023 and is anticipated to grow with a compound annual growth rate (CAGR) of 6.84% between 2025 and 2029. Vijay and his team thus hope to create their own distinct mark in the market through the creation of jewelry items that are created with intent. "We don't follow trends just to stay current," Vijay declares. "Instead, we focus on timeless designs that connect with people. Our work combines global influences with rare materials. We also use technology to improve craftsmanship and offer a smooth experience—but always in a way that supports the heart of the piece, not distracts from it.
But the same aforementioned report —which highlights that the UAE's strategic location as a global trade hub, its tax-free environment, tourism, and multicultural population have been key drivers in the industry's steady rise— also notes that a global lack of ethical practices has been detrimental to achieving sustainable growth. One such area of ethicality has been the treatment of small-scale miners, who face issues ranging from unfair working treatment to lack of market access. For Vijay, ensuring a more equitable ecosystem in this regard has been paramount. "At AV Group, we work closely with small-scale miners because they're a crucial part of the gemstone world," he shares. "Many of them don't have access to fair pricing or stable income. So we help by offering financial support and giving them direct access to our Dubai auctions. This gives them a better chance to grow—and helps us build a more honest and sustainable supply chain."
Vijay's drive to create a more transparent industry is deeply interlinked with his philanthropic efforts– something he mentions has "always been close to my heart." As such, one major initiative in this regard has been Gems of Hope- a program that directs resources toward critical medical aid and research. In 2025, through a partnership with India-based Tata Memorial Hospital and AIIMS Delhi, the program has also redirected its funds specifically towards cancer care and research. "Philanthropy is not just something we add on—it's part of how we run the business," Vijay says. "Through Gems of Hope, we support children's education, healthcare access, and environmental efforts. It's our way of giving back with purpose. For me, true success includes helping others rise with you."
Image courtesy BNC Publishing
It is perhaps this mindset that led Vijay into the field of financial investments as well. In 2016, he set up Seiko Financial Services in Dubai to support businesses ranging from grassroots ventures to global startups, with a special focus on empowering women-led enterprises. There is AV Investment Funds, a new initiative aimed at maximizing investor earnings while expanding opportunities in high-value assets. "AV Investment Funds allows people to invest with us in a range of areas—rare gemstones, real estate, and renewable energy," he explains. "But it's about more than financial returns! It's about building trust, long-term value, and creating opportunities that benefit everyone involved."
Vijay and AV Group's move into the booming realm of real estate has also led to the launch of AV Real Properties (AVRP), a real estate innovation platform aimed to cater to the growing number of property buyers in the nation. "We will soon be launching new initiatives through AVRP which will focus on fractional ownership," Vijay reveals. "This model makes it possible for more people to invest in carefully selected, high-value properties. It's a step toward more inclusive, transparent ownership—something we deeply believe in."
Image courtesy BNC Publishing
But that isn't all Vijay has in the pipeline. "We're entering an exciting chapter," he declares. "Over the next 12 to 18 months, our focus is on expanding AV Group across key areas—real estate, investment, and impact. AV Investment Funds will continue to grow across sectors like clean energy, rare gemstone portfolios, and legacy real estate. But for us, it's not just about financial performance—it's about building long-term ecosystems built on trust and value. On the impact side, our Gems of Hope initiative remains close to our heart. The new projects focus on cancer care and critical treatment access for underserved communities—causes we are deeply committed to. And, as always, we'll also be unveiling new collections, exploring new mines, and investing in technologies that help us evolve while staying true to who we are. The future for us is about more than growth—it's about meaning, inclusion, and legacy."
As Vijay gears up for this new phase of growth and innovation, he remains grounded by the advice he received from his predecessor– his father, Vijay Kumar Jain. "My father has had the biggest influence on me," Vijay says. "He didn't just hand over the business—he passed on the values that built it. He always said, "The bigger the risk, the bigger the reward." But more importantly, he believed in trust, transparency, and tradition. These are the values I still follow, and they've become the foundation of how we run AV Group today and will continue to!"