Consumers opting for lighter jewellery

Falling rupee to boost NRI sales
Consumers opting for lighter jewellery

With the upcoming wedding season, jewellery retailers are gearing up with new designs, offers and services. A major share of bridal ensemble is taken up by jewellery which includes maangteeka, earrings, rani haar, armlets, bangles, anklets and sometimes even kamarbandh. An Indian bride typically spends upwards of Rs 3 lakh on her wedding jewellery and it is no wonder that jewellery retailers introduce the best of their offers this season.

New trends

Vikram Raizada, Executive Director and CEO (Retail), Tara Jewels says that more and more Indian women are moving away from the traditional kundan and polki towards diamonds and lighter jewellery that can be worn even after wedding. Apart from diamond jewellery, this season will also see a lot of experimentation with colour and fusion stones along with various versions of gold like yellow, white and rose gold. “Lower karatage of gold allows innovative and light weight designs which are easy on pocket as well. We have launched IVA collection and Mia 3.0 collection recently which reflects the global jewellery trends,” says Sandeep Kulhali, VP – Retail and Marketing, Tanishq.

Even Gitanjali Jewels has introduced innovative settings, colour stones and pearls with diamonds for brides. “We offer an extensive range of jewellery with assurance to consumers, so they can purchase these sparklers with a vote of confidence and adorn them with panache”, says Santosh Srivastava, MD, Gitanjali Jewels.

Gaurav Kushwaha, CEO and Co-Founder, Bluestone.com says that this wedding season will see an outburst of semi-precious and precious gem stone jewellery. Another trend that is likely to find a bigger market in the upcoming season is couple bands in white and yellow gold. In addition, category that has been accepted as part of the trousseau are diamond studded cocktail rings.

Traditional elegance

For brides who choose to dress themselves in traditional attire, Popley Eternal has launched its Royal Heritage collection that is handcrafted and designed specifically for special occasions. Suraj Popley, MD, Popley Eternal says, “This collection is a symbol of magnificence, purity and elegance.” Celebrated designer Anita Dongre too recently launched her exquisite handcrafted jewellery line – ‘Pinkcity’ – produced by Pradeep Jethani of Jet Gems. Dongre says that Pinkcity is a natural part of the wedding trousseau because of its traditional design. Ashutosh Sharma- Managing Director, Shreem Jeweler says brides today are aware of brands and know what the celebs are wearing and they want to wear it too. "This season, gold will prevail over diamonds and lighter jewellery sets will be in vogue. Nevertheless, nothing matches the ethnicity and serenity of traditional jewellery like kundan, jadau and meenakari"' says Sharma.  

Retailers are also witnessing an increase in the sales of artificial jewellery. A number of brides choose to buy heavy, designer art jewellery in place of gold as they offer traditional, heavy-work designs with embellishments without being heavy on the pocket.

In-store offers

Tanishq is offering a flat 15 per cent discount on the sale of diamond jewellery worth Rs 2 lakh and above. Jewellery designer Divya A Bhasin is offering a congratulatory 5 per cent discount to brides, as a gift on purchases above Rs 21,000. However, the depreciating rupee along with rising gold prices has cast a dark shadow on jewellery buying despite the lucrative offers. To overcome the same, Senco Gold offers EMI option to customers under Swarna Yojna Scheme.

Weak rupee to affect industry

Retailers are not completely disappointed with falling rupee. Ishu Datwani, Founder, Anmol Jewellers says that sales to NRI clients will go up because they get the benefit of conversion rate and they are not very worried about domestic clients buying less gold this wedding season. Tarang Arora, Designer and Head of International Operations, Amrapali too agrees with Datwani and is expecting a growth from the tourism sector as their clients in America and Europe will find it relatively cheaper.

 

 

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