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06 Jan
The Gitanjali group, which owns Nakshatra, the diamond jewellery brand it acquired from De Beers, has rolled out an online platform that markets the brand’s diamond jewellery along with a line of designer clothing. The product range targets both the fashion-driven as well as bridal markets. The online platform www.nakshatra.world will offer Nakshatra jewellery that begins at the ₹10,000 price point and ranges upward along with an apparel line that includes day-wear tops, tunics, gowns and wedding-wear sarees in the ₹2,000-₹150,000 price bracket. Over 40 fashion designers will have their apparel lines clubbed with jewellery on the website. Commenting on the launch, Gitanjali Chairman Mehul Choksi observed, “Nakshatra revolutionised the branded diamond jewellery segment 15 years ago by...
05 Jan
Jewellery manufacturers have a mixed outlook as they contemplate business in 2017. While some think business will be better, there a many who are doubtful, citing the adverse climate generated by the demonetisation and an uncertainty about government policies and the rollout of the Goods & Services Tax (GST). Sameer Tulsyan of T J Impex, a manufacturer of diamond jewellery based in Mumbai, says, “Demonetisation has led to sharply reduced sales in jewellery retail stores. This has given them all a gloomy business outlook and many of them have not paid up yet for jewellery they had taken on credit.” Tulsyan adds, “The country is going through major changes. There is currently some uncertainty about when it will happen, but GST is going to be implemented sometime this year. There is...
04 Jan
Responding to questions on what the outlook for business was in the wake of demonetisation, several jewellers from across the country share their perspectives with GEMKonnect. Ketan Choksi of Narayan Jewellers in Vadodara says, “We accepted payments through multiple channels — cheques, credit cards and electronic bank transfers — long before demonetisation took place. And while it is true that a parallel economy was run in cash, it is incorrect to say that every cash payment we received was in black money. Our major client base consists of women who are unfamiliar with other modes of payment. It is simply their preferred mode of transacting business. Now, in post demonetisation India, they are the ones who are going to have to make a change in the way the buy things.”
Ketan...
04 Jan
The Platinum EVARA jewellery brand won the Brand of the Year 2016-17 — Emerging No.1 in the Jewellery Category award at the Pride of India awards in Mumbai recently. Platinum EVARA won the title while competing against brands like Tanishq, PC Chandra, PN Gadgil and Lumineux. The selection process was based on an exhaustive mapping of elements like brand promise, overall growth, year-on-year growth, reach, penetration, goodwill, recall, and market acceptance in a number of brands. The initial selection yielded a shortlist of 100 brands from which the winner was selecte. The selection process showed that Platinum EVARA generated a 55 percent  awareness and a 31 percent purchase intent for the brand among target audiences over the last two years. Consumers identify with platinum as a clear...
03 Jan
The Titan Company, part of the giant Tata industrial group, said in a stock exchange filing, that its Tanishq jewellery brand had registered a 15 percent growth in the October-December quarter, reports Bloomberg Quint. The growth is despite the Indian government’s demonetisation of the country’s ₹500 and ₹1,000 notes, which has severely impacted gem and jewellery sales throughout the country. Tanishq saw a 40 percent growth during the October festival period — one of the best festival sales periods ever, according to the company. It said that it witnessed an “abnormally high rush of buyers” followed by a brief sales slowdown period. Tanishq says sales then reverted to near the daily average before the demonetisation. According to Tanishq, most sales were either through its “Gold Harvest”...
03 Jan
The Gem & Jewellery Export Promotion Council (GJEPC) has, in response to strong exhibitor feedback, decided to run the IIJS Signature show run for four days from February 6 to 9, with show timings extended to 8 pm for the first three days. The GJEPC had originally announced that the show had been rescheduled and its duration shortened to three days due to a combination of factors that include the advancement of the Indian government’s budget for the fiscal year beginning April 1, 2017 and prevailing market conditions. However, exhibitors from Mumbai and Jaipur had made representations asking for the show to be extended to its original four days. The GJEPC, after meetings with the exhibitors, decided to revert to the original four-day running time for the show. The show will run from...
27 Dec
Style Quotient Jewellery, in conjunction with Being Human — The Salman Khan Foundation, launched a unisex range of fashion jewellery under the Being Human brand on December 27, Bollywood actor and foundation head Salman Khan’s birthday. The line is inspired by core values such as love, caring, sharing, joy, helping and hope. The design philosophy balances Khan’s unique style and International fashion trends, with 65 percent making up a women’s range. Apart from brick-and-mortar outlet chains like Shoppers Stop and Kapson’s, the jewellery is also available through the Being Human app and online retailers like Amazon, Paytm and Silvostyle.com. Designed for everyday wear and priced from ₹150 to ₹3,000, more than 80 percent of the range is around the ₹1,500 price point, making it extremely...
27 Dec
India’s Gem & Jewellery Export Promotion Council (GJEPC) 50th Annual General Meeting (AGM) resulted in significant decisions that changed its code of ethics to enable it to become a member of the World Federation of Diamond Bourses (WFDB) and created a Trade Disciplinary Committee (TDC) in conjunction with the Bharat Diamond Bourse (BDB) and the Mumbai Diamond Merchants’ Association (MDMA). The 21-member TDC will be constituted with three representatives each from the three constituent trade organisations, with the remaining 12 being inducted by the initial nine members. It will take up matters of misconduct in the gem and jewellery trade including financial fraud, cheating, and the undisclosed dealing in synthetic diamonds, making false and incorrect inscription on gems and jewellery...
20 Dec
Minister of State Rajiv Pratap Rudy (fourth from left)with the newly qualified artisans
The Gem & Jewellery Skill Council of India (GJSCI)’s Recognition of Prior Learning (RPL) program for goldsmiths launched in Kolkata last month at the EduJobs Academy, has finished assessing the first batch of 125 artisans and awarded them certificates. The RPL initiative identifies the skills acquired by a variety of gem and jewellery artisanal groups through on-the-job experience and informal family-group teaching, and gives them weightage in training programs that result in certification. The Indian gem and jewellery industry employs some 3.5 million people, a large number of whom have no certified skills. The RPL program gives them much needed documentation that allows...
20 Dec
India’s Directorate of Revenue Intelligence (DRI) has arrested the owner of Mahalakshmi Jewellers, a jewellery manufacturing unit in Delhi’s Noida Special Economic Zone, after having unearthed a fraud of ₹150 crore ($22 million) involving gold that was imported duty-free, reports the Hindustan Times. There has been very high demand for smuggled gold as a medium to launder undeclared currency held in the now demonetised ₹500 and ₹1,000 notes. India imposes a 10 percent import duty on gold, but the yellow metal comes in duty-free to custom-bonded export zones like the one Mahalakshmi Jewellers is located in. The DRI, the apex custom duty enforcement arm of the the Central Board of Excise & Customs (CBEC), intercepted an export shipment from the company at Delhi airport’s cargo terminal...
16 Dec
Arpit Rastogi (right) hands over a goldcoin to a lucky customer 
Lala Jugal Kishore Jewellers took their festive season customer outreach up a notch by launching the SwarnaRatri contest, with one gold coin to be won every day for nine days. Customers were asked one festival-related question and a winner picked from among the respondents. The lucky winners were felicitated during the Karnaphool Exhibition. Tanya Rastogi, a company director, observed, “As a brand, we attempt to create an overall happy experience for our consumers, with most of whom we share a personal relationship. We have been their family jewellers for many years and thus share many of the important moments in their lives.” Rastogi and her husband Arpit are the 10th generation of the Lala Jugal...
15 Dec
The Musi river, a 240-kilometre-long stream which flows through the southern Indian state of Telangana and past its capital city, Hyderabad, is now the focus of interest as recent exploration has revealed several diamondiferous points near its confluence with the Krishna river. The Krishna river has been the subject of intense exploration for diamonds as the world’s very first diamonds were discovered in the alluvial Golconda mine, which was located in the river basin. The area is also known for having developed the very first practical diamond cutting and polishing techniques using diamond dust and hand-powered tools. Even though the Musi is technically part of the Krishna river basin, it has never been explored until now. Researchers using Very Low Frequency (VLF) electromagnetic...
14 Dec
Indian jewellery and watch brands like Malabar Gold & Diamonds and the watch unit of Titan, parent group of the Tanishq jewellery brand, have seen a significant drop in their West Asian sales due to the economic slowdown in the region triggered by low oil prices. While the economic impact has been severe in oil exporting countries in the region, even non-oil-driven economies like the UAE and Qatar have witnessed a slowdown because of a major fall in tourist traffic. Malabar Gold & Diamonds told the Business Standard that it had put off a planned expansion in the region after experiencing a sales drop that was as much as 25 percent in some parts. Titan’s watch sales have dipped significantly in Saudi Arabia, the UAE and Qatar, with the latter two markets being affected by a...
07 Dec
Couture jewellery brand Anmol, known for redefining luxury with its innovative and exclusive designs, introduces a selection of carefully crafted bridal jewellery for the upcoming wedding season. The collection comprises intricately designed multi-layered necklace sets, meticulously crafted with a perfect blend of contemporary looks & traditional aesthetics. It celebrates a bride’s most treasured journey with elegant and timeless designs that reflect the beauty of every precious moment. The pieces are crafted keeping in mind a modern Indian bride, who exudes tasteful elegance while embracing her traditional values. These timeless masterpieces are crafted in 18-karat gold with an interesting play of diamonds and coloured gemstones, uncut diamonds and yellow diamonds. Each piece in the...
06 Dec
Prem Kothari, Aditya Pethe & Binit Bhatt at the event
The Gem and Jewellery Skill Council of India (GJSCI) launched a monthly interactive platform called “Jewel Talk”, that brings industry veterans together with new talent seeking a career in the gems and jewellery industry. The first Jewel Talk session was held at the Indian Institute of Gems & Jewellery (IIGJ), Mumbai. It was inaugurated by WHP Jewellers Director Aditya Pethe, while IIGJ Chairman Kirit Bhansali addressed the young talent gathered there. GJSCI Chairman Premkumar Kothari, and CEO Binit Bhatt felicitated the guests of honour. On hand to share their knowledge with the students were Hemant Shah, Vidhya Majumdar and Veenaa Shah. Pethe observed, “This has been a great initiative by the GJSCI...
29 Nov
Indian Minister of State for Consumer Affairs C.R. Chaudhary informed the Lok Sabha today that the hallmarking of gold and silver jewellery in India is voluntary and there are 409 assaying and hallmarking centres in the country that are recognised by the Bureau of Indian Standards (BIS). The setting up of assaying and hallmarking centres is a market-driven activity which depends on commercial viability as assessed by entrepreneurs. However, to provide an impetus to hallmarking in deficient locations, the government provides financial assistance to centres in these areas. Chaudhary said the assaying and hallmarking centres were subjected to surveillance and audits in order to protect consumer interests. "Market samples are drawn from licensed jewellers to ensure compliance to relevant...
29 Nov
Former Femina Miss India Aditra Arya models Izaara jewellery
WHP Jewellers has launched a silver jewellery range called Izaara that is aimed directly at making style statements over the party season. By crafting the range in silver, prices can be kept low and wearers given a range of style statement options without breaking the bank. Individual pieces in the range are each developed from an individual concept. The range includes an ocean inspired bracelet, a Cleopatra inspired necklace and a pendant set that infuses Arabic and Indian designs, among others.  Izaara represents the key characteristics of a confident woman and has something to suit every occasion. Be it a cocktail party, business meeting, festive occasion or simply a brunch with her close friends. ...
25 Nov
The jewellery market in India is one of the largest in the world. With a multitude of players in both organised and unorganised spaces, consumers are spoilt for choice, reports India Retailing. It quotes a report by Research and Markets that predicts the jewellery market in India will grow at a compound annual growth rate (CAGR) of 15.95 percent over the period 2014-2019. According to the India Retail Report 2015, the total jewellery retail market in India is worth ₹2,01,344 crore ($33.56 billion) and growing at 24-26 per cent. It is expected to reach ₹3,83,000 crore ($ 63.87 billion) by 2017. Modern retail is estimated at 10 percent of this total market and is expected to grow at a little under 22 percent. Sunayana Vora, VP – Retail of Tara Jewels, says, “The jewellery market in India is...

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