GIA Symposium to showcase nearly 1000 gems, jewellery and sculptures...

The Steinmetz “Sunrise,” a cushion cut 100.67-carat fancy intense yellow diamond is amongst the fabulous pieces on display.

Post By : IJ News Service On 25 May 2011 2:33 PM
India is moving towards organized retail after decades of consolidation efforts. With shopping destinations evolving and changing the consumer has become more knowledgeable and demanding. He also has the deep pockets which make the current markets consumer driven.%% Indian economy is booming and big money is flowing into the retail market. Consumers’ spending power is increasing with good jobs and hefty pay cheques. As the Indians loosen purse strings, all the attraction is naturally finding its way into the great Indian obsession with jewellery. Famous worldwide for their craze for jewellery, Indians use it at all times – for auspicious occasions, festivals and weddings, jewellery is a must. Gemstones are believed to bring luck and ward off the evil eye. Diamonds make a classy, romantic gift for the beloved. To this end, a casual walk down Turner Road in Bandra, one of Mumbai’s thriving suburbs is an eye-opener. %% The crowds thronging the line-up of stores during the festive and wedding seasons bear testimony to the fact that jewellery business is thriving like never before. Lavishly mounted advertisements with gorgeous models and dazzling jewellery beckon the customer. Celebrity endorsements add to the enticement. Moreover, the Indian consumer is discerning and will not settle for anything less than the best in terms of quality and design. Keeping this in mind, retail jewellers too constantly keep themselves updated with jewellery designs and quality. Our reporter took a peek into this retail jewellery world and came away with some fascinating facts about the Mumbai retail jewellery market.%% {{Choicest Materials & Sources}} :$$ Manufacturing high quality jewellery is no easy task. Every exquisite piece demands usage of a wide variety of materials ranging from the traditional gold, silver, platinum and alloys and precious gemstones like diamonds, rubies, sapphires and emeralds to semi-precious stones like coral, tourmaline, jade, onyx, opal, mother-of-pearl, black onyx, tanzanite…an almost endless list. Pearls and different from run-of-the-mill items like leather, steel, titanium that also play a role in jewellery manufacturing. %% Ishu Datwani, Partner at Anmol Jewellers, says that though gold and diamonds come from dealers in Mumbai, some unusual shapes of stones both precious and semi-precious can be sourced from jewellery shows and also from markets in Jaipur or even overseas. Precious stones like rubies, sapphires and emeralds with their origin in South Africa, Brazil and Burma are in demand and they are usually obtained from select dealers in Mumbai and Jaipur. Vijay Jain, CEO, Orra elaborates that diamonds are sourced from India and Antwerp. Pearls from Hongkong and colored stones from Mumbai, Jaipur and Bangkok are used for manufacturing fine jewellery. Gautam Hemdev, Director, Ghanasingh Jewellers, and Kunal Shah, Partner at Vijay Jewellers also agree with Ishu Datwani when it comes to the source of the materials used for manufacturing jewellery. Mahendra Shah, Director (C.Mahendra Exports Ltd. & Ciemme Jewels Limited) explains that while Ciemme sources diamonds from their parent company C.Mahendra Exports Limited, gold is generally bought from the bank and Zaveri Bazaar supplies silver. Alloys are mostly imported as per requirement. Danabhai Pallazio, as also Ashok Minawala, say they purchase gold from the domestic bullion market and DTC Sightholders supply the diamonds.%% Whatever the source, the answer is unanimous - the outlet that provides the best quality materials is the one which is tapped. %%
{{Certification & Hallmark Guarantee Quality }}:$$ As far as the quality of diamonds goes, super deluxe diamonds with VVS quality and GH color are the norm. The reason is simple – only superior quality material can go into making something as elegant as jewellery. Customers today know their mind and are demanding the best. They comprehend the quality of the materials that go into manufacturing jewellery whetwhether it is gold, platinum, diamonds or precious and semi-precious stones. When purchasing something as expensive and timeless as jewellery, the customers do not wish to take any chances. They are willing to understand the quality behind the jewellery that they buy and words like Hallmark, superdeluxe or certified are no longer alien to them. As Kunal Shah categorically states, gold of course is Hallmark gold. For diamonds, they usually issue their own certificate, which keeps the clients happy. Gautam Hemdev corroborates this view, “The customers do prefer Hallmark and certified jewellery. This is an added advantage for us and an additional benefit that we give to the customers.” Kiran Dixit, Marketing Head at TBZ – The Original, one of Mumbai’s oldest retail jewellery stores, also agrees. At Anmol Jewellers, solitaires of 1 carat and above are certified. Other than that, customers at both Anmol Jewellers and Vijay Jewellers are satisfied with certificates issued by them. At Danabhai Pallazio only VVS clarity and G, H color (Super Deluxe quality) diamonds are used. For diamond jewellery less then 0 .4 carat, the Danabhai Authenticity Certificate certified by diamond experts is issued. The certificate clearly mentions the 4 C’s (Cut, color, clarity, carat weight) product description, buy back and exchange policy. For solitaire diamond studded jewellery, the IGI (Indian Gemological Institute) certificate which mentions the complete description about the diamond is issued. All gold jewellery is BIS (Bureau of Indian Standard) Hallmarked by a government approved Hallmarking centre and for platinum jewellery the PGI (Platinum Guild International) certification is given. Ciemme again uses diamonds which are VVS to SI quality with color EF to HI. Diamond jewellery is generally EGL or IGI certified. The store’s own certificates are also provided for authenticity. At Orra also, diamonds are VVS, VS and SI and G/H color with Hallmark gold and internal certifications.%% Gone are the days when the family jeweller was blindly trusted. Customers may still remain loyal to a particular jewellery store but the trust is no longer blind – quality is of course in demand, quality that comes with its certification!
{{Superb Design & Style Conforming to Trends}} :$$ Since time immemorial, jewellery has been the hottest accessory to add charm and glamour to the wearer’s overall personality. Whether it is day long wearing earrings or solitaires or simple gold chains, the right kind of jewellery transforms the wearers’ attire to a different plane altogether. %% Indian customers follow style trends closely. Exposure to international standards and fashion has caused a mini-revolution in jewellery design trends. The equation of jewellery equal to gold is no longer true. Experimentation is at an all time high, though the classic designs never really go out of style. Ishu Datwani explains that as far as gold jewellery is concerned, the traditional look is still very much in demand. Customers do want an Indian look with antique finishing. Kundan and Jadau sets are in vogue especially with bridal wear. During the Wedding Season, necklaces and bangles were in demand. Last year the emphasis was on semi-precious stones and jewellery with multi-colored stones was selling well. This year the trend is slightly different of only diamonds or of diamonds with one particular type of gemstone e.g. diamond with rubies or diamonds with emeralds. Some items like bangles are popular all the year round. Another style that is picking up is of diamonds combined wiwith uncut gemstones. %% {{Unusual Gemstones Preferred }}:$$ Gautam Hemdev adds that unusual gemstones like carved golden onyx lend a very unique touch to the jewellery and appeal to customers looking for exceptional pieces. Such customers also like their jewellery with stones like jade, coral, amber and other semi-precious stones like tourmaline, amethyst, turquoise and quartz and even black onyx or tanzanite. Kiran Dixit says that bracelets and chandelier earrings about 2 inches in length have also been in demand since the current trend is to accentuate the single piece of jewellery which looks very classy.%% {{Platinum & White Gold in Fashion }}:$$ Mahendra Shah put in briefly for pendants – they are really chic now. Teamed with gold or pearl chains or even leather thongs, these lend an extraordinary look to the wardrobe. Handmade necklace sets with innovative, exclusive designs are also doing well. Further elaborating, Ashok Minawala says - Platinum and white gold diamond jewellery is in fashion now, most of the customers prefer long chandelier earrings and small pendant sets. 18 kt. lightweight Italian jewellery is also in vogue. Teenagers prefer inexpensive jewellery with materials such as steel, titanium, cubic zircons. Trendy but easy on the pocket jewellery in white gold or with rhodium finish or platinum studded with diamonds and colored stones is preferred. Silver jewellery studded with diamonds is also in because of its low price due to type of metal content. At Orra, Vijay Jain explains – all ranges of jewellery are doing well – the regular range with diamonds and gold, the mid-range with a contemporary look which uses more of semi-precious stones and the high-range where the emphasis is on Victorian or other classic designs and usage of high-end pearls like South Sea and Basra pearls and heavy precious gemstones like rubies and emeralds. Dressy pendants are also stylish now. %% All said and done, the verdict is simple. Customers match their jewellery with their attire, their mood and the occasion. For this reason, jewellery sales are on the up and up with both traditional and contemporary designs doing well.
{{Emphasis on Customer Service }}:$$ With stiff competition in the flourishing jewellery business, saying that the customer is king is like echoing the obvious. They say that the proof of the pudding lies in the eating and facts and figures go a long way as proof - the jewellery market in India was valued at a whopping 13.5 billion dollars in 2006-2007. India accounts for nearly 20% of the total global demand for gold with around 600 tonnes being utilized to manufacture jewellery alone. Clearly then, saying that the jewellery business is doing well is an understatement. %% {{Customer is King }}!$$ Lavishly decorated stores with impressive facades, helpful and courteous and well-informed staff, brightly lit displays, all spell shopping heaven for the customer. Stores are doing all they can to keep the customers coming in. Retaining customers is part of the game too – both the quality of the jewellery, certifications and attentive staff allow for better name recall and get the customer to come in again. As Ishu Datwani explains –At Anmol Jewellers the constant endeavour is to provide customers with the best service. Whether it is offering menu-based refreshments or a comprehensive customer feedback form, the customer is treated like a queen, giving her a truly memorable shopping experience. Simple thoughts like greetings on birthdays and anniversaries also help keep the store in the customer’s memory; leading to better customer relationships. The store is also designed to be impressive but not intimidating. This encourages customers with all kinds of shopping budgets to step into the store. At Danabhai Pallazio too, Ashok Minawala ensures that his staff provides gracious yet unobtrusive attention to all customers, regardless of their spending budget. The personnel provide appropriate information to the clients as per their taste and requirement. Again, the store design is such that with provision of separate counters for various types of jewellery e.g. silver, platinum, watches, the customer finds it easy to select the jewellery of their choice. By stocking the leading brands of jewellery and watches, a comprehensive view of the wide range is given, allowing for a good shopping experience. Other than simply selling jewellery, value-based services like free jewellery cleaning, prompt alteration in jewellery as per customer requirements, upgradation to higher value jewellery pieces are an important part of customer service at Orra. Various customer schemes allowing for special discounts and reward points also help in both attracting and retaining the customer. %% {{Jewellery Best Friend}} :$$ An altering customer mindset, exposure and awareness of international trends in quality and design, rising expectations of service quality from jewellery stores are all factors driving the jewellery business on the fast-track today. The market is growing at a phenomenal pace and retailers are and should be doing all they can to get their fair share of the pie. “Diamonds are a girl’s best friend” was a popular quote once upon a time. That has certainly changed with changing times: the new quote ought to be, “Jewellery is both the customer’s and the retailer’s best friend!”

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