Lakhi Group's new office at Bharat Diamond Bourse inaugurated

Varda Shine, as Chief Guest together with colleagues from De Beers Group and the Diamond Trading Company (DTC), inaugurated the Lakhi Group's new 6,000 sq.ft. state-of-the-art office in India's new Bharat Diamond Bourse at the Bandra Kurla Complex.

Post By : IJ News Service On 13 April 2011 10:49 AM
{{It's time for shoppers to make a beeline to take advantage of special festive offers. It's the time of the year when there is Spring in the air and as shoppers go about finding the best deals.}}
As the shopping season begins with shops flaunting the 'Sale' sign, it's time for shoppers to make a beeline to take advantage of special festive offers. It's the time of the year when there is Spring in the air and as shoppers go about finding the best deals, our field reporter takes a round to see what's selling.%% The mall fever has caught up too soon with India but does this leave behind the exclusive showrooms or will they be able to thrive as specialty stores? What happens when you get a wide choice of several brands under one roof while there is large collection of one brand under a roof? What do you choose ?%% An average shopper who wants to buy casual, trendy stuff definitely picks up something without much fuss since the investment quotient is low. The jewellery is trendy, easy to carry and doesn't need maintaining. A heavy piece would involve investment and a lot of thought goes into this. You are getting something that is once in a life time or a rare buy? What about the change in styles and designs that make you seem ages old if you wear those studded heavy sets that were in vogue some 10 yrs back? Previous season - it was just gold, next season it was diamonds and this season it is colored diamonds.
For an Indian consumer buying jewellery is an investment. We don't keep changing with styles. There are families who have pure gold sets passed on from grandmothers to grand children. But that's a different story. Can we trust the gold we get today? Purity and lack of consumer trust has held back Indian consumer from trading gold for new designs and trends. With coming of brands the dilemma has been more or less sorted out but industry scandals tell a different tale of consumer confidence.
Teens Jewellery in Demand:
With so much happening in the precious industry and diamonds being the next big thing after gold, where do you choose to shop and how much do you trust what you get? Its malls this season since the festivities and wedding season have calmed down and the New Year and valentines take over. The gifting season sees punters making a beeline for small pieces that are easy on the pockets. The range doesn't exceed over Rs. 8,000. Shops like Gili and Kiah have small delicate pendants and trinkles which start as low as Rs.1000.
It's the teen jewellery that sells. The gifting season sees people exchanging gifts. "Jewellery is something you can preserve and use over and over. It doesn't break or spoil easily. It's a safe keeping gift you give your loved one as a fond memory of togetherness," says Minaz Virani, a student from SNDT.%% I head to Palazzo at Cross Roads to see what's on display this season. Palazzo around ten brands clubbed under a canopy. The known brands in the industry sparkle competing for attention. But what really sells? With recent launches and promotions with a new concept and new designer lines that hit shelves each season, what consumers purchase is hard to grasp. As I move around from one counter to the next there are different aspects of selling that claim attention. %%{{The gifting season sees punters making a beeline for small pieces that are easy on the pockets. The range doesn't exceed over Rs. 8,000. }}
Spiritual Predominance:
The new trend that's really visible this season is the spiritual pendants. Inter Gold has a special collection designed by different designers. It's been there since Inter Gold came into existence but seemed like a new concept as people have begun to rediscover the phase of spiritualism. The collection has beautifully crafted replicas of god and goddesses in diamonds and enamels adding color to the creations. Another name is Oyzterbay which has come out with an Astral Art Collection. The collection is based on the concept of astrology and designed according to the powers of the stars. %% There are rings and earrings that are hot sellers this season. With the New Year and Valentines it's the band of love, the rings that are stealing the show. The staff at the counter are the best people to gauze trends from and here is what they have to say.%% Sparkles diamond jewellery starts with Rs.2,000 pendants and goes as high as you want to buy. But the counters in stores hold jewellery of maximum Rs.50,000. it offers rings and earrings set with diamonds. "White gold and small pieces in demand at this time of the year," says Akshaya who looks after the Sparkles counter in Dhanabhai's Palazzo. The best sellers for Sparkles are their delicate rings starting at Rs.5,000.
Gift Purchases Galore:
There are Adora and Oyzterbay back to back displaying their collections. Adora has its small delicate collections on display while Oyzterbay sports a bit bolder, heavy rings in its display space. Shabana of Adora and Ankit of Oyzterbay answer together about the best sellers on their lists. "It's more of rings and pendants. Since it's the gifting season people come to buy small stuff which is cost effective," they explain. I approach the Nirvana counter and the ever smiling staff greets me. Nirvana has the people who know how to please the customer. It's Hemant Shetty, counter sales man who talks about Nirvana sales. Palazzo has Nirvana displaying collection starting with Rs.10,000. "There are rings for less but the range between Rs.10000 and Rs.15000 sells really well. We also see people demanding balis which start around Rs.10,000. People like our designs and so are ready to pay the price," says Hemant. %% Ira is next in line and this special range of jewellery for women is good for casual wear. There are delicate rings that can be used as pendants also and are selling well. The range of jewellery that Ira sells is between Rs.4,500 to Rs.9,000. Instyle is not far behind. It has exclusive and trendy designs. "Clusters sell well in our collection. There is demand for rings and bangles," says Dhruv the sales person at the counter. %% A totally colorful and bright counter amid the all sparkling gold collection is Damask's Collection. It is 18kt. diamond jewellery and 24kt. gold jewellery that it offers done in traditional designs with Minakari, Kundan and Polki work. The Damask's counter is exclusive to Palazzo and has no other branch around. The collection is vibrant with heavy pendants and jhumkas in red and green that dominates its color scheme. "We specialize in trendy traditional jewellery. People are not aware about its value and craftsmanship, they need to be educated on that aspect," says Ambrish Solanki. "People buy such sets when they want to match jewellery with their dresses."
Carbon Collection was in news for its launch of NOX and Constellation Collections. However both them have failed to impress the punter. It's the Persona collection that is making sales rise for Carbon. Its Duette collection is a combination of yellow and white gold with diamonds and is going fast. "We sell more of pendants which start as low as Rs.2,750. The NOX collection has seen no buyers," Girald explains as he points out to a solitary showcase in a dark corner. The whole concept of sparkle in the dark for NOX seems to have kept the consumer in dark about the collection. %% Ishis is yet another brand that makes you stop and take notice. The collection has rings and earrings moving. "We sell a lot of rings and earrings starting at Rs.4000 onwards. Heavy designs don't sell well it's once in a month that a customer even looks for a heavy design. If they want something bolder we direct them to the showrooms," says Meghana, counter incharge of Ishis.%% There are some other brands to explore at Palazzo but its lunch time and so I take a quick glance at Arisia, D'damas and Dhanabhai's collections. Dhanabhai jewellers have the maximum space and you get all kinds of jewellery here. You name it and they have it. Be it diamonds, spiritual pendants, heavy studded sets or light casual pendants. It's all there spread in neat sections at the far end of the Palazzo. Its time for me move on to the next mall to get the pulse of the trend.
Solitaires Sought:
As I enter the Phoenix Mills area it's the realization that its all here. Right from eateries, shopping, accessories, jewellery, designers and even food bazaar. Shoppers just drift in and out and I merge with them to get a hang of the trends. Pantaloons has around six counters with prominent brands like Nirvana, Ishis, Carbon, Gili, Cygnus and Inter Gold. Carbon has its many collections lined to lure you. The NOX collection has failed here too but Persona and Sun sign is moving well. The stones and diamonds Venus collection is doing well too. "This season it is solitaire that sees maximum sales. People are proud to own a diamond no matter how small but it still has the spark," says Prashant who manages the Carbon counter at Pantaloons. %% Nirvana at Pantaloons too has friendly sales staff. Jalal fills me up on the settings and quick moving jewellery. "It's definitely rings this season. The cluster and new mystery setting is doing really well. It's the individual pieces like pendants and earrings that people prefer over sets," he explains. Ishis at Pantaloons is a small counter but you get a good collection of nose rings and Pendants. Daksha tells me that it's more of rings and pendants since its gifting season. Clusters sell more than single stones. %% Gili at pantaloons has chains that are hot sellers. Delicate thin chains that are priced between Rs.1,400-Rs.3,500. "it's the round and brilliant cuts that sell best and floral designs are in vogue," says Tabasum who manages the Gili counter. People buy Gili not as gifts but for self use Tabasum believes.
Heavy Pieces not Favoured:
The Cygnus counter sells single gemstone designs. "Sets don't sell well. It's the season for diamonds and color stones are subdued," says Deepak of Cygnus at Pantaloons. The Cygnus collection is priced between Rs.5000-Rs.50,000. Inter Gold has a showcase full of spiritual displays by designers. The range is Rs.5,000- Rs.30,000. Only well informed buyers who know about these collections and value the importance of Rudraksha, Shankha and such elements buy the collection. Where daily wear jewellery is concerned there is demand for clusters and small sets sell but there is no demand for heavy stuff at the counter. "It's very rare for people to ask for heavy stuff. I usually tell them to visit our show rooms. They get more variety and better choice there. %% The next and obvious choice at Phoenix Mills is Life style. Life style has Gili, Adora, Nirvana and Ishis. Adora has seen the most success at this outlet since it has a good collection of pendants and earrings. It also has a line of spiritual pendants that is selling well. the pendants are priced at Rs.5,000 to Rs.6,000. "Since people are buying jewellery as gifts this season we are selling products in the range of Rs.10,000,"says Prashant, Counter staff for Adora at Life Style. Gili is also doing well with its floral collection being in the limelight. The designer collection starting with Rs.10000 is doing well and they have promotion offers exclusive to lifestyle alone. %% This is the up town scenario. The Republic Day saw shoppers flocking towards the malls. The low prices and special offers were luring more buyers than any other reason. With additional offers for Valentines Day it's welcome opportunity hard to miss.

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