Amidst several concerns, long meetings, continual discussions and more, the landmark regulation related to mandatory hallmarking becomes a reality in India – all set to change the course of the Indian G & J Industry completely. Opinions from across the industry highlight the upsides and downsides of thisregulation, says Sugandha R
This Akshay Tritiya brought in a ray of hope for many jewellery retailers across India and many noted that demand was better than last year. People were buying gold and that helped dispel the dark clouds cast by this pandemic
The world has collectively gone through an unspeakable year. Loss of family members, friends, colleagues and acquaintances; the virus might’ve permanently altered the way some of us look at life. Many of us are bereft of hope, we are not able to see the light at the end of the tunnel. But this too shall pass, and as humans we are bound to come out of this hardship together. Here are some encouraging words penned by some industry stalwarts. Compiled by Sugandha R
There is no one way to manage your finances. Debt management is unique to every business owner. It all boils down to inventory – store owners in metropolitan cities might believe in investing in pieces that an owner from Tier II or III cities may not be interested in. Contrary to what most people believe in, inventory management, taking loans and indulging in a bit of financial risk is not a gamble. There is a foolproof way of handing your finances. From planning, not overleveraging, assessing risk, embracing a minimalist approach, investing in a solid software and a backend team, here’s what retailers believe will make you financially strong says Vijetha Rangabashyam
From strict morning routines that keeps them going for the rest of the day, taking quick cat naps to ensure the evenings are energetic to handling staff problems and client requirements, this is how a day in the life of these jewellers looks like,
observes Vijetha Rangabashyam
From comprehensive incentives for star performers, footing their medical bills in case of an emergency to taking care of employees’ children’s education to having an open-door policy and fostering a family-like atmosphere, these jewellers go out of the way to ensure their employees are the happiest says Vijetha Rangabashyam
Consumers worldwide spent nearly $900,000,000,000 at online retailers in 2020 as Covid-19 forced consumers to stay at home and make online purchases
Jaipur-based Geeta Shyam Jewellers and its legacy of coloured stone and diamond studded polki, jadau and kundan jewellery is a class of its own – reminding one of the bygone era when kings and queens were bedecked with fine jewellery. Founder Praveen Agarwal shares some insights
With progressive features, the report is perfected to add to the confidence in certified jewelry among both retailers and consumers alike
From ensuring business is financially sound, investing in jewellery that speaks to a younger audience to investing in tech and digital to being 100 per cent compliant with rules and regulations and understanding the strengths and weaknesses of the staff, these are the biggest learnings for these jewellers says Vijetha Rangabashyam
Born into a family of jewellers, Yashasvi’s penchant towards gemstones and jewellery was natural. She breathes her imagination into every single piece, ensuring every single one of them are unique and never-seenbefore. Brand Yashasvi’s pieces are fit for collectors, who believe in keeping in their possession priceless valuables that transcend time
Getting new clients for any business has always been challenging. The last year has aggravated this challenge considerably owing to the fact that physical G & J shows had to be cancelled and converted into virtual ones. Jewellery manufacturers share the practices they adopt to get new clients with Sugandha R
Customs duty on gold and silver decreased to 7.5 per cent from 12.5 per cent with an addition of 2.5 per cent AIDC (Agri Infra & Development Cess) – in effect reduced to 10 per cent -- applauded unanimously by the whole G & J industry
If you want your consumers to identify with your product and your advertising campaign to stand head and shoulders above the rest, here are some insights from industry experts and advertising veterans says R Sugandha
The Indian jewellery manufacturing fraternity is resilient and amidst a surge in Covid 19 cases in some states, lack of skilled artisans, liquidity issues and economic downturn, they are ploughing through the crisis to meet the ongoing festive and wedding demand
Unlike metros, the relationship that people in smaller cities have with jewellery is indestructible. The sanctimoniousness of buying jewellery for special occasions is still prevalent and gold is seen as a solid investment. No chain store can replace the personal, one-on-one attention that these family jewellers have been giving their customers for generations, let alone their sound policies built on honesty and trust. Make no mistake, though they are located in smaller cities, their vision is as big as any corporate behemoth in a swanky metro. Vijetha Rangabashyam talks to 10 family jewellers from smaller cities across India to find out what has made them the best amidst their customers, even through this debilitating pandemic
PGI: Indian Q3 Platinum Jewellery Sales Shrink 40%, But Chain Stores Recover Faster to 75-100% of 2019 Levels
Indian platinum jewellery sales had improved in Q3 -- PGI maintains that platinum is well positioned given the current high gold price
We can be hopeful about the festive season ahead of us. But if you think the consumers will magically walk into your store, without any strategic marketing campaigns, then think again. Sugandha R speaks to experts and finds out what will work best in terms of not just getting that customer into your store, but also ensuring he or she buys
Youngsters are less easy to please. Their approach towards materialistic things are underlined with a keen interest in minimalistic designs, wearability, utility and sustainability. Quality and affordability are key. Come festive and bridal seasons, impress youngsters and ensure your conversion rates are higher by stocking these pieces says Vijetha Rangabashyam
Inflation, job losses, recession and the overall financial crisis – have these affected how people look at gold in India? A market that is primarily driven by weddings, has the current economic scenario played a spoil sport when it comes to buying gold? Jewellery retailers across India present their views
A centre at the Indian Institute of Management Ahmedabad (IIM-A) is conducting a nation-wide survey to finalize the list of incentives to bring into circulation a part of the 25,000 tonnes of household gold into circulation
Discounts of up to $20 an ounce were offered against official domestic prices including 12.5% import and 3% sales levies versus the $2 premiums last week
What is required at this juncture is not a set of haphazard short-term policies, but a coherent and planned development strategy for the whole G & J sector, says R Sugandha
From using less gold to focusing on pieces that are rich in tradition and craftsmanship, to embracing old-world techniques and exploring Nature as an inspiration even more, here’s how India’s top manufacturers are getting ready for the world ahead
From an unwillingness to work, low morale due to salary cut, fear of catching the virus to sales girls going on maternity leave and having to pay salaries despite having no income, jewellery store owners have had to face many challenges in dealing with their staff during this time. They have openly discussed their difficulties when it comes to handling their staff and offered solutions as well. By Vijetha Rangabashyam
US – China Trade War: India About To Take A Leap Of Faith To Become World’s Biggest Gems And Jewellery Exports Hub
On the Onset of Hong Kong losing its privilege status for preferential economic trade with the US, India sees brighter days ahead for Gems and Jewellery exports
Any prolonged disruption due to COVID-19 could materially impact credit and liquidity profiles of companies in export-dependent sectors such as textiles, gems and jewellery, etc; a report on July 1 said
India Ratings and Research Study Expects 25% Decline in Jewellery Revenue in FY 2020-21 Due to COVID-19 Impact
As per the study by India Ratings and Research (Ind-Ra) to assess effect of lockdown on retail jewellery sector -- it said the effect was 'dampening'
Covid-19 has affected every single stakeholder in the gems and jewellery industry. As demand for jewellery remains subdued in India, jewellery manufacturers worry about receiving payments from retailers, paying their staff salaries and managing overheads and the most important of all, getting back their karigars who have migrated back to their hometowns says Vijetha Rangabashyam
Select business owners from across India discuss demand supply issues, inventory-related problems and the way forward, post lockdown with R Sugandha
Based on insights gained from the G & J industry in the current situation, we have articulated eight challenging scenarios, which jewellery retailers may have to face in the near future. R Sugandha compiles solutions offered by select retailers from across the nation
Says, A Shivaram, founder of www.retailgurukul.com and former head All India Merchandising, Training and Regional Sales at Tanishq. In this interview with R Sugandha, he shares some key insights which will help jewellery retailers meet new challenges brought in by the Post Corona (PC) business environment…
The World Gold Council’s ‘Retail Gold Insights: India Jewellery’ Report Highlighted That Demand For Gold Will Increase In The New Future
Survey highlights that 60 per cent of Indian women own gold jewellery and 37 per cent of Indian women have not bought gold jewellery in the past but are open to buying it in the future
E-Commerce in the gems & jewellery sector is expected to grow by over 50 per cent this year. To support the industry in becoming online ready, BVC has announced the launch of Vamastores
Govt proposed import duty on rough colored gemstones from Nil to 0.5 percent. Move to impact the 4 lakh workers in Rajasthan, the hub of processing and cutting of colored gem stones.
If you think you can paint all clients with the same brush, then you are thoroughly mistaken. India is a vast region and the mentality of consumers differs region to region. Shreya Thakur speaks to jewellers from metros as well as Tier II & III cities to understand how different their buying needs are
The buzz is that the most famous jewellery brand worldwide, Tiffany & Co is ready with a plan to hit the Indian market with Reliance Brands as the franchise partner. How it will galvanise the domestic gems and jewellery sector is on everyone’s mind. Indian Jeweller takes a look at how the Tiffany story in India is likely to unfold
The Committee proposes setting up of Bullion Exchanges that would provide an efficient and trusted ecosystem for trading gold and ensure the success of financialisation of gold, with an aim to improve market transparency, protect the interests of market participants and facilitate India to emerge as a price setter for gold
According to experts, people in South are more aware about hallmarking as the sale of hallmarked gold jewellery is the highest in the southern region (70-80%) while it is not so popular in North
Relaxtion of credit flow and expected high sales for Mother's Day has helped Indian exporters breathe easy and anticipate higher growth
Using the art of colour blocking, Kohinoor Jewellers Agra showcases the brilliance of amalgamating luxury and fashion through intense and contrasting gemstones.
The regulatory measures are expected to continue to accelerate the formalisation of the sector, and the market shares of organised players are accordingly expected to increase, says the report.
The list features Titan ranking 28, followed by Kalyan Jewellers (37), PC Jewellers (43), Joyalukkas India (49), and Tribhovandas Bhimji Zaveri (89).
Being ethically conscious and socially responsible are being increasingly talked about as a means to enhancing your brand equity and profits. There are companies that have hit the billion-dollar mark with sustainability as their core agenda. By incorporating social responsibility and sustainability as part of one’s marketing strategy, jewellery brands too can reap benefits while doing whatever little they can in making the world a better place to live in says Vijetha Rangabashyam
“Millennials want jewellery that can be a part of their everyday life and Forevermark understands that,” says Stephen Lussier
The 6th Forevermark Forum held its exclusive press conference in Kolkata and threw light on Forevermark's beautiful journey of creating moments that are meaningful.
Three Indian companies — Gitanjali Gems, Titan and PC Jeweller — have been named in the list of top 50 luxury goods firms globally that was topped by Louis Vuitton.
Jaipur-based Rambhajo’s name is synonymous with Kundan, Meena, Jadau, Polki and fine diamond jewellery. The famed brand has grown strength to strength since its inception in 1920s. Know more about the brand as Kavita Parab explores it further.
With Birla Jewels Ltd, KSS Ltd. eyeing a turnover of Rs. 6000 crore in 2 years; plans to launch 500 outlets of Bjewelz in the country in 3 years
New GHS, in spite of being compliant with interest rates, had lost steam due to regulations and Titan faced a tough time this fiscal wooing its customers back.
Regional chairpersons include Ashok H. Gajera, Western Region; Dinesh R. Navadiya, Gujarat Region; Anil Sankhwal, Northern Region; Pramod Kumar Agrawal, Jaipur Region; etc.
The showroom focuses on providing superior quality services to the customers with high-end technologies like ‘Try on Kiosk’ and ‘Karat meter’ set up at the store.
This state-of-the-art jewellery showroom will be a one stop destination for wedding jewellery offering customers' endless choices in designs and the finest experience in jewellery shopping.
During the time of elections, Gem & Jewellery industry openly supported Narendra Modi as PM candidate as they felt he had the vision to bring back cheer in the industry. We, at Indian Jeweller, have done a survey to know how has been the last one year und
Gold rules the sales due to continued weak gold prices boost the gold bars/coins and jewellery sales on Akshay Tritiya day. Diamonds, too, find buyers on the auspicious day.
Profits for privately-owned refineries and the world’s biggest international gold mining companies could be boosted by up to $US 684 million per annum* as a result of India’s current duty differential between refined gold and unrefined gold doré.
The collection was unveiled by the Ambassador of Spain, Mr. Gustavo de Aristegui, followed by a grand evening hosted by Luxury consultant, Ms. Nisha JamVwal
The collection takes its inspiration from the ancient citadels, hand painted tiles, brilliant red roses, majestic toreros and uninhibited passion of carnival revelers.
DMCC and Gem & Jewellery Export Promotion Council India launch inaugural Dubai Global Gem & Jewellery Fair in March
GJF 2014 – a joint initiative of DMCC and GJEPC supported by Dubai Gold and Jewellery Group (DGJG)
'Secret Soulmate - your jewels are your secret soulmate' Ghanasingh Be True celebrates the season of Love
So this Valentine Season surprise your partner with the exclusively special Ghanasingh Be True jewellery piece and give a royal edge to your Valentine’s Day
GJF has asked its members not to sell gold coins and bars to curb imports of the precious metal and help the government in reducing current account deficit.
The bank sealed the diamond firm’s inventory on 12th December 2012 due to the failing of payment of overdue debts, estimated at more than $200 million.
After jewellery manufacturing and exporting companies its time for the renowned jewellery retailers to launch their initial public offerings (IPO) and make a shift from a private company to a public company.
Bollywood icon Amitabh Bachchan graced the occasion with Australian-born Indian actress Pallavi Sharda and Honourable Jay Weatheril at Liberty Cinema, Mumbai.
In an exclusive report from Indian Jeweller, it has been noted that the jewellers of Rajkot are gathered in the police stations, today. A Gujarat government rule stating that any person carrying a sum of Rs 2,50,000/- should be interrogated has stemmed th
The Kolkata based jeweller, Shree Ganesh Jewellery will invest Rs 500 crores in its expansion plan. Most of the funding will be met through internal accruals, while a part will be raised through debt.
The foreign investment proposal by Italian jewellery brand Damiani to set up a 51:49 joint venture with Mehta's Pvt Ltd has bagged the government's approval.
The 35th World Diamond Congress concluded in Mumbai on 17th October 2012, with the International Diamond Manufacturers Association (IDMA) electing a new board for the upcoming two-year term.
India's September polished diamond exports weakened 39 per cent year on year to US $1.507 billion, while polished imports plunged 72 per cent to US $371 million.
The government has assured the agitated jewellers that after the parliament comes in session again the excise duty may be removed, although import duty to stay.
The MJGF-IJ Jewellers Choice Design Awards 2011 concludes with the winning creations being unveiled in a glittering Grand Finale Award Night
ICA Congress attendees learnt that Brazil’s thriving trade from mine to market is expected to experience very high growth over the next two decades.
Pandora, Ivanka Trump and Roberto Coin share top honours with Cartier, Graff and Patek Phillipe in 2011 top jewellery and watches brands list
United Brands LLC, Beverly Hills, released its 2011 top 10 lists of the highest ranking jewelry, watch and diamond brands in the world.
Two new speakers have been added to the GIA (Gemological Institute of America) Symposium 2011 business track agenda for May 29-30 at the world headquarters in Carlsbad.