The expansion of costume jewellery market is increasingly drivenby costlier gold and global fashion trends. With the facility of adorning the latest jewellery trends at a minimal cost, costume jewellery is winning numerous hearts. Sandhya Sutodia finds out how consumers are moving to fashion jewellery to get variety within tight budget and change jewellery along with their clothes. %% With gold prices pushing northward aggressively from Rs 12,500 per 10 gm in 2008 and currently ruling at around Rs 29,000, leading jewellery retailers have also entered into fashion jewellery business in a big way to cater to the growing fashion-conscious young India apart from selling costliest gold and diamond sets. %% Experts of the opinion that high import duty coupled with less availability of gold has made jewellers to reorient its business strategy to remain profitable. With import duty as high as 10 per cent and premium going up due to scarcity of gold in the market, pure gold jewellery business is losing its sheen, Kolkata-based jewellers said. “The demand for this sort of fashion jewellery is increasing in India,” experts added. %% It is learnt that big jewellers like Gitanjali has taken the decision to cut down its pure gold jewellery business by 60 per cent and step up diamond and gemstone business by 40 per cent. To cater to the growing fashion-conscious young India, Gitanjali has entered into fashion jewellery business in a big way. %% Anargha Chowdhury, Director, Anjali Jewellers talking about the popularity of costume jewellery among the jewellers and customers said, “The reason for consumers and jewellers choosing fashion jewellery is that it looks a lot like real jewellery and one can easily wear them to any occasion.” %% While Suvanker Sen, Executive Director, Senco Gold, feels jewellers are moving into fashion jewellery to ensure that consumers continue to visit their store for small purchases as well. He added that demand is going up for variety. %% Customers preference are changing from fine jewellery to relatively inexpensive but equally flashy costume jewellery, feels vice-chairman, Gems and Jewellery Export promotion Council (GJEPC), Pankaj Parekh. %%

Imitation jewellery is largely made of brass, cast iron, nickel, plastic beads and stones, instead of precious metals and gems. It does not have resale value and is available at a range of less than Rs. 500 to any price band depending on the usage of the metal and stones, Ashok Kumar Bengani, President, Calcutta Gem & Jewellers Welfare Association (CGJWA). %% Gitanjali uses brass, steel, and silver with semi-precious stones for fashion jewellery to lower the entry barrier further and reach out to a broader customer base, it is further learnt. %% The demand for costume jewellery is growing and is expected to touch Rs 11,000 crore by 2014, say experts. Increased adoption of the costume jewellery category, expansion in product offerings is expected to drive growth to nearly 20 percent, experts added. %% The availability of skilled artisans at low cost and base metals, faux gems and stones has encouraged the sector’s growth in India, %% Fashion jewellery was always big in the west unlike in India where buying jewellery is seen as more of an investment. But the trend is changing as the new generation is travelling more than ever before and they prefer to change jewellery along with their clothes. %% Global brands like D&G and Juicy Couture occupy the top end and Guess, Fossil are popular with their bracelets, charms, pendants in the segment in India. %% The beauty of fashion or costume jewellery is that the consumer can buy jewellery, which they can purchase and wear anytime, anywhere. %% “We have been selling costume jewellery for a while now from the entire Anjali Jewellers outlet and have another chain of stores by the name of Nnoni,” Chowdhury added. %% “All our stores whether its Anjali or Nnoni have an extensive collection of costume jewellery and we believe if one has the intention to buy, one cannot leave empty handed because we have jewellery to suit every pocket. Fashion or costume jewellery is very important for us as there is an untapped market for it. We have 19 stores of Nnoni which sell exclusively costume and silver jewellery other than the 11 Anjali stores. We intend to pursue the costume jewellery segment very aggressively,” he added. %% While for Senco the collection starts from Rs 500, which has diamond, kundan, polka, and vilandhi looks. Talking about the trends now, Sen said for ethnic wear, long and round balis are popular and for western wear long earrings and small earrings for daily wear are in now. “Design is the only way to convince customers,” he added. %% Fashion jewellery in important at Senco’s portfolio as it looks at new generation and stylish people. “It is a growing segment but small compared to gold and diamonds,” he said. %%

The fashion jewellery customers prefer bold and expressive jewellery- be it colour, embellishment or size. The segment which buys such kind of jewellery is huge because the age group is anywhere between 12-60 years, noted a stylist. %% “My jewellery is expensive despite having no gold or silver or precious stones. Prices start from £200 for a pair of earrings and can go up to £3,000 for a neckpiece,” said a costume jewellery designer. %% However not all jewellers are making a beeline to offer this category. But in order to increase their top line, the bottom-line is seen to work on the gold base by buffing or electroplating so that it looks fuller and chunkier. The gold content will be less in this category. %% We make fashion category of jewellery but it’s in gold only with diamonds and semi-precious or precious stones, said another jeweller. %% “It would be wrong to compare costume jewellery with gold and diamond because both are precious products and honestly in my opinion there is no substitute to gold and or even diamonds as we all know, it is a very rare stone,” concluded Chowdhury. %%

The expansion of costume jewellery market is increasingly drivenby costlier gold and global fashion trends. With the facility of adorning the latest jewellery trends at a minimal cost, costume jewellery is winning numerous hearts. Sandhya Sutodia finds out how consumers are moving to fashion jewellery to get variety within tight budget and change jewellery along with their clothes. %% With gold prices pushing northward aggressively from Rs 12,500 per 10 gm in 2008 and currently ruling at around Rs 29,000, leading jewellery retailers have also entered into fashion jewellery business in a big way to cater to the growing fashion-conscious young India apart from selling costliest gold and diamond sets. %% Experts of the opinion that high import duty coupled with less availability of gold has made jewellers to reorient its business strategy to remain profitable. With import duty as high as 10 per cent and premium going up due to scarcity of gold in the market, pure gold jewellery business is losing its sheen, Kolkata-based jewellers said. “The demand for this sort of fashion jewellery is increasing in India,” experts added. %% It is learnt that big jewellers like Gitanjali has taken the decision to cut down its pure gold jewellery business by 60 per cent and step up diamond and gemstone business by 40 per cent. To cater to the growing fashion-conscious young India, Gitanjali has entered into fashion jewellery business in a big way. %% Anargha Chowdhury, Director, Anjali Jewellers talking about the popularity of costume jewellery among the jewellers and customers said, “The reason for consumers and jewellers choosing fashion jewellery is that it looks a lot like real jewellery and one can easily wear them to any occasion.” %% While Suvanker Sen, Executive Director, Senco Gold, feels jewellers are moving into fashion jewellery to ensure that consumers continue to visit their store for small purchases as well. He added that demand is going up for variety. %% Customers preference are changing from fine jewellery to relatively inexpensive but equally flashy costume jewellery, feels vice-chairman, Gems and Jewellery Export promotion Council (GJEPC), Pankaj Parekh. %%

Imitation jewellery is largely made of brass, cast iron, nickel, plastic beads and stones, instead of precious metals and gems. It does not have resale value and is available at a range of less than Rs. 500 to any price band depending on the usage of the metal and stones, Ashok Kumar Bengani, President, Calcutta Gem & Jewellers Welfare Association (CGJWA). %% Gitanjali uses brass, steel, and silver with semi-precious stones for fashion jewellery to lower the entry barrier further and reach out to a broader customer base, it is further learnt. %% The demand for costume jewellery is growing and is expected to touch Rs 11,000 crore by 2014, say experts. Increased adoption of the costume jewellery category, expansion in product offerings is expected to drive growth to nearly 20 percent, experts added. %% The availability of skilled artisans at low cost and base metals, faux gems and stones has encouraged the sector’s growth in India, %% Fashion jewellery was always big in the west unlike in India where buying jewellery is seen as more of an investment. But the trend is changing as the new generation is travelling more than ever before and they prefer to change jewellery along with their clothes. %% Global brands like D&G and Juicy Couture occupy the top end and Guess, Fossil are popular with their bracelets, charms, pendants in the segment in India. %% The beauty of fashion or costume jewellery is that the consumer can buy jewellery, which they can purchase and wear anytime, anywhere. %% “We have been selling costume jewellery for a while now from the entire Anjali Jewellers outlet and have another chain of stores by the name of Nnoni,” Chowdhury added. %% “All our stores whether its Anjali or Nnoni have an extensive collection of costume jewellery and we believe if one has the intention to buy, one cannot leave empty handed because we have jewellery to suit every pocket. Fashion or costume jewellery is very important for us as there is an untapped market for it. We have 19 stores of Nnoni which sell exclusively costume and silver jewellery other than the 11 Anjali stores. We intend to pursue the costume jewellery segment very aggressively,” he added. %% While for Senco the collection starts from Rs 500, which has diamond, kundan, polka, and vilandhi looks. Talking about the trends now, Sen said for ethnic wear, long and round balis are popular and for western wear long earrings and small earrings for daily wear are in now. “Design is the only way to convince customers,” he added. %% Fashion jewellery in important at Senco’s portfolio as it looks at new generation and stylish people. “It is a growing segment but small compared to gold and diamonds,” he said. %%

The fashion jewellery customers prefer bold and expressive jewellery- be it colour, embellishment or size. The segment which buys such kind of jewellery is huge because the age group is anywhere between 12-60 years, noted a stylist. %% “My jewellery is expensive despite having no gold or silver or precious stones. Prices start from £200 for a pair of earrings and can go up to £3,000 for a neckpiece,” said a costume jewellery designer. %% However not all jewellers are making a beeline to offer this category. But in order to increase their top line, the bottom-line is seen to work on the gold base by buffing or electroplating so that it looks fuller and chunkier. The gold content will be less in this category. %% We make fashion category of jewellery but it’s in gold only with diamonds and semi-precious or precious stones, said another jeweller. %% “It would be wrong to compare costume jewellery with gold and diamond because both are precious products and honestly in my opinion there is no substitute to gold and or even diamonds as we all know, it is a very rare stone,” concluded Chowdhury. %%

The expansion of costume jewellery market is increasingly drivenby costlier gold and global fashion trends. With the facility of adorning the latest jewellery trends at a minimal cost, costume jewellery is winning numerous hearts. Sandhya Sutodia finds out how consumers are moving to fashion jewellery to get variety within tight budget and change jewellery along with their clothes. %% With gold prices pushing northward aggressively from Rs 12,500 per 10 gm in 2008 and currently ruling at around Rs 29,000, leading jewellery retailers have also entered into fashion jewellery business in a big way to cater to the growing fashion-conscious young India apart from selling costliest gold and diamond sets. %% Experts of the opinion that high import duty coupled with less availability of gold has made jewellers to reorient its business strategy to remain profitable. With import duty as high as 10 per cent and premium going up due to scarcity of gold in the market, pure gold jewellery business is losing its sheen, Kolkata-based jewellers said. “The demand for this sort of fashion jewellery is increasing in India,” experts added. %% It is learnt that big jewellers like Gitanjali has taken the decision to cut down its pure gold jewellery business by 60 per cent and step up diamond and gemstone business by 40 per cent. To cater to the growing fashion-conscious young India, Gitanjali has entered into fashion jewellery business in a big way. %% Anargha Chowdhury, Director, Anjali Jewellers talking about the popularity of costume jewellery among the jewellers and customers said, “The reason for consumers and jewellers choosing fashion jewellery is that it looks a lot like real jewellery and one can easily wear them to any occasion.” %% While Suvanker Sen, Executive Director, Senco Gold, feels jewellers are moving into fashion jewellery to ensure that consumers continue to visit their store for small purchases as well. He added that demand is going up for variety. %% Customers preference are changing from fine jewellery to relatively inexpensive but equally flashy costume jewellery, feels vice-chairman, Gems and Jewellery Export promotion Council (GJEPC), Pankaj Parekh. %%

Imitation jewellery is largely made of brass, cast iron, nickel, plastic beads and stones, instead of precious metals and gems. It does not have resale value and is available at a range of less than Rs. 500 to any price band depending on the usage of the metal and stones, Ashok Kumar Bengani, President, Calcutta Gem & Jewellers Welfare Association (CGJWA). %% Gitanjali uses brass, steel, and silver with semi-precious stones for fashion jewellery to lower the entry barrier further and reach out to a broader customer base, it is further learnt. %% The demand for costume jewellery is growing and is expected to touch Rs 11,000 crore by 2014, say experts. Increased adoption of the costume jewellery category, expansion in product offerings is expected to drive growth to nearly 20 percent, experts added. %% The availability of skilled artisans at low cost and base metals, faux gems and stones has encouraged the sector’s growth in India, %% Fashion jewellery was always big in the west unlike in India where buying jewellery is seen as more of an investment. But the trend is changing as the new generation is travelling more than ever before and they prefer to change jewellery along with their clothes. %% Global brands like D&G and Juicy Couture occupy the top end and Guess, Fossil are popular with their bracelets, charms, pendants in the segment in India. %% The beauty of fashion or costume jewellery is that the consumer can buy jewellery, which they can purchase and wear anytime, anywhere. %% “We have been selling costume jewellery for a while now from the entire Anjali Jewellers outlet and have another chain of stores by the name of Nnoni,” Chowdhury added. %% “All our stores whether its Anjali or Nnoni have an extensive collection of costume jewellery and we believe if one has the intention to buy, one cannot leave empty handed because we have jewellery to suit every pocket. Fashion or costume jewellery is very important for us as there is an untapped market for it. We have 19 stores of Nnoni which sell exclusively costume and silver jewellery other than the 11 Anjali stores. We intend to pursue the costume jewellery segment very aggressively,” he added. %% While for Senco the collection starts from Rs 500, which has diamond, kundan, polka, and vilandhi looks. Talking about the trends now, Sen said for ethnic wear, long and round balis are popular and for western wear long earrings and small earrings for daily wear are in now. “Design is the only way to convince customers,” he added. %% Fashion jewellery in important at Senco’s portfolio as it looks at new generation and stylish people. “It is a growing segment but small compared to gold and diamonds,” he said. %%

The fashion jewellery customers prefer bold and expressive jewellery- be it colour, embellishment or size. The segment which buys such kind of jewellery is huge because the age group is anywhere between 12-60 years, noted a stylist. %% “My jewellery is expensive despite having no gold or silver or precious stones. Prices start from £200 for a pair of earrings and can go up to £3,000 for a neckpiece,” said a costume jewellery designer. %% However not all jewellers are making a beeline to offer this category. But in order to increase their top line, the bottom-line is seen to work on the gold base by buffing or electroplating so that it looks fuller and chunkier. The gold content will be less in this category. %% We make fashion category of jewellery but it’s in gold only with diamonds and semi-precious or precious stones, said another jeweller. %% “It would be wrong to compare costume jewellery with gold and diamond because both are precious products and honestly in my opinion there is no substitute to gold and or even diamonds as we all know, it is a very rare stone,” concluded Chowdhury. %%