Tanya Rastogi, Director, Lala Jugal Kishore Jewellers, Lucknow, explains the reasons why she will look to stock up on gold jewellery for the next two quarters.
What are you planning to source at the show?
This time, the demand for gold is even higher, therefore we will be focusing more on gold jewellery segment.
We are expecting a positive season ahead of us and so everything needs to be sourced – gold, diamond, and polki jewellery. But the focus will be on gold jewellery.
What percentage of your annual sourcing requirements do IIJS Signature and IIJS premiere account for?
I’d say, roughly 20% to 30% of the yearly consumption is bought at IIJS. However, more than the percentage, we must understand that this sets the tone for buying for the entire year, and only after whatever is bought at the IIJS do we launch our campaigns. So, it does not only define what is being booked there, but it also defines what has to be bought during our second and third orders.
Keeping the gold price in mind, will you look to source more lightweight items this time?
That depends on the kind of variety. As of now, lightweight gold jewellery is in demand, but even heavy gold sets have good acceptance because of the returns on high metal rates. So, if it is pure gold jewellery without any Kundan or any other additions, we would be interested in booking it.
What are your customers looking for these days?
We have realised after the pandemic that, if anything, jewellery has a lasting intrinsic value. No matter whether the price is high or low, demand for heavy gold jewellery is the preferred choice of our customers. Even if customers have a limited disposable income, they are likely to buy gold jewellery right now.
What is your outlook for jewellery retail sales in 2021?
Last several months were not good for us due to the lockdowns and curfews. Consumer demand was pent up, and in the coming quarters, we are hoping for good sales. Also, most weddings havebeen postponed to the last quarter this time due to the second wave. So I guess we will have a promising 2021 in terms of jewellery.