Vipul Sutariya, Director, Dharmanandan Diamonds Pvt. Ltd. in an email interview paints a positive picture for US diamond jewellery demand for the remainder of the year.
Dharmanandan Diamonds, widely known as DDPL, is synonymous with innovation in diamond and jewellery manufacturing and caters to customers worldwide. A long-term client of both De Beers and Alrosa, DDPL, with 40 years behind it, ensures an enriched customer experience with its products and innovative solutions.
DDPL crafts over half a million carats of polished diamonds annually, ranging from 0.18 carat to 15 carats in D-M colour and IF-I3 clarity, in BSI-certified premises spread across 500,000 square feet, by about 5,000 skilled employees. Known for its quality and innovation, the company has offices in all major diamond hubs like the USA, Europe, the UAE, Hong Kong, China and across India.
What is your outlook for diamond/gemstone/jewellery sales this year?
So far, the year 2021 is good for all of the segments and hopefully the momentum will continue throughout the year.
Are there any particular categories or price-points that you think will do well or be at least sustainable over the rest of the year?
If we look at the consumer spending in the last six months of the year, I think high-end jewellery will do better. Also, now USA and parts of Europe have opened up, therefore mall-based, middle range products should perform well, too.
How is the US bridal jewellery segment performing? Are brides opting for centre stones other than diamonds?
Bridal diamond jewellery is performing well in the US. For engagement and wedding rings, goods from 0.50 carat to 5.00 carats, D-I, VS-SI are doing great.
What are the most favoured price points?
The most sought-after price range is from $6000 to $10,000.
What are the occasions driving jewellery demand? Serious or relationship type jewellery, or casual, more self-purchase kind?
It’s a little bit of both. Relationships or occasional and self-purchase are the main drivers of jewellery demand.