{"id":1895,"date":"2020-10-15T17:31:35","date_gmt":"2020-10-15T12:01:35","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=1895"},"modified":"2020-10-23T14:58:27","modified_gmt":"2020-10-23T09:28:27","slug":"demand-resurgence-for-handcrafted-gold-jewellery","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/demand-resurgence-for-handcrafted-gold-jewellery\/","title":{"rendered":"Demand Resurgence for Handcrafted Gold Jewellery"},"content":{"rendered":"\n
\"\"<\/a>
Deepak Seth, Partner, SK Seth Jewellers<\/figcaption><\/figure><\/div>\n\n\n\n

As gold prices shoot up, demand for traditional jewellery in the bridal segment is reaching a new high. In the last six months or so, there have been no weddings and now with the lifting of the lockdown across several Indian states, weddings are taking place sans the regular grandeur. Wedding parties and the guest numbers have shrunk to align with the health and safety parameters, but the budget that was earlier spent on floral decorations, catering and more, is being diverted into jewellery. And that is good news for jewellery manufacturers.<\/p>\n\n\n\n

Deepak Seth, Partner, SK Seth Jewellers, Mumbai, reveals that demand is high these days for handcrafted gold jewellery in temple and traditional forms. Gold jewellery patterned with emerald and ruby beads is also popular as the younger generation prefers to accessorise it with the bridal lehengas. \u201cBrides, who inherit heirloom pieces, are keen to add additional jewellery pieces of similar antique finish, workmanship and designs,\u201d states Seth.<\/p>\n\n\n\n

\"\"<\/a>
SK Seth Jewellers<\/figcaption><\/figure><\/div>\n\n\n\n

Transparency at the retail level is up since demonetisation. Seth says that most parents who buy bridal jewellery for their daughters, prefer to receive proper bills and don\u2019t mind paying the extra 3% GST. \u201cThis is a very good sign for the industry, as the transactions are clean and clear.\u201d<\/p>\n\n\n\n

\"\"<\/a>
Anish Birawat, Director,
Chain N Chains
Jewels Ltd., Mumbai<\/figcaption><\/figure><\/div>\n\n\n\n

Complete gold wedding sets between 700 gm and 2 kilos are in demand these days. In the months to come, demand will only increase according to Seth as production levels are at 30%, while demand will touch 500%. Although karigars have returned, their efficiency in delivering goods on time has taken a slight beating.<\/p>\n\n\n\n

Anish Birawat, Director, Chain N Chains Jewels Ltd., Mumbai, emphasises that gold has time and again proved that it is a safe investment haven. \u201cIt\u2019s obvious that consumers\u2019 demand for gold jewellery is positive, but it will increase gradually. Since July, when the jewellery industry slowly opened up, we have seen month-on-month increment in sales.\u201d<\/p>\n\n\n\n

\"\"<\/a>
SK Seth Jewellers<\/figcaption><\/figure>\n\n\n\n

Challenges in the form of restricted travel, production due to karigar migration and implementing safety norms, were faced by one and all. \u201cThere was a huge labour problem then, but now as demand is rising owing to festive and wedding sales, we are seeing karigars coming back to work,\u201d comments Birawat.<\/p>\n\n\n\n

\"\"<\/a>
Mehta Gold<\/figcaption><\/figure><\/div>\n\n\n\n

The timing of the IIJS Virtual show is perfect, agree gold jewellery manufacturers. \u201cMumbai is still not normal, as local trains, the lifeline of the city, are still not functional,\u201d says Birawat.<\/p>\n\n\n\n

\u201cHowever, most other metros and cities across India have started working at near-normal levels, albeit under the shadow of Covid-19.\u201d The Virtual show will give the required impetus to business and get some traction in terms of sales, feels Birawat. IIJS is a huge brand and the virtual show will complement it. \u201cExhibitors have already started selling even before the show has begun, and we, too, have booked meetings and fielded queries.\u201d<\/p>\n\n\n\n

\"\"<\/a>
Sandeep Mehta,
Director, Mehta
Gold, Bengaluru<\/figcaption><\/figure><\/div>\n\n\n\n

Sandeep Mehta, Director, Mehta Gold, Bengaluru, says that almost 80% of their business is back to normal. Demand for bridal gold jewellery is going to firm up as the extraneous expenditure on weddings is going to be curtailed due to social distancing. \u201cNot just bridal, but traditional jewellery between 70gm to 150gm per piece is also in demand,\u201d says Mehta.<\/p>\n\n\n\n

Mehta Gold is functioning at 100% capacity and is introducing a better spread of collections that are large in form. \u201cWe have tried to bring in new designs in bigger formats, while keeping a watch on the gold weight.\u201d He adds that although the company has not booked a larger space at IIJS Virtual, they have been getting decent queries \u2013 and 80% of their buyers are regulars while 20% are new. \u201cIIJS Virtual is one a new way of doing business for all of us \u2013 perhaps, in the future, we may have a mix of virtual and physical formats for the trade shows.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

As gold prices shoot up, demand for traditional jewellery in the bridal segment is reaching a new high. In the last six months or so, there have been no weddings and now with the lifting of the lockdown across several Indian states, weddings are taking place sans the regular grandeur. Wedding parties and the guest…<\/p>\n","protected":false},"author":1,"featured_media":1908,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[91,80,100],"tags":[],"thb-sponsors":[],"class_list":["post-1895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-events","category-gold","category-in-focus"],"acf":[],"yoast_head":"\nDemand Resurgence for Handcrafted Gold Jewellery - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/demand-resurgence-for-handcrafted-gold-jewellery\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Demand Resurgence for Handcrafted Gold Jewellery - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"As gold prices shoot up, demand for traditional jewellery in the bridal segment is reaching a new high. 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