The Hindu Business Line : Rand Refinery to take jewellery design contest global

RAND Refinery, a sponsor of the nationwide gold jewellery design contest, AuDITIONS, says it is trying to take the contest global and ultimately make it the gold jewellery market's equivalent of the Oscars.

Speaking to Business Line here, Mr Chris Kenny, Director (Global Markets), said Rand was trying to build the market for the gold it refines. The South Africa-based company, which is the world's largest single-site refining and smelting company, according to him, is preparing to trade its gold as a brand and not as a commodity for a future in which legislation in India changes and manufacturers of jewellery may be able to approach the refinery directly.

Mr Kenny said the sponsorship of the contest was a way to get into other areas and services in the country as and when conditions allowed them to do so. Apart from refining and smelting, its services include sales and marketing, assay and semi-fabricated forms such as sheets, wires and strips. Gold bullion is sold through international bullion banks to jewellery manufacturers. As the bars are melted for use, the refinery brand loses its importance, but Rand hopes to build its brand for the future, he explained. The refinery is also supplying gold to some jewellers who will craft prize-winning designs.

The theme for the jewellery design contest, which got underway last September, was `ethno-contemporary' and entries saw designs in which gold would be combined with wood, leather and rubber, Mr Kenny said. The contest is also held in South Africa and Brazil. According to Mr K. Shivram, Vice-President, World Gold Council (WGC), Indian design has a long way to go considering it caters to a market that consumes 800 tonnes of gold a year. India is turning into a design-oriented market unlike earlier, when any chunky piece of jewellery would do, he said. The jewellery trade balks at hiring designers because of the expense but varied design can help grow the market, he added. This year, the contest received 1,500 entries, of which 40 were short-listed and three will be picked at the grand finale in March, after which they will be exhibited at the India International Jewellery Fair.

The other sponsors of the contest are AngloGold Ashanti, one of the world's largest gold producers, the D'damas brand of gold and diamond jewellery, and World Gold Council.