The Hindu Business Line : Gold and diamonds galore

Light and easy, yet tasteful and fashionable. That seems to be the buzzword in the jewellery business, today. And what better time than the festive season to catch up on this trend?

Contemporary jewellery with a traditional touch; jewellery that one can wear to work as well as a puja or a family get-together — this is what consumers are asking for this festival season. That would mean, chunky gold jewellery is on its way out, and lightweight jewels are in, in a big way.

Walk into any jewellery shop this festival season and you will definitely find an array of lightweight jewellery collections awaiting you.

Lightweight diamonds are in

The hot favourites this year, according to Vijay Jain, Chief Executive Officer, Intergold, are going to be lightweight diamonds. In fact, almost all the jewellery chains across the country have a special diamond collection for this festival season.

While Intergold has launched its Satine Collection, inspired by the jewellery worn by Nicole Kidman in the film Moulin Rouge, along with a range of diamond-studded tennis bracelets and Eternity Bangles, also diamond-studded.

Chennai-based Prince Jewellery has launched the Inseparable Diamond Collection, which is supposed to be an assortment of a number of small diamonds that give the look of a solitaire diamond.

Similarly, the Chennai-based Mehta Jewellers also has launched a collection of lightweight diamond earrings and pendants, along with its coloured stones jewellery. "Diamonds are definitely the future of the jewellery industry in India. With a lot of small and low-cost diamonds entering the market, the desire of the consumers to own diamonds is much more than owning plain gold jewellery," says Tushar Mehta, Trustee, Mehta Jewellers.

Jewellery, no longer an investment

Commenting on the jewellery usage patterns, Princeson Jose of Prince Jewellery, says that people no longer consider jewellery as an investment. "People buy jewellery to wear and not to store. Therefore, there is a distinct preference for lightweight jewellery, which they can wear regularly. There is a segment which still believes in buying jewellery for investment purposes, and they mostly go in for gold coins instead of chunky jewellery," says Jose.

Intergold has also launched a Swarna Mudra collection, which is based on a Rajasthani art form called Madana.

Designs matter

Sonal Ramrakhiani, Brand Manager, Tanishq, feels that customers are beginning to lay more emphasis on designs rather than the weight of the jewellery. "Consumers are increasingly asking for design differentiated products. They want jewellery to match with their clothes as well as complement various occasions."

This demand for a variety in designs is yet another reason, says Jose, which has lead to a surge in the demand for lightweight jewellery.

In an effort to provide variety in designs, Prince Jewellery has launched a range of gold jewellery with wood as its base, which is priced in the region of Rs 20,000-Rs 25,000. They are also launching a range of lightweight convertible diamond jewellery, which will be in the form of a chain and pendant that can be worn to work.

The same set would be accompanied by a series of attachments with the help of which it can be converted into a dressy piece of jewellery that can be worn to a social gathering.

Similarly, Tanishq has also launched a series of lightweight collections, this year, in an effort to offer an array of design options to its consumers. "All our collections are lightweight, and can be worn to a puja as well as to a social evening," says Ramrakhiani of Tanishq.

The collections consist of an ethnic 22 karat collection with an antique polish, a diamond range with the traditional mango motif, a coloured enamel and diamond collection, diamonds and coloured stones jewellery collection and so on.

Is plain gold jewellery passé?

"Certainly not. Gold is an intrinsic part of Indian culture, it can never become passé," says Mehta of Mehta Jewellery.

However, he does admit that there is a definite shift from traditional to contemporary jewellery. "In fact, traditional designs are now being given a contemporary twist," says Mehta.

"The traditional gajjai (beaded necklace), for instance, has now become narrower and lighter. Similarly, the coins in a kasu malai (necklace made out of gold coins) have also become smaller. In fact, the motifs on the kasus have also been contemporarised," he adds.

Jose of Prince Jewellery adds, "Diamonds are definitely gaining popularity, but the affordability is restricted to the upper class. Therefore, gold continues to be the most sought after metal, and along with our lightweight diamond collections. We always have a lightweight gold collection every festival season which are light and more affordable."

In fact, with the gold prices dropping slightly from the recent high, the industry is quite upbeat about the festival season. "The price drop has come at the right time," says K. Shivram, Vice-President, World Gold Council.

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