The Hindu Business Line : Razzle dazzle

Going by the number of advertisements on the telly and in print, it appears as though diamond jewellery has become an `every woman' product, even within the reach of the middle class.

Jewellery stores are vying with each other to launch diamond collections — Tanishq, Asmi, D'damas, Gilli, Nakshatra, Adora, Oyzterbay and Cygnus are some of the big names, besides the thousands of jewellers in small towns and big cities alike in the race to aggressively market diamond jewellery alongside the traditionally popular gold ornaments.

In recent years, India has emerged as a world jewellery hub and is now recognised as the largest manufacturer of cut and polished diamonds. Employing nearly one million people, in 25,000 manufacturing units located mostly in Gujarat and Maharashtra, the industry accounts for nearly 65 per cent of the rough diamonds mined globally each year.

Another reason attributed to the sudden interest in the precious stone is the liberalisation of the rough diamonds market since 2001, aided by a strong international marketing network.

By the end of last year there was a 100 per cent increase in trading activity.

Have it, flaunt it

"The upwardly mobile double-income population has got new aspiration. The money hoarding culture of the past has diminished. Today couples want to flaunt their richness and possessing diamonds is a statement of having `arrived'," says Poonam Soni, Mumbai-based jewellery designer.

Even until a decade ago, diamonds were considered exorbitant and unaffordable, but today it is the ultimate gift for loved ones, and one doesn't have to pay a fortune for it.

Though gold still rules the popularity charts, it is diamonds for the fashion-conscious woman who wants to be seen either with diamond studs or a single pendant dangling on a gold chain. Thanks to the aggressive marketing efforts of Diamond Trading Company (DTC) and its band of sight holders (suppliers of DTC's rough diamonds to the retail trade), diamond buying is increasingly spreading from the upper crust to the `just arrived'.

"Women from the upper middle class who are reluctant to wear heavy gold jewellery go for diamonds. Our counter for earrings and finger rings, which cost between Rs 15,000 and Rs 25,000, do maximum business," says Inderjeetkaur Brar, a senior sales executive at Chintamani Jewellers in Thane, Maharashtra.

Wedding stones

Wedding diamond sets priced upwards of Rs 1.5 lakh are gaining in popularity among middle class families.

An equally important factor favouring diamond sales is the changing retail scenario. The present-day woman prefers to window-shop to get a feel of the jewellery range rather than spend hours looking over the pieces in a traditional jewellery shop.

And today, many women can afford to take an independent buying decision. Especially in a city like Mumbai, girls are ready to experiment with designs and try them off the shelves.

One major trend is that of young buyers in their early 20s. With a hefty salary packet they don't think twice before buying a diamond pendant or ear studs costing around Rs 5,000.

"Diamonds have not become cheap. The `carat' is still as costly as ever. Now as the buying capacity has increased, the marketing is being done aggressively so the customers get attracted," explains Meenal Bhatia, a young Mumbai-based jewellery designer.

The country currently has 35 retail jewellery brands.

The ambience at centrally cooled departmental stores, lifestyle stores and malls are also helping heat up the jewellery market.

And the salespersons readily display even the costliest jewellery, secure in the knowledge that the mall's security system is keeping a watch.

Making the cut

Tips for the diamond shopper:

Cut: When choosing a stone hold it against light, see how the light dances around. It should throw out a rainbow of colours.

Carat: This is the measure of weight not size. A stone may have a higher carat weight than a bigger looking one with a shallower cut. Look at different designs and mountings.

Colour: There are over 20 subtle grades of colour from exceptional white to tinted colour. Be sure to try on the jewellery as the colour may look different when worn.

Clarity: Naturally occurring minerals or fractures known as inclusions provide uniqueness to each diamond and affect its value. If the diamond comes with a certificate, check where and how many inclusions exist.

Solitaire diamonds: Choose a size that makes an impact but is still not overtly ostentatious so that it can be worn at all times. Also make sure you insure your solitaire. They definitely don't come cheap!

Diamond dials

Piaget's secret ring watch in 18-carat white gold set with 292 brilliant cut diamonds

Longines' 18-carat white gold wristwatch set with 26 Top Wesselton WS diamonds and 30 blue sapphires

Givenchy's watch set with 120 diamonds beautifully set on its round bezel

Aigner's stylish horseshoe shaped case set with 32 diamonds and another 50 diamonds dazzling on a genuine mother-of-pearl dial

Rolex's watches set in 18-carat yellow gold with pave-set diamond dials, Roman numerals in black enamel and a bezel set with two strings of brilliant diamonds

Versace's diamond-set, scratch resistant, 30-meter water-resistant timepiece in a stainless steel or yellow gold-plated case.

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