Economy

Silver cow to take centre stage at jewellery expo

Suresh P. Iyengar Mumbai | Updated on August 03, 2011

silvercow   -  Business Line

Bulls and bears can slug it out on the bourses, but it is the sacred cow that will take centre stage at the forthcoming India International Jewellery Show (IIJS) beginning Thursday.

Silver Emporium, one of the leading silver artefact makers, will showcase a cow made of silver. It weighs 40 kg and measures four-and-a-half feet in length and 40 inches in height. Made of sterling silver (925 purity), the cow comes with a price tag of Rs 30 lakh.

In the business for last three decades, Silver Emporium will put on display a silver car of 10 kg. Priced at Rs 6 lakh, the sterling silver car costs as much as a Maruti Swift or Hyundai i10. A silver fountain weighing 45 kg with a dimension of 42 inch in height and 32 inch in breath will also be available for Rs 35 lakh. Last year, the company had made an elephant in 45 kg of silver.

BUYBACK GUARANTEE

The sky rocketing silver prices seems no deterrent for people with deep pockets.

Mr Rahul Mehta, Managing Director, Silver Emporium, said the demand for silver artefacts has not been affected much by the price rise. In fact, customers have to wait for 7-8 months after placing their orders for bulk purchases.

“We expect the southern markets to show a keen interest in the silver cow. Most big bungalows have a statue of cow in the centre of the house as they are worshipped like God down south,” says Mr Mehta.

Considering that silver prices have risen to Rs 65,000 a kg from Rs 25,000-level last year, the investment in silver artefact seems worth its penny. All Silver Emporium products come with a buyback guarantee.

“We are willing to buy back even if the customer cannot produce the bill. It is pointless to expect customers to preserve the bill till they decide to sell it off after five or six years,” said Mr Mehta.

SILVER JEWELLERY

With growing demand, the company has chalked out plans to double its current conversion (into silver products) capacity of 10 tonnes a year by setting up a new manufacturing plant in Jaipur. It also plans to enter the retail segment by launching its own branded showroom in Bangalore, Chennai, Hyderabad and Kerala. At present, the company sells its products through 400 stores across India.

Silver Emporium also plans to launch new silver jewellery brand targeting the lower end of the market. The company will launch Bureau of Indian Standard-certified silver jewellery priced between Rs 500 and 15,000, targeting the young students.

Published on August 03, 2011

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