The last quarter of the calendar year is always an exciting time for the jewellery sector - the festive season of Dhan Teras, Diwali, Navratri, Christmas and New Year, and the wedding season combine to give a big boost to jewellery sales. Diamond jewellery is particularly in demand around this time.
This festive season has been no different, with sales booming, the ticket size of the jewellery going up and the younger generation opting for style and designs over caratage. Globally, diamonds have been facing inflationary pressures and sourcing prices have shot up in a short span of time. But none of that has made a dent on sales - customers want their diamonds, and they are ready to pay any price for them.
Explains Nisha Mehta of TH Jewels, Mumbai, "Diamond jewellery is selling very well this festive season. The demand for top-end goods and classics is at an all-time high, and innovative designs are commanding a premium. The clientele has changed over a period of the past few years. The middle sector is gone. What we see instead is that customers either want value for money, everyday goods or super luxury. The genuine buyer is aware of inflation, and is willing to pay the price for diamonds. Customers are the rise in prices, welcoming but yes, the price hike is definitely making it more difficult for us to offer new designs as we have limited goods available."
High prices not making a difference to sales
Denne historien er fra September - October 2022-utgaven av Diamond World.
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Denne historien er fra September - October 2022-utgaven av Diamond World.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Jewellery & Gem WORLD Hong Kong 2024 Optimism and Resilience in a Changing Market
With Indian buyers taking centre stage, Jewellery & Gem WORLD Hong Kong 2024 showcased India's growing influence in the diamond industry. The event demonstrated the resilience of the diamond industry, with De Beers expressing optimism about the recovery of natural diamonds
G7 APPROACH TO DIAMOND TRACEABILITY HAS CONCEPTUAL DEFICIENCIES: DR MZEE FULA-NGENGE
African diamond-producing nations are increasingly seeking their place in the sun, and are no longer shying away from demanding their rightful share of the revenues generated from diamond extraction. Dr M'zee Fula Ngenge, Chairman, African Diamond Council, talks to Suneeta Kaul about the most pressing issues pertaining to the African diamond industry the less than effective role of local diamond trade administrators, the G7's approach to traceability, the role of technology in improving the functioning of the continent's diamond industry, the limitations of the Kimberly Process, and more
CUSTOMIZATION AT THE FOREFRONT OF THE SURGE IN LGDS
Lab-Grown Diamonds are reshaping luxury, offering personalization possibilities through cutting-edge technology; the shift to customization is being led largely by millennials and Gen Z, who value innovation more than tradition
THE RISE OF DUBAI AS A DIAMOND TRADING HUB: IMPACT ON THE GLOBAL TRADE, AND IMPLICATIONS FOR INDIA
Over the past few years, Dubai has rapidly become one of the world's leading diamond trading hubs. Leveraging its strategic location, state-of-the-art infrastructure, pro-business taxation policies and global connectivity, the city now rivals traditional centres such as Antwerp and Mumbai, attracting major players from across the globe. Suneeta Kaul takes an in-depth look at the city's emergence as a diamond trading powerhouse, and the implications this has for India
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E-commerce is steadily finding its way into the function of diamond jewellery retail the world over, in spite of several challenges and obstacles. Retailers are taking steps to overcome the critical challenges of trust and personal connections that are easier to establish in a brick-and-mortar world, and are seeking to establish these factors in a digital scenario
INDIA TAKES CENTRE STAGE As China's Demand Ebbs, India Rises as the New Diamond Powerhouse
India is establishing itself as a global diamond powerhouse, thanks to its burgeoning middle class, a rising disposable income, unmatched craftsmanship, skilled labour force, cutting-edge technology, and strategic collaborations. Anjana Vaswani takes an in-depth look at these factors that collectively position the country to mark its dominance in the diamond industry
GJEPC's IIJS Tritiya: A Grand Showcase of Indian Jewellery Excellence
The latest edition of IIJS Tritiya surpassed its predecessor in scale and sophistication, boasting a staggering 900 exhibitors and 1,900 stalls spread across 40,000 square meters. Serving as an expansive marketplace, it facilitated crucial connections and collaborations for industry players, drawing over 15,000 pre-registered visitors from 500 cities in India and 60 countries, which emphasizes its global importance.
THE NEW JEWEL IN TOWN: LAB-GROWN DIAMOND JEWELLERY TAKES CENTRE STAGE
Lab-grown diamond jewellery is not a fad. While many Indian retailers choose to be circumspect about jewellery laden with labgrown diamonds, which are chemically, optically and physically identical to natural diamonds, there is most definitely a revolution happening in this space, driven by demand backed by sheer affordability
Signet Jewelers Reports 6.3% Decline in Q4
Signet Jewelers reported a 6.3% decline in total sales to $2.5 billion during the quarter that ended February 3, 2024. Same-store sales were down 9.6%, compared to the previous year.
WDC Fixes Sept 21 as Deadline for Revised System of Warranties
The World Diamond Council’s revised System of Warranties is set to reach its first critical deadline on September 21, 2024.
