How have Jewellery Companies fared in the time of Demonetization?

After Narendra Modi dropped the demonetization bomb a few months back, there was a dip in gold sales. However, jewellery companies in the organised sector posted decent growth in the quarter between October and December.

According to insiders, there were two major factors that drew consumers. The first factor was that gold prices dropped by 11% to end the quarter at Rs 27,900 per 10g. The second factor was that there was a shift in the behaviour of consumers. They opted for more light weight gold ornaments that were diamond studded as opposed to heavy gold jewellery.

The shift in consumer behaviour allowed big brands like Titan and Gitanjali Gems, which are known for their gold jewellery collections, to focus their attention on retail as opposed to bulk business. Titan witnessed a 13% increase in net profit to post Rs 255.7 crore, on sales growth of 13.9%.

However, analysts are of the opinion that gold prices will continue to rally owing to their three-month highs on the domestic and international exchanges. Some of the analysts are of the view that gold prices in India can improve and hit the Rs 28,800 per 10-gram mark in the next quarter.

Therefore, it can be said that gold has both suffered and gained from the demonetization move. While some believe that the move has been neutral for gold, others believe the demand went up after demonetization. However, the cash crunch dented gold purchases significantly once the full impact of demonetization hit. How will gold jewellery collections fare in the next quarter? Wait and watch.

New Wedding Jewellery Trends

With the wedding season in full flow, couples are finding new ways of expressing their love. A number of brides-to-be are choosing a large stone set on a thin diamond band. Diamond halo engagement rings are among the top sellers.

However, it is pertinent to note that wedding and engagements rings aren’t the only wedding jewellery in demand. There is also an added attraction surrounding cufflinks, tie bars, money clips and watches, especially for groomsmen.

As far as the bridal party is concerned, brides are on the lookout for wedding jewellery that can be worn after the wedding. Also, bridesmaids are opting for pearls to complement their bridesmaid dresses. Diamond jewellery is still popular. The latest gold jewellery designs are also a favourite among brides.

Also, the trend of halo engagement rings shows no signs of slowing down in 2017. In fact, halo diamond rings are slowly becoming the preferred choice over traditional solitaire, especially among young couples. Therefore, this trend is not likely to lose steam anytime soon. Also, sapphire engagement rings are making their presence felt despite diamonds still being a preferred choice among consumers.

A lot of couples are also opting for rose gold, even as it makes its way into the bridal jewellery market. Also, a new trend is silently emerging, that of the stackable “third tier” rings. This includes the diamond or gemstone eternity rings that are placed along with the wedding band and engagement ring. All these trends ooze luxury. However, the latest gold jewellery design is also gaining traction.

Jewellery Essentials for Every Maharashtrian Bride

The Mundavalya

The Mundavalya is a unisex ornament that is worn by both the bride and groom. It comprises a string (sometimes two) of pearls that is horizontally across the forehead. Two additional pearl lines drop from both sides of the forehead to the shoulders. The mundavalya is usually tied once the bride is set to get married.

The Tanmani

The tanmani is an important part of Maharashtrian wedding jewellery. It basically is a choker with 3-4 pearl lines that are placed on it. It is made up of a combination of off-white and coloured pearls. This juxtaposition is what makes this ornament stand out. The tanmani usually comes with a resham string that holds it. It can be adjusted from the back.

Chooda

The chooda that Maharashtrian brides wear are quite different from the red chooda. The glass bangles come in green, representing fertility, creativity and new life. It is part of the custom for brides to wear these bangles in odd numbers, and in different numbers on either hand. Apart from the green bangles, gold bangles called patlya are also worn.

The bride wears the chooda amidst much celebration after the mehendi. The patlya and tode, often gifted by the groom’s family, depict the financial status of the family. Solid, heavy gold rather than intricate carvings are usually preferred.

Vaaki

The vaaki or armlet is also an important part of Maharashtrian wedding jewellery. It is worn on each arm. However, quite a few brides just wear it on one arm. The vaaki design includes flat, solid gold studded with precious stones.