The Week On Jewell Market (6 Oct 2022)

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Orders worth ` 49407 crores placed at JEWEL MARKETJEWEL MARKET

IIJS Premiere 2022

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The38th edition of IIJS Premiere held in Mumbai from 4th to 8th August 2022, was highly successful in driving sales and fulfilling the expectations & objectives of 1790 exhibitors and 50,000 domestic & international visitors, according to an exhaustive research survey conducted by Hansa Research, a consumer insights and analytics agency, commissioned by GJEPC.

The survey, which measured the world’s second-largest show’s performance across key touchpoints that impact customer experience, found that 95% of the exhibitors

Hansa Report

● IIJS Premiere contributes almost a quarter of the country’s total B2B annual sales of gems and jewellery

● It took 3 days for exhibitors to exhaust stocks of Gold & Gold CZ Studded Jewellery, Silver Jewellery, and Diamond / Co loured Stones

● The average quantity booked by each plain gold jewellery ex hibitor per day was 62.10 kg

● The average quantity booked by each studded jewellery exhibi tor per day was 64.71 kg

● The average domestic visitor footfall per exhibitor stood at 41 per day.

● 92% exhibitors intended to participate in the next edition of IIJS Premiere

(sample size 948 exhibitors) expressed high satisfaction with overall experience at IIJS Premiere contributed by the quality of services, visitors, facilities & ambience, and machinery display.

Interestingly, IIJS Premiere contributes on average 23% of the country’s annual gems and jewellery sales, the study revealed. The total estimated value of orders booked at IIJS Premiere 2022 was ¹ 49407

crores, the report affirmed, and 92% exhibitors intended to participate in the next edition of IIJS Premiere.

Every year IIJS Premiere has been attracting 20% new visitors/buyers from all parts of the country. This year too at IIJS Premiere 2022 there were 13,133 new buyers from 4,820 companies who visited the show. Well-known, big retailers also found new suppliers as there were 400 new exhibitors at the show.

“A third party report on IIJS Premiere was essential to evaluate our efforts and figure where do we stand as an organizer.

As organisers we are elated to know that as per research , IIJS Premiere is instrumental in driving 25% of Annual sales of the industry and nearly Rs. 50,000 crores worth of orders were placed at the world’s second largest show. Our efforts will always be to provide the participants a much more fulfilling experience at IIJS Premiere year after year.”

“Stay informed and stay connected with us.”

Vipul Shah, Chairman, GJEPC

The week on

JEWEL MARKET

India Pavilion Sparkles at The Jewellery & Gem WORLD Show in Singapore

GJEPCorganised the India Pavilion at the Jewellery & Gem WORLD or JGW held from September 27 - 30, in Singapore. The Indian contingent had 86 companies exhibiting a range of products including gold and diamond jewellery, lab-grown diamonds or LGDS and LGD jewellery, loose diamonds, and gemstones. Vipul Shah, Chairman, GJEPC, welcomed P. Kumaran, the High Commissioner of India to the Republic of Singapore, and T. Prabhakar, First Secretary - Commerce, and gave them a tour of the show floor.

Vipul Shah, Chairman, GJEPC said, “The JGW Singapore is an important platform for Indian manufacturers, as Singapore and other nearby markets

QUOTES OF THE WEEK

like Hong Kong and China, contribute to more than 24% of India’s overall gem and jewellery exports. The show was an ideal for getting insights and trends required to cater to these markets in future.” Nilesh Kothari, Convener, International Exhibitions, GJEPC said, “The promotion of India-made gems and jewellery across the world is among the primary activities of the Council. Jewellery exports enjoyed a good run after the pandemic and it is necessary to sustain our promotional activities to gain a larger share of consumer spends. The Singapore show has been a good platform, providing business and networking opportunities with buyers from across the world, especially the Far East Markets.”

With our inaugural issue we are pleased to announce the launch of our new Weekly newsletter, the week on Jewel Market. Our first issue distributed at the beginning of October and we will be regularly creating original content each Week.

With these curated briefings, we hope to give readers inside access to what we have been researching, designing, building and thinking. We hope this will be a welcome addition to your inbox and encourage you to subscribe here.

Somasundaram PR Regional CEO, India

“The Indian retail jewellery market has seen several structural changes over the last decade, some driven by regulations and some by shift in consumer behaviour. While mandatory hallmarking, implemented in its final shape as defined, should provide a level playing field, national and regional chain stores are nevertheless set to gain market share in the current trend because of their access to credit and the large inventory they carry. Small players need to become more transparent and adapt technology faster if they have to gain similar access to credit and protect market share. On the other hand, manufacturing sector is only at the beginning of its much- needed transformational journey. Jewellery parks, some of which have already been established, will help address concerns about ethical standards and working conditions. The same can help eliminate barriers impeding the growth of manufacturing industry, further supporting demand positively. Bottom line is - the sector has grown but the wave of change facing the industry due to tech adoption and broader tax compliance in the economy can be a boon for those who are willing to transform and a significant risk for others whose business models continue to rest on legacy practices.”

Our goal with this newsletter is to create something that is candid, genuine and beneficial to our readers. We chose a monthly schedule to ensure that our correspondence is never overwhelming and that the content delivered is relevant.

As with most things that we do, we also view the creation of our own newsletter as a great opportunity to experiment. It will also be exciting to evaluate how our readers are engaging with our content as we go along. Thus, we will welcome any feedback and will seek to continually improve with each issue. It is through this ongoing experiment that we look to gain more knowledge, insight and ideas that we will pass along to our current and future clients.

“Stay informed and stay connected with us.”

Singapore and nearby markets contribute to more than 24% of India’s overall gem and jewellery exports, says GJEPC Chairman, Vipul Shah

FROM : JNI TEAM

The week on

JEWEL MARKET

Retailers appeal to the CM of Maharashtra for an extension on changing signboards

An amendment in the Maharashtra Shops and Establishments (Regulation of Employment and Condition of Service) Act of 2017 was recently enforced in Mumbai mandating the predominant use of Marathi –Devanagari script on signboards. In an appeal to Eknath Shinde, Hon’ble Chief Minister, Government of Maharashtra, Retailers Association of India (RAI) has requested for extension of the deadline till 31st of March 2023, while expressing full support for the government’s initiative to ensure that the font of the Marathi- Devanagari script should not be smaller than the font of the other scripts.

Expressing the concerns of retailers, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “Retailers are in full support of the government’s initiative to change the signboards prominently to MarathiDevanagari script, and are in the process of doing so. However, we are requesting ease of the deadline taking into consideration the logistical and financial constraints that the retailers have been facing to implement this change. We are hopeful that the Government of Maharashtra will be considerate and supportive of our appeal and grant the extension to complete this mandate.”

In the submission to the Hon’ble Chief Minister, RAI has highlighted the following operational & logistics challenges that are being faced by retailers in changing the signboards:

1. All kinds of retailers that are operating in multiple outlets at a large scale are finding it difficult to meet the deadline as changing the signboards is a time-consuming process.

2. Availability of suppliers is also being a challenge as such suppliers are not easily available.

3. Heavy rainfall during the ongoing monsoon season is also hindering retailers in recreating and installing the entire structure of the signboard.

4. Moreover, the retail sector was one of the worst-hit sectors during the

Kumar Rajagopalan, CEO, RAI

“Retailers are in full support of the government’s initiative to change the signboards prominently to Marathi- Devanagari script, and are in the process of doing so. However, we are requesting ease of the deadline taking into consideration the logistical and financial constraints that the retailers have been facing to implement this change. We are hopeful that the Government of Maharashtra will be considerate and supportive of our appeal and grant the extension to complete this mandate.”

pandemic. Thus, the immediate and complete change of all the signboards is becoming a financial burden on retailers from a cash flow perspective.

Retailers are hopeful that the Government of Maharashtra will consider their humble appeal and will give the desired extension for the implementation of the said order.

The retail industry has always been supportive of the central and state governments, taking forth their objectives and contributing to the progress of India’s economy. Retail in India continues to be one of the largest industries in the country contributing to over 10% of the GDP and providing employment to about 50 million Indians.

Ramit Kapur joins GSI as Managing Director, GSI India

GSI,

one of the largest gemological organizations in the world and a global leader in diamond and jewellery certification, announced today that Mr. Ramit Kapur joined the organization as Managing Director of GSI India. “I welcome Ramit to GSI,” says Debbie Azar, President and Co-Founder of GSI. “Our team is made up of leaders from the diamond and jewelry industry, and I am confident that Ramit’s enthusiasm, energy, and vast industry knowledge will help GSI achieve continued growth and success.”

Ramit Kapur has over 25 years of experience in the jewellery industry and almost two decades in the gemological laboratories sector specifically.

Throughout his career, Ramit has successfully guided cross-functional teams while launching products into new markets, developing business strategies for multi-channel sales, and fostering lucrative partnerships.

Mr. Ramit Kapur Managing Director

His professional drive and loyal relationships have brought him great success which he plans to continue at GSI.

“I am delighted to join such an esteemed and prestigious global organization,” says Ramit Kapur, Managing Director, GSI India. “The GSI team is building consumer trust and confidence in our industry through its integrity and innovation. I look forward to creating new opportunities that will be beneficial for GSI and for the entire diamond and fine jewellery industry.”

“Stay informed and stay connected with us.”

The week on

Senco Gold & Diamonds Launch Everlite’s Durga Jewellery Collection

The promotion of Everlite LightWeight Jewellery Collection that was held in the presence of the brand’s regional brand ambassador and Tollywood star Madhumita Sarcar also featured in the newly released peppy track rendered by Anupam Roy in Bengali and Hindi Senco Gold & Diamonds launched Durga Collection – a lightweight gold and diamond jewellery ensemble under its Everlite brand to celebrate the spirit of India’s biggest festival of ‘Durga Puja’ and Navratri. This Everlite Durga collection inspired from nature and elements surrounding this festival has on offer beautifully crafted rings, earrings, pendants and bracelets for the discerning choices of today’s independent woman, starting at a price of Rs 15,000 only.

On this occasion, a music video with a peppy Bengali and Hindi number was also released. Madhumita who is Senco Gold & Diamonds’ brand ambassador for Bengal is seen

donning the Everlite collection in the film during her fun and frolic moments beautifully complemented by Anupam’s soundtrack. This original song is an ode to the Everlite woman, embodied in the film by the ethereal Madhumita. She is ever confident, ever unforgettable, ever real. She touches every heart with her light, carefree, irresistible spirit. Senco celebrates this wonder of a woman with the exquisite Everlite collection of uniquely trendy jewellery, which is beautifully displayed in the film. Check the Hindi version of the song here https://youtu.be/IN40GfqLmAw and the Bengali version can be accessed here https://youtu.be/ HKwoJyHxKo0.

GJC Felicitates T S Kalyanaraman at 11th Edition of the NJA 2022

TSKalyanaraman, Managing Director, Kalyan Jewellers has been recognized with the ‘Anmol Ratna’ Award at the National Jewellery Awards 2022 by All India Gems and Jewellery Council, for his pioneering approach towards business and the ambitious entrepreneurial spirit taking brand Kalyan Jewellers to new heights. The award was received by Rajesh

Kalyanaraman, Executive Director of Kalyan Jewellers on behalf of T S Kalayanaraman, in the presence of Ashish Pethe, Chairman of GJC, Saiyam Mehra, Vice Chairman of GJC, Nitin Khandelwal, Convener of GJC along with other dignitaries namely Ashok Minawala, Haresh Soni, Sreedhar Gurram, Nilesh Shobhawat and Sunil Potdar. The felicitation was conducted at the 11th

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edition of GJC’s National Jewellery Awards by actress Chitrangada Singh.

The prestigious award recognizes an individual who has showcased longevity in the Indian gems and jewellery industry as well as acknowledges the individuals sustained achievements within the business community.

“Stay informed and stay connected with us.”

The week on

Nemichand Bamalwa Jewellers Launch ‘The Diwali Collection, 2022’

The

Diwali Collection, 2022 includes a paanch-lada or a five-layered necklace, Rajwadathemed necklace, elegant bangles, patlas and pachhelis, delicate finger rings, finely crafted earrings, maathapattis and others

The five day festival of lights, culminating with Diwali, begins with Dhanteras-a day where the timeless tradition of purchasing valuables is observed. For this auspicious occasion, Nemichand Bamalwa Jewellers has launched an assemblage of exclusive jewellery pieces, ‘The Diwali Collection, 2022’. The Collection features the beautiful harmony of polkis and diamonds, which come together to create the dance of aesthetic, with each intricate pattern and every exquisite design of the new collection. Whimsical, spectacular, extraordinary...? relishing the delicacy of gemstones patterned

into intricate styles. The mindfully crafted collection features refined necklaces like paanch-lada or five-line necklace, Rajwada-themed necklace, elegant bangles, patlas and pachhelis, delicate finger rings, finely crafted earrings, maatha pattis, among others. The collection is a symbol of nobility and aristocracy exhibiting an epitome of elegance and flawless artistry. Every piece is crafted with a keen eye on grandeur, finesse, craftsmanship and uniqueness to serve to the expectations of the connoisseur clientele. Come

and get adorned in the elegance of the resplendent festive collection to celebrate the quintessence of Diwali this year!

Tanishq Launches the Artistic ‘Alekhya’ Collection for Diwali

Inspired from Miniature and Pichwai painting styles, the collection features new-age meenakari motifs and a fresh colour palette

vivid hues, much like the ancient art form. Alekhya is a seamless blend of intricacy, heritage and traditional designs with modern sensibilities by giving new life to craftsmanship. The beauty of this collection lies in its inspiration from intricate paintings of Pichwai that depict tales from Lord Krishna’s life and Miniature Paintings – a notable tradition of Mughal, Rajasthani and Pahari courts.

This festive season, immerse yourself in the sheer magic of untold tales about Indian art and celebrate its golden lineage with glory. Tanishq the retail brand from the house of Tata has announced the launch of its festive collection ‘Alekhya’. Reminisce the beauty of age-old, rich Indian art forms as the magnificent ‘Alekhya’ collection takes its inspiration from the most notable Miniature and Pichwai paintings. The stunning festive collection reimagines royal splendor, and showcases the inspiration from Indian paintings which have been designed into stunning contemporary jewellery pieces. This year’s, Tanishq’s festive collection is a one-of-a-kind that exude intricate craftsmanship and

The exquisite collection features stunning designs which are inspired by stylized flora, detailed ornamentation, intricate strokes, lotus pods, vibrant colours, and ornate frames of these paintings. Each piece has been crafted with the use of variety of techniques like Piroi, Enamel on gold and Kundan techniques that add a hint of modern glamour to these pieces. The use of these techniques adds a touch of majesty as well as delicacy to these pieces. These works of artisanal wonder reflect gloriously on the canvas of an artist’s imagination and are an embodiment of embellishment, adding to the grandeur of decking out for the holiday season.

“Stay informed and stay connected with us.”

The week on

JEWEL MARKET

Actress Mrunal Thakur becomes the face of PNG Jewellers’ Diwali Campaign

Bollywood

actress Mrunal Thakur is the new face of Maharashtra’s most preferred jewellery retail chain PNG Jewellers’ Diwali campaign. The brand announced the recent association with the mesmerizing beauty and sensational actress who made a visit to their Thane store to launch two stunning new collections in gold and diamond jewellery.

The 190-year-old legacy jewellery brand, pursues an art form that is a testament to the proud Maharashtrian heritage. Every year, for the festive season, the brand creates collections that are an amalgamation of the rich history of Maharashtra as well as a reflection of modern day aesthetics of the Indian woman. These collections go beyond jewellery design itself and speak a language of the arts, traditions and contemporary pop culture of the times.

Actress Mrunal Thakur visited the brands’ Thane store to unveil their gold jewellery collection, ‘Katha’ and their diamond jewellery collection ‘Ina’ in front of a packed crowd.

The Katha collection is a revival of jewellery styles that are made from 100-yearold heritage jewellery moulds. The collection consists of necklaces, earrings, bracelets, kadas etc from these heritage motifs set in modern intricate jewellery designs making it a perfect offering for the modern Indian woman who chooses heritage and traditional jewellery to style her looks.

The ‘Ina’ collection on the other hand is a novel diamond jewellery collection. It is reflective of a woman’s

inner strength that radiates out making her shine with confidence. The brilliant sparkle of natural diamonds in these jewellery pieces speak volumes about a woman’s eternal beauty and unparalleled strength.

Avama Jewellers unveils ‘The Diwali Edit 2022’

of home celebrations and intimate gatherings with friends and family.

It is this spirit that we celebrate with our newest collection, a range of stunning jewels that will elevate your Diwali celebrations.Your envyinducing festive ensembles deserve attention with stunning jewellery from new collection launched by Avama Jewellers, ‘The Diwali Edit 2022’.

Diwali

brings with it togetherness, prosperity and unmatched joy. With the current pandemic, it seems that following the same traditions will be a tad difficult. With just about a few days to go for the most significant annual extravaganza in India, the preparations have begun across the country, albeit at a lower scale this time. Nevertheless, the revelry will continue this year too, in the form

Avama Jewellers have some great offers for Diwali this year- Exchange your old Gold jewellery for new Hallmarked jewellery. Moreover, one should not miss out on the ‘Special offers on Temple jewellery’ & ‘Making charges start from just Rs 1 on Gold, Diamond & Polki jewellery. To add on to your celebrations Avama Jewellers is also offering free Gold coins & assured gifts with every purchase.

On festive occasions like this most women like to adorn jewellery that reflects their innate ethnicity, which

makes this the best opportunity for them to avail the offers. The diamond jewellery embedded with colourful gemstones is attracting the attention of patrons this season and with good reason because they add grace to any festive occasion. Their sleek diamond studded earrings too are a big head turner with the contemporaryheritage feel. Among the young generation- the trend is for statement earrings and elegant bracelets that can be worn both at the ‘Taash’parties as well as in the ‘Diya Puja’.

“Stay informed and stay connected with us.”

The week on

JEWEL MARKET

Celebrate the Festive of Lights with The ‘Indian Gem & Jewellery Collection’

The festive season gives you the perfect reason to add some bling to your collection of jewels. With the spirit of celebrations in the air, Diwali calls for getting bejewelled in panache and grace.Festive season calls for multiple occasions to dress up and party, this festival can’t be celebrated without donning our traditional Indian attire and of course jewellery.

Keep up with the glitz this festive season with the Indian Gem & Jewellery Collection. The brand has launched an assemblage of their exclusive jewellery, ‘Aishwarya’.

This range of jewellery encompasses exquisite necklaces, earrings, rings and bracelets carved in ethereal Polki, sophisticated Jadau, Indian traditional Mughal Kundan and classy diamonds. The collection is a symbol of luxury and royalty exhibiting an epitome of elegance and flawless artistry. Every piece is crafted with a keen eye on grandeur, finesse, craftsmanship and uniqueness to serve to the expectations of the connoisseur clientele. This festive season, adorn yourself with an artful

blend of the old and new as ‘royalty’ is the flavour for jewellery. Come and experience an elegant way to celebrate the quintessence of Diwali this year! Share your love for jewellery with this beautiful festive collection this season.

This year, Celebrate Diwali in style with Virrayaa Jewellery

Diwali,

one of the most celebrated festivals of our country has arrived. It is almost an extension of the on-going festivities of Durga Puja especially in the state of Bengal. The festive mood is still very well placed in the minds of people which prolong the Diwali celebrations with great enthusiasm.

On this auspicious occasion, Virrayaa Jewellery has launched an assemblage of exclusive jewellery pieces, ‘Virrayaa’s Diwali Edit, 2022’.

Virrayaa Jewellery brings to you their most awaited Diwali range of the year. The Jewellery boasts of an extensive array of heritage and timeless pieces with the pivot being, Polki and Jadau. From Eternal Necklaces, Classic Jhumkas to Authentic Bangdis and Patlas, Virrayaa Jewellery can put you in a dilemma on what to choose. As a comprehensive solution for all the jewellery conjecture, Virrayaa Jewellery also has an exquisite section for the millennials, fully equipped with designs that give a sense of elation and delight.

Shine like the goddess you are, with their premium collection this festive season!

“Stay informed and stay connected with us.”