The recent Ambani pre-wedding celebrations in Jamnagar have captured headlines in more ways than one. The array of premium handcrafted jewellery worn by the guests has stoked enormous interest, especially on social media, prompting top jewellers to focus on such ornaments studded with emeralds, sapphires, rubies, and diamonds.
“We have just launched a new line with platinum, crafted in a pattern with emeralds and diamonds,” said Rajiv Popley, director of Mumbai-based Popley & Sons that sells high-end jewellery. “Demand has picked up for this kind of jewellery after the pre-wedding bash. Indian customers can relate to what had been worn… It’s all over social media.”
According to Popley, prices typically start from INR 5 lakh and can reach up to INR 1 crore.
“A pair of earrings from our new line of jewellery studded with emerald and diamonds costs INR 7 lakh,” he said.
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Chairman Joy Alukkas revealed that his chain will be launching a gemstone-studded premium line, inspired by the Ambani celebrations, by the end of next month.
“We are working on the designs,” he said.
This represents a change for Joyalukkas, known for its range dominated by gold and diamonds, although the retail chain does offer affordable, gem-studded ornaments in its north India stores.
The blue sapphire utilized in this type of jewellery originates from Sri Lanka, with prices commencing at INR 2 lakh. Rubies are sourced from Mozambique, while emeralds hail from Zambia and Colombia. The price increases corresponding to the stone’s quality.
“This pre-wedding (bash) was like dopamine,” said a prominent retail industry veteran. “It has changed the psyche of upwardly mobile India, (those who) want to follow trends they consume on social media.”
Ishu Datwani, the founder of Anmol Jewellers based in Bandra, mentioned that posts about the pre-wedding event garnered record views on Instagram, reigniting interest in grand statement jewellery and gemstones, particularly emeralds, for weddings.
Datwani has received numerous calls from clients urging him to introduce a new line.
“Looking at the increased demand for emerald jewellery after the Ambani pre-wedding (party), we have launched the ‘evergreen emeralds edition’ by Anmol,” he said. “Each piece is überluxe and ideal for a high-society gala or an elegant soirée. The price of the range starts from INR 10 lakh and can (go up for) the finest quality emeralds.”
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Tanishq has also launched a premium jewellery collection, Ethereal Wonders, made of the “rarest blue sapphire, emeralds and diamonds,” the company said in a release.
This line consists of necklaces that will not be accessible at stores but exclusively at exhibitions in selected cities.
“This collection, which is rare, offers ultra-luxurious fusion of tradition and modernity,” said Revathi Kant, chief design officer at Titan.
Nevertheless, not all products are targeted towards the affluent.
“Even the middle class is eyeing gemstone-studded jewellery,” said Colin Shah, managing director of Kama Jewellery, which is also launching a gemstone-studded line. “In the current financial year, demand has shot up by 40% from FY23 for gemstone-studded jewellery and the middle class has contributed quite a good portion of this.”
According to figures from the Gem & Jewellery Export Promotion Council, the import of rough gemstones increased by 7.33% to INR 3,039 crore during April 2023 to January 2024, up from INR 2,831.6 crore in the corresponding period last year.
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