FESTIVE SEASON EXPECTATIONS FOR PLATINUM JEWELLERY

17th October 2022

Mr. Joy Alukkas, Joyalukkas India Ltd; Mr. Rajesh Kalyanaraman, Kalyan Jewellers; Mr. Suvankar Sen, Senco Gold & Diamonds; Mr. Saket Keshri, Ratnalaya Jewellers; Mr. Milan Shah, Kalamandir Jewellers; Mr. Manoj Soni, AB Jewels sharing their thoughts about their Expectations from Platinum Jewellery this Festive Season

• Suvankar Sen, Director, Senco Gold & Diamonds 

Consumers are gearing up to celebrate the festival season with great fervour and enthusiasm. We anticipate brisk business and a higher number of footfalls across our stores. We are launching a new collection for Platinum Evara, Nova in anticipation of the festive season. Platinum jewellery has been a favoured choice among young women, and we believe this trend will continue as we move into a full-packed festive season.

• Saket Keshri, Director – Operations, Ratnalaya Jewellers

We have witnessed a brilliant performance for platinum since the start of the year. This eventually led us to win the Platinum Season of Love award in July 2022. The Platinum Buyer Seller Meet held in Bangalore helped us to replenish our stocks for the upcoming seasons, especially Q4. As the country is buzzing with festivities and celebrations, people are indulging in the purchase of jewellery for gifting their loved ones and also for themselves. We are optimistic that as the festivities kick in there is going to be an uptake across categories namely Men of Platinum, Platinum Days of Love and Platinum Evara.

• Milan Shah, Director, Kalamandir Jewellers

Platinum has been a consistently high-growth category for us. The Platinum Buyer Seller Meet held earlier this year was extremely instrumental in helping us plan with stock replenishment and also helped us expand our offerings across the 3 categories namely Men of Platinum, Platinum Love Bands and Platinum Evara. Hence, we are geared for the upcoming quarter, and we are positive about the imminent growth.

• Manoj Soni, Director, AB Jewels

Currently, the jewellery market looks promising as there is a positive vibe in the market. With the festive season ahead of us, we have seen our consumers opt for platinum jewellery due to its stylish and contemporary designs that are available across price points. We are anticipating a spurt in platinum jewellery purchases during this year’s festive season.

• Rajesh Kalyanaraman Executive Director of Kalyan Jewellers

Indian consumer sentiment is extremely positive with the upcoming festive season and platinum jewellery sits right in the centre as they step out for festive purchases. We have seen growth for Men of Platinum and Platinum Days of Love across all our stores. We have seen a positive and upward buying demand as people are considering jewellery to gift or purchase for themselves. We are expecting this significant growth to continue for the rest of the year.

• Joy Alukkas, Chairman, Joyalukkas India Ltd.

People across the country are shopping for precious things to celebrate the spirit of the festival without holding back. Consumers, especially young women are coming to the stores in large numbers with a greater demand for trendy, frequent wear platinum jewellery.