The Glittering Diamond Jewellery Business
The jewellery business is experiencing a kind of revolution and the domination of gold jewellery is being challenged by a sharp increase in diamond jewellery.†
The jewellery business is experiencing a kind of revolution and the domination of gold jewellery is being challenged by a sharp increase in diamond jewellery. The prices of diamonds have doubled over a year, yet the demand for diamond jewellery has been steadily growing. Diamond merchants are more confident than ever and increasing their operations steadily. The reason is simple. Diamond prices arenít as volatile as gold and hence give more stability to the merchants.
Diamond jewellery is also being seen as a break from the regular and traditional gold jewellery. More and more youth are turning towards diamond jewellery for weddings and other special occasions. Diamond rings have especially taken over gold as engagement rings. More and more couples are looking to a diamond ring as their symbol of bonding. Even the smaller towns are getting bolder and we see many big brands entering the smaller towns. While itís the designer and branded gold jewellery that sells there more, even diamonds are catching up soon.†
The sharp increase in gold prices and the necessity of jewellery in weddings have also encouraged the demand of diamond.
With this increase in demand, the Indian jewellery market has seen the entry of a good number of diamond jewellery brands. While most of the diamonds are sold by the unorganized markets and small sellers, some of the major players have made it really big with brand power. Affluent Indians now chose to go for branded designer jewelry instead of the traditional designs from the family jeweler.
It is this entry of a huge number of players in the market that has raised the level of competition. In a bid to outdo each other each brand is fighting hard to attract the consumers and hence churning out the most dazzling creations in diamond.
The online sale medium has given a great arena to the diamond business. While saving on to costs, the online diamond jewellery sites give out a lot of discounts and deals that make diamond jewellery buying possible for most.
The demand for diamond jewellery has even created a lot of diamond investors. Investors now wait for loose and unpolished diamond rates to go low and buy them in bulk. Once the markets are back to normal and prices favorable, the investors sell them at higher prices making much profit. The investment interest is however limited to bigger diamonds. Investors like to invest money only in diamond 3 carats and above. All below that mostly go in making not so expensive jewellery.†
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ABOUT THE AUTHOR
Kiran Gautam is a close follower of lifestyle and fashion and writes about her passions and common shopping & fashion queries. Check out some of the best known Diamond Jewellery sites in India.