Faced with lower consumer footprint in stores despite a big growth in sales at the factory gate, the jewellery trade believes it needs to directly engage users. “Sales from the factory gate have peaked in recent months. But actual sales from stores are yet to gain momentum,” said Mehul Choksi, managing director of Gitanjali Gems, one of largest jewellery manufacturers and retailers in the country.
Jewellery sales from factories have jumped 15-20 per cent since February. But retail sales to consumers have been almost stagnant so far this season. The Gems & Jewellery Export Promotion Council (GJEPC) under the Union ministry of commerce is organising an India Gems & Jewellery Fair (IGJF) from the coming Friday to Monday, at Pragati Maidan, Delhi, hoping to also attract customers for the coming wedding season. This season constitutes around 25 per cent of annual jewellery sales in India. Around 85 leading jewellers across the country would take part.
“GJEPC has initiated various business-to-business trade fairs and received phenomenal response for each of these. IGJF will be GJEPC’s premier endeavour to organise an event directly targeting consumers. We have participants from all parts of the country. Our main aim is to engage the consumers directly and allow them to view the extensive range of jewellery from across the country, while providing the gem and jewellery industry the needed impetus, as they continue to face challenges, with the increasing prices of precious metals,” said Vipul Shah, chairman, GJEPC.
The exhibition will showcase a variety of styles and trends and will include exclusive designer or couture jewellery, high-end jewellery, bridal wear and a mix of traditional, vintage, contemporary and classic styles. “We hope to introduce the Indian consumer to the wide gamut of jewellery crafts and extensive design and manufacturing capabilities that the industry has to offer,” said Rita Menon, chairman, India Trade Promotion Organisation.
Source: Bullion Bulletin