Onset of marriage season brings glitter to jewellery biz

Source: The Hitavada      Date: 29 Nov 2017 09:58:44


By Praveen Vighre,

There are programmes like Sangeet, Mehandi, Reception etc. For every event, ladies want particular type of jewellery to suit the occasion

WITH the onset of marriage season, city jewellers are witnessing a renewed demand for valuables after a long dismal period in the business. Although the prices of gold is oscillating between Rs 29,000 and Rs 30,000 per 10 grams, the people, whose children are tying the knot, are visiting jewellery shops and showrooms.

After the demonetisation drive and KYC compulsion under the Prevention of Money Laundering Act (PMLY), sentiments were not good in the market and customers’ footfalls had slipped remarkably, said Rajesh Rokde, Secretary of the Nagpur Sarafa Association and the Director of Rokde Jewellers.

He said that the stability in the prices of gold at the beginning of the marriage season had brought glitter to the business. Although the GST on jewellery had been hiked to 3 per cent from 1.2 per cent, the customers were not hesitating to purchase.

“Giving jewellery in the marriage is our age-old tradition and customers, who are closely associated and have trust on us, are visiting our showroom,” Rokde, who is also the Regional Director of the Gems and Jewellery Federation of India (GJF) said.

Rokde said: “Majority of the customers purchase jewellery on ‘Mahurat’, as per the marriage dates or on Guru Push.”
Pradeep Kothari, Director of GJF and Karan Kothari Jewellers Pvt Ltd also admitted that footfalls had swelled. “This particular season will continue upto December 14, and then we will have a dull period till January 15 i.e. upto ‘Makar Sankrant’. Now, as the marriage season has started, people are coming not only from Nagpur but also from various places in Vidarbha,” he said.

Over a period of time, Nagpur has become the biggest jewellery market in Vidarbha.
Bharat Seth, Partner of Batukbhai Jewellers said, “There is a rush to purchase jewellery for the ongoing marriage season. As there are marriage dates upto April, people are placing orders for valuables at our showroom.”

He said that nowadays marriage had become a big event which would last for some four to five days. “There are programmes like Sangeet, Mehandi, Reception, etc,. For every event or programme, ladies want particular type of jewellery to suit the occasion. Jewellers now have to keep a wide range of collection both traditional and modern,” he stated. The buying of jewellery was not only limited to bride and bridegroom but members in the family too, who purchased jewellery to enhance their personality and make the event memorable. All these had resulted into increase in footfalls, he said.

Bollywood, too, is helping the jewellers keep their cash drawers ringing. People visit showroom and ask for Padmavati or Jadau jewellery. “We have to keep all the stock ready to render our services to our valuable customers,” he added. Ashok Vastani, Partner of Dass Jewellers and the Regional Director of GJF also admitted that jewellery business was looking up after passing through dusky days.