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RJ Market Watch

2021 will be one of the best times we have ever seen, says Deepak Seth



How do you see the market from Navratri onwards?

The market is picking up very well and it is like adding on more and more customers. We are unable to fulfil the demands because there are lots of orders coming up for wedding jewellery especially the weddings which got postponed during the lockdown are now taking place.

Which are the collections you launched in IIJS virtual and how was the response?

We had launched a fusion collection where we have mixed kundan, jadau and temple jewellery with the real Zambian emeralds which have got a very good response at IIJS virtual.


What kind of weights are moving in?

We have got orders for wedding sets of 2 kilos and then we have orders for 50 grams also. Basically from 80-150 grams range is moving good which the retail right now will take all the risks to buy. So, there is a demand for Rs 20 lakh set and Rs 5 lakh set also.

There is a feeling in the market that smaller towns in India are doing well. So what do you think about that?

I don’t think that there is any such specification as the big cities like Hyderabad, Chennai, Lucknow, Kanpur are also performing well as demand is there. Although there are few specifications where people want to see something online and compare and want to buy something similar. But there is no such standardisation that small towns are doing good.

How do you see the market until March 2021?

The market is improving and whatever the jewellery industry has faced in the last 6 months is going to be covered up and everyone is happy. The workmanship is improving and most of the karigars are back. If you have a good variety with good rates and doing your business in full transparency then nothing can stop you from covering and recovering the losses. I have seen people opening new showrooms as there are positive sentiments in the market. The markets have recovered to 60-70% as compared to the pre-Covid time. So, I think 2021 can be one of the best times we have ever seen.

Do you see our exports to Middle East markets improving?

I think the only problem is travel restrictions where the NRI customers are not able to come in. But when we speak to our clients even they are seeing good recovery coming there also. So, in the next 6 months when everything will get opened up, the markets will recover pretty well.

Courtesy: Retail Jeweller India News Service.

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