FURA Pink Sapphires from Caara and lightweight jewellery from NV Jewels stand out at IIJS Premiere 2024

Caara Jewellers and NV Jewels saw significant success at the IIJS Premiere, with a notable increase in footfall driven by the recent decrease in customs duty, which proved highly beneficial for both exhibitors

Mumbai: At the 40th edition of the India International Jewellery Show (IIJS) Premiere, held at the Jio World Convention Centre (JWCC) in Mumbai, Caara Jewellers (JIO-D 6P) and NV Jewels (JIO-D 7D) experienced a robust response that exceeded their expectations, signalling a positive momentum in the jewellery industry. Both exhibitors highlighted key trends and challenges, showing the event’s significance in the business landscape.

Rishabh Gupta, Director of Caara Jewellers, noted a remarkable 34% increase in footfall compared to the previous year, attributing this surge to the long-awaited recovery in the market. He observed a growing interest in coloured gemstones, particularly pink sapphires, which has shifted their focus away from diamonds. “This year, we saw a significant shift towards coloured stones like Fura pink sapphires. Customers are increasingly exploring alternatives to diamonds, and this trend is likely to shape future buying patterns,” said Gupta.

He also emphasised the impact of the recent reduction in customs duty, which positively influenced consumer sentiment and spurred purchasing activity. “The timing of the customs duty reduction was perfect. It provided much-needed relief to the industry, boosting retailer confidence and driving substantial sales at IIJS,” he added.

Sanjay Bhingradia, Partner at NV Jewels, who was participating in IIJS for the first time, also expressed his satisfaction with the turnout, which exceeded his initial expectations by 50%. NV Jewels, known for their expertise in both open and closed settings, received considerable interest in their lightweight jewellery, reflecting the market’s adaptation to fluctuating metal prices. “Our lightweight jewellery was particularly well-received, given the rising gold prices. Retailers are keen on products that offer value within the current economic conditions,” Bhingradia remarked.

He also highlighted the role of reduced metal prices following the customs duty cut in attracting customers and driving orders. “The decrease in metal prices has been a game-changer, attracting more customers and significantly boosting footfall at our booth,” he said. NV Jewels, based in Surat, with operations in Hyderabad, Bangalore, and Chennai, remains committed to delivering high-quality finishes that set their designs apart.

Both Caara Jewellers and NV Jewels experienced positive responses from the IIJS Premiere 2024, highlighting its vital role in driving the growth and innovation of the jewellery sector.

Written by Maithili Patange

Retail Jeweller India Exclusive