RJ Market Watch
Chosen by Tejpal Ranka woos the market with brilliant blue sapphire jewellery range
Colour stone jewellery is seeing a healthy rise in demand recently. Rubies and emeralds are back in vogue, with brands using a mix of those colours to excite the youth. However, few have paid heed to the third of the ‘big three’ in this segment. We are talking of sapphire jewellery, which has found a grand stage with luxury brand Chosen by Tejpal Ranka.
A quick glance at the brand’s Instagram handle shows the amount of focus Ranka has been giving to this category. Both high-ticket premium jewellery and mid-sized ranges shine with the mystic beauty of the blue sapphire. The brand is also promoting short videos, making the followers aware of the historic significance of this precious gemstone.
Giving sapphire jewellery such a boost is unprecedented in contemporary domestic market scenario. This is because sapphire has few astrological traits that make its adornment risky for certain wearers. Since ages, Indians have sought guidance from expert gemologists regarding wearing sapphire. People even wear other stones such as amethyst to suit themselves to the blue hue before wearing sapphire.
But that narrative is changing with new customer bases armed with discretionary spending capabilities, says Tejpal Ranka, partner, Ranka Jewellers. “There is a clear distinction within the customer base for sapphire. The first group constitutes gem lovers like me, who feel that adding sapphires makes my jewellery powerful, vibrant and out-of-the-box. The second group associates astrology with sapphire,” he maintains.
This hesitation, agrees Ranka, stems from centuries-old belief system of many Indian families and is still strong among the aged clientele. The gemstone-quality collection of Chosen, of which the sapphire range is a part, is meant for an exclusive experience for distinguished collectors. Still, the brand has come across buyers who express concerns regarding wearing sapphires. “In that case, we offer tanzanites. That’s the replacement for our sapphire jewellery, which is being picked up promisingly by Indian youth today.
“Of my 32 years of experience in the industry, I’ve spent the early years observing clients refusing sapphire jewellery because of the blue colour. They associated it with Shaniand used to always refuse. Today, only 20% of those clientele refuse the blue sapphire and the rest experiment successfully,” said Ranka.
According to him, the millennials in the 25-45 years age bracket have grown up with different experiences and thus don’t associate gemstones with astrological belief systems they haven’t verified themselves. “This belief-led distinction will remain, albeit in a weaker format, among millennials, as they too will consist of buyers whose family has always been skeptical of sapphires. But overall, the market is going to be more promising for the blue sapphire,” he maintains.
This is because a large part of the millennials and almost the entire Gen Z generation are well-travelled and stay thoroughly informed of every minute purchase, he said. When they come to know that natural sapphires are formed millions of years ago, they like to achieve a milestone in their life events such as marriage by opting for sapphires. “On that note, we at Chosen are taking a leap in the industry by developing an exquisite sapphire jewellery range for a niche base that appreciates blue sapphires for its beauty and rarity,” Ranka concluded.
Written by Shubham Dasgupta
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