Massifying Luxury Jewellery

The grandeur of Anant Ambani and Radhika Merchant’s wedding is not just a social event but a shot in the arm for the jewellery industry ahead of the main season. The Retail Jeweller discovers how retailers cater to consumers’ altered bridal jewellery aspirations across economic segments

For a nation already fixated on big-fat weddings, Anant Ambani and Radhika Merchant’s nuptials set new standards for luxury. Among the many opulent details, the jewels stole the limelight, sparking a noticeable surge in interest in jewellery, evident in both social media discussions and retail interactions.

Colouring trends

The most significant impact of the Ambani wedding on jewellery trends is the surge in demand for coloured gemstones, especially green emeralds. “In early March, a couple of weeks after Anant Ambani’s pre-wedding celebrations in Jamnagar, clients coming in were asking for emeralds,” shares Ishu Datwani, Founder of Anmol Jewellers in Mumbai.

Priyesh Nagar, Managing Partner at Jewellers Madanlal Chhaganlal in Indore, notes, “There is a noticeable preference for precious coloured gemstones like emeralds, rubies, and sapphires, indicating a shift towards more personalised and vibrant bridal jewellery.” He also reports increased interest in tanzanites, pink sapphires, and even unconventional stones like fluorites and moonstones.

Retailers are adapting their inventory to meet this demand. Umesh Kapoor, Founder of Umesh’s Malliram Designer Jewellery in Amritsar, concurs: “Customers only demand emeralds. Seventy-five per cent of our store’s new inventory is being made in emeralds.”
Ramesh Narang, Director of Hazoorilal Legacy, opines that this high-profile event has extended its impact to the middle-income group and demystified luxury for the broader jewellery market. “Before Nita Ambani wore that emerald and diamond necklace at Jamnagar, we already had three similar necklaces in stock. We have sold six to eight such pieces in the past six to eight months,” he says.

Classic designs featuring large gems such as emeralds or tourmalines have been a hallmark in Hazoorilal’s collections. Narang adds that Nita Ambani’s jewellery choices spotlight existing trends, and elevate established styles rather than introduce new ones.

Aesthetic emulation

The aspirational nature of weddings as significant life events drives the masses to seek pieces that mirror the grandeur seen in high-profile nuptials, albeit on a smaller scale. While the super-elites set the trends, upper and middle-income groups aspire to these luxurious standards. Jewellers nationwide cater to these demands by creating pieces inspired by these iconic styles, tailored to individual preferences and budgets. Vivek Kumar Gupta, Director of Lala Purshottam Das Jewellers in Kanpur, observes, “We see middle-class customers aspiring to high-range jewellery but tailored to their preferences, such as specific locket or earring designs.” As the demand for green-coloured gemstones surged, about 80 per cent of his brand’s coloured stone jewellery incorporates a green touch, he says.

To make luxury designs accessible, jewellers are innovating with materials and technology. Smaller diamonds replace larger ones, and synthetic stones like onyx and synthetic green stones serve as cost-effective alternatives. Priyesh Nagar explains, “We have seen a rise in the use of quartz and glass-filled rubies, which allow customers to own beautiful pieces at a fraction of the cost.” Shivek Gupta, Managing Partner at Sanjay Gupta by Tibarumals Jewellers in Hyderabad, says that tourmalines are catching up as substitutes for more expensive gemstones.

Metal preferences are also shifting. Shivek Gupta observes, “I think the jewellery industry, by and large, has moved to 18k gold from 22k. And I believe that 14k gold has already become a standard in many regions.” Ishu Datwani confirms this trend, noting that his brand now makes diamond jewellery in 14k gold to make pieces more affordable without compromising the look.
The Ambani wedding’s impact on jewellery marketing strategies is subtle but significant. While some jewellers like Shivek Gupta maintain that their strategy does not change based on trends, others adapt their approaches. Priyesh Nagar shares, “We have extended the store and created display walls showcasing the season’s flavour, like the Ambani style.”

Authenticity and quality remain crucial in the competitive world of luxury jewellery retail. Ramesh Narang says, “I find direct replication disheartening and prefer to create pieces inspired by these iconic designs rather than mimicking them precisely.” Hazoorilal Legacy offers unique creations that incorporate various natural gemstones, creating jewellery that, while not as expensive, retains its distinctive allure.

Nakshatra Mehta, Director of Mehta Emporium in Mumbai, takes a practical approach involving extensive consultation and collaboration. “We guide customers into buying pieces that complement their style and stature. Some clients may express interest in oversized pieces, yet we carefully guide them towards other options. The tactic is more long-term as it secures the client’s interest and trust.”

Fulfilling aspirations

Even before the Ambani wedding, there was a growing preference for fancy-coloured gemstones and the big three—rubies, emeralds, and sapphires—reflecting a shift towards more daring and distinctive jewellery styles. Ishu Datwani remarks, “Our clients are increasingly seeking unique pieces that can serve as conversation starters. There has been a clear demand for standout designs, marking a shift from traditional, voluminous jewellery to pieces emphasising individuality and craftsmanship.” His Bijouterie Lounge is a dedicated space for showcasing unusual, one-off pieces to clients by appointment.

Even though the trend of understated luxury is slowly permeating the upper echelons of society when it comes to weddings, the Ambani nuptials has not only revitalised but also set a new standard in bridal jewellery, emphasising the allure and attention-commanding nature of chunky jewellery styles. With the wedding season approaching, demand for such designs is anticipated, albeit with materials, sizes, and cuts suited to individual budgets.

In this new landscape, jewellers are not just selling jewellery but crafting experiences and fulfilling aspirations. Shivek Gupta aptly says, “A wedding is probably the main or the only time when all aspirations come true.” In 2024, those aspirations are increasingly shaped by the glittering example set by India’s most high-profile family.

Written by Pooja Mujumdar and Achal Chaubey