Page 11 - Bullion World Volume 3 Issue 12 December 2023

Bullion World | Volume 3 | Issue 12 | December 2023

the preferences of these individuals and providing them This represents the product line or category that caters
with an extensive range of high-quality designs and to our customers' preferences. Over the past three years
impeccable finishing in jewellery. Crafting alongside since establishing this brand, we have observed that our
gold seemed impractical, as in terms of the top line, offerings align closely with the predominant preferences
gold reaches into the realm of multiple thousands of of individuals seeking silver jewellery. Our customers
crores, whereas our endeavour in this space is currently consistently express satisfaction with our current range,
at a more modest scale, in the range of a few hundred indicating that their preferences lie within the scope
crores. Both segments, gold and silver jewellery, of our existing offerings. They rarely inquire about
operate with distinct profit margins, necessitating items beyond our established product line, reflecting
diverse marketing strategies, varied approaches to contentment with the diverse selection of silver jewellery
store establishment, and infrastructure development. we provide.
Notably, the ambience within a shop differs significantly
between the two. While gold jewellery establishments We have firmly established ourselves in the realm of
often showcase items within closed displays, allowing fashion jewellery, particularly silver jewellery, within the
customers a hands-on experience, the dynamics are Indian market. Our brand is positioned as reasonably
altered for fashion or silver jewellery shops. Here, the prestigious, and as a listed fashion jewellery company,
norm revolves around self-service setups, emphasizing our primary focus has been on silver jewellery. Looking
accessibility and direct interaction with the jewellery on ahead, we envision a future where our offerings will
display, a feature unique to this particular niche. extend to coincide with 14 karat gold with natural
diamond jewellery. However, our brand and company
In the realm of silver recycling and maintaining purity, remain steadfast in prioritizing silver jewellery, specifically
the essence lies in the fact that individuals are investing catering to the preferences of the next generation, Gen
in fashion and design rather than the intrinsic value of Z, and Gen Next, with a distinct emphasis on sleek and
the metal. For instance, a silver chain with a pendant modern designs rather than bulkier options.
adorned with CZ stones might only contain 5 to 7
grams of silver. Consequently, the actual silver value
in an article priced at 2000 or 3000 rupees might be a
mere 400 rupees. In the event of wanting to return the
article, the individual would receive only a fraction—
approximately 300 to 400 rupees—of the total amount
paid. The process of recycling is facilitated by the
understanding that the metal itself holds less significance
in comparison to the overall design. Leveraging our
extensive experience in the original plain gold business,
as well as dealing with plain silver utensils and coins, we
have honed our practices for the efficient recycling of old
jewellery. This proficiency ensures a seamless exchange
process, where the metal is easily recycled, reflecting
our commitment to sustainability in the industry.

In the silver jewellery the product range primarily
encompasses anklets, bracelets, finger rings, chain
pendants, couplings, brooches, and sari pins.
Additionally, there are artefacts crafted from silver that
serve as ideal gifts, such as statues of goddesses and
elegantly designed vessels specifically curated for In conclusion, the rise of silver jewellery in India
gifting purposes. These artefacts often feature intricate represents a significant shift in consumer preferences,
details, with some incorporating a glass or acrylic bowl driven by affordability, evolving fashion trends, and the
within, surrounded by a finely crafted silver exterior. desire for exclusive designs. As the market continues
These unique artefacts are highly sought after for gifting to grow, silver jewellery is poised to become a
occasions. formidable competitor to traditional gold jewellery.

11