The recent Ambani pre-wedding celebrations in Jamnagar have made headlines in more ways than one. The array of premium handcrafted jewellery worn by the guests has stoked enormous interest, especially on social media, prompting top jewellers to focus on such ornaments studded with emeralds, sapphires, rubies and diamonds.
“We have just launched a new line with platinum, crafted in a pattern with emeralds and diamonds,” said Rajiv Popley, director of Mumbai-based Popley & Sons that sells high-end jewellery. “Demand has picked up for this kind of jewellery after the pre-wedding bash. Indian customers can relate to what had been worn… It’s all over social media.” Prices typically start from `5 lakh and go up to `1 crore, Popley said. “A pair of earrings from our new line of jewellery studded with emerald and diamonds costs `7 lakh,” he said.
Chairman Joy Alukkas said his eponymous chain will be launching a gemstone-studded premium line — spurred by the Ambani celebrations — by the end of next month. “We are working on the designs,” he said. This is a shift for Joyalukkas, which typically has a range dominated by gold and diamonds, although the retail chain does sell affordable, gemstudded ornaments in its north India stores.
The blue sapphire used for this kind of jewellery comes from Sri Lanka, with prices starting at Rs 2 lakh. Rubies come from Mozambique, and emeralds from Zambia and Colombia. The cost goes up in line with the quality of the stone.
“This pre-wedding (bash) was like dopamine,” said a prominent retail industry veteran. “It has changed the psyche of upwardly mobile India, (those who) want to follow trends they consume on social media.”
Bandra-based Ishu Datwani, founder of Anmol Jewellers, said posts on the pre-wedding event had record Instagram views and revived interest in big-statement jewellery and gemstones, especially emeralds, for marriages.
Datwani has been flooded with calls from clients encouraging him to launch a new line. “Looking at the increased demand for emerald jewellery after the Ambani pre-wedding (party), we have launched the ‘evergreen emeralds edition’ by Anmol,” he said. “Each piece is überluxe and ideal for a high-society gala or an elegant soirée. The price of the range starts from Rs 10 lakh and can (go up for) the finest quality emeralds.”
Tanishq has also launched a premium jewellery collection, Ethereal Wonders, made of the “rarest blue sapphire, emeralds and diamonds,” the company said in a release. This line comprises necklaces that will not be available at stores but only at exhibitions in select cities.
“This collection, which is rare, offers ultra-luxurious fusion of tradition and modernity,” said Revathi Kant, chief design officer at Titan.
However, not all products are aimed at the wealthy.
“Even the middle class is eyeing gemstone-studded jewellery,” said Colin Shah, managing director of Kama Jewelry, which is also launching a gemstone-studded line. “In the current financial year, demand has shot up by 40% from FY23 for gemstone-studded jewellery and the middle class has contributed quite a good portion of this.”
Gem & Jewellery Export Promotion Council figures show the import of rough gemstones rose 7.33% to Rs 3,039 crore during April 2023 and January 2024, from Rs 2,831.6 crore in the same period last year.
