India’s SRS Group Invests $12M to Launch Jewelry Unit

India-based property developer SRS Group announced plans to enter the jewelry retail market.

The company said it plans to open 10 exclusive jewelry stores in India this year under the brand SRS Jewels, investing INR 500 million ($11.76 million) in the project.

Sunil Jindal, managing director of SRS Group, said the company would aim to increase the number of SRS Jewels stores by 25 per year from 2009 onwards.

Jindal added the company was confident it would be able to find its niche in the organized jewelry retail segment.

“The SRS Jewels store offers a wide range of gracefully crafted Hallmarked jewelry that comprises 80 percent diamond and 20 percent gold,” the company explained.

SRS Group has business interests in real estate and township development, multiplex cinemas, organized retail, hospitality and aviation sectors.
Source: diamonds

India’s Largest Jewelry Mall Inaugurated in Chennai

The

Prashanth

Real

Gold

Tower

has been inaugurated in the hub of the T. Nagar shopping center in Chennai. The tower, which is to constitute the largest exclusive jewelry destination in , will serve both the retail and wholesale jewelry trade.

Leading companies involved in the jewelry business have announced plans to open offices and stores there including Bank of India, G.S. Laboratories, Sanghi Jewelers, Royal India Gems, and more.

The building will feature renowned jewelry brand stores, bullion trading desks from leading banks, trading lounges and an exhibition hall. It aims to serve as a one-stop destination for all matters related to gold, diamonds and jewelry.

The building will also features advanced security systems equipped with CCTV, RCC Wall and more.
Source: israelidiamond

GJPEC show a watermark for India's jewelry industry

The Gem and Jewellery Export Promotion Council (GJEPC) is celebrating its first show, IIJS Signature, Goa, as a brand "India" building exercise that underscores the country's importance in the jewelry industry.

The invitation-only show was held in Goa from Feb. 29-March 3, and included about 350 individual buyers and delegates, and India's top 150 retailers.

Buyers from 14 countries attended, including Afghanistan, Nigeria, Turkey and Kazakhstan.

Trade delegations from Uzbekistan, Italy, Hungary, the United Arab Emirates, Poland, Russia, Iran, Japan, Israel, Pakistan and other nations also attended.

At the inaugural speech for the event, GJPEC Chairman Sanjay Kothari said he was proud of the achievements of the jewelry industry in India, and that the show demonstrated India's ability to produce quality jewelry that matches lifestyle trends worldwide.

"Considering the significance of trade fairs in the development of an industry, we can certainly state with confidence that IIJS has played that pivotal role for the gem and jewelry industry in India," Kothari said.

Recounting industry statistics for the year, he said gem and jewelry exports increased 20.8 percent to $16.8 billion between April 2007 and January 2008. In the same time period, diamond exports increased 36.7 percent, from $8.07 billion to $11.03 billion.

In addition, Kothari said in the last few years, several new exporters have entered the Indian market and 40 more or new brands have emerged.

He said the Indian government recently proposed setting up a national council to help bring the country's budding jewelry industry under one umbrella.

"This will perform an important role in streamlining the domestic industry, along with exports," he said.

However, a number of problems currently confront the industry, including the weak dollar and appreciation of the rupee.
Source: nationaljewelernetwork

India : Royal Mughal appearance in Tanishq jewelry

Accuracy and speed were the hallmarks of every great Mughal archer. The Archer’s ring was worn to protect the thumb as well as to increase arrow range and velocity. It was one of the emperor’s most prized personal effects; it was crafted to be a perfect fit for his thumb. He alone could wear it.

Akbar’s Sarpech:
Turban ornament was the ultimate symbol of royalty, worn exclusively by Emperor Akbar in his durbar. Large emeralds crafted in elaborate floral motifs were used in his sarpech to fulfill his fascination with this green stone.

Jade Neckwear:
A combination of delicate beauty and extreme toughness, the Jade stone has a special charm that gem lovers have cherished since time immemorial. This stone was worn as a talisman to counter the effects of poison and bring victory in warfare.

Aad:
An ornament that adorns the neck and flows down to decorate her chest, the Aad is the most elaborate ornament of the Rajput queen. It was the central piece of the bride’s wedding trousseau that symbolised her transition from girl to woman.

This ornament was also meant to display the wealth and rank of the bride’s family; the bigger and heavier the aad looked, the greater was the status of the bride’s family.

Jodhaa’s Wedding Ensemble:
Jodhaa was bedecked in an opulent ten piece head to toe jewelry ensemble on her wedding day. The intricacy of polki diamonds is juxtaposed with carved rubies.

Jodhaa’s wedding ensemble is inspired by the most classic traditional flower motif used in royal kundan jewelry. Maang teekas, bangles, choker, jhumkis, nath, hath phools, rings and neckwear enfold the bride in luxury as she crosses the threshold from girl to woman.

Navratna:
The power of the nine planets. The energy of nine gemstones.
A traditional talisman of good fortune on an auspicious occasion

Diamond to enhance beauty, charm, poise and the expression of love. Pearl to encourage friendship and intimacy. Coral to represent ambition and achievement. Ruby for confidence and assertiveness. Hessonite to remove obstacles and ensure success. Blue Sapphire for stability and a good reputation.
Cat’s eye to enhance wisdom and spirituality. Yellow Sapphire to bring wealth and positivity. Emerald for protection, learning and clarity in communication

Tourmaline:
Tourmaline, for the princess of many moods – Jodhaa. It showcased her demanding character and volatile personality; she had the power to be whoever she wanted to be. This piece has beautiful teardrop shaped tourmaline stones embedded in it giving it a royal Mughal appearance.

This piece is also a remarkable example of the finesse of making of kundan jewelry. The linking of each tukdi is so flexible and flawless that it wraps Jodhaa’s beautiful neck perfectly, almost like fabric.

Bikaneri Meenakari:
Rare pink bikaneri enamel work enriches this hath mukh bangle. Delicately sculpted elephant trunks entwine, drawing inspiration from Jodhaa’s finely detailed wedding jewelry.

Emperor Akbar’s Sword:
Akbar the Great – mighty emperor, conqueror of nations, vanquisher of foes – wielded the sword with great élan. This magnificent weapon, with meticulously sculpted elephants, was symbolic of Emperor Akbar’s power, masculinity and leadership. 8 specialists took 11 months to breathe life into the magnificent gem-encrusted, 3.5 feet long ceremonial sword.

Lotus:
Lotus is the symbol of truth, auspiciousness and beauty (Satyam, Shivam, Sundaram). The lotus grows even in slushy areas. It remains beautiful and untainted, despite its surroundings. This piece is an effort to capture this evergreen and everlasting symbol of pious beauty.
Source: fibre2fashion

India firm acquires local jewelry chain

A jewelry manufacturer and retailer establishing a presence in the United States has acquired the Rogers Ltd. jewelry store chain.

Gitanjali Gems Ltd. purchased the Middletown-based chain for an undisclosed price. Gitanjali, based in Mumbai, India, said in a news release that it has been acquiring jewelry companies in this country to build a retail network.

Jeffrey Lazarow, the former Rogers chief executive officer who will now hold the title of chairman emeritus, said the acquisition "will allow the Rogers organization to more aggressively compete in today's marketplace."

Founded in 1920, Rogers operates 46 stores in 11 states under the Rogers Jewelers and Andrews Jewelers names. Locally, it has stores in The Mall at Fairfield Commons, the Dayton Mall, Towne Mall in Franklin and locations in Xenia and Middletown. The company has 600 employees, including 88 at its Middletown headquarters, according to the story.

The chain will be a wholly owned subsidiary of Gitanjali, but will continue to operate under the Andrews and Rogers names, the company said.
Source: bizjournals

India : Jewelry export drops over 7.2%

Demand for Indian jewelry in US has declined due to appreciation of Rupee. Exports have also gone down by 7.23 percent from Rs7,563.96 crore last year to Rs7,017 crore in September this year. Weakening of Dollar, might further bring down the profit levels for Indian exporters.

Export of gold jewellery in particular dropped from Rs2,157.74 crore to Rs1,746.37 crore, while that of diamond fell 1.73 percent to Rs4,936.18 crore.

Compared to last year, however, the over all export of Gems and Jewelry has gone up 9.41 percent.

Same is the case for imports of diamonds and colored gems, which have declined considerably. In spite of which, on an over all level, the imports have risen by 22.59 percent from Rs28,593.72 crore last year to Rs35,052.78 crore this year.
Source: fibre2fashion

India's Jewelry Exports Climb, Led by Diamond Sales

Exports of jewelry from India, the world's largest producer, climbed 24 percent in the five months ended August as overseas sales of diamonds rose.

Exports reached $7.75 billion, compared with $6.24 billion a year ago, the Gem & Jewellery Export Promotion Council said on its Web site. India shipped gems and jewelry worth $1.87 billion last month compared with $1.43 billion a year earlier.

Gold demand from India almost doubled in the three months ended June 30 to 317.2 tons as faster-than-expected economic expansion and plans to double jewelry exports in the next five years sparked purchases and investment demand.

Diamond exports rose 25 percent to $5.1 billion and jewelry sales gained 24 percent to $2.2 billion in the five months ended August. Sales of gemstones rose 11 percent to $99 million, while shipments of rough diamonds rose 12 percent to $222 million from year ago, the council said.

India's exports of gems and jewelry rose 3 percent to $17 billion in the year ended March from $16.6 billion a year ago, according to council's Web site.
Source: bloomberg

Gems & jewellery exports up 13 pc

MUMBAI: The country's gems and jewellery exports have registered a 12.89 per cent and 21.58 per cent growth in the rupee and USD terms respectively in the first quarter ended June 30, despite a sharp rupee appreciation against the dollar in the last six months.

According to figures released by the Gems and Jewellery Export Promotion Council (GJEPC) here, the provisional net exports of gems and jewellery stood at Rs 18,398.55 crore in April-June this year as compared to Rs 16,298 crore in the same period last year.

The gems and jewellery exports escaped the rupee appreciation because of slew of factors. The fact that this sector is import-centric actually helped, said Sanjay Kothari, Chairman of GJEPC, adding that as much as 75 per cent of the raw material needed is imported. India is the largest importer of the rough diamonds.

Besides, unlike sectors such as textiles and leather which incurred higher input costs due to rising rupee, the remittances and payments by the industry are done in dollars, thus avoiding perils of rupee appreciation.

The gold prices have significantly gone up compared to last year's prices too, affecting the prices gems and jewellery.

Exports in USD terms improved from $3,623.12 million to $4,405.08 million in the quarter ended June 2007.

Gold jewellery exports, however, remained stagnant at Rs 3,034.43 crore as compared to Rs 3,020.44 crore. Exports of gold jewellery from export promotion zones increased from Rs 1,483.1 crore to Rs 2,243.60 crore in Q1 FY 2008.

The exports of cut and polished diamonds stood at Rs 12,056.46 crore in the quarter as against Rs 10,810.17 crore in the year-ago period, contributing significantly to the growth of the sector.

Exports of coloured gemstones showed a marginal improvement at Rs 223.52 crore as compared to Rs 222.90 crore, while exports of non-gold jewellery, pearls and synthetic stones jumped 80 per cent at Rs 304.95 crore from Rs 169.33 crore in the corresponding period last year.

Exports of rough diamonds, however, declined by 9.55 per cent at Rs 535.58 crore in Q1 FY08 as against Rs 592.16 crore in the same period last year.

Rough diamonds exports in dollar terms declined by 2.59 per cent at $128.23 million as against USD 131.64 million, the GJEPC, the apex body of gem and jewellery industry, said.

The country has imported rough diamonds worth Rs 10,435.56 crore in the quarter as compared to Rs 9,852.72 crore in the same period last year.

Gold bar imports have come down by 29.56 per cent to Rs 1,122.16 crore as against Rs 1,593.05 crore.

The imports of cut and polished diamonds have showed a sharp jump of 84.32 per cent at Rs 3,919.62 crore as against Rs 2,126.56 crore in the year-ago period.

The overall net imports of gem and jewellery increased by 16.21 per cent at Rs 16,449.04 crore during the quarter as against Rs 14,154.59 crore in Q1 of FY07.

In FY07, gem and jewellery exports amounted to Rs 77,180.28 crore ($17.1 billion).
Source: indiatimes