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The new glitter of gold
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The jewellery market has grown by leaps and bounds over the past few years. While there is still demand for traditional designs and caratage, the younger generation is rediscovering jewellery, this time in trendy lightweights, and the market is more than prepared to cater to new tastes, discovers MEERA GUTHI.
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SOMEONE ONCE calculated that the worth of the Indian women's gold would more than offset the country's foreign debt. People have always been fascinated by gold, though the revered economist, John Maynard Keynes, described it as a "barbarous relic". This precious metal — one has to mine about 17 tonnes of ore to extract a single ounce of it — has been in use for over 8,000 years; and palaeontologists have even found bits of natural gold, dating back to 40,000 B.C., in caves in Spain.
It is probably its physical attractiveness and relative scarcity that lends gold its eternal appeal. Gold has medicinal value too, especially in Ayurveda. It finds use even in art, as evinced by the Mysore, Tanjore, and Kanhai paintings. Though the ancient Egyptians and Mayans used a lot of gold for adornment and for ritual purposes, it was the Lydians who first used it as money.
Indians have used gold largely as jewellery, and even now, our women buy gold as an investment. All our towns and cities have innumerable jewellery shops, right from swanky, air-conditioned showrooms that serve soft drinks to the dingy, elbow-bruising space of the local jeweller. It is one industry which is so vast and so disorganised, and like most traditional professions, caste-based, with the skills handed down from generation to generation.
Bangalore too is chock-a-block with jewellers, catering to every budget and taste, right from heavy, traditional jewellery to light, everyday wear to beautifully crafted, austere pieces that are fashion statements. There are familiar names like Krishniah Chetty, Ganjam, Bhima, Navrathan, Abharan, and so on, most of whom have been in the business for generations. And there are others like Alice Chettupuzha, Tanishq, and others who have been recent entrants.
"I started this shop 10 years ago, and named it Alice, because it was my mother's name," explains Antony Paul, proprietor of Alice Chettupuzha, who faced scepticism from some Sindhi friends about a Christian opening a jewellery shop in Bangalore. But then, these friends were ignorant about such enterprises in Kerala, where jewellery is big business involving members of all communities. "In Kerala, it is very common to see Christian people owning jewellery shops," explains Mr. Paul.
Like Alice Chettupuzha that took a risk in setting up shop in Bangalore, Tanishq, backed by the Tata name and the brand value of Titan, has become a major player in the jewellery sector. Tanishq's USP has been emphasising the purity of its gold, and catering to urban and trendy tastes. "We are like the Shopper's Stop of jewellery," explains Y.L. Saroja, Senior Manager, Sales and Marketing, Tanishq.
In a short span of six years, Tanishq has 53 boutiques spread across both metros and small towns. A strong foundation of the jewellery industry is faith and trust. It is after all an industry where gold is not just an appendage to beauty, but a solid investment. Traditionally, in India, families built a strong relationship with the jeweller, with the trust accumulated over generations. However, Ms. Saroja feels that "this relation is quite overstated". She is of the opinion that "newer and more informed customers want transparency and a more ethical way of doing business", than mere relationship. And there are signs of change, at least some. "Earlier, it used to be, `Kyon, bhenji, bharosa nahi hai?' which would silence the customer," explains Ms. Saroja, "but now the younger generation wants transparency."
Goutham Chand, Managing Director, Navrathan, corroborates this: "Earlier, people used to go to one trusted person, but now with new testing machines, anyone can be trusted."
Trust apart, design and variety are what distinguish jewellery shops. While some prefer the Northern style of kundan work that incorporates gemstones of various shapes and sizes shaped into a symmetric beauty, some go by the typical temple art designs of South India. There are others who go gaga over typical Kerala designs like the mullamottu (jasmine buds) mala or manga (mango) mala, and those who prefer a fusion of the East and West.
Jewellery designers have to be on their toes to be able to cater to the wide and variegated tastes across generations. Tanishq tries to find a balance between the intricate Indian jewellery styles and the minimalist designs of the West. Its Aria diamond collection, which moved away from the traditional seven-stone setting, is testimony to that.
Fusing the rich, ornate tradition of the East and the austere sensibilities of the West, Ganjam's designers and technical staff make regular trips abroad to keep abreast with the latest in jewellery designs and trends. As for Tanishq, its designers are mostly graduates from the National Institute of Fashion Technology who work on in-house projects before being hired fulltime.
But there are some jewellers who don't believe too much in having in-house designers. "How many designs can four or five designers come up with?" asks Mr. Goutham Chand. He believes in leaving the choice to his suppliers who procure the pieces from the North as well as the South, to cater to variegated market tastes. He also feels that whatever the tastes of the younger generation, when it comes to wedding shopping, trends and fashions go out the window and everyone opts for the traditional look. And despite the upstarts like non-traditional diamonds, white gold, platinum, which is three times more expensive than gold, the Indian love for the "yellow look" is unwavering, when it comes to formal occasions. Besides, "gold is still a security," Mr. Goutham Chand adds.
Mr. Antony Paul of Alice Chettupuzha agrees. "You can sell it any time and anywhere," unlike platinum where you are forced to approach your original seller.
With professionalism making a foray in several domains, this fairly tradition-bound industry can be no exception. The collections offered in Tanishq are the result of considerable research in terms style, demography, and customer profiles. For example, there is a marked difference in urban women's roles nowadays. They are no longer housebound and have a life outside of their homes. "So we introduced lightweights," explains Ms. Saroja, apart from several other collections like Aria, Diva, Hoopla, and so on.
There are several other brand names that offer 18-carat jewellery and sterling silver jewellery. These are primarily Western designs and are not so expensive. Women feel safe wearing them. These pieces are quite a hit with students and young professionals and match with any clothes they wear.
It is a sign of the times that Fabmart offers brands like Carbon, Oyzterbay, Sparkles, Kadam and Kadam, Surat Diamonds, and Vijay Gems through its virtual Jewellery Store. One can browse at one's convenience and take one's pick.
Fast-changing tastes are forcing even venerable names in the industry to keep up with the times. Ganjam, jewellers since 1889 who continue to enjoy the patronage of the erstwhile Mysore royalty, have won several laurels and accolades abroad for their designer jewellery. This year, they won the prestigious international gold design award, Gold Virtuosi, in Italy, considered the Oscar in the jewellery design industry. They have also designed jewellery for the Japanese market, having studied the latter's tastes and trends. "This shows our versatility and our ability to make Indian jewellery acceptable abroad," says a proud G.B. Umesh, Joint Managing Director.
With traditional Indian skills and imbibing Western ideas and craftsmanship, Indian jewellers are cutting across generations to grab the market.
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