Lightweight gold become popular in India
By http://www.jewellerynewsasia.com
Rising gold prices are driving budget-conscious Indian consumers to make the shift to lightweight gold jewellery weighing four to seven grams from the average 10 grams.
"The steep rise in gold prices has not deterred affluent consumers from splurging on gold jewellery, but those with less disposable income are shifting towards five-gram gold jewellery, down from the usual 10 grams," Kishoor Kumar, managing director of Karnataka-based Swarnmandir Jewel Designer Pvt Ltd, told JNA.
Shringar House of Mangalsutra Pvt Ltd in Mumbai launched a gold jewellery collection, called “M7” or “Maximum Seven,” in recent months. “The ‘M7’ collection, comprising 18-karat gold jewellery pieces weighing less than seven grams each, has been unveiled in response to the growing demand for lightweight gold jewellery,” said Chetan Thadeshwar, a director of the company. The collection, commanding prices ranging from $220 to $330 for a jewellery set, has been well received since its launch in early 2011, thanks to its “very economical price points,” Thadeshwar said. Established in 1963, Shringar is renowned for mangalsutra jewellery, which is traditionally offered to the bride during the wedding ceremony.
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