ORO to Create Gold Jewelry in 18-Karat Weight
By Jeff Miller http://www.diamonds.net
RAPAPORT... The ORO brand will replicate its 22-karat gold jewelry designs in 18-karat to attract a wider range of consumers in India given that gold prices have risen to so high. Collections by ORO include "Classics," "Movables," "Enamel" (pictured), "Girls," "Openables," "Entwined" and "Links."
''This is an opportune time to introduce our 18-karat designs in the market since the price of gold has shot through the roof,'' said Avinash Pahuja, director of marketing and operations for ORO's parent, Raia Jewels Pvt. Ltd. ''[The price of gold] makes 22-karat unaffordable for some consumer groups. Being a staggering 40 percent cheaper than 22-karat gold products, 18-karat is a definite winner to help loosen-up the purse strings for the price conscious consumers.''
Additionally, the ORO brand expects to introduce new designs using 18-karat. It produces 2,000 pieces daily, but only 10 percent of the products are in 18-karat. The manufacturer expects to increase that ratio to 25 percent soon. ORO expects to make its 18-karat designs available throughout India.
Ravish Pahuja, director of manufacturing and design for Raia Jewels, added, ''Another advantage of 18-karat is that it helps us to experiment and build innovative jewelry designs, since it is easier to give it different shapes because of its tough nature. We are expecting a sale of 100 kg plus in the 18-karat bangles category in the next [fiscal] quarter.''
|
