Sep 25, 2023

Diamond jewellery poised for 20% increase: Eshwar Surana, MD, Raj Diamonds

Commenting on diamonds and diamond jewellery, Eshwar Surana, MD, Raj Diamonds said “Diamonds have always been an enduring symbol of love, happiness, and the celebration of life's most cherished moments. As we approach the upcoming festive season, the diamond jewelry industry is poised for significant growth, with expectations of a remarkable 20% increase compared to last year's festivities. This year has witnessed phenomenal growth in the industry, and we are hopeful that this growth trajectory will continue in the near future. Notably, consumer spending has seen a substantial uptick, aligning with the phenomenon of 'revenge shopping,' where consumers are indulging in their purchases with newfound enthusiasm. Consequently, the consumer's preference spectrum is becoming increasingly diverse.”

“In terms of design, we believe that diamond jewellery featuring prized colored gemstones will be a big trend in the upcoming festive and wedding seasons. This trend is a result of innovative advancements in diamond jewellery design, resulting in an exceptional range of elite and diverse design offerings. Consumers are increasingly seeking exclusivity, and the modern Indian consumer is showing a marked preference for well-crafted jewellery with a contemporary look”, added Eshwar Surana

“We have all the elements in our product portfolio to appeal to a broader range of consumers and we feel a lot of confidence and optimism for the season. This optimism is fuelled by positive consumer sentiment, driven by a rapidly growing economy, increased disposable income, and the burgeoning influence of Gen Z and millennials. We foresee an exceptionally strong festive season that will further accelerate the momentum of diamond jewellery sales.

With the upcoming wedding season, there is a clear surge in demand for bridal and wedding diamond jewellery. Natural diamonds will continue to be the epitome of luxury and celebrations of personal milestones. It's a season to shine, celebrate, and cherish life's most beautiful moments with the timeless elegance of diamonds.” added Eshwar Surana.