At traffic signals, when engines are off and two minutes too long, is when billboards grab eyeballs and turn story tellers. They sell everything; from serials to soaps to schools. Among them one spots a quiet change. Two young, urban women in casuals advertising a popular jewellery brand with not as much as a chunky piece in sight. Peer closer to spot a gold thread with a tiny, glimmering diamond pendant. The young women are a far cry from what have been staple jewellery advertisements for ages — gold-laden brides. Gone along with elaborate waistbands, loops that weigh down ears and neckpieces burdening the chest are popular perceptions of jewellery, particularly diamonds and the way they are marketed. Simplicity, affordability and diamonds are the enticing trio now.
Diamond jewellery for long celebrated exclusivity and rested in the realm of aspiration. However, the gem that remained a one-time investment till recently, is now undergoing a democratisation of sorts. So too the way brands promote it. If diamonds were reserved for ceremonial milestones, now it aims to be the darling of the masses.
Popular brands are unleashing light-weight diamond jewellery. If one brand has a popular actor cajoling a smitten young man and middle class working woman to spare a few thousands for a diamond ring and studs, another has rolled out an array of diamond wear appropriate for office, casual and daily wear.
Asher O, managing director, Malabar Gold and Diamonds, says the brand’s venture into diamonds for daily wear springs from a firm finger on the customer’s pulse. “Diamonds were long considered unaffordable. We carry out deep-rooted surveys regularly that keep us aware of changing trends. Surveys showed people aspired for diamonds but kept away as they perceived it was not for the common man,” says Asher.
Advertisements with models in a string of expensive stones could not have helped either. “When people thought diamonds they thought heavy neckpieces which were extremely expensive,” says Paul P. Thampi, manager, diamond section at Francis Alukkas. When brands created casual wear, they dwelt on small pieces — nose pins, finger rings, ear studs and pendants.
On an average, a middle class customer comes to a jewel shop once or twice a year, says Thampi. “Usually, they buy gold ornaments. But when we tell them they can have a small diamond piece for almost the same pricing, they are willing to spend money on it,” adds Thampi.
To create diamond pieces in a limited price range was the big test. If a precious jewel was to be available at affordable prices it had no other way but to be small. By default, it had to be simple. Simplicity could be better promoted when given the tag of elegance. The target customer in turn became all women — college-girls, working women and home-makers, particularly those not big on gold.
“We had to have a good design and maintain quality yet keep the cost low. A small variation would take up the price by three or four thousand. We did a lot of trials. Inputs were taken from younger designers too and pieces were finally created by our seasoned hands,” says Asher. He says when the brand eventually came out with their range of light-weight diamonds there was curiosity. “We came with third party certification,” he adds. Apart from finger rings, they also introduced the now popular sets of pendants and ear studs that start at Rs. 19,000.
Beginnings were small, says Thampi. “We began with finger rings, ear studs and pendants. Customers who were regular gold buyers could be convinced to turn to diamonds. Old customers got a better range.” He says, in the last one year, the segment of light-weight diamond jewellery has seen rapid growth. “In fact, this segment now makes nearly 80 per cent of our diamond sales,” pitches in Sethumadhavan K.V., head of the diamond section at Francis Alukkas.
The jewellers agree the revenue from this segment may never tally well with that of bigger pieces. But the saving grace is the volume of sales. “A piece worth Rs.10 lakh may be sold once in six months, but we may be able to sell 15 pieces worth Rs. two lakhs in that period,” adds Thampi.
“Yeah, we might have to sell 20 of those compared to one big piece. But we have large stores with customised sections, so it balances out well,” says Asher.
The smaller pieces have worked well with college students and working women, say jewellers. The light-weight range, says Asher, somehow goes well with work clothes. “Certain kind of gold jewellery may appear awkward with salwar-kameez or other office wear. But they match with understated diamonds,” says Asher. With the range becoming affordable, there are also those who are taking light-weight pieces to be fancy wear too, say jewellers. “It is something they can buy with their monthly salary. In bigger cities, we have women dropping in on the way back from work to buy these pieces,” points out Asher.
Much of the jewellers’ attempt at simple diamond range depended on the way it was promoted. Sethumadhavan and Tampi say their brand sought to keep it real, steering clear of stars and pomp. “We chose college students to be our models. This helped us tap the local market,” says Thampi.
Deepika Govind, Bangalore-based fashion designer, however, believes things with “quality par excellence can never be very cheap.” “Diamonds are set apart on the basis of colour, clarity and cut. As long as people are aware of what they are buying, it is perfectly fine,” says Deepika. Fluctuating gold prices has also made people more diamond-friendly, she says. “The north of India has an enduring fascination with diamonds. Now it is spreading to the south too,” she says.
