ere’s some good news for gold ornaments buyers. Swanky gold jewellery showrooms are all set to dot the city soon thanks to the flurry of activity following announcement of Capital city at Amaravati.
The managements of at least five showrooms that have already developed a strong customer base in Hyderabad have decided to open outlets here.
Two such outlets having their base in Chennai and Bengaluru have already chalked out plans to open showrooms before Dasara. These will be in addition to existing 100 plus gold and silver shops, local jewellers say.
They said one of the reasons for jewellers looking at Vijayawada was to cash in on the imminent spurt in demand.
Post-bifurcation, the shops registered more than 10 per cent growth in sales with a majority of the customers purchasing ornaments being from the city, according to Bezawada Jewellers and Diamond Merchants’ Association member Ch. Satyaprasad.
Most buyers used to visit Hyderabad to purchase diamond-studded jewellery and other exquisite ornaments at Abids, Ameerpet, Begum Bazaar, Pot Market and General Bazaar in Secunderabad and other showrooms at Somajiguda, Punjagutta and Patny Centre.
They used to spend at least two days in Hyderabad to complete their shopping but the trend has clearly changed post-bifurcation.
Association president K.J.N. Prasad said a couple of showroom owners have finalised the place in a commercial complex that is coming up on M.G. Road while some others are studying the market potential for eventually taking the plunge. Another showroom on Bandar Road has begun renovation works to give an aesthetic look.
Jewellers said sales are likely to register a positive trend once the auspicious ‘Sravanamasam’ sets in August second week followed by Dasara and Diwali festivals.
“As of now, there has been a downward trend for the past few weeks though prices of gold have come down a bit,” they added.
A couple of showroom owners have finalised the place in a commercial complex coming up on m.g. road
- K.J.N. Prasad,
president, Bezawada jewellers and diamond merchants' association
