There is an increase of 10 per cent to 15 per cent in gold jewellery business in the period beginning with Ugadi up to Akshaya Tadige for Ganjam Nagappa and Sons Ltd., said Dushyanth Ganjam, Head of Retail, Ganjam Nagappa and Sons Ltd., speaking on the sidelines of the launch of its new collection in Mangalore on Tuesday.
In the week before Akshaya Tadige, business increases by 25 to 30 per cent.
“We are expecting the same levels this year too,” he said.
About the rise in the sale of gold coins and biscuits, he said it was because of popular perception that gold was a good investment option.
“They think the future is unclear on the investment front for the next 5 to 10 years,” he said.
Asked about platinum, he said that platinum was seen as an investment option as its prices were “almost” on par with gold.
The sales of platinum jewellery last year increased by 20 per cent in the company.
A growing number of consumers had been trying new materials. However, he said, that platinum would never be a major competitor to the gold. But it would have its own niche.
The collection, called Chestnut Leaf, was priced between Rs. 56,000 and Rs. 10 lakh.
The sales of platinum jewellery last year increased by 20 per cent in Ganjam