P C Chandra Jewellers, one of the biggest players in the Rs 1,000 crore jewellery market in Kolkata, has embarked on a Rs 1-crore promotion of its Gold Lite range of super light 22-carat jewellery.
The promotion will use television and outdoor hoardings to familiarize the market with the new range. The print media is not being targeted as of now, since “we have been advertising widely even otherwise,” a company official said.
Aimed at capturing the modern woman’s desire to sport light jewellery, P C Chandra has especially crafted light pieces in the weight range of one to 20 grams with prices Rs 1500 upwards. The pieces include tops, pendants, bracelets, neckpieces and rings that can double up as both office and evening wear.
Although P C Chandra has been selling lighter jewellery since some time, this is the first time that an extremely light range in 22 carat is being put on display, officials at the jewellery house say.
P C Chandra’s foray into this range is part of a wider trend by jewellery houses to target the woman professional who has enough disposable income, and likely to demand pieces in keeping with comfy modern attire. Gem and Jewellery Export Promotion Council Convenor (eastern region) Pankaj Parekh explains the wooing of this segment with “This is where the money is.”
If national players like Gili, Carbon, Oyzterbay, Intergold pioneered the trend, Kolkata has several jewellery houses like Anjali Jewellers, M P Jewellers and others marketing light designs for the working woman.
India, incidentally, boasts the highest demand for gold, pegged at 26.2 per cent of the total global demand. The value of the Indian market is estimated at a total Rs 350 billion.