IDEX India Retail January 2012

Jan 12
The Need To Excite

Consumers About
Jewellery
SPECIAL
REPORT
industry
news
MARKET
REPORT
Rebranding & Re-igniting

The Passion For Emeralds
Savvy Consumers Will

Challenge Jewellery
Retail Growth
Cautious Mood
Dominates Diamond
Market
Diamond
Retail
Benchmark
A price list to assure your
customers
Special offer for GJF members

Take a 3-year, highly discounted
membership of IDEX Online for
just $1,470 and get an Apple iPad2
(16GB, WiFi + 3G) completely free!
You save a HUGE amount! The IDEX
membership normally costs $840
a year and a 3-year membership
would cost you $2,520.
Use the iPad to show your
customers the greatest possible
selection of diamonds available
on the IDEX system, at the most
competitive prices!
Prices
are in
Rupee
JUNE 1st 2011
IF
4,50,000 diamonds on offer online.
THE DI
JUN E
AMON
1st
D RETA 2011
ND RE
TA IL
IL BENC
BE NC
HM AR
HMAR
K FO
K - IN
R PO
LIS HE
DIA
D DIA
DIA MO
s Per
Car
.22)
VVS1
at
VVS2
204035
THE DIAMOND RETAIL DBENCHMARK
VS1 - INDIA
167762
d 1/5
(0.18-0
VS2
145092
E
SI1
126955
97 15416
DIAMOND RETAIL BENCHMARK 1722
FOR
POLISHED
DIAMONDS
SI2
117887
0 1314
F 1632
9068
89
MO ND
SI3
Roun
d 1/4
(0.23
-0.28
Round 1/4 (0.23-0.28)
Roun
d 3/8
(0.38
-0
.44)
Round 3/8 (0.38-0.44)
Roun
d 1/2+
(0.50
-0.69
)
Round 1/2+ (0.50-0.69)
Roun
d 0.9
0
(0.90
-0.99
)
Round 0.90 (0.90-0.99)
Roun
Roun
d -1/
2 (0.45
-0.49
)
-0.89
d 3/4
(0.70
Roun
Round 3/4 (0.70-0.89)
Round -1/2 (0.45-0.49)
Round 1/3 (0.29-0.37)
d 1/3
(0.29
-0.37
Roun
Round 1/5 (0.18-0.22)
S
117887
28 1496
2 7708
I1
108819
26 1224
0 6801
I2
G 1496
86148
21 1088
2 5894
I3
26 13148
72546
19 9975
4 4534
9 1133
IF VVS
68012
H 1314
1 3173
1 8161
53 9975
Powered
by
www.idexonline.com
Prices are in Rupees Per Carat
54409
9 D
89 11788
4 6801
1 VVS
Powere
1 8614
40807
237169
2 6347
2 VS1
7 1042
8 7254
I 1088
27205
195006
85 9068
8 4987I1
d by
6 6347SI2
19IF 9521VVS1 VVS2
VS2
I3 E 2002
IF VVS1 VVS2 VS1 VS2 SI1
SI2
I1
I3
VS1
SI1
SI3
SI3
I2
168654
5 3627I2
www.i
2 7708VS2
8 5894
6 9068
SI1
147572
3 2720
76 17919
0 6801
J
dexonl
4 4534
SI2
2 8161147572 137031
137031
5 F
2 5894
5 1528
4 7708195006 168654
89597 79056
68516
105409
52704 36893
D 204035 167762 145092 126955 117887 90682 77080 68012 58944 45341 31739 D8161237169
4 6801
1 3627
SI3
ine.co
105409
189735
42 1370
4 5440
0 7254
3 2267
K 7254
2 6347
I1
m
89597
173924
31 1264
9 4080
6 6347 137031 126490
1 G
8 544084327 79056
6 6801 179195 152842
I2
63245
100138
47434 31623
E 172297 154160 131489 117887 108819 86148 72546 68012 54409 40807 27205 E 200276
1423
79056
90
7
8
1001
1739
5894
3173
02
9 4987
2 6347
I3
68516
126490
38 8432
9 2267
24 1528
L 5894
4 5440
5 4080
8 5440
115949
52704
42 1317
1 H
7 7905
9 4987 79056 73786
57975
F 163228 149626 122421 108819 99751 81614 68012 63478 49875 36273 27205 F 4189735
54409 173924 142302
7 3173 42163 31623
9126490
36893
94868
152842
61 11594
49875115949 94868
6 6324
5 4534
9 2267
54409
M 4987
79056
137031
45341
5 4743
9 1001
1 3627
49875 115949 100138
1 I
121220
73786
84327
38 8432
40807 73786 68516
4 3162
G 149626 131489 113353 99751 86148 72546 63478 58944 45341 36273 22671 G5 173924
49875 152842 131761
352704
126490
31739 42163 26352
49875
57975
105409
40807
3
45341
N 4080
7 7378
18136
110679
45341
42163
89597
36273 47434 36893
40807 105409 89597
6 6851
105409
40807 68516 63245
26352
79056
H 131489 117887 104285 90682 77080 68012 58944 54409 40807 31739 22671 H7 152842
45341 137031 121220
J 9486
31623
7905
27205
40807
6
5270
9486
3173
3627
6
8 8959
68516
18136
4 4216
36273
9
8 7905
3
IF
7 8432
63245
3 2635
3173
K 8432
6 7378
126490
105409
63245 2720
9 3173
110679 3173
94868 79056
73786
579755 47434
I 108819 95216 90682 81614 68012 63478 54409 49875 40807 31739 D22671 I VVS
22671 36893 26352
1 VVS
9 2720
7 7378
47434
2
6 6324
9 2720
7 7905
270303
13602
2 VS1
5 2267
6 6851
36893
5
5
6
2222
5797
7378
2267
6
L
1
57975 52704 1813
42163 36893 21082
89597 84327 VS2
73786 68516 63245
J 81614 77080 72546 63478 58944 54409 49875 45341 36273 31739E 18136 J 94868
49 1922
26352
63245
5 4743
68516
6 6324
1 2267
6 1360
228256
16 1681
57975
63245
4 3689
SI1
5 5797
1 1813
2 M21082
89 156163245 57975 SI2
52704
63245
3 2635
6 1360
5 5270
42163 31623
52704 47434 47434
K 72546 68012 63478 54409 49875 45341 40807 40807 36273 27205F 18136 K204284327
29 174179056 73786
57975
75 12013
42163
2
57975
SI3
2 1360
4 4743
216243
95 15617
57975
36893
5 1021
57975
2
4 4743
5 1441 57975 57975
52704
68516
47434 I136893 I231623 26352N 15811
13602 1982
63245 63245
52704
15 9010
L 22
L 58944 54409 54409 49875 49875 45341 40807 31739 27205 22671
21082
52704
47434
4 4216
162182
62 11412
G 1982
47434
1 7808
47434
3 3162
52704
I3
144162
22
8 9610
47434
8 600626352 21082 15811
36893
3 2108
132148
13602 17419
47434 47434
42163
8 901036893 31623
M 557975
M 49875 49875 45341 40807 40807 36273 31739 27205 22671 18136
42163
IF VVS 42163 3689
15016857975 52704
H 1741
7 4204
31623
2
108121
1 7208
36893
3 3689
132148
95 15617
7 D
26352
1 VVS
9010131623 26352
1 540621082 15811
31623
3 3162
3099
11412836893 36893
2 VS1
15811
26352
15811
N 40807 45341 36273 31739 31739 27205 22671 22671 18136 13602
84094
138155 52704 42163
83 2622
1 3604
26352
I 144113602 N 5 47434
3 2635
96108
66074
93 2265
12013
0 E
62 12614
VS2
21082
2 2635
84094 SI1
48054 I1
102115 VS1 VS2
26 2026
SI2
I1 J I2
I3
IF VVS1 5 VVS2
SI3
SI3
I2 2622I393
15811
2 1201
SI1
2 2108
78088 SI2
36040
232487
81 1669
108121
35 1081
90101
SI2
2 1581
60067
202681
14 13114
78088 131147 119224
F 2503
21 226526
10211D
SI3
1 1581
48054 83457 65573
309983 262293
47690
107302
90101 202681 166914
D 270303 222249 192216 168189 156175 120135 102115 90101 78088 K60067 42047
5 9610
1907
7208
7
71
1
I1
1192
2265
30034
59 1609
84094
96108
1 5406
8
24 1073
I2
53 12518
G 226541728 26 196720
72081 125185 107302
1 4204
90101E 2622938409
4 202681 190759
02 8345
160953
77496 59612
101341
E 228256 204229 174195 156175 144162 114128 96108 90101 72081L 54061 36040
I3
178836
66074
84094 2324877808
26 1967
5 1073
7 3003
8 7208
7 6557
78088
149030
02 10134
54061
20 1728
4
1
3 4769
72081 F 2503717208
1 6607
202641728
119224
4204
75 1549
1 7749
4 6006
36040
196720
149030
77496 H59612
226526
1788366607
119224 101341
95379
F 216243 198222 162182 144162 132148 108121 90101 84094 66074
0
81 1788
M 48054
72081
7 3003
4 6006
101341
6 5961
91 13114
66074
7 4805
36 1549
66074
4
7 5406
95379
2 4172
66074 G 226526
7 11326
4 4204
17287535767
91 13710
6607
1 5406
30034
172875
71534 I 53651
196720
154991 131147
113263 95379
89418
G 198222 174195 150168 132148 114128 96108 84094 78088 60067
77496
8
60067
3 9537
N 48054
7 2402
4 6006
149030
8 1192
54061
1 4805
59612
9 8941
54061
7 J
7 5406
137108
24 1073
4 3604
41728
13710835767
8 7153
5406154991
1 4204107302 89418
7 H 202681 178836
30034
65573 53651
83457
H 174195 156175 138155 120135 102115 90101 78088 72081 54061 42047 6006
02 8941
119224
0 2402
1 4805137108 119224
125185
4 5365
7 3604
IF VVS 48054 4204
107302
8 8345
7 K
4 4204
1 3576
0 3003
7 4204 137108 119224
125185 35767 119224 10134
95379
1 VVS
7 6557
7 3604 95379 83457
107302
42047 30034
77496
D 3305
I 144162 126142 120135 108121 90101 84094 72081 66074 54061
I 2172875 149030
7
4 180259612 47690
7 3604
83457
113263
3 5365
0 3003
1 8941
91 2797
VS1
0 L
0 3003
77496
1 3576
8 8345
4 2402
31 2415J 137108 125185
107302 29806 107302 8941
VS2 119224 101341
489418
E 279742047 24027
59612
J 108121 102115 96108 84094 78088 72081 66074 60067 48054
7
30034 83457 77496
7 7749
771534
86 21615
1802053651 47690
101341
SI1
8 8345
31 2479
4769
2402
6
6
7153
95379
M 8941
SI2
0 3576
7 7153
7 1802
178011
43 2161K 125185 113263
4 5365
83457
24027
107302
29806
7
SI3 71534 65573
4 6557
K 96108 90101 84094 72081 66074 60067 54061 54061 F48054
0 59612
8 8345
139865 89418 83457
267036040
56 2034
18020 48054 41728
1 4769
16 2415
77496
3 5961
I1
7 7749
127150
41 1716
0 2980
N 7153
86 2097
65573
2 4805
I2 53651 41728
6 7153
53 1335
6
107302 101341
95379 83457 1144
77496
59612
23845
30034 18020
65573
35767
4
L 78088 72081 72081 66074 66074 60067 54061 42047 G36040
L 1907
35
241586
98
5961
65573
4 4172
I3
4 6557
89005
08 1144
2 5365
209798
26
8 2980
59612
3 5961
69933
35
1 4172
184368M 894181589
38 12715
6
59612
2 5365
77496 71534 1080
65573
83457
59612 53651
47690 35767 IF29806
M 66074 66074 60067 54061 54061 48054 42047 36040H 30034
5086
78 8264
216156 24027 18020
VVS23845
8 3576
165296
0 D
0 1080
1 VVS
53651
1 4769
190726
8 6357
7 2384
521078
78 10172
2 VS1
53651
0 3576
165296 N 715341398
65 120759612 59612
5 4450
5
400340
53651
23845
65573
53651 47690
41728
N 54061 60067 48054 42047 42047 36040 30034 30034I 24027
184368 18020 18020
0 8264
47690
7 2980
146223
93 1017
3 E 29806 23845
VS2
349504
158938
8 6357
41728
6 2384
387631
1271
20 9536
SI1
279603
5 4450SI3
29806
5
SI2
I1
I3 23 12715 IF 50
SI2
I1
SI3J 1462
I2 1462
VVS1
VS1 VS2
I2 04 I3
3495
1144VVS2
3 7629 SI1
SI2
260539
35 9536
3 F
23 1335
23845
324085
0 5721
SI3
0 1144
3495
216057
08
23845
3 8900
8 3814
35 10172349504 279603
K 1335
I1
89005 69933 1271
50860
260539
158865 12709204101674
D 330591 279731 241586 216156 178011 139865 127150 114435
D 521078 400340
171574
324085 69901 266894 2351
50 1080
5 6993216057 171574
5 G
08 1207
0 8900
I2
158865
298667
21 1969
78 9536
3 5721
311376
93
5 8264
I3
127092
93 1588
8 3814146156 120738
L 1144
82648 635751144
44503
63546 254184 2224
95319
E 279731 247943 216156 203441 171653 133508 114435 108078
E 387631 3349504
2859
89005324085 266894
35 9536
8235121
101674
65 1461
63575196993 158865
57 2668
5 H
35 1080
82648
11 1779
3 8900
69901
56 1207
279603
50860
94
78
29 1461
76290 222411 177929
38 9531
82648 63575101744503
146156
63546 235121 1969
2541
101720
88965
38145133447 114383
F 267016 241586 209798 190726 158938 127150 108078 M
F 3495045324085
76290 298667 254184
20 8900
9536
56 1334
84 2287
57218
3 8900
93
9
6993
I
5
63546
158865
228766
47 1143
50860
66
82648
3 6357
5 8264
127092
83 8896
2097
31788 120738 108028
57191 203348 1715
285957
82610
69933 266894 235121
G 241586 209798 184368 165296 139865 120793 101720 N95363
762976290
5 196993
8 7629G 311376
50860 158865 127092
02 1906
0 6993 57218 38145
120738
74 1461
63575
5 6354
J 1779
0 6993
44503
38 1652
3 6357
108028
56 1207
6
29 165276255 57191
57218 171574 146156
3 254184 228766
31788 114383 101674
20 1461
120738
57218 538145
203348
H 216156 190726 165296 146223 127150 114435 95363 89005
IF 69933
82610
38 11438
44503
20 1525
6357 H 279603 6357
5 5721
VVS
56 1270
K 1525
57191
38145
11 1334
3 1016
8 5086
VVS238145 5 5721
D 6322 63575 150860
92 1143
11 1461 76255 57191
8 209702 190638
74 7625
2543
47 1270
0 3814
146156 127092
114383
165220
I 184368 158938 146223 127150 114435 101720 89005 82648
79 4835
83 1080
56 1398
VS1 I 2287665721
0 L108028 95319
8 5086
92 11438
5 5719
5 3178
07 4153
133447
28 9531
VS2
01 1207
0 4450
E
1
8 2543
3 1016
38 1143
12709276255 50837
9 7625
3 3178
57218 5086020 31788
127092 114383
101674
7629011 4153
165220 152511 133447
365730 J 177929SI1
J 146223 133508 127150 108078 95363 89005 82648 4649
74 9531
0 M 95319 88965
120738
83 1016
5 5719
SI2
8 2543
334736
20 3719
114383
9 8896
F
74 9531
114383
1
SI3120738 114383
0 2543
285145
29 3471
10802869901 50837
5 7625
50860 44503
31788
95319
63575
146156
101674
K 133508 120793 114435 95363 89005 76290 69933 4153
K 152511
20 3781
108028
9 8896
0 N 88965 82610
I1
2541139801
33 3099
101674
5 5083
51 2107
28 3471
95319
95319
5 8261
I2
41 2727
G
95319
7
33 3223
88965
88965 63546 44482
0 6990
179766
48
44503 38145
25430
120738 60
108028 95319I388965 82610 69901
57218
127092
114383
29 3347
L 114435 108078 101720 89005 82648 69933 635753719
L 133447
95319
241754
38 2913
82610
1 5083
117777
36 3099
82610
IF VVS 82610 7625
1983
44
H 3347
6990
7
7438
2541
62
41 2851
76255
1 6354
17356795319 82610 676255
36 303738145 31788
25430
69901 63546
57191 381285 82610
1 VVS
M 95363 89005 82648 76290 69933 63575 57218 50860
M 11438351108028
223157101674 95319
D 7883
45 2603
69901
6 4448
111579
42 2789
2 VS1
69901
19216
12 6579
63546
I 2789
2
74386
229356
47 254125430 N50 95319
63546
167368 82610 69901
61 5710
47 260331788 25430
57191
63546
44503
88965 82610 3 76255
50837 31773 VS2
N 76290 69933 63575 63575 57218 57218 50860
2045
E 651757191 57191
51 2355
57191
105380
61 4531
61 1859
50 2479
38128
SI1
54
55 2107
J 2107
57191
24 4096
64 1611
52I22293 I3
SI2
11 5214 I2
SI2 60SI3
IF60 1921
I3
VVS1 VVS2
VS169 VS2 6818
SI1 7 FSI2
SI3 6145I1
50837
74 3848
204561 I1
56 2107
SI3
105380
614511
03 4158
63 1735
31773
198362
45 3289
60
K 1859
I1
5834
61988 328981 254495
67 1487
81 3910
81 2544
17976674386 D 19216
75 4841142765 86901
788312
409674 384845
204837
64210760
657961 571061
453124
D 632279 483507 415320 365730 334736 285145 254151
3 1673
I2
53 3600
G 5214
71 9918
179766179766 117777
95 2048
173567
60 3972
68 1549
I3
173567
03 4779
17 3165
1
L 1549
37 1427
60 3724
70 1425
66 2420
68 1549
154970 74386 E1673
53 4096136558 80693
8 H316566 242080
70 198362
651754
3910536198
198630
614511 521403
415881
360017
E 464911 415320 371929 347133 309941 272748 241754
65 8690
31 3413
73 9298
148771 173567 111579
422088
80 1986
148771
74 3662
70 1363
95 3041
142573
1
M
2 6198
30 1365
397260
24 3413
74 1301
52 2358
136374 68187 F1363614511
74 1239583475 484160
8 I 304152 235873
73 1363
223157
372431 341395
192423
192163 167368
105380
397260
F 415320 378128 347133 322338 291344 254151 1425
58 8069
372431130351 80693
95 3165
75 8678
353809
73 1924
130175
76 11777
74 1301
347602
66 2793
3
3 5578
N 1301
23 1303
335188
1239
75
7 1053366224 341395
322774
23 2234
9 J 279323 223459
75 1239
Discl aime
61988 G 76
521403
186215
74486
229356 204561
185964 161169 1239
105380
477953 409674
316566
124144
G 371929 334736 309941 285145 260350
3103
51
11157
80
76
80693
291738
291738
59 1862
80585
59 2979
117777
76 1177
9 1053
market r: This Diam
266909
15 12414
279323
55789
45 2731
80 8058
11157
77
data from
ond173567
of Diam210760
192163
61988 H 9422088
266909 211044
173801
99181
347602
117936 74486
2669
211044
H 334736 303742 278947 254151 235555
105380397260 372431
16 2607
4 7448
K 2420
Reta il 14877111157
5 6818322774 291738
9 1053
09 2544
the
173801
02 2358
6
80 2358
80
9918
7 4959
sourc ond Bour ses diam ond Benc hmar
95
e of the
117936
k India 619889918
74386297945 273116
73 1924
73 2234
0260702
1 9918 335188 1310359
(WFD154970tradi
167368
235873 192423
161387
68279
92982
111729 2358
I 278947 260350 247952 229356 210760
73 2296
L 2048
ng cente
(DRB) I 353809
B) The 142573
74486
23 1613
India 192163
61988
59 21104
1 9298
Thiss diam
ond certif
66 2110
rs Worl
37 1986
Gem
DRB
87 11172
43392
pricJewe
4
2 6818
and
dwid e is an infor
44 1738
shou
30 1924
icate; 130175
e list
30 1924
9 6827
ld be 55789
M 1862
291738
211044 173801
148972
68279
matio279323 266909
167368
136374
86783
1055221986
J 210760 204561 198362 179766 173567 edu
7 254495
andJ mark
fluor escen
llery
01 1489
55789 235873 229666
23 1800
used
cati154970
Trade
23 1738
9
15 1800
ects
et resea nal and educ
as back
on on refl
ce; cut
72 1055
37193
08 1738
Fedesug
01 1489
08 1738
rch asses
ation al
ratio80585
spec ificatKgrou
ges
pric es
22 6827
01 1675
N 1675173801 148972
105380
55789
242080
223459
117936
117777
nd infor235873
K 185964 179766 173567 154970 148771 136374 123976
n (GJF)
ted
72 1179
tool 198630 192423
01 167593108 62072
smen 211044
ions;
94 1551
and disc
9
, a reta
94 16138
trade il pric
36 9310
94 1613
paym matio n only. t of custo for diam ond
80 1365
body 204837
ent and 192423
7 1551111729 86901
mary
87 15518
Actu180008
8 6207
cons umer
es quar
49590
173801
155180 136558
55865
L 154970 148771 142573 136374 130175 123976 111579 105380 80585 68187oun
L head
retai 167594
58 11172
80 15518
ts plea
al
for198630
othe r
2
poli she
0 1427
s. Orga
term s diam ond sale l mark-ups.
DRB.indd
9 8690
se visi tered
0 1489
65 12414
in Mum
nized
of busin
d bai,
Endo rsed
price s
diam
1 5586
t 180008
29
arou nd 80693 72
173801
161387
105522
55865
111579 105380 99181 74386 61988 43392 M 186215
167594
124144
M 142573 136374 130175 123976 117777
ww w.d
142765
ess; forei155180
4
may142765
ond
and
1055
by
5
the
be
the All
130351
22 8069
diffe r
gn exch
iam ond IDEXs., aDia
India the 4Cs
comp 99315
diam
mon
ange
111729
3 5586
Gem
130351
55865
- Cara
155180
142765
74486
SRP148972
ared to
N 130175 123976 117777 111579 105380 99181 99181 92982 68187 55789 37193 N 167594 161387D 155180
ds
rates111729
& Jewe
resea
.com . ond
99315
may
t,
5
RAF
; spec
, and
ial stonethis benc hmar lry Trade Cut, Colo r
hous
Cop yrigrchCut,
74486
T JUN
E 1st4Cs
Disclaimer: This Diamond Retail Benchmark India (DRB) is an informational and educational tool for diamond consumers. Organized around
Color
& Clarity
-s the
India
is basedFede
on
e head
sho
& Clari
Jthe
A the
k, depe
55865
andDRB
uld,
N A2011- Carat,
ht 200
quar
nding ratio n (GJF) ty - the
tered
market data from the diamond trading centers Worldwide and market research assessment of customary retail mark-ups. Endorsed by the All India Gem U
& Jewelry
Trade Federation
as well
as othe
the World
Federation
sell
r
R Y 1st
9 (GJF),
in Tel
at
, as well DRB India
by WFsupply
ess cons on dema
discbusin
Aviv
2 0 10
of Diamond Bourses (WFDB) The DRB should be used as background information only. Actual diamond sale prices may be differ compared to this benchmark, depending
on demand and
at time
of
transaction;
oun
Israe
DB and
iderationsnd and supp as the Worl is base
l, ts
d
com
source of the diamond certificate; fluorescence; cut specifications; payment and other terms of business; foreign exchange rates; special stones and other business considerations. This is published jointly
The
aAll
IDE Xbywith
parofed. This is publily at time of d Federatioon
view
This and
price
list reflects
suggested
prices
for polished
diamonds.
may,house
andheadquartered
should, sell
at Aviv
discounts
compared
to this
list.toFor
Onl ine
India Gems
Jewellery
Trade Federation
(GJF), a retail
trade body
headquartered
in Mumbai,
and IDEX, aDiamonds
diamond research
in Tel
Israel, with
a view of unbiased
service
the more
consumer
n
to this shed
unbia
trans
S.A . Allsed
servi
list. jointly by action;
education on prices and discounts please visit www.diamondSRP.com. Copyright 2009 by WFDB and IDEX Online S.A. All rights reserved.
the mor The All
29
righ tsce toFor
JUNE 1st 2011
e
rese consumer
D R A F T J A N U A R Y 1st 2 0 10
rve d.
29
DRB.indd 29
Hurry! Offer available only

as long as stocks of iPads last!
31-May-11 4:32:34 PM
31-May-11
4:32:34
PM
Guaranteed Diamond Transactions

(GDT) system assures youll get
your diamonds and that they are
exactly what they claim to be.
Diamond Retail Benchmark (DRB)
our proprietary retail diamond
price referencing system.
Call us today at 022-66332187

or email us at mumbai@idexonline.com
www.idexindiaretail.com
Contents
magazine india retail
JANUARY
J A N UA RY 2012
VOL. 1 No. 14
05 FROM THE EDITORS DESK

An Idea & Excitement - That's All We Really Have
06 MUMBAI DIAMOND MARKET
REPORT
Exchange Rate, Cautious Mood Dominate Market
10 SPECIAL REPORT
Rebranding & Reigniting The Passion For Emeralds
Editorial Department
EDITOR-IN-CHIEF Vinod Kuriyan
Editors Edahn Golan, Danielle Max
IDEX ONLINE RESEARCH Ken Gassman
INTERNATIONAL CORRESPONDENT
Tamar Katzav
ADMINISTRATION & MARKETING
Managing Director Yaron Barzilay

Marketing Manager Kuldip Bedi
SALES MANAGERS
16 ONLINE RESEARCH
Anish Kuriakose, Osnat Davidov, Avivit Morhaim, Yaron Barzilay

PRODUCTION & CIRCULATION Helena Dorsht
ACCOUNT MANAGER Rinat Oz
21 RETAIL ET CETERA
ART DEPARTMENT
GRAPHIC DESIGNERS
27 DIAMOND RETAIL BENCHMARK

40 COVER STORY
The Need To Excite Consumers About Jewellery
52 INDUSTRY NEWS
Savvy Consumers Will Challenge Indian Jewellery
Retail in Future Growth
56 TREND REPORT
Slice Jewellery The Hottest Trend
08 _w~B
hram ~mOma H$s [anmoQ>

{d{Z_` Xa, gmdYmZr H$s ^mdZm ~mOma go ^m{dV
~mOma
{deof [anmoQ>
bmoJm| _| {\$a go nm Ho$ {V bbH$ nXm H$aZo H$s
H$mo{ee
34
46 AmdaU
H$Wm
Am^yfUm| Ho$ ~mao _| Cn^mo$mAm| H$mo o[aV H$aZo H$s
Amd`H$Vm
Boris Mandelis (RD Media group)

Tera Kaur (RD Media group)
Printed by SAP Printers, Lower Parel, Mumbai 400 013
IDEX INDIA
Office # 20, Kala Bhavan, 4th Floor, 3 Mathew Rd., Opera
House, Mumbai 400 004, India
Tel: +91-22-6633-2187, Fax: +91-22-6633-2186
Email: mumbai@idexonline.com
IDEX USA
7 WEST 45TH ST. SUITE # 1602 NEW YORK, N.Y. 10036, U.S.A.
TEL: +1-212-3823528, FAX: +1-212-3822671
IDEX BELGIUM
74 LANGE HERENTALSESTRAAT, 2018 ANTWERP, BELGIUM
TEL: +32-3-2341157, FAX: +32-3-2342463
IDEX HONG KONG
TEL: +852-28400514, FAX: +852-28400652
IDEX ISRAEL
11 HaRakoon St., P.O.BOX 3107, RAMAT GAN 52521, ISRAEL
TEL: +972-3-575-7455, FAX: +972-3-7511203
IDEX Magazine - India Retail is published in India by Idex Online S.A.. Reprints
of individual articles are obtainable on application to the editor. All rights reserved.
No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form or by any means without the prior written permission of
the Copyright owner.
Published by Yaron Barzilay for IDEX Online S.A
ISSN 0334-6838
2003 IDEX ONLINE S.A.
w w w. i d e x o n l i n e . c o m
4
IDEX MAGAZINE INDIA RETAIL| NO 14
Ed ito r
by Vinod Kuriyan
An Idea & Excitement Thats All

We Really Have
A gem dealer once pointed out that he didnt sell
anything except ideas. Thats all a gemstone is really
an idea. But to get the consumer to buy into that idea, it
has to resonate with what he or she aspires to, thinks is
important, and most of all, is excited about. The gem and
jewellery industry worldwide seems to have forgotten that
and is busily trying to sell its product like a commodity.
India, which began consuming diamonds only relatively

recently, has had some strong growth in consumption
over the past few years. But India doesnt have the strong
diamond engagement ring tradition to keep its diamond
jewellery sales going at all times. If consumer interest
in diamonds fades even slightly, it could have huge
consequences on the industry.
The trouble is, diamonds, gemstones and jewellery

arent commodities. And the only thing that keeps them
moving off the sales counter is consumer interest in
some vestiges of ideas that have been built up over the
years. The De Beers idea that a diamond symbolizes the
relationship between men and women and that personifies
the undying nature of love in that it is forever is one
such idea.
There are those in the industry who see this and realize
that something needs to be done. Unfortunately, these
clear-thinking people are a small minority. The Indian
jewellery retail industry hasnt caught on to the urgency
of the situation yet. Even some long-time jewellery retail
veterans are still blaming economic conditions for a
sudden disinterest on the Indian consumers part in the
product they are selling. They havent even considered
the fact that it might not be the market at all, it might be
simply about the product itself and the consumers
lack of enthusiasm for it.
That idea has kept the diamond and diamond jewellery

industry alive these last few decades through sales of the
diamond engagement ring and its strong influence on
bridal jewellery purchase choices. But there are fewer
people getting married in the West and many of the
younger generation dont buy into the idea of a diamond
symbolizing their personal relationships.
IDEX MAGAZINE INDIA RETAIL| NO 14: EDITOR
Something needs to be done to get the consumer excited

about gems and jewellery again. It is worth remembering
that if the consumer stops buying into the idea of diamonds,
gemstones and jewellery, we would have no industry left. IDEX
MU M BAI
DIAMOND MARKET
R E P O RT
Exchange Rate, Cautious Mood

Dominate Market
by VINAY PAREKH
aution and uncertainty rule the Mumbai diamond

market. With the dollar soaring to record levels
against the rupee within the space of a week in the first
half of December, diamond dealers were caught in a
difficult situation. While a weak rupee makes for much
more competitive export prices, overseas demand hasnt
been all that strong of late. The domestic market, which
had shown strong demand and helped the Indian industry
weather the worst of the recent global economic crisis,
has now seen demand fade as diamonds become suddenly
more expensive due to the strong dollar.
The recent agreement by the Kimberley Process clearing the
shipment of rough diamonds from Zimbabwes Marange

fields has also impacted the market. Diamond dealers are
also cautious about holding large inventories as they are
uncertain about what effect the influx of Zimbabwe rough
will have on global prices and demand. They are likely
to stay cautious over the first quarter of 2012, until the
demand and pricing situation clarifies.
By mid-December, polished buying in the Mumbai market
had become very specific. Buyers were not willing to buy
anything extra at all and would only commit to the specific
qualities and quantities they needed.
IDEX
IDEX MAGAZINE INDIA RETAIL | NO 14: MARKET REPORT
MUMBAI DIAMOND TRADING IN DECEMBER

Size in Carat
(Sieve)
Comments
Forward Call
-0.01 (-2 )
Good demand for Top colors VS-SI.

Fair demand for white SI & piqu goods.
Overall demand & prices will remain soft.

Prices for top shades will remain stable.
-0.02 (+2-6.5)
Very good demand for white SI & piqu

goods.
Good demand for Top colors VVS-SI &
white natts.
Demand & prices will remain firm. Some

shortages will be experienced due to low
productions.
0.03-0.07 (+6.5-11)
Fair demand for Top colors VS-SI & white

piqu goods.
0.08-0.14 (+11-14)
Good demand for piqu goods.

Fair demand for VVS-SI goods.
Demand & prices will remain soft.
0.15-0.17 (+14-15.5)
Good demand for piqu goods.

Fair demand for VVS-SI goods.
Demand & prices will remain soft.
0.18-0.22 (1/5)
Fair demand for SI1+ & piqu goods.
Overall demand will remain low, prices will

be soft.
0.23-0.29 (1/4)
Fair demand for SI1+ & piqu goods.
Overall demand will remain low, prices will

be soft.
0.30 (1/3)
Good demand for VS-SI goods.

Some demand for piqu goods.
Demand is likely to improve. Prices will

remain firm.
0.40 (3/8)
Fair demand for VS-SI goods.
Overall demand & Prices will be stable.
0.50 (1/2)
Good demand for VS-SI/J+ col.

Fair demand for I1 lower goods.
Demand & Prices will be stable.
0.75 (3/4)
Good demand for +0.90 carat SI+/F-J col.

Fair demand for I1-I2/J+ col.
Demand & prices for VS-SI /+0.90 cts. will

remain strong.
1.00 (4/4)
Very good demand for VS & SI/F-M col.

Good demand for I1 & lower piqu goods.
Overall demand will be stable, prices will

remain under pressure. Demand for lower
colors will be stronger.
+3.00
Fair demand for SI-I2/G-K colors.
_w~B hram
~mOma H$s [anmoQ>
{d{Z_` Xa, gmdYmZr H$s ^mdZm ~mOma

go ^m{dV ~mOma
{dZ` nmaoI mam
gmdYmZr VWm A{Z{VVm _w~B Ho$ hram ~mOma H$mo ^m{dV H$a
ahr h& {Xg~a Ho$ W_mY Ho$ EH$ hVo _| n`m Ho$ _wH$m~bo
S>mba Ho$ [aH$mS> Va go _O~yV hmoZo go hrao Ho$ `mnmar ~war
n[apW{V _| \$g JE h& Ohm H$_Omoa ^maVr` n`m go {Z`mV
H$s_V H$m\$s {V`moJr hmo JB h, dht {dXoem| Ho$ hrao ~mOma ^r
CVZo _O~yV Zht aho {OVZo hmb VH$ Wo& Kaoby ~mOma Zo Jhar
_mJ {XImB Ama ^maVr` CmoJ H$mo hmb Ho$ d{H$ Am{WH$
gH$Q> Ho$ ~mdOyX _XX H$s& na A~ _mJ KQ>Vr ZOa Am ahr h,
`m|{H$ _O~yV S>mba Ho$ H$maU AMmZH$ hr hram H$m\$s _hJm
hmo J`m h&
qH$~b} mogog mam gn hmb Ho$ g_PmVo go {O~mdo Ho$ _a|O
\$sS> go AmZo dmbo IwaXao _mbm| Ho$ Ion H$s pb`[aJ Zo ^r

~mOma na AnZm ^md {XIm`m h& hrao Ho$ `mnmar ~S>o Bd|Q>ar
H$mo hmoS> H$aZo Ho$ ~mao _| gmdYmZ h, `m|{H$ do {O~mdo a\$
Ho$ AmJV go d{H$ _y`m| d _mJ na nS>Zo dmbo ^md Ho$ ~mao _|
A{Z{V h& Eogm VrV hmoVm h {H$ do 2012 Ho$ W_ _m{gH$
VH$, O~VH$ {H$ _mJ Ama _y` H$s pW{V n> Z hmo OmE,
AnZo H$X_ \y$H$-\y$H$ H$a ~T>mEJo&
_w~B ~mOma _| _` {Xg~a VH$ nm{bS> _mb H$s IarXXmar
A`V {d{e> ahr& IarXXma Hw$N> ^r A{V[a$ Zht IarXZm
Mmh aho Wo Ama do Ho$db AnZr Amd`H$Vm H$mo XoIVo hE {d{e>
JwUdmm VWm _mm _| hr _mb H$s IarXXmar H$a aho Wo& ID E X
{Xg~a _mh _| _w~B _| hrao H$m H$mamo~ma

AmH$ma H$aQ> _|
(grd)
{Q>nUr
\$madS> H$mb
-0.01(-2 )
Q>mn H$ba VS-SI H$s AN>r _mJ&

g\o$X SI VWm {nH$ JwSg H$s AN>r _mJ&
Hw$b {_bmH$a _mJ VWm _y` Za_ hr ah|Jo&

Q>mn eoSg H$s H$s_V| pWa ah|Jr&
-0.02 (+2-6.5)
g\o$X SI VWm {nH$ JwSg H$s H$m\$s AN>r _m&

Q>mn H$ba VVS-SI VWm g\o$X ZQg H$s AN>r _mJ&
_mJ VWm H$s_V| _O~yV ah|Jr& H$_ CnmXZ Ho$ H$maU

WmoS>r H$_r XoIr OmEJr&
0.03-0.07 (+6.5-11)
Q>mn H$bg
_mJ&
0.08-0.14 (+11-14)
{nH$ JwSg H$s AN>r _mJ&

VVS-SI JwSg H$s AN>r _mJ&
_mJ VWm _y` Za_ ah|Jo&
0.15-0.17 (+14-15.5)
{nH$ JwSg H$s AN>r _mJ&

VVS-SI JwSg H$s AN>r _mJ&
_mJ VWm _y` Za_ hr ah|Jo&
0.18-0.22 (1/5)
SI1+
VWm {nJ _mbm| H$s AN>r _mJ&
Hw$b {_bmH$a _mJ H$_ ahoJr, H$s_V| Z_ ah|Jr&
0.23-0.29 (1/4)
SI1+
VWm {nH$ _mbm| H$s AN>r _mJ&
Hw$b {_bmH$a _mJ H$_ ahoJr, H$s_V| Z_ ah|Jr&
0.30 (1/3)
VS-SI
_mbm| H$s AN>r _mJ&

{nH$ _mbm| H$s WmoS>r-~hV _mJ&
hrao _| gwYma H$s g^mdZm& H$s_V| _O~yV ah|Jr&
0.40 (3/8)
VS-SI
Hw$b {_bmH$a _mJ VWm H$s_V| Wm`r ah|Jr&
0.50 (1/2)
VWm g\o$X {nH$ _mbm| H$s AN>r
_mbm| H$s AN>r _mJ&
VS-SI/J+ col.
I1
0.75 (3/4)
VS-SI
H$s AN>r _mJ&

bmoAa JwSg H$s AN>r _mJ&
Hw$b {_bmH$a _mJ VWm _y` Za_ hr ah|Jo&
_mJ VWm H$s_V| Wm`r ah|Jr&
H$aoQ> SI+/F-J col. H$s AN>r _m&

I1-I2/J+ col. H$s AN>r _mJ&
VS-SI /+0.90 cts. Ho$
1.00 (4/4)
VWm SI/F-M col. H$s AN>r _mJ&

I1 VWm bmoAa {nH$ _mbm| H$s AN>r _mJ&
Hw$b {_bmH$a _mJ Wm`r ahoJr, H$s_V X~md _| ahoJr&

bmoAa H$bg H$s _mJ _O~ya ahoJr&
+3.00
SI-I2/G-K
Hw$b {_bmH$a _mJ VWm H$s_V| Za_ ah|Jr&
+0.90
H$bg H$s AN>r _mJ&
{bE _mJ VWm _y` _O~ya
ah|Jr&
SPECIAL
REPORT
MEMO
by Vinod Kuriyan
Rebranding & Re-igniting

The Passion For Emeralds
Gemfields infuses emotion, ethics and the environment
into the gems perceived value
I want to rebrand and re-ignite consumer demand for

emeralds, says Ian Harebottle, CEO of the emerald
and gemstone mining group Gemfields. In emeralds,
we have a product that was known to the Incas and the
Aztecs, to Genghis Khan and Cleopatra. And yet the entire
coloured gemstone market globally is valued at just $1.5
billion (Rs.7,736 crore). Compare this with the net profit of
a single company, Louis Vuitton, which was pegged at $2.5
billion (Rs.12,894 crore)!
Again, Harebottle asks, Those companies deal in leather
and plastic products. Why is it that we, dealing in a precious
product like emeralds, cannot command more value in the
market? He then answers his own question: The issue
10
is branding. Louis Vuitton understands branding and has

established value in its name alone. Emeralds dont have
that. And theyre in the market, trying to grab the consumers
attention for relatively very low value when actually, we
should be up there with them.
In its own way, Gemfields says it has helped push up the
price of emeralds through organized mining and regular
supply to cutting and polishing firms in Jaipur as well as
other cutting centres. A regular supply and consistent
quality, along with a guarantee of ethical practices has
helped the cutting and polishing industry not only plan its
business better, it has given it the necessary ammunition to
push prices up.
IDEX MAGAZINE INDIA RETAIL| NO 14: SPECIAL REPORT
In emeralds, we have a product that was known to the

Incas and the Aztecs, to Genghis Khan and Cleopatra. And
yet the entire coloured gemstone market globally is
valued at just $1.5 billion (Rs.7,736 crore). Compare this
with the net profit of a single company, Louis Vuitton,
which was pegged at $2.5 billion (Rs.12,894 crore)!
Along with organization and advanced planning, Gemfields
has also worked at building up the perceived value of
emeralds through initiatives that resonate with consumers
worldwide. One such is the Emeralds for Elephants
program. The initiative has high-profile patrons including the
likes of BBC wildlife presenter David Attenborough whom
consumers all over the world recognize as a positive force
for the environment. It donated a percentage of the sale
proceeds from an elephant-themed emerald jewelry collection
towards creating safe migration corridors for elephants.
After a successful outing in London, the initiative was

brought to India with Bollywood actress Madhuri Dixit as
its brand ambassador. The Indian auction raised Rs.3.68
crore ($750,000), of which Rs.73.54 lakh ($150,000) will go
to the World Land Trust and the Wildlife Trust of Indias
conservation projects in India. The two organizations have
been working on creating a network of wildlife corridors
that will allow elephants to follow their regular migratory
routes while minimizing human-elephant contact and
conflict.
11
Apart from issues such as wildlife and the environment,

Gemfields, which runs the worlds only known organized
emerald mine, Kagem in Zambia, takes pains to let it be
known that its emeralds are mined ethically. The mine,
which is 25 percent owned by the Zambian government,
works at improving the quality of the miners lives from
building local community schools and medical clinics to
educating neighbouring communities on agriculture or
HIV/AIDS prevention.
Gemfields also prides itself on its environmental conduct.
As Dev Shetty, the companys CFO explained, Nobody
in the world mines and sells emeralds the way we do. The
mine area had already been worked by artisanal diggers by
the time we acquired it and was a mass of open pits. We
flooded these pits and made them fish reservoirs. For our
current operations, we back-fill our waste we dont haul
it out of the mine but dump it in a part of the mine that has
already been worked, thus filling up the deepest parts. We
also plant trees after weve dumped our waste.
SEEKING HIGH STANDARDS THROUGHOUT THE
PROCESS CHAIN
Apart from its own ethical conduct, Gemfields wants
the entire process chain to live up to the same standards.
Playing something of the role De Beers once played in the
diamond industry, Gemfields wants to push the colored
gemstone processing industry towards greater transparency
and full disclosure of any treatments a stone might undergo
before reaching the end consumer. Gemfields states it will
stop sales of rough to those gem cutters who dont practice
full disclosure.
Ian Harebottle
The issue, Shetty acknowledges, is to get retailers on board

with regard to disclosure. Once it leaves the cutting and
polishing firm, theres not much we can do to ensure that
the emerald continues its journey with full disclosure. We
encourage our clients to sell their polished only to those
retailers they know will abide by our requirement for full
disclosure. But at the end of the day, it is the retailer who
decides whether or not full disclosure should accompany
the emerald across the sales counter.
Rough emeralds
12
But back upstream, Gemfields has led by example.

Explaining how effective the mines environmental
measures have been, Shetty notes that when Gemfields
began operations, its environmental liability fund as assessed
by the government was $5.2 million (Rs.26.9 crore). After
assessing all that has been done to date, the environmental
liability has come down to $500,000 (Rs.2.6 crore).
Gemfields biggest impact has been on the emerald

processing market. The entire production from the mine
is sorted into 200 grades and sold at auctions that are held
regularly. High-value material is sold at auction in London,
Johannesburg and Singapore, while the low end is auctioned
in Jaipur. The precise sorting procedure enables Gemfields
to identify where most of its value comes from with great
exactitude. We get 80 percent of our value from just 8
percent of the rough, Shetty explained. The remaining 92
percent, while accounting for the vast majority emeralds
that are cut an polished, is basically what keeps the mass
market supplied.
But though values are relatively low for these mass-market
goods, their systematic sourcing and sales has helped steadily
grow their value. An auction last November in Jaipur of 9.8
million carats of low-end emerald rough netted $11 million
(Rs.56.9 crore), delivering $1.12 (Rs.57.97) per carat. This is
45.5 percent higher than the $0.77 per carat (Rs.39.86) that
was achieved in March this year when 12.98 million carats
sold for $9.9 million (Rs.51.24 crore). When compared to the
March 2010 auction, when 22.8 million carats sold for just
$7.2 million (Rs.37.3 crore) or $0.31 (Rs.16.05) per carat, the
per carat price has risen a whopping 261.3 percent.
The November auction saw 27 companies bidding for a
total of 10.8 million carats. Of the total, a million carats
remained unsold as bids did not reach the reserve price.
The auction also featured traded material rough
from other mining sources that does not carry the ethical
and best practice guarantees that Gemfields offers for the
rough from its own Kagem mine in Zambia. Sales figures
for the traded material are not available.
Prospective buyers check a rough emeralds transparency
Workers at the Kagem mine
13
Where the global diamond

market is today valued in
tens of billions of dollars,
the global emerald market is
estimated (there are no official
figures) at around $330 million
(Rs.1,708.2 crore). Of this, says
Shetty, Gemfields accounts
for some 20 percent (with a
lot of leeway for very inexact
figures). Of this, the Indian
cutting and polishing industry
absorbs some $250 million
(Rs.1,294 crore). Last fiscal year
(ended June 30) Gemfields had
sales of $40.2 million (Rs.208.1
crore). With just two auctions
in the current fiscal year
under its belt, it has generated
$42.6 million (Rs.220.5 crore) in
sales.
Prospective buyers at Jaipur
14
Separation at Kagem mine
Gemfields says its next auction will be for high-end

material and will take place in March 2012. The last high
end auction was in July 2011 at Singapore and fetched $31.6
million (Rs.163.57 crore) for the 740,000 carats sold. This
translates to $42.71 (Rs.2,210.71) per carat a staggering
870.7 percent over the $4.4 (Rs.227.75) per carat at the July
2009 auction. It is also a strong 63 percent over the $26.2
(Rs.1,356.16) per carat at the last auction in Johannesburg
in December 2010.
Where the global diamond market is today valued in tens of
billions of dollars, the global emerald market is estimated
(there are no official figures) at around $330 million
(Rs.1,708.2 crore). Of this, says Shetty, Gemfields accounts
for some 20 percent (with a lot of leeway for very inexact
figures). Of this, the Indian cutting and polishing industry
absorbs some $250 million (Rs.1,294 crore). Last fiscal
year (ended June 30) Gemfields had sales of $40.2 million
(Rs.208.1 crore). With just two auctions in the current fiscal
year under its belt, it has generated $42.6 million (Rs.220.5
crore) in sales.
EMERALDS STILL NOWHERE NEAR FULL POTENTIAL

Despite this impressive price performance, Harebottle
thinks emeralds havent even begun to achieve their true
value. Emeralds, he says, are 20 times rarer than diamonds.
They also have played a greater role in human history
according to him. He notes that records show that emeralds
were bought and sold in Babylonian markets as early as
4,000 BC. And yet, the green gemstone hasnt had the kind
of value perception in the consumers eyes that diamonds
enjoy today. This, according to him, is what Gemfields
wants to change.
India is an important country on the emerald sales map. In
terms of consumption, India has steadily grown, particularly
after the economic downturn of 2008. India now accounts
for an estimated 50 percent of global consumption, while
the United States accounts for roughly the other half
having once accounted for some 80 percent of global
consumption.
With a growth market in hand, Gemfields is also looking at
expanding its production. It hopes to close the acquisition
of a Brazilian mine in 2012 with an investment of between
$10- and $15 million (Rs.51.8-Rs.77.6 crore). The expansion
plans are also lateral Gemfields says it is close to
acquiring a 75 percent stake in a ruby mine in Mozambique.
Rough emeralds at the Kagem mine
It is looking at other mines and other gemstones as well,

including a tourmaline deposit in Tanzania.
In India, where the coloured gemstone industry has for
long been dominated by the astrology-driven market
and thus been limited to low value stones, the Gemfields
approach of striking an emotional chord with consumers
and raising the value perception of its emeralds as any
other gemstones it may mine in the future holds out
hope for tremendous value growth in the market.
IDEX
15
Idex Online Research
by Ken Gassman
JEWELLERY Suppliers Prices

Slip in October
Retail prices of jewelry rose by nearly 3 percent in October

compared to retail prices in September.
fter months of strong upward pressure, jewelry

suppliers prices in the U.S. market showed modest
deflation in October, according to new data from the
government. In contrast, jewelry retail prices rebounded
sharply from Octobers pause. This disparity is good
news for retail jewelers since it shows that they may be
recovering some of the high costs related to surging jewelry
commodity prices diamonds and precious metals over
the past several quarters.
Wholesale jewelry prices, in contrast, declined very modesty

by about 0.2 percent in October, when compared with
wholesales jewelry prices in September.
Heres what this means for the American jewelry industry:
the margin squeeze that specialty retail jewelers have felt
Jewellery Producer Price Index
Graph 1
220
210
200
190
180
170
160
150
J
2010
2011
Source: BLS
16
IDEX MAGAZINE INDIA RETAIL| NO 14: ONLINE RESEARCH
since 2009 has paused, if only briefly. With retail jewelry

prices edging higher and supplier prices stable or down very
slightly, jewelers profit squeeze could be relaxed. However,
it is not possible to tell if this is a one-month anomaly, or if
this is the beginning of a new short-term trend.
less than the year-over-year increase of nearly 19 percent

in September, the largest increase since we began keeping
jewelry inflation statistics in 1980, more than 30 years ago.
Octobers large gain was driven almost entirely by rising
prices for gold and other precious metal jewelry, which
were up by over 22 percent in the month, year-over-year.
While jewelry commodity prices seem more or less stable

in the current environment, they correlate somewhat to the
global economic climate. According to the latest forecasts
from the OECD, the economies of most of the diamondconsuming countries are expected to weaken in 2012. If
demand fades, prices for jewelry commodities should also
decline.
Graph 1 illustrates that suppliers jewelry prices have been

climbing steadily since 2010, with a pick-up in the pace of
inflation in early 2011, followed by a pause in October.
Retail prices of jewelry were up 11 percent in October
versus the same month a year ago. This was the largest
jump since 1988, when the governments Bureau of Labor
Statistics (BLS) began using the current data base. Jewelry
prices were up only modestly in October 2010, so this
years comparison was against an easy comparison last year.
Inflation Remains Rampant At Supplier Level

Inflation continues to be a major challenge in the U.S. retail
jewelry market. However, some of the inflation pressures
eased during October when jewelry supplier prices declined
very modestly, according to new government data.
Graph 2 illustrates that retailers jewelry prices have been

rising steadily since 2010. In early 2011, retail jewelers
raised prices because they felt that 1) the economy was
poised for a solid recovery; and, 2) consumers would likely
Suppliers prices for jewelry in October soared by 17.5

percent over the same month a year ago. This was slightly
Jewellery Consumer Price Index
Graph 2
175
170
165
160
155
150
145
140
135
J
2010
2011
Source: BLS
17
Jewellery Inflation Factors

October 2011
Year/Year
Change %
October 2011/
October 2010
Month/Month
Change %
October 2011/
September 2011
Change %
10 Months
2011/2010
YTD
U.S. Jewellery Producer Prices & Components

Jewelry Producer Price Index
Gold & Platinum Used in Jewelry
Watches / Clocks
17.5%
22.4%
1.3%
(0.2%)
2.1%
0.0%
13.6%
16.3%
1.0%
U.S. Jewellery Consumer Prices & Components

Jewelry & Watch Consumer Price Index
Jewelry Consumer Price Index
Watch Consumer Price Index
11.0%
12.2%
3.1%
2.6%
3.0%
(0.3%)
8.6%
9.8%
1.5%
Jewellery Commodities August Average US $ Price

Polished Diamonds
n/a
Gold
$1,665
Silver
$31.97
$1,535
Platinum
19.7%
24.1%
36.7%
(9.1%)
(1.6%)
(6.0%)
(16.2%)
(12.2%)
16.8%
29.3%
92.4%
10.4%
Source: Various Markets
tolerate higher jewelry prices. That kink in the inflation

curve is clear in January 2011. The good news is this: based
on recent sales trends, higher jewelry prices during most of
2011 have had no negative impact on consumer demand
for jewelry.
The Table provides detailed summary of inflation rates in
the U.S. jewelry industry for the following: 1) year-to-year
price comparison for the month of September; 2) month-tomonth price comparison for October 2011 versus September
2011; and 3) 10 months year-to-date 2011 price comparisons
versus the same 10-month year-to-date period in 2010.
Jewellery Inflation Outlook: Uncertainty
Near Term, Higher Long Term
It would be easy to forecast inflation for the jewelry industry
if all of the commodities involved in the forecast were used
exclusively by the jewelry industry. While that may be the
case for polished diamonds, precious metals are used by a
number of other industries; further, gold is an international

currency that plays in an arena of its own.
- Industry Outlook Demand from emerging
economies such as India and China will help fuel sales of

jewelry in those nations. Thus, the longer term outlook for
jewelry demand is very positive.
Economic Outlook The latest OECD data points
to decelerating economic growth, which will likely hinder
consumer demand near term.
Financial Outlook With increased volatility in
the worlds stock markets and uncertain valuations related
to stocks, bonds, and other hard assets, investors are likely
to move to the safe haven that gold offers.
The bottom line: inflation may pause, but it is headed

higher over the longer term. Jewelry suppliers and retailers
should use periods of weakness in commodity prices to
add to their inventory. IDEX
The full analysis of the U.S. jewellery industry is available to IDEX Online
Research subscribers and IDEX Online members. Contact research@idexonline.

com for more information on how to subscribe or to become a member.
18
Fully automated online TRADING service for polished diamonds *
GUARANTEED AVAILABILITY and door-to-door delivery to buyers * Guaranteed

immediate CASH payment to sellers * AUTHENTICATION against grading
lab certicate * Incredibly LOW FIXED transaction fee
To learn more please go to www.idexonline.com
USA +1-212-382-3528 | BELGIUM +32-3-234-1157 | ISRAEL +972-3-575-7455 | INDIA +91-22-663-32187 | HONG KONG +852-284-00514
CUSTOMERSUPPORT@IDEXONLINE.COM
It takes the strength of two to make any venture successful. At Uni-Design, we partner you in
Certified
creating some of the finest jewellery by anticipating your needs, setting new trends, and above
all, constantly refining our skills. Leaving you with just one task. Delighting your customers.
INDIA Export (SEEPZ) T: 91-22-6668 1000, info@unidesign-jewel.com Domestic T: 91-22-3081 5888, info@unidesignindia.com USA New York T: 1-212-282 1111,
info@unidesignusa.com EUROPE Belgium T: 32-472-640 080, info@unidesigneurope.com
R etail
Et
Cetera
January JEWELLERY
From vermeil to rayon, diamonds to sapphires,
rings to pendants and even angels to animals,
the latest JEWELLERY designs are sure to get the
year ofF to a stunning start.
3.
1.
New Offerings From

Uni-Design
Jewelry by Uni-Design
2.
Uni-Design has created three exclusive designs. The first, a

pendant in 18-karat gold, is set with 53 diamonds weighing
1.4 carats, accentuated with 0.82 carats of emeralds. The
second, also a pendant, is as delicate as a feather, with a
contemporary channel and prong setting in platinum with
14 diamonds weighing 0.8 carats. The third is a pair of
earrings in 18-karat gold, with emeralds surrounded by 66
diamonds weighing 1.53 carats.
Corrigendum The November issue of our magazine inadvertently
carried the wrong carat weights for the diamonds set in Uni-Designs
new designs. This report amends the carat weights.
IDEX MAGAZINE INDIA RETAIL | NO 14: RETAIL ET CETERA
21
Crocodile Tears
Jewelry by Lacoste
A symbol of casual elegance since 1933, Lacoste uses its

sporting roots to offer a unique and original world that
has been reinterpreted in jewelry form. The Petit Piqu
collection is characterized by a clear orientation towards
gilt and silvered metal jewelry. The cotton petit piqu called
L.12.12 from the Lacoste polo shirt that gives its name to
this collection, can be found on the pretty cuffs decorated
with the famous crocodile.
Mens Club
Jewelry by Rochet
Rochet specializes in mens jewelry and watches made of

alternative materials. With the Ming collection, Rochet offers
an exclusive range with elegant finishes that associates steel
with ceramics. The models combine facetted incrustations
and deepest black or glossy whiteness of ceramic with the
cool, matt beauty of steel.
22
CULTURE CLUB
JEWELRY BY PACOMA
Pacoma has designed a new series of jewelry combining

cultured pearls with gold and diamonds. The Noeud, or
bow range, is made of Tahitian cultured pearls, providing
a precious and modern seal for any engagement. It is
also a symbol of positive energies, ideal for adorning and
protecting women, just like a talisman that never leaves
their side.
STRAIGHT AS AN ARROW
JEWELRY BY LILI DIAMONDS
Lili Diamonds is a leader in the field of diamond

manufacturing and widely known for its innovative special
cuts, including the trademarked Crisscut, Orchidea Cut
and Meteor Cut.
23
Violently Violet
jewelry by Bellon
The Violeta line of 18 karat white gold rings and pendants

from Bellon plays on the violet colour of amethyst.
Adding to the color factor, the pendants come with cord
necklaces in mauve rayon, making them ideal for everyday
wear. For those who prefer a different hue, the items are
also available in yellow gold with various colored stones.
Natural Beauty
Jewelry by Yvel
Yvel has opted for a natural look with this stunning

bracelet. The 18 karat yellow gold bracelet features 318
carats of natural multi-color sapphires set with 15.98 carats
of diamonds for a sophisticated color combination.
24
Heaven Sent
Jewelry by Isabelle Langlois
Born of a long line of gem cutters, Isabelle Langlois

spent her childhood among gemstones and naturally fell
in love with jewelry. Her Ange collection is a little piece
of heaven on earth. These softly colored angel pendants,
with their wings outstretched, marry grey or pink gold with
diamonds, moonstones, pearls, pink quartz and mother of
pearl.
Hooplah!
Jewelry by Andr Bnitah
The Hula Hoop collection by Andr Bnitah is made

of flexible resin with yellow gold or silver balls at each
end. The line is available in around 60 different colors;
20 in transparent resin and 40 in the opaque version. The
bracelets can be worn singly, as a pair or as a seven-band
bracelet to brighten dull winter days.
Childs Play
Jewelry by Paul & Joe
Paul & Joe are the names of the children of designer

Sophie Albou. Her new collection provides a young and
refreshing note that proclaims the brands originality. The
latest additions include owls, Maneki Neko (the famous
Japanese good-luck cat) and butterflies.
25
DESIGNER PALEtTe
To encourage young design talent, IDEX Magazine India Retail will
showcase designs from the many design schools and institutions
that are training IndiaS future jewellery designers.
The Bloom Collection

Design BY Natasha Chandiramani
Budding designer Natasha Chandiramani, a student at

the IGI jewellery design graduate course, was inspired by
the flowers she encounters in her daily life and captured
their essence in her jewellery designs. The result is the
Bloom Collection.
Retro Red. This classical pendant is a perfect blend of a

traditional Indian motif and a blooming flower, giving it
colour and life.
Heaven on Earth. This necklace captures with diamonds and

enamel, the moment when a butterfly sips nectar from a
flower.
Dancing to Your Tune. This bangle has a rotating flower

embedded with diamonds and emeralds. The free
movement of the flower allows the diamonds and emeralds
to flash with every move by the wearer.
26
Fire and Ice. These dangling earrings are inspired by floral

motifs and the patterns of snowflakes. The result is an
unusual combination of the vibrant heat of a flower and
the cold beauty of a snowflake.
About the IDEX Online Diamond Retail Benchmark

For the first time ever, Indian diamond jewellery retailers
have a retail benchmark for diamond prices, enabling
them to assure their consumers about the retail prices
being charged for diamonds. The endorsement of the All
India Gems & Jewellery Trade Federation (GJF) makes
the benchmark prices accepted countrywide, giving the
consumer further confidence to buy diamonds.
The Diamond Retail Benchmark (DRB) is derived from upto-date market data using an objective and fully transparent
system. Standard retail mark-ups across the country have
been factored in to ensure that the norms of every geographic
market in the country are accounted for.
The diamond category is one of the few retail sectors that
up to now has not had a credible retail price benchmark
for consumers. For consumers, many of them firsttime diamond buyers, the purchase of a diamond may
sometimes prove to be a confusing experience. As a
luxury product that is bought to celebrate major life

events and which will accompany them everywhere,
confidence is essential. Consumers should be able to
buy a diamond with the confidence of knowing they
paid a fair price.
The DRB presents a retail price benchmark for a diamond
based on each of the 4Cs Cut, Carat, Colour and Clarity.
The DRB should be used as background information
only. Actual prices are determined by the sellers.
Your input will only make the system better. We urge
you to contact us at anytime with your comments,
suggestions and questions.
IDEX Online
Call us at (022) 6633 2187
Fax us at (022) 6633 2186
Email us at mumbai@idexonline.com
AmBSo>g AmZcmBZ hram [aQ>oc ~|M_mH$-EH$ OmZH$mar

nhcr ~ma, ^maVr` hram Am^yfU IwXam {dHo$VmAm| Zo hram _y`m| H$m
IwXam ~|M_mH$ V` {H$`m h {Oggo do AnZo JmhH$m| H$mo, hram Ho$ dgyc
{H$E Om aho IwXam _y`m| H$m âmogm {Xcm gH|$Jo& ApIc ^maVr`
aZ Ed Am^yfU `mnma gK (OrOoE\$) mam g_WZ {XE OmZo go
~|M_mH$ _y`m| H$mo Xoeâ _| drH$ma {H$`m J`m h {Oggo JmhH$ H$m
hram IarXZo Ho$ {V {ddmg ~T>m h&
hram [aQ>oc ~|M_mH$ (S>rAma~r) dmV{dH$ Ama nyUV: nmaXeu Umcr
Ho$ O[aE VmOm ~mOma OmZH$mar H$o AmYma na V`ma {H$`m J`m h& nyao
Xoe _| _mZH$ IwXam _y` AVa H$mo `mZ _| aIm J`m h Vm{H$ Xoe
Ho$ {H$gr ^r ^mJ Ho$ ~mOma Ho$ _mZXS>m| H$mo em{_c {H$`m Om gHo$&
Hw$N> IwXam jom| go _| hram EH$ Eogm CmoJ h {Og_| A^r VH$ JmhH$m|
Ho$ {cE H$moB {ddgZr` IwXam _y` ~|M_mH$ Zht Wm& Ohm VH$
JmhH$m|, {OZ_| H$B nhcr ~ma hram IarXZo dmco h, H$m g~Y h hram
IarXZm CZHo$ {cE H$B ~ma Xw{dYm H$s ~mV hmo gH$Vr h& OrdZ Ho$
_w` Adgam| Ho$ g_` IarXo OmZo dmco Eogo cOar gm_mZ Ho$ {cE
IDEX MAGAZINE INDIA RETAIL| NO 14: DRB
{ddmg ~hV O$ar h {Ogo H$ht ^r co Om`m Om gH$Vm h& O~

JmhH$ hram IarX| Vmo Cgo `h {ddmg hmoZm Mm{hE {H$ CgZo ghr Xm_
na hram IarXm h&
S>rAma~r, H$Q>, H$aoQ>, H$ca Ama bo[aQ>r H$s Mma {deofeVmAm| Ho$
AmYma na hram H$m IwXam _y` ~|M_mH$ XoVm h& S>rAma~r H$m BVo_mc
Ho$dc nyd OmZH$mar Ho$ $n _| {H$`m OmZm Mm{hE& dmV{dH$ _y`,
{dHo$VmAm| mam V` {H$E OmVo h&
Amngo go m Cma go hr `h {gQ>_ ~ohma hmo nmEJm& Amngo AZwamoY
h {H$ Amn {H$gr ^r g_` AnZo {dMma, gwPmd Ama Z {ZZ{c{IV
Z~a/nVo na S>mc gH$Vo h:
AmBSo>g AmZcmBZ
na gnH$ H$a|& (022) 6633 2187
\$g na gnH$ H$a|& (022) 6633 2186
mumbai@idexonline.com na B_oc H$a|
27
JANUARY 1st 2012
THE DIAMOND RETAIL BENCHMARK - INDIA

Diamond Retail Benchmark for Polished Diamonds
Powered by www.idexonline.com

IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
E 188804 180540 176408 147484 139219 114427 106163 84920 67967 55200 46724 E 227741 207558 199505 187427 171322 142663 130267 93078 88946 67967 50962
F 176408 172276 168144 143351 135087 101925 97687 76444 67967 55200 46724 F 223715 203531 195479 179375 167296 138531 122002 88946 84814 63676 50962
G 159880 155748 151616 135087 130955 97687 93396 72205 67967 55200 46724 G 207558 199505 191453 175349 155059 134399 113738 84814 80682 63676 50962
H 155748 151616 147484 130955 126823 93396 89158 67967 63676 50962 42486 H 187427 179375 175349 171322 150927 130267 101342 80682 76444 59438 46724
I
151616 147484 135087 122691 118559 89158 80682 63676 59438 50962 42486
I 171322 167296 163270 150927 122002 113738 97210 76444 72205 59438 46724
J 143351 130955 114427 93396 84920 72205 67967 59438 55200 46724 38195 J 167296 155059 126134 105474 97210 88946 80682 72205 63676 55200 42486
K 106163 97687 84920 76444 67967 63676 59438 55200 50962 42486 33957 K 126134 113738 101342 93078 84814 76444 72205 63676 59438 50962 38195
L 84920 80682 76444 72205 63676 59438 55200 50962 42486 33957 29719 L 101342 93078 88946 84814 80682 72205 63676 59438 50962 42486 33957
M 80682 76444 72205 67967 59438 55200 50962 46724 38195 29719 21243 M 93078 88946 84814 80682 76444 63676 59438 55200 42486 33957 25481
Round 0.23-0.29
Round 0.18-0.22
D 273883 221543 213491 168144 159880 147484 118559 93396 76444 63676 50962 D 286968 243687 227741 195479 183401 155059 142663 105474 93078 72205 59438
N 72205 67967 63676 59438 55200 50962 46724 42486 33957 29719 21243 N 84814 80682 76444 72205 63676 55200 50962 46724 42486 33957 25481
SI2
I1
I3
SI2
I1
I3
SI3
I2
SI3
I2
E 275419 244640 217252 193625 177838 149656 133551 129525 117341 84284 63623 E 305986 279869 257249 242151 199823 168462 148808 144782 124651 84284 71623
F 256189 225145 197598 181865 169786 141603 129525 125499 117341 71888 55200 F 287392 257249 234469 211372 188169 164542 144782 140756 124651 84019 67491
G 221172 201518 193625 177838 157708 137577 125499 121473 109076 71888 55200 G 264771 238336 226788 203690 184195 160621 136730 132703 112573 79887 63359
H 193625 185785 177838 173812 153682 133551 117341 113208 96680 71888 55200 H 234469 226788 207558 192089 180275 156701 132703 120625 108547 79887 63359
I 173812 169786 165760 153682 133551 129525 113208 104944 92548 67756 50962 I 222920 192089 184195 168462 160621 152728 128677 116599 100494 75755 63359
J 169786 157708 141603 129525 121473 113208 109076 96680 80152 59438 46724 J 184195 176355 164542 152728 140756 128677 120625 108547 92283 63359 50962
K 141603 137577 125499 117341 113208 100812 92548 88416 76020 55200 42486 K 172435 156701 152728 140756 132703 120625 104520 96415 79887 59226 46724
L 125499 117341 113208 109076 104944 96680 80152 71888 63623 50962 38195 L 156701 148808 144782 136730 124651 112573 96415 79887 67491 50962 42486
M 109076 104944 100812 96680 92548 88416 71888 59438 50962 38195 29719 M 148808 132703 124651 120625 112573 100494 79887 63359 55094 42486 33957
Round 0.40-0.44
Round 0.30-0.39
D 324792 271552 232986 209412 189705 157708 145629 133551 117341 92548 67756 D 361875 309747 279869 264771 222920 180275 164542 160621 136730 104520 75755
N 104944 100812 96680 92548 88416 63623 55200 50962 42486 33957 25481 N 124651 120625 116599 112573 108547 92283 75755 59226 55094 42486 33957
SI2
I1
I3
SI2
I1
I3
SI3
I2
SI3
I2
E 392601 341109 285326 248031 229172 179428 175560 171640 144093 92018 79728 E 501783 437736 412572 369239 321984 270492 222126 210948 173388 154211 103408
F 348472 315151 266731 229172 225357 171640 155907 148066 128306 84019 71464 F 434133 401818 380151 351068 307257 248190 210948 203531 169574 127035 95356
G 300212 277909 251792 217835 214074 167720 144093 136253 116228 79887 67332 G 419777 372894 351068 321984 274148 225887 192248 188486 161893 115221 87303
H 281617 255553 229172 194791 183242 163800 140173 128306 116228 79887 63359 H 380151 351068 321984 281511 248190 210948 188486 184672 154211 111301 83277
I 277909 217835 202525 179428 171640 155907 136253 124280 108123 75755 63359 I 325640 303549 274148 248190 229595 184672 173388 169574 146477 99382 79251
J 210206 202525 190976 171640 148066 140173 132333 120254 96044 67332 54935 J 259368 244481 237012 214709 192248 173388 165760 161893 134875 95356 75225
K 183242 175560 163800 155907 144093 136253 128306 116228 79887 63200 50803 K 222126 207240 199770 169574 161893 158026 150344 146477 130955 91330 67067
L 159827 155907 151986 148066 140173 132333 104097 100071 75596 54935 46671 L 207240 184672 169574 161893 154211 146477 138796 134875 123115 71199 54671
M 155907 144093 136253 132333 120254 116228 100071 83860 67332 54935 42486 M 180911 169574 158026 154211 150344 138796 127035 123115 119142 71199 54671
Round 0.50-0.69
Round 0.45-0.49
D 490976 388945 359491 318859 244217 206339 202525 194791 163800 132333 92018 D 669344 515927 448490 398216 358379 296238 244481 237012 188486 180911 123115
N 140173 136253 128306 124280 116228 100071 96044 79728 67332 54935 42486 N 177150 165760 154211 146477 142663 130955 123115 103408 87303 67067 54671
SI2
I1
I3
SI2
I1
I3
SI3
I2
SI3
I2
E 677661 536111 498022 470157 435193 371569 321402 281564 230337 182182 117976 E 744728 659279 552745 535475 483612 396786 347466 301112 243316 182182 121049
F 549991 511901 459721 449284 396415 364471 296132 270651 222973 182182 117976 F 645558 594066 507875 493996 452463 389793 319071 290358 232403 182182 121049
G 491082 459721 442239 392866 360868 325004 281564 267049 215610 167243 114109 G 549302 514762 473229 445523 400282 343916 290358 275949 217729 169680 117235
H 480646 428147 392866 360868 332209 299735 256083 241356 204485 159827 106322 H 493996 483612 438583 407275 372205 322620 272400 254229 210365 159827 106322
I 382218 360868 353770 321402 303390 259738 230337 208246 185891 121790 90588 I 424651 400282 389793 351015 333268 279551 243316 236005 199346 124810 90588
J 292477 285220 281564 252375 248720 226629 211955 193360 167243 106322 82695 J 336818 315469 311919 275949 261487 239661 225092 221384 188275 109500 86191
K 241356 237701 222973 200777 193360 182182 171005 156013 144729 94508 70616 K 297510 265089 257831 225092 210365 184619 177150 173441 147378 97952 70616
L 222973 204485 200777 185891 171005 163535 152251 144729 123115 90588 66590 L 261487 221384 217729 203002 180858 169680 158555 151086 128571 90588 66590
M 215610 200777 185891 167243 163535 159827 133339 129525 121790 78668 66590 M 250574 210365 206710 199346 177150 165972 151086 147378 124810 82271 66590
Round 0.80-0.89
Round 0.70-0.79
D 859102 612184 556877 515345 473653 407063 346565 317799 256083 182182 123115 D 961556 731061 628394 569962 525145 431644 372205 333268 272400 191983 123115
N 189599 185891 174713 163535 159827 156013 129525 114109 94508 70616 58538 N 221384 199346 191983 180858 173441 162264 143616 124810 97952 70616 66325
Disclaimer: This Diamond Retail Benchmark India (DRB) is an informational and educational tool for diamond consumers. Organized around the the 4Cs - Carat, Cut, Color & Clarity - the DRB India is based on
market data from the diamond trading centers Worldwide and market research assessment of customary retail mark-ups. Endorsed by the All India Gem & Jewelry Trade Federation (GJF), as well as the World Federation
of Diamond Bourses (WFDB) The DRB should be used as background information only. Actual diamond sale prices may be differ compared to this benchmark, depending on demand and supply at time of transaction;
source of the diamond certificate; fluorescence; cut specifications; payment and other terms of business; foreign exchange rates; special stones and other business considerations. This is published jointly by The All
This and
price
list reflects
suggested
prices
for polished
diamonds.
may,house
andheadquartered
should, sell
at Aviv
discounts
compared
to this
list.toFor
India Gems
Jewellery
Trade Federation
(GJF), a retail
trade body
headquartered
in Mumbai,
and IDEX, aDiamonds
diamond research
in Tel
Israel, with
a view of unbiased
service
the more
consumer
education on prices and discounts please visit www.diamondSRP.com. Copyright 2009 by WFDB and IDEX Online S.A. All rights reserved.
JANUARY 1st 2012
D R A F T J A N U A R Y 1st 2 0 10
29
JANUARY 1st 2012

DIAMOND RETAIL BENCHMARK FOR POLISHED DIAMONDS

IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
E 972840 919229 797968 634857 566413 511372 435405 373000 316899 209094 127724 E 1391452 1247412 1017075 884583 764276 595338 506604 451721 368921 242945 141285
F 925904 784460 703037 573247 552692 483824 407699 352075 309747 187056 121049 F 1221189 997315 851262 817887 683436 574942 479162 444834 355041 228589 141285
G 825039 696256 593854 518311 490711 442345 379940 330990 274148 187056 120201 G 944392 857937 804484 683436 629295 540826 444834 424174 348154 214233 126399
H 600688 580134 545806 497598 463111 400812 366007 323945 238124 172329 112679 H 784407 750820 676708 615733 568108 499770 437948 389687 327335 207081 118930
I 566413 497598 456224 435405 414638 352075 323945 281352 216352 135193 97369 I 642856 629295 568108 527158 513491 451721 396574 375807 313402 192513 118930
J 490711 442345 414638 373000 345029 309747 288451 266943 194420 120201 89687 J
527158 520324 499770 465495 444834 396574 368921 327335 264241 170687 111513
K 302648 295550 288451 281352 274148 259791 238124 223609 157496 112679 81900 K 472329 458608 431061 403514 389687 341215 306463 285431 235794 126399 111513
L 266943 259791 252587 245382 238124 230867 216352 201783 135193 97369 81900 L 389687 375807 355041 348154 320342 306463 278386 264241 228589 126399 103991
Round 1.00-1.24
Round 0.90-0.99
D 1277714 1086049 878915 723432 600688 538972 449284 400812 316899 216352 135193 D 1989650 1411053 1286772 1036835 877961 642856 540826 492883 375807 271340 155960
M 252587 245382 238124 230867 216352 201783 164965 150079 127724 97369 81900 M 341215 334275 306463 292424 271340 250044 228589 221437 214233 126399 96468
N 245382 201783 194420 187056 179693 164965 157496 142610 112679 89687 74007 N 334275 320342 285431 278386 221437 214233 207081 177997 148649 118930 96468
IF
SI2
I1
I3
SI2
I1
I3
VVS1 VVS2 VS1 VS2 SI1
SI3
I2
SI3
I2
D 2095495 1528340 1314002 1072434 908263 703142 575737 521649 419459 274730 155960 D 2447146 1802117 1616121 1371745 1125727 858519 674483 588557 474924 298199 166290
F 1248789 1085519 908263 855500 723114 609429 514868 467296 378350 232880 141285 F 1500528 1326504 1184159 1067242 923838 779798 608475 528589 420943 256878 141285
G 960868 895072 855500 723114 656365 582465 480911 439961 371464 218788 126399 G 1151685 1080274 995620 930407 825728 714055 555288 508511 407434 218788 126399
H 802683 769627 683118 642962 589192 535157 460462 433127 371464 218788 118930 H 956471 891205 838812 786367 733815 661292 528589 468197 387038 218788 123221
I
683118 642962 582465 548719 514868 460462 412625 398905 350803 197439 118930 I
799505 773229 746953 694296 628288 568638 468197 454741 380257 197439 118930
555447 521649 514868 487692 453628 398905 371464 357690 316316 170687 111513 J
667914 641532 615097 575260 535263 474924 427723 387038 318806 170687 115963
480911 460462 446795 412625 405739 350803 316316 288610 239873 126399 111513 K 541938 521914 515239 488433 454741 400653 346141 305085 243051 126399 115963
L 419459 392071 364577 350803 343916 316316 302437 281670 228589 126399 110189 L 454741 427723 414215 380257 373477 332527 305085 284478 228589 126399 110189
Round 1.50-1.99
Round 1.25-1.49
E 1489456 1326981 1065865 921401 815927 629560 535157 487692 405739 260851 141285 E 1744480 1564787 1339430 1190622 1047694 799505 641532 561963 454741 284478 159191
M 385184 371464 316316 309376 288610 267791 253858 239873 225834 126399 110189 M 420943 387038 352975 332527 291365 284478 263817 243051 225834 126399 110189
N 364577 350803 309376 302437 225834 218788 211690 204591 175931 124969 102719 N 380257 373477 346141 318806 270704 256878 249991 222285 194473 124969 102719
IF
SI2
I1
I3
IF
SI2
I1
I3
SI3
I2
SI3
I2
E 2655498 2440153 2091469 1818487 1365812 1109464 819159 643386 512325 312926 162529 E 4623799 4227967 3693445 2969271 2426962 1585395 1204396 711619 575843 340526 166237
F 2218292 2066094 1805772 1595725 1333815 1006586 780169 623785 439802 272294 141709 F 4215412 3561271 2918892 2553202 2180573 1471233 1115185 692283 556348 314144 159403
G 1773987 1583011 1391399 1256947 1167207 896874 747695 617269 426558 218788 126399 G 3202416 2654121 2540594 2167912 1813507 1280733 929824 679357 523821 287603 152516
H 1391399 1276177 1205720 1109464 961451 858043 715168 604184 426558 218788 123221 H 2351154 2136286 1978154 1743844 1439501 1064117 872187 672894 517305 280982 152516
I 1103001 1051615 1006586 877432 819159 721684 656471 551792 426558 197439 118930 I 1743844 1636092 1515626 1401411 1159790 917057 788751 621190 432491 254229 145682
J
877432 812643 773706 728147 662987 604184 551792 466184 333109 170687 115963 J 1388697 1287090 1217163 1115185 1019406 775931 679357 530337 425922 227370 145682
K 728147 721684 715168 643386 597668 545170 472805 419936 279074 127724 115963 K 1070527 1044993 1032173 942644 872187 698746 582306 471693 393183 173071 131909
L
591100 558308 532032 499187 466184 413314 386667 346565 251845 126399 110189 L
737365 730955 724492 718029 666431 510789 439007 399752 333957 173071 131909
M 538601 525463 485996 459615 413314 359968 312926 285855 231397 126399 110189 M 640579 634116 627653 614727 556348 439007 386614 320766 267632 173071 131909
Round 3.00-3.99
Round 2.00-2.99
D 3887388 2750430 2357776 2142219 1538300 1173617 877432 656471 532032 326381 169468 D 7356535 5056979 4372537 3580183 2855851 1826221 1210753 718029 595285 353717 179904
N 479374 466184 452993 439802 373371 353240 292636 238230 217676 124969 102719 N 530337 504273 465177 452092 373424 360286 314144 287603 234098 166237 124969
IF
SI2
I1
I3
IF
SI2
I1
I3
VVS1 VVS2 VS1 VS2
SI1
SI3
I2
SI3
I2
E 7966441 5640397 3961077 3546756 2955815 1669997 1302824 755906 602065 340526 166237 E 8289855 6420777 5158056 4300649 3178683 2128869 1473193 776249 642327 352869 169097
F 6322402 3885799 3345661 3125655 2590815 1594083 1271092 730319 589245 316740 159403 F 6322402 5014175 4989117 3987511 3071990 2122618
769891 629507 326805 169097
G 4819967 3125655 2836303 2622282 2080450 1397862 1099822 723909 544163 297033 152516 G 4819967 3210097 3203793 3166128 2820781 19462631460585 763534 623150 307257 155695
H 3678612 2357723 2256911 2061538 1745857 1302824 941002 691912 524827 290464 152516 H 3678612 2789367 2644797 2550501 2280008 1492158 1334132 693395 559102 300741 155695
I 2804836 1688962 1650978 1600387 1359826 1061733 883683 621348 466607 277326 150503 I 2804836 2368106 2273704 2059631 1889527 1340490 1080910 623150 501359 287709 155695
J 2143491 1461167 1290110 1201376 1112536 877273 787903 531237 427670 257513 145682 J 2143491 1895831 1858006 1504819 1460585 1125250 928712 539872 443457 261540 145682
K 1347164 1233055 1125197 1017340 934645 749549 666272 473070 393183 191029 143722 K 1637364 1428958 1410046 1201270 1080910 877961 769891 482076 404732 208882 143722
L 1118893 1010983 864506 794260 730319 595655 492512 408122 336394 191029 143722 L 1251915 1074553 941426 915998 789016 744410 603920 430531 346353 202313 143722
M 896397 768726 659862 614885 576372 518364 427670 369027 297033 191029 136888 M 954087 814444 738053 699805 655094 584742 475666 391753 313773 202313 136888
Round 5.00-5.99
Round 4.00-4.99
D 9066634 7235062 5402431 4030104 3081632 1973175 1353468 775083 646989 375543 197757 D 10890312 8052314 5958196 4407077 3254014 2135173 1593182 833515 680628 385290 202313
N 672682 608475 544163 466607 388628 369027 342910 323256 264135 184301 136888 N 731696 693395 629507 533462 436994 404732 378827 339837 281140 195691 136888
India Gems and Jewellery Trade Federation (GJF), a trade body headquartered in Mumbai, and IDEX, a diamond research house headquartered in Tel Aviv Israel, with a view of unbiased service to the consumer
30
DRB_14.indd 29
JANUARY 1st 2012
03-Jan-12 2:31:42 PM
JANUARY 1st 2012


IF
VVS1 VVS2 VS1
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2 VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 168144 151616 147484 126823 110295 97687 76444 59438 50962 42486 33957 D 179375 175349 167296 142663 134399 105474 97210 72205 67967 50962 42486
F 106163 89158 84920 80682 76444 63676 59438 46724 46724 38195 29719 F 146795 142663 138531 134399 122002 97210 88946 59438 59438 42486 33957
G 93396 84920 80682 76444 72205 59438 50962 42486 42486 33957 29719 G 142663 130267 126134 117870 113738 93078 80682 55200 55200 42486 33957
H 89158 80682 76444 72205 63676 50962 46724 38195 38195 29719 25481 H 130267 122002 117870 109606 105474 88946 72205 50962 50962 42486 29719
I 84920 76444 72205 67967 59438 46724 42486 33957 33957 29719 25481 I 117870 113738 109606 97210 76444 72205 67967 46724 46724 38195 29719
J 80682 72205 63676 50962 46724 38195 33957 29719 29719 25481 21243 J 109606 97210 84814 67967 63676 59438 55200 42486 42486 33957 29719
K 59438 50962 46724 42486 38195 33957 29719 25481 25481 25481 21243 K 84814 76444 67967 63676 55200 50962 46724 38195 38195 33957 25481
L 46724 42486 38195 33957 29719 25481 21243 17005 17005 17005 17005 L 67967 63676 59438 50962 46724 42486 38195 33957 33957 29719 21243
Fancy 0.23-0.29
Fancy 0.18-0.22
E 126823 122691 114427 101925 93396 67967 63676 50962 46724 38195 29719 E 171322 159191 155059 138531 130267 101342 93078 63676 63676 46724 33957
M 42486 38195 33957 29719 25481 21243 17005 12714 12714 12714 12714 M 59438 55200 50962 46724 42486 38195 33957 29719 29719 21243 17005
N 38195 33957 29719 25481 21243 17005 12714 8476 8476 8476 8476 N 55200 50962 46724 42486 38195 33957 29719 25481 25481 21243 12714
IF
VVS1 VVS2 VS1
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2 VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 236906 209412 193625 177838 153682 133551 109076 96680 84284 67756 46724 D 287392238336207558203690 176355 140756 120625 104520 100494 71623 59226
F 177838 169786 161734 149656 137577 113208 96680 84284 76020 55200 38195 F 207558 184195 164542 160621 148808 120625 108547 96415 84019 67491 50962
G 149656 145629 137577 133551 121473 109076 92548 80152 71888 46724 33957 G 196009168462148808 144782 140756 116599 100494 84019 79887 59226 42486
H 145629 133551 125499 121473 117341 104944 88416 71888 63623 46724 33957 H 172435 152728 136730 128677 120625 108547 96415 79887 71623 55094 42486
I 133551 117341 113208 109076 104944 88416 80152 63623 59438 42486 33957 I 168462 136730 124651 120625 112573 104520 88151 71623 67491 55094 42486
J 113208 100812 88416 80152 71888 67756 63623 59438 50962 38195 29719 J 124651 104520 100494 96415 92283 88151 79887 67491 59226 46724 33957
K 88416 80152 76020 71888 67756 55200 50962 46724 38195 33957 25481 K 108547100494 96415 92283 88151 84019 71623 59226 50962 38195 29719
L 71888 67756 63623 59438 55200 46724 42486 38195 38195 29719 25481 L 96415 92283 88151 79887 71623 67491 63359 50962 42486 33957 25481
Fancy 0.40-0.44
Fancy 0.30-0.39
E 221172 189705 173812 161734 141603 121473 100812 88416 84284 59438 42486 E 222920 211372 176355 168462 160621 128677 116599 100494 92283 67491 55094
M 63623 59438 55200 50962 46724 42486 38195 33957 29719 25481 17005 M 92283 84019 79887 75755 67491 63359 50962 38195 33957 25481 21243
N 59438 55200 50962 46724 42486 38195 33957 29719 29719 25481 12714 N 79887 75755 71623 67491 63359 55094 46724 33957 33957 25481 21243
IF
VVS1 VVS2 VS1
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2 VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 318859 248031 217835206339183242163800 136253 128306 112202 92018 67332 D 419777299894259368233304222126 180911 169574 165760 154211 115221 75225
F 225357 202525 179428 175560 167720 124280 112202 100071 92018 67491 54935 F 266784229595210948 199770 188486 169574 154211 142663 130955 87303 54935
G 214074 179428 167720 155907 148066 120254 108123 87992 79887 59226 50803 G 244481207240192248 184672 173388 161893 150344 138796 123115 87303 54671
H 187109 175560 148066144093128306 112202 100071 83860 75596 59068 46671 H 214709 196009184672 173388 169574 158026 142663 130955 119142 83277 54671
I 183242163800128306 124280 116228 108123 96044 79728 67491 55094 46671 I 192248 169574 158026 154211 150344 138796 127035 115221 99382 75225 50539
J 136253 128306 112202 108123 104097 100071 87992 75596 63200 46724 38195 J 161893 146477 142663 138796 134875 123115 115221 103408 91330 58803 46406
K 120254 112202 100071 96044 92018 87992 83860 67332 63200 42486 33957 K 134875 130955 115221 111301 103408 99382 87303 83277 75225 50539 38142
L 104097 100071 92018 83860 79728 75596 67332 63200 46671 38195 29719 L 119142 107381 99382 87303 83277 79251 71199 67067 50539 38195 33957
Fancy 0.50-0.69
Fancy 0.45-0.49
E 240455 217835 190976 187109 175560 148066128306 116228 96044 75596 63200 E 318276259368 237012 207240 199770 173388 158026 146477 134875 91330 63200
M 100071 92018 83860 79728 71464 67332 63200 54935 46671 38195 29719 M 115221 103408 87303 83277 75225 71199 67067 62935 46671 38195 29719
N 92018 83860 79728 75596 67332 59068 54935 50803 42486 38195 29719 N 103408 87303 83277 79251 71199 62935 58803 54671 42486 38195 29719
IF
VVS1 VVS2 VS1
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2 VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 539607 410612 332209 317799 306992248720 219318 215610 204485 144729 98481 D 600953459350 410771 372205 326170 268744236005228748225092 158555 101819
F 335758332209299735 296132 270651 226629193360 185891 182182 133339 82695 F 424651368656354564 329719 283154 261487 199346195638 191983 136094 86191
G 321402288822274307263394245064222973 185891 178421 159827 114109 78668 G 340367 311919 301112 290358272400 243316 195638180858180858 121049 78668
H 292477256083248720 237701 233992189599 178421 167243 156013 102401 66590 H 297510293960261487 257831 243316 199346 188275180858 173441 113367 74377
I 241356 237701 208246204485200777 174713 144729 129525 125658 90588 58538 I 265089254229232403 221384 217729 191983 177150 154794 147378 97952 66325
J 171005 167243 163535 159827 156013 152251 137153 106322 94508 62564 46406 J 214021 206710 195638 177150 173441 165972 143616 113367 97952 66325 50221
K 148490 144729 140968 137153 133339 129525 117976 98481 78668 54459 38142 K 162264 158555 151086 147378 143616 136094 124810 105686 78668 58273 42009
L 137153 117976 110242 106322 98481 94508 90588 86668 66590 50327 37930 L 143616 124810 117235 113367 109500 101819 97952 94031 74377 54247 37930
Fancy 0.80-0.89
Fancy 0.70-0.79
E 385767346565 314197 310648303390233992200777 197068 185891 140968 90588 E 445523400282368656333268 304715 265089 214021 210365 199346 151086 94031
M 129525 114109 102401 94508 86668 78668 74642 70616 62564 46195 33798 M 136094 121049 113367 105686 90111 82271 78298 74377 66325 46195 37877
N 114109 102401 98481 90588 82695 74642 66590 58538 46195 38195 29719 N 121049 113367 105686 94031 86191 78298 70404 62299 54247 42009 33745
JANUARY 1st 2012
31
JANUARY 1st 2012


IF
VVS1 VVS2 VS1
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2 VS1
VS2
SI1
SI2
SI3
I1
I2
I3
E 675860 470051 456224 421578 359067330990 259791 245382 230867 164965 97369 E 891258 757548 669927 561274 486049 382747 320342278386 235794 164965 111513
F 532085 393872 366007359067330990323945 252587 238124 223609 142610 89687 F 784407683436 561274 533992 472329 375807 313402 271340 223609148649 96468
G 386932 352075 337983330990316899 295550245382230867 216352 142610 89687 G 588557 554441 513491 472329 437948348154 299470 264241 216352 148649 89687
H 330990295550 288451 281352 274148 259791 238124 223609209094 127724 81900 H 513491 458608424174 389687 355041 320342 278386 235794 214233 141285 81900
I 309747 274148 266943 259791 245382 216352 209094 187056 187056 120201 74007 I 431061 368921 361981 341215 313402 271340 250044 221437 192513 126399 81211
J 223609209094 201783 194420 187056 179693 172329 150079 150079 105050 66113 J 348154 313402 306463 292424 271340 235794228589 207081 170687 105050 81211
K 194420 187056 179693 172329 164965 157496 150079 142610 127724 81900 66113 K 278386 271340 264241 235794 214233 199823 185255 177997 155960 103991 73477
L 172329 157496 150079 142610 135193 127724 120201 112679 105050 74007 50062 L 221437 214233 207081 199823 192513 177997 163323 155960 148649 103991 73477
Fancy 1.00-1.24
Fancy 0.90-0.99)
D 716651 538972483824435405373000 337983 274148 259791 245382 172329 105050 D 1214620 937771 750820 656418 506604 403514 334275306463 257143 177997 118930
M 164965 150079 135193 127724 112679 105050 97369 89687 81900 66113 50062 M 170687 163323 155960 148649 141285 133816 118930 111513 111513 88893 65637
N 157496 120201 112679 97369 89687 81900 74007 66113 66113 42009 33745 N 163323 155960 148649 141285 133816 118930 111513 88893 81211 73477 65637
IF
VVS1 VVS2 VS1
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2 VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 12944541000282 769627 716492 535157 453628 385184 343916 309376 211690 124969 D 1731660 1177643 897721 812643 720624 588557 481705 400653 325640 211690 137736
F 835740 716492 569009 548719 521649 426346 364577 330090 267791 168727 96468 F 1041231 956471 858519 714055 595179 548613 461469 373477 284478 168727 96468
G 602648 595920 562228 514868 460462 405739 357690 323203 239873 161469 89687 G 812643 746953 654723 595179 555288 501836 427723 366643 284478 161469 89687
H 535157 494472 433127 412625 398905 337029 323203 246918 225834 154211 81900 H 727246 608475 555288 515239 495108 434504 380257 325640 243051 159191 86562
I 439961 398905 392071 357690 337029 316316 274730 239873 197439 126399 81211 I 535263 495108 488433 454741 414215 393819 325640 291365 201465 130531 81211
J 371464 330090 316316 302437 281670 274730 267791 232880 170687 110189 81211 J 387038 380257 373477 366643 346141 325640 284478 263817 173388 115963 81211
K 295497 274730 267791 253858 246918 218788 211690 197439 168727 110189 73477 K 346141 311919 298199 291365 284478 277591 256878 215345 168727 110189 79092
L 253858 232880 218788 211690 204591 197439 175931 168727 154211 110189 73477 L 298199 249991 222285 215345 208405 201465 194473 180434 154211 110189 79092
Fancy 1.50-1.99
Fancy 1.25-1.49
E 1118258 875260 683118 575737 528430 446795 371464 337029 274730 190288 117605 E 11906221060726884636 799505 667914 568638 468197 380257 291365 190288 117605
M 232880 211690 190288 175931 161469 154211 124969 117605 117605 95303 72735 M 243051 236164 215345 194473 180434 173388 159191 152092 137736 101342 79092
N 204591 190288 175931 168727 139643 132280 117605 95303 81211 80311 65637 N 215345 208405 201465 187480 152092 144888 137736 130531 115963 101342 71676
IF
VVS1 VVS2 VS1
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2 VS1
VS2
SI1
SI2
SI3
I1
I2
I3
D 2503511 16530441416986 1167207 1096591 793201 577962 426558 339837 211690 141709 D 4215412 2742431 2654121 2136286 17248261248948808034 536853 439007 254229 141709
F 1512766 1199310 1032332 916263 838601 702136 551792 393342 292636 168727 96468 F 25216292237469
16044131547305 981051 705156 510789 366855 207081 97263
G 1147977 1025922 903337 799664 734663 649955 518894 386667 285855 161469 89687 G 2136286 1788185 16995041363322 1274376 859367 653558 484725 340526 179904 97263
H 929189 741179 708652 689104 643386 564877 452993 379993 285855 159191 86562 H 1483894 1471233 1369679 1115185 955464 775931 621190 406268 320766 159403 90217
I
656471 617269 604184 538601 492565 485996 439802 346565 224510 155589 84814 I
512325 472805 426558 419936 400017 373371 346565 292636 217676 141709 81211 J 846547 647095 640579 634116 608211 504273 452092 360286 254229 145682 83171
885007 878597 872187 859367 769521 672894 536853 386614 274307 155589 90217
K 406639 400017 393342 386667 379993 353240 326381 265460 203955 134716 79092 K 556348 543369 530337 523821 478209 406268 347095 287603 207081 134716 79092
L 353240 339837 312926 292636 279074 258679 251845 217676 162529 113579 79092 L 386614 380046 373424 366855 347095 307522 254229 234098 166237 124969 79092
Fancy 3.00-3.99
Fancy 2.00-2.99
E 2085112 14999981224950 1122284 890411 734663 558308 419936 312926 190288 117605 E 383812124080502148947 1959136 1648806 1172558 724492 523821 425922 240826 118082
M 319654 312926 285855 265460 251845 190182 183242 176355 137736 106481 79092 M 340526 327335 314144 307522 294278 254229 220590 179904 152516 106481 79092
N 292636 279074 258679 238230 197068 183242 162529 141709 127724 101342 71676 N 294278 280982 267632 247554 200300 193519 179904 159403 138796 101342 71676
IF
VVS1 VVS2 VS1
D 4537979 3816719
VS2
SI1
SI2
SI3
I1
I2
I3
IF
VVS1 VVS2
VS1
VS2
SI1
SI2
SI3
I1
I2
I3
30941872634890 1499151 1049072 589245 498975 290464 150503 D 6939618 5770663 4601178 38433123329292 2122618 1580574 827158 674271 385290 202313
F 2704129 2401852226321522506072168707 1309128 800670 524827 434133 224457 102560 F 448224936803603504905 3122211 2669960 1612147 1023856 539872 443457 228695 115116
G 215609920488771733196 1726892 1682605 1245717 749549 505438 395144 204432 97263 G 3341794 2575664 253789224435431870614 1422654 973105 507769 417658 208882 108282
H 1600387 15940831587779 1581422 13788441093465 730319 434133 349426 191029 95674 H 2519033 2273704 20848472028163 1725674 1270880 884265 449920 359332 195691 101448
I 1049072 1042715 1036358 1030001 1004625 870916 640579 414638 316740 164065 90217 I 1795018 1586878 1378420 1372063 1340490 1144269 795373 430531 320342 182394 101448
J 928235 896397 877273 832614 813437 704679 505438 375543 257513 145682 88734 J 1422654 1302506 1061892 1049231 1017499 852533 687038 398216 268056 169097 94561
K 589245 582782 576372 569909 563499 557036 440649 316740 207081 136888 81794 K 1061892 903337 814444 808087 801730 597510 482076 326805 215504 142239 94561
L 485996 466607 460091 453628 447112 401607 349426 237701 170846 136888 81794 L 782659 648684 546282 533462 507769 482076 365848 248402 170846 136888 94561
Fancy 5.00-5.99
Fancy 4.00-4.99
E 4431392 2974728 2811140 2319952 2193923 1372487 1010983 544163 453628 257513 123221 E 5708152 4851487 393734433543493065686 1889527 1087214 559102 456330 257513 155695
M 395144 382059 375543 369027 355995 336394 270704 184301 164065 136888 81794 M 584742 482076 430531 404732 378827 359332 281140 195691 164065 136888 87674
N 297033 283895 270704 257513 244323 237701 211107 177574 164065 130055 74854 N 436994 404732 365848 313773 254971 241833 215504 182394 164065 130055 80787
32
JANUARY 1st 2012
ME
OQ>
{deo
fM
[anmo
{dZmoX Hw$[a`Z mam
bmoJm| _| {\$a go nm Ho$ {V

bbH$ nXm H$aZo H$s H$mo{ee
aZm| Ho$ _m` _y` _| Oo_\$sS>g mam ^mdZm, Z{VH$Vm Ed
n`mdaU Ho$ gamoH$mam| H$m gp_bZ
nm Ama aZ IXmZ g_yh Oo_\$sS>g Ho$ grBAmo B`Z
hoAa~mQ>b H$hVo h, nm Ho$ {bE bmoJm| H$s _mJ H$mo {\$a go
o[aV H$aZm MmhVm h& nm Ho$ $n _| h_mao nmg Eogo CnmX h
{OZgo BH$m Ama EVoH$ go boH$a MJoO ImZ Ama pb`monQ>m
VH$ n[a{MV Wo& Ama, V~ ^r aZm| H$m gH$b d{H$ ~mOma _m
$1.5 {~{b`Z A_o[aH$Z S>mba (7,736 H$amoS> .) H$m h& BgH$s
VwbZm bwBg {dQ>Z (Louis Vuitton) Ogo EH$b H$nZr Ho$ _wZm\o$
go {H$`m OmE Vmo `h $2.5 {~{b`Z A_o[aH$Z S>mba (12,894
H$amoS> .) Wm!
nwZ dh H$hVo h, do H$n{Z`m Vmo M_S>o Ama bmpQ>H$ Ho$
`dgm` H$aVr h& {\$a nm Ama aZm| Ho$ `dgm` _| bJo h_
34
bmoJ ~mOma _| Ama _y` H$s _mJ `m| Zht H$a gH$Vo? AnZo
gdmb Ho$ Odm~ _| dh H$hVo h, _wm ~mpS>J (Vw{VH$aU)
H$m h& bwB {dQ>Z Ogr H$n{Z`m ~mpS>J H$mo g_PVr h Ama
Chm|Zo AnZo Zm_ _| hr _y` {Z{hV H$a aIo h& nm Ho$ gmW
`h ~mV Zht& Ama do ~mOma _| ahVo hE Cn^mo$mAm| H$m `mZ
AnojmH$V ~hV hr H$_ _y` H$s Amoa ItMZo H$s H$mo{ee H$aVo
h, h_| dhm CZHo$ gmW hmoZm Mm{hE&
AnZo VarHo$ go, Oo_\$sSg H$m H$hZm h BgZo nm H$s H$s_V
H$mo gJ{R>V IXmZ `dgm` Ama O`nwa Ho$ H$Q>mB Ed nm{be
H$aZo dmbo \$_m] Ed A` Ho$m| H$mo {Z`{_V Amny{V Ho$ O[aE
D$na CR>mZo _| _XX H$s h& {ZaVa Amny{V Ama ghr JwUdmm
IDEX MAGAZINE INDIA RETAIL| NO14: SPECIAL REPORT
gJR>Z Ama g_wV `moOZmAm|

Ho$ O[aE Oo_\$sSg Zo X{Z`mâ
_| Cn^mo$mAm| Ho$ AZwHy$b `mgm|
Ho$ O[aE nm H$s _y`-d{ Ho$ {bE
H$m_ {H$`m h& BZ `mgm| _| go EH$ h
hm{W`m| Ho$ {bE nm H$m`H$_& Bg `mg Ho$
gajH$ ~r~rgr dmBS>bmB\$ Ho$ Vw{VH$Vm So>{dS>
EoQ>Z~moamo Wo {Oh| X{Z`m â Ho$ Cn^mo$m n`mdaU Ho$
{bE gH$mam_H$ e{$ _mZVo h&
Ama gmW hr Z{VH$ `dhma Zo H$Q>mB Ama nm{be Ho$ `dgm`
H$mo Z Ho$db ~ohVarZ `mnm[aH$ `moOZm ~ZmZo _| _XX H$s h
~pH$ BgZo H$s_Vm| H$s d{ hoVw Amd`H$ gmYZ ^r XmZ
{H$E h&
gJR>Z Ama g_wV `moOZmAm| Ho$ O[aE Oo_\$sSg Zo X{Z`mâ
_| Cn^mo$mAm| Ho$ AZwHy$b `mgm| Ho$ O[aE nm H$s _y`-d{
Ho$ {bE H$m_ {H$`m h& BZ `mgm| _| go EH$ h hm{W`m| Ho$ {bE
nm H$m`H$_& Bg `mg Ho$ gajH$ ~r~rgr dmBS>bmB\$ Ho$
Vw{VH$Vm So>{dS> EoQ>Z~moamo Wo {Oh| X{Z`m â Ho$ Cn^mo$m
n`mdaU Ho$ {bE gH$mam_H$ e{$ _mZVo h& BgHo$ mam hmWr
Wr_ dmbo nm Ho$ Am^yfUm| H$s {~H$s go m YZ H$m EH$ {VeV
hm{W`m| Ho$ dmg Ho$ {bE gwa{jV J{b`mao Ho$ {Z_mU hoVw IM
{H$`m J`m&
bXZ _| g\$b hmoZo Ho$ ~mX Bg A{^`mZ H$mo ^maV _| Mmbm`m
J`m Ohm ~mbrdwS> H$s A{^Zor _mYwar Xr{jV BgH$m ~mS>
E~gS>a ~Zr& ^maVr` CJmhr 3.68 H$amoS> nE ($750,000)
H$s hB {Og_| go 73.54 bmI ($150,000) . ^maV _| dS>
bS> Q>Q> Ama dmBS>bmB\$ Q>Q> Ogo gajU A{^`mZm| Ho$ {bE
{XE OmEJo& XmoZm| gJR>Z dÒrd J{b`mam| Ho$ ZoQ>dH$ Ho$ {Z_mU
Ho$ {bE H$màV h {OgH$m Co` h hm{W`m| Ho$ {dMaU Ho$ {bE
Eogo gwa{jV _mJm] H$m {Z_mU H$aZm {OZna _Zw`m| Ho$ gmW
CZH$m H$_ go H$_ Q>H$amd hmo&
35
d` Ord Ama n`mdaU Ho$ _wm| Ho$ Abmdm Omp~`m Ho$ H$J_
(Kagem) _| {d Ho$ EH$_m gJ{R>V nm IXmZ Ho$ gMmbH$
Oo_\$sSg H$s CnbpY Bg ~mV H$mo boH$a ^r h {H$ nm H$s
IwXmB H$m BgH$m H$m_ nyar Z{VH$Vm Ho$ gmW {H$`m OmVm h&
25% Omp~`m`r gaH$ma H$s {hgoXmar dmbm `h IXmZ AnZo
l{_H$m| Ho$ OrdZVa H$mo gwYmaZo Ho$ Cnm` ^r H$aVm h& BZ
Cnm`m| Ho$ VhV em{_b h WmZr` g_wXm`m| Ho$ {bE Hy$bm| Ama
dm` Ho$m| H$s WmnZm VWm Ch| H${f Ed EMAmBdr ESg
H$s amoH$Wm_ g~Yr gbmh CnbY H$amZm&
Oo_\$sSg H$mo AnZo n`mdaUr` `dhma na ^r Jd h& Ogm
{H$ H$nZr Ho$ grE\$Amo Xod eo>r H$hVo h, X{Z`m _| H$moB ^r
nm H$s IwXmB Cg Vah Zht H$aVm {Og Vah h_ H$aVo h& O~
IXmZ dmbo jo h_mao A{YH$ma _| AmE Wo V~ dhm N>moQ>o-N>moQ>o
H$marJa CIZZH$VmAm| Ho$ ~S>r g`m _| Iwbo hE Jo Wo& h_Zo
BZ Jm| H$mo nmZr go â H$a _N>br nmbZ Ho$ Obme`m| _| ~Xb
{X`m& AnZo dV_mZ H$m` Ho$ XmamZ h_ IXmZ Ho$ hr EH$ {hgo
_| IXmZ Ho$ An{e>m| H$mo X~m XoVo h, Z {H$ Ch| H$ht ~mha bo
OmH$a \|$H$Vo h& BgVah IXmZ Ho$ Jhao {hgo âVo OmVo h&
{\$a, h_ An{e>m| go âo BbmHo$ _| noS> bJm XoVo h&
gnyU {H$`m lIbm _| D$Mo _mZXS>m| Ho$ H$m`_ aIZo Ho$ `mg
AnZo Z{VH$ `dhmam| Ho$ Abmdm Oo_\$sSg MmhVm h {H$ CgH$s
gnyU {H$`m lIbm _| ^r g_mZ _mZXS>m| H$m nmbZ {H$`m OmE&
Ogr ^y{_H$m H$^r hram `dgm` _| S>r ~oà Zo {Z^mB Wr dgr
Ian Harebottle
hr ^y{_H$m {Z^mVo hE Oo_\$sSg aJrZ nWam| Ho$ gH$aU

`dgm` _| C Var` nmaX{eVm bmZm MmhVm h Ama `h ^r
MhVm h {H$ JmhH$ VH$ nhMZo go nhbo nWa AnZo CnMma H$s
{OZ {H$`mAm| go hmoH$a JwOaVm h CgHo$ ~mao _| nyar OmZH$mar
H$Q> H$a Xr OmE& Oo_\$sSg H$m _mZZm h {H$ Bggo aZ
VameZo dmbo CZ bmoJm| H$mo AZJT> aZm| H$s {~H$s ~X hmo OmEJr
Omo nyU nmaX{eVm Zht ~aVVo&
Prospective buyers at Jaipur
36
lr eo>r Ho$ AZwgma, g_`m h [aQ>oba go Bg naX{eVm nmbZ

H$adm`m OmZm& EH$ ~ma O~ aZ H$Q>mB Ama nm{be H$aZo dmbo
\$_ go {ZH$b OmE Vmo h_mao {bE AmJo H$s `mm _| BgHo$ {bE
nyU nmaX{eVm H$m`_ aIdm nmZm _wpH$b hmo OmVm h& h_ AnZo
JmhH$m| H$mo mogm{hV H$aVo h {H$ do AnZo Vameo hE _mb Ho$db
Cht [aQ>obam| H$mo ~oM| {OZHo$ ~mao _| Ch| âmogm hmo {H$ do nyar
nmaX{eVm H$m I`mb aI|Jo& bo{H$Z, AVV ò Vmo [aQ>oba hr hmoVo
{~H$s H$s OmVr h& D$Mr H$s_Vm| dmbo _mb Ho$ {bE bXZ,
Omohmg~J Ama qgJmnwa _| ~mobr bJmB OmVr h O~{H$ gVr
loUr dmbo _mb H$s ~mobr O`nwa _| bJmB OmVr h& N>Q>mB H$s
{~Hw$b ghr {H$`m AnZmZo Ho$ H$aU Oo_\$sSg Ho$ {bE
R>rH$-R>rH$ `h OmZZm g^d hmoVm h {H$ BgHo$ bm^ H$m ~S>m
{hgm H$hm go AmVm h& eo>r g_PmVo h, h_ AnZo bm^ H$m
80% AnZo AZJT> _mb Ho$ Ho$db 8% H$sE {~H$s go hm{gb
H$aVo h& eof 92% H$mQ>H$a nm{be {H$E JE no hmoVo h Omo
_ybV Am_ IarXXmam| Ho$ {bE ~mOma _| {~H$Vo h&
`{n `mnH$ ~mOma Ho$ BZ nm| H$s H$s_V AnojmH$V {ZZ
Va H$s hmoVr h bo{H$Z CZH$s gw`dpW m{ Ama {~H$s go
CZH$s H$s_V _| {ZaVa gwYma Am ahm h& O`nwa _| {nN>bo Zd~a
_hrZo _| 9.8 {_{b`Z H$aQ> Ho$ {ZZVar` _mb Ho$ {bE bJmB
~mobr $11 {_{b`Z S>mba (56.9 H$amoS> .) H$s ahr {Og_| {V
H$aQ> $1.12 S>mba `m 57.97 . H$s Xa nmB JB& `h Bg gmb
_mM _| 12.98 {_{b`Z H$aQ> Ho$ {bE $0.77 S>mba {V H$aQ>
H$s Xa go bJr ~mobr H$s VwbZm _| 45.5% A{YH$ ahr& _mM _|
Bg 12.98 {_{b`Z H$aQ> Ho$ {bE Hw$b $9.9 {_{b`Z S>mba
(51.24 H$amoS> .) H$s ~mobr bJr& _mM 2010 H$s Zrbm_r H$s
VwbZm H$aZo na, Ohm 22.8 {_{b`Z H$aQ> H$s {~H$s Ho$db
$7.2 {_{b`Z S>mba (37.3 H$amoS> .) `m {V H$aQ> $0.31
S>mba `m{Z 16.05 . H$s Xa go hB, {V H$aQ> H$s_V _| 261.3
% H$m OmoaXma CN>mb Am`m h&
Rough emeralds
h {OZHo$ hmWm| _| AnZo H$mCQ>a go {~H$Zo dmbo _mb Ho$ ~mao _|

JmhH$ H$mo nyar OmZH$mar XoZm hmoVm h&
bo{H$Z D$na Ho$ Va na XoI| Vmo Oo_\$sSg Zo CXmhaU VwV
{H$`m h& `h ~VmVo hE {H$ IXmZ Ho$ n`mdaUr` Cnm` {H$VZo
H$maJa h eo>r H$hVo h {H$ O~ Oo_\$sSg Zo AnZm YYm ew$
{H$`m Wm V~ gaH$ma mam BgHo$ n`mdaU Xm{`d H$mof _| $5.2
{_{b`Z A_o[aH$Z S>mba (26.9 H$amoS> .) H$s Xo`Vm AmH$s JB
Wr& AmO Bg _X _| H$nZr na Xo`Vm KQ>H$a Ho$db $500,000
A_o[aH$Z S>mba `m{Z 2.6 H$amoS> . ah JB h&
Oo_\$sSg H$m g~go ~S>m ^md nm Ho$ gH$aU ~mOma
na nS>m h& IXmZ go hmoZo dmbo gnyU CnmXZ H$mo 200 JoS> _|
^S>m[aV {H$`m OmVm h Ama {\$a ~mobr {Z`{_V bJmH$a BZH$s
Separation at Kagem mine
37
AnZo Z{VH$ `dhmam| Ho$ Abmdm

Oo_\$sSg MmhVm h {H$ CgH$s
gnyU {H$`m lIbm _| ^r g_mZ
_mZXS>m| H$m nmbZ {H$`m OmE& Ogr
^y{_H$m H$^r hram `dgm` _| S>r
~oà Zo {Z^mB Wr dgr hr ^y{_H$m
{Z^mVo hE Oo_\$sSg aJrZ nWam|
Ho$ gH$aU `dgm` _| C Var`
nmaX{eVm bmZm MmhVm h...
38
Zd~a _| hB Zrbm_r _| 10.8 {_{b`Z H$aQ> Ho$ {bE 27

H$n{Z`m| Zo ~mobr bJmB Wr& Hw$b {_bmH$a 1 {_{b`Z H$aQ> _mb
~mobr Ho$ [aOd H$s_V VH$ Zht nhMZo Ho$ H$maU {~H$ Zht nm`m&
Zrbm_r _| Q>oS> _Q>r[a`b ^r aIo JE Wo Omo A` IXmZm| Ho$
AZJT> _mb Wo {OZHo$ gmW Oo_\$sSg Ho$ Omp~`m Ho$ H$J_
IXmZ dmbo Z{VH$ Ama lo> `dgm` `dhma Ho$ {dnarV Bg
Vah H$s H$moB JmaQ>r Zht Wr& Q>oS> _Q>r[a`b H$s {~H$s Ho$
AmH$S>o CnbY Zht h&
Oo_\$sSg H$m H$hZm h BgH$s AJbr Zrbm_r H$s_Vr _y` dmbo
_mb Ho$ {bE H$s OmEJr Ama `h _mM 2012 _| hmoJr& {nN>br
~ma H$s_Vr Zrbm_r OwbmB 2011 _| qgJmnwa _| hB Wr Ama
Bg_| 740,000 H$aQ> H$s {~H$s go $31.6 {_{b`Z A_o[aH$Z
S>mba `m{Z 163.57 H$amoS> . H$s m{ hB Wr& BgH$m AW
hAm $42.71 (2,210.71.) {V H$aQ> Omo {H$ OwbmB 2009 Ho$
$4.4 (227.75 .) {V H$aQ> Ho$ AmH$S>o H$s VwbZm _| 870.7 %
A{YH$ Wm& Omohmg~J _| {Xg~a 2010 H$s Zrbm_r Ho$ $26.2
(1,356.16 .) {V H$aQ> H$s AmH$S>o H$s VwbZm _| `h 63%

A{YH$ ahm&
AmO Ohm hrao H$m {d ~mOma X{g`m| Ia~ S>mba Ho$ AmH$S>o H$mo
Ny> ahm h dht nm H$m {d ~mOma $330 {_{b`Z S>mba `m{Z
1,708.2 H$amoS> Ho$ Amg-nmg hr {g_Q>m hAm h (AZw_m{ZV, H$moB
A{YH$V AmH$S>m Zht)& eo>r ~VmVo h, {H$ Bg_| Oo_\$sSg H$s
^mJrXmar 20% h (`h H$moB gQ>rH$ AmH$S>m Zht Ama Bg_| ~hV
Hw$N> Ny>Q>m hAm hmo gH$Vm hmo gH$Vm h)& Bg_| go $250 {_{b`Z
(1,294 H$amoS> .) ^maVr` H$Q>mB Ed nm{be CmoJ _| In
OmVm& {nNbo {dm df Ho$ XmamZ (Omo {H$ 30 OyZ H$mo I_ hAm
h) Oo_\$sSg Zo $40.2 {_{b`Z (208.1 H$amoS> .) H$s {~H$s
H$s& AnZo jo _| Bg {dmr` df _| Ho$db Xmo Zrbm{_`m H$a BgZo
$42.6 {_{b`Z (220.5 H$amoS> .) A{OV {H$E&
nm CmoJ AmO ^r AnZr nyar j_Vm Ho$ IS>m Zht h
Bg ^mdembr _y` {ZnmXZ Ho$ ~mdOyX ^r hoà~mQ>b H$mo
bJVm h {H$ nm AnZo ghr _y` VH$ ^r Zht nhM nm`m h&
hrao H$s VwbZm _| nm 20 JwZm A{YH$ Xb^ h& CZHo$ AZwgma
nm Zo _mZd B{Vhmg _| ^r _hdnyU ^y{_H$m {Z^mB h& CZHo$
AZwgma [aH$mS> ~VmVo h {H$ Bgm nyd 4000 _| no H$s IarX
{~H$s ~o{~bmoZ Ho$ ~mOmam| _| hmo ahr Wr& Ama V~ ^r `h h[aV
aZ Cn^mo$mAm| H$s ZOam| _| dh WmZ Zht hm{gb H$a nm`m
h Omo AmO hrao H$mo hm{gb h& CZHo$ AZwgma `hr dh pW{V h
{Ogo Oo_\$sSg H$nZr ~XbZm MmhVr h&
no H$s {~H$s Ho$ {bE ^maV EH$ _hdnyU Xoe h& Cn^moJ Ho$
{hgm~ go ^maV pWa $n go d{ H$a ahm h, ImgH$a 2008
_| ew$ {H$E JE Am{WH$ ~Xbmdm| Ho$ ~mX go& AmO nm Ho$ {d
Cn^moJ H$m 50% ^maV _| {H$`m OmVm h& BgHo$ ~mX WmZ h
A_o[aH$m H$m Omo {H$ H$^r 80 Cn^moJ H$aVm Wm&
Rough emeralds at the Kagem mine
AnZo ~T>Vo hE ~mOmam| Ho$ gmW Oo_\$sSg AnZo CnmXZ H$mo

~T>mZo H$s Amoa ^r `mZ Xo ahm h& Bgo C_rX h {H$ 2012
_| $10-15 {_{b`Z S>mba (51.8-77.6 H$amoS> .) Ho$ ~rM Ho$
`` go `h ~mOrb H$s IXmZ H$m A{YJhU H$m` nyam H$a boJm&
{dVma H$s `moOZm ^r gmW-gmW h& Oo_\$sSg H$m H$hZm
h `h _moOmp~H$ _| _m{U` H$s IXmZ _| 75% ^mJrXmar Ho$
A{YJhU Ho$ ^r ~hV H$ar~ h& BgH$s ZOa A` IXmZm| Ed
aZm| na ^r h {Og_| em{_b h VOm{Z`m _| Vwa_br H$m ^S>ma&
^maV _|, Ohm aJrZ nWam| Ho$ CmoJ na b~o g_` go `mo{Vf
~mOma H$m H$Om ahm h Ama Bg{bE `h gVo nWam| VH$ hr
gr{_V ahm h, Oo_\$sSg H$s H$mo{ee h Cn^mo$mAm| _| no Ho$
{V ^mdZm OJmH$ma CgH$s {V>m H$mo CZH$s ZOam| _| D$Mm
CR>mZm& AmZo dmbo g_` _| Mmho `h {H$gr ^r A` aZ Ho$ IZZ
H$s Amoa _wS>o, ~mOma _| nm H$s _y` d{ H$s _h{V AmH$mjm Ho$
gmW `h ^{d` H$s Amoa C_wI h&
IDEX
39
The Need To Excite

Consumers About
Jewellery
BY VINOD KURIYAN
40
IDEX MAGAZINE INDIA RETAIL| NO 14 COVER STORY
ewellery, say archaeologists, has been worn by humans

for about 100,000 years. Even after all these years, say social
scientists, the drivers that motivate people to wear jewellery
are much the same. The very earliest jewellery wearers wanted
to proclaim their wealth, power and privilege along with
an identification of gender, age and social class. The 21st
Century jewellery wearer would identify some or all of the
factors listed above.
The key difference is that the gem and jewellery industry
simply cannot take for granted today, the consumers need
to wear jewellery. A range of other products on offer today
fulfill many of the criteria listed above. And most tellingly
of all, jewellery seems to be slipping behind the other
product categories in its attempts to stay relevant and on the
consumers list of desirables.
We simply cannot sit back and hope the age-old drivers will
continue to push our products across the sales counters, says
Gem & Jewellery Export Promotion Council (GJEPC) Vice
Chairman Sanjay Kothari. We have to constantly remind the
consumer of the advantages of our product over the others
that are jostling for a share of the consumers wallet. We need
to get them excited about our product. They must want to
buy jewellery.
IDEX MAGAZINE INDIA RETAIL| NO 14: COVER STORY
41
A failure to actively target the consumer and promote

jewellery, Kothari warns, could have serious repercussions on
the industry. We have already got something of a warning
from the consumer this Diwali, he says,
they bought primary gold biscuits and bars but they
bought very little jewellery. Intrinsic value, the one thing
weve relied on to continue selling our product these many
millennia, is no longer a guarantee of sales. Given the price
of gold and its huge fluctuations why would anyone
want to risk buying a product that of necessity isnt made
of pure gold and on top of that, lose more value as making
charges are deducted?
interested in their products all these millennia, says one

marketing strategist who asked not to be identified due to
contractual reasons, they have only been interested in the raw
material that went into the product gold. Now, he notes,
jewellery retailers have to get Indian consumers interested
in their product because the raw material is now being
increasingly bought in its primary form and doesnt require
the services of the gem and jewellery industry.
The Indian gem and jewellery industry, points out one

market researcher, has done very little to address
the consumers need to wear jewellery.
With investment out of the equation, the industrys future
lies in targeting the other reasons why people wear jewellery.
Psychologists note that jewellery offers the consumer a way to
differentiate herself or himself just the way other fashion
accessories such as scarves, handbags, shoes, sunglasses and
cosmetics do.
The Indian gem and jewellery industry, points out one market
researcher, has done very little to address the consumers
need to wear jewellery. Whether or not that need is strong
and prevails over the other factors influencing the consumers
buying behaviour is what will determine the industrys future,
he notes. After everything is said and done, what it all comes
down to is whether or not your sales have been good. Nothing
is more important to a business than sales. Its the top line
of the income statement, and the activity and result that
makes all the others possible. Every single jewellery retailers
survival and long-term well-being are ultimately dependent
on successful sales results.
He goes on to say, For literally thousands of years, Indian
jewellers didnt have to worry about sales. They had a
clientele of millions who were just waiting for opportunities
to buy their products. If you had jewellery to sell, you had a
successful business.
Not any more. What many jewellery retailers have failed
to identify is that Indian consumers have not really been
42
ADVANTAGE OF RELATIONSHIPS
In this endeavour, most Indian jewellery retailers do have
one absolutely priceless asset long-term relationships
with consumers. Most other industries selling products
to consumers would give an arm or leg for the kind of
relationships Indian jewellery retailers have with their clients,
notes the strategist. In todays world, if you have a strong
relationship with customers, you have a successful business.
The product you sell is literally of secondary importance.
But the relationships alone dont mean the customer really
wants what the jewellery retailer has. That, say most industry
watchers, is the key to future success. Retailers need to
ask themselves what they need to do in order to have their
customers want what they have to sell, noted a speaker at
a seminar on marketing. For many consumer products, this
doesnt come from market research and understanding the
consumers needs and wants only. Successful firms come up
with products that consumers didnt know they even wanted
until then. He went on to quote the success of the late Steve
Jobs, the co-founder of Apple as a classic example of this.
Jobs came out with products customers didnt know they
wanted. Now the iPod, iPhone and iPad are all must have
products for many consumers and set the standards for all
similar products from competitors as well.
The entire process pipeline has shortened and changed.

Where mines once sold their products to rough
diamond dealers, they are now selling directly to
cutting and polishing firms.
The jewellery retail industry in India, has only
really reacted to established consumer wants
at established sales occasions. It hasnt ever
thought out of the box and hasnt worked at
innovating and developing novel products
that would attract the interest of the
modern consumer. To begin with, it
needs to understand that the way
the consumer is serviced is rapidly
changing too.
We need to understand,
says the GJEPCs Kothari,
the way the world shops
and buys is changing
rapidly. It has already
impacted the gem and
jewellery industry. Take
diamonds for instance.
The entire process pipeline
has shortened and changed.
Where mines once sold their
products to rough diamond dealers,
they are now selling directly to cutting
and polishing firms. The rough dealer
has all but vanished. And further down the
pipeline, where the cutting and polishing firms
sold polished diamonds to wholesalers who then
supplied jewellery manufacturers, the wholesaler has
become an endangered species as diamond processors sell
directly to jewellery manufacturers who in turn have cut
out their wholesalers and now sell directly to the retailers.
Given the internet and how it is changing the way business
is conducted, it isnt unthinkable to imagine a world where
tomorrow the retailer might go the way of the rough dealers
and wholesalers as jewellery manufacturers directly interface
with consumers.
43
But, Kothari
cautions, what is key is
that the consumer remain
interested in the industrys
product. Without the consumer,
we dont have any business no
matter which part of the process chain
dominates it. And Kothari worries that
the consumers interest might be flagging.
After De Beers exited from its global generic
promotions of diamonds, there has been a noticeable
slump in the pull-through from the consumer end for the
diamond process pipeline. Whatever anyone might say, De
Beers really did boost demand for diamonds by infusing them
with emotional content and making them an object of desire.
They did this for decades, spending between $150 million and
$250 million a year towards the end. The industry now takes
that consumer desire for granted. This is a big mistake.
Kothari points out that while there are over 300,000 jewellery
retailers in India by some estimates, those actively promoting
jewellery can be counted on one hand. Its just a few of the
big operations, particularly the branded ones. Weve got to get
broad industry involvement in marketing and promotions,
he states.
VALUE FOR MONEY STILL MATTERS
One way to get the value conscious Indian consumer
interested he thinks, is to develop product that the consumer
also perceives as being good value for money. But to get
44
there, the industry has

to first understand what
the consumer thinks is fair
value for the product. Right
now, he says, diamond prices are
more or less being set by the mining
firms. This is a complete reversal of the
established process for any product. It is
always the consumer who sets prices through
We have too much in the way of business-
business-to-consumer
shows. We need to
focus our efforts on the
end consumer. These shows
should allow only retailers and
brands. That way they we will
ensure that the consumer is clearly the
focus of the show.
to-business activity and not enough in

terms of consumer outreach.
demand and willingness to pay. You cant force prices down a
consumers throat.
Kothari thinks that developing product that fits clearly defined
price points would help set demand levels that would then
rejig diamond prices according to what the consumer is willing
to pay. But we need to actively target the consumer with
whatever it is we are offering. According to him, the GJEPC,
which ran the Anant generic diamond promotion campaign a
couple of years ago, is willing to revive a modified version of
the initiative if the retail industry is willing to participate with
both funds and inputs. The Anant campaign used Bollywood
actress Sonam Kapoor as its brand ambassador to define the
many roles of a woman in society a daughter, a lover, a
wife, a friend and a professional. It used a variety of diamond
jewellery to stand as symbols defining each of those roles.
The campaign wasnt a commercial success, but Kothari thinks
that the industry learned a lot from it and a refined edition
might actually help the industry make that all important
connection with the consumer. It all depends on what the
retail industry thinks would hit the target, he says. If they
think they might do better with a version of their Lucky
Lakshmi initiative, the GJEPC is willing to back them. Were
willing to back them with anything else they might come up
with in the way of a business-to-consumer outreach.
While the Indian gem and jewellery industry has had great
success with the various parts of the process pipeline
networking and interacting, it hasnt been able to successfully
extend that interaction to the end consumer. We have too
much in the way of business-to-business activity and not
enough in terms of consumer outreach. We have the IIJS
trade show in August, which is one of the worlds three
largest shows; the Signature show in January, which has had
a great deal of success in getting niche and high end players
in touch with their appropriate counterparts either upstream
or downstream; and a host of other professionally managed
shows all targeting various players within the industry itself.
We need more consumer oriented trade shows.
According to Kothari, to stimulate and keep up consumer
interest, there should be a minimum of 10 well-organized
INTERNET EXTENDS REACH

The internet, say marketers, also provides a great platform to
help fire up and maintain consumer interest in jewellery. The
Jewelers of America (JA), a US national trade association of
jewellery retailers, runs the Jewelry Information Center (JIC),
which is a dedicated consumer education organization. It runs
internet campaigns like the Sparkling Snapshots initiative,
which offered prizes for the best photos of consumers
wearing jewellery at some specific occasion. Along with this,
it also ran the Ultimate Proposal Contest that encouraged
consumers to write in and share their proposal stories.
By using the internet, these campaigns had two advantages,
they had tremendous reach all across the US at very little cost
and they provided consumers with an opportunity to get
national visibility. The campaigns also reinforced the message
that diamonds, gemstones and jewellery stand as symbols
for a great deal of emotional content. This is something that
resonates strongly with todays consumers all around the world.
The internet has a surprising strong penetration in India
and is rapidly becoming the route of choice for a variety of
Indian products that want to expand their reach to consumers
around the country. The gem and jewellery industry has
been a relatively slow adopter of the internet as a means of
commerce.
There are a variety of options, but aggressive action needs
to be taken now, say industry watchers. One jewellery
manufacturer reported after an extensive countrywide tour
that retailers all over the country were reporting declining
footfalls. This is a problem, Kothari notes. He states that on
a visit to Dubai recently to speak to an industry focus group,
he observed that while a gem and jewellery show seemed to
have more exhibitors than visitors, a nearby automobile show
was packed with consumers.
Whatever it is we do, says Kothari, we have to do
collectively and quickly. Time is running out and we run the
risk of being swamped by a whole range of other products
that are all being aggressively promoted. Were losing ground
and we need to do something about it right now. Tomorrow
might be too late. I D E X
45
Am^y f Um| Ho $ ~mao _|

Cn^mo $mAm| H$mo o [ aV
H$aZo H$s Amd`H$Vm
{dZmoX Hw$[a`Z mam
46
IDEX MAGAZINE INDIA RETAIL| NO 14 COVER STORY
nwamVddommAm| H$m H$hZm h {H$ _Zw` Am^yfUm| H$m BVo_mb

100,000 dfm] go H$aVm Am ahm h& g_mO {dkm{Z`m| H$m H$hZm h
{H$ BVZo dfm] Ho$ ~mX ^r bmoJm| Ho$ Am^yfU nhZZo Ho$ H$maU dhr
h Omo nhbo Wo& EH$X_ ewAmV _| Am^yfU nhZZo dmbo Am^yfUm|
Ho$ O[aE AnZo qbJ, Am`w Ama gm_m{OH$ h{g`V Ho$ gmW-gmW
AnZr g_{, e{$ Ama {deofm{YH$ma H$m XeZ H$aVo Wo& 21dt
gXr Ho$ Am^yfU YmaUH$Vm Cnamo$ _| go Hw$N> `m g^r H$maH$m| H$mo
`mZ _| aIVo h&
_w` AVa `h h {H$ Am^yfU Ama aZ CmoJ AmO Ho$ Xma _|
Am^yfU nhZZo H$s Cn^mo$mAm| H$s Amd`H$VmAm| H$mo hbHo$ go
Zht bo gH$Vm& AmO CnbY A` CnmXm| H$s lIbm D$na
d{UV AZoH$ eVm] H$s ny{V H$aVo h& Ama _hdnyU ~mV `h h {H$
JmhH$ H$s AmH$mjm gyMr _| mg{JH$Vm Ho$ {bhmO go Am^yfU A`
CnmXm| H$s VwbZm _| nrN>o Ny>Q> aho h&
Oo_ ES> dobar EnmoQ> _moeZ H$mC{gb Ho$ Cnm`j gO`
H$moR>mar Ho$ AZwgma, h_ Amam_ go ~R> H$a Bg ~mV H$s Vrjm
Zht H$a gH$Vo {H$ `wJm| nwamZo H$maH$ AmO ^r JmhH$m| H$mo CnmX
IarXZo H$s oaUm X|Jo& h_| {ZaVa AnZo JmhH$m| H$mo A` CnmXm|
H$s VwbZm _| h_mao CnmXm| go hmoZo dmbo \$m`Xm| Ho$ ~mao _| ~VmZm
hmoJm& h_| JmhH$m| H$mo CnmXm| Ho$ {V amo_m{MV H$aZm hmoJm& do
Ad` Am^yfU IarXZm Mmh|Jo&
JmhH$m| H$mo AmH${fV H$aZo Ama Am^yfUm| Ho$ Mma H$aZo H$s VnaVm
_| H$_r hmoZo go CmoJ na ~wam Aga nS> gH$Vm h& do H$hVo h,
Bg {Xdmbr h_| JmhH$m| H$s Amoa Hw$N> MoVmdZr Ho$ Vd m hmo MwHo$
h& Chm|Zo mB_ar JmoS>- Ogo gmoZo {~Hw$Q>, N>S> Am{X IarXo h
bo{H$Z gmoZo Ho$ Am^yfUm| H$s IarX ~hV H$_ H$s JB h& _yb YmVw
H$s H$s_V EH$ Eogm H$maH$ h {Ogna h_ AnZo CnmXm| H$mo ~oMZo
Ho$ {bE hOmam| dfm] go âmogm H$aVo Am aho h, bo{H$Z A~ `h
H$maH$ CnmX H$s {~H$s Ho$ {bE H$maJa Zht ah J`m h& gmoZo H$s
H$s_Vm| Ama Bg_| ^mar CVma-MT>md H$mo `mZ _| aIVo hE H$moB
^r `{$ Eogr {H$gr MrO H$mo IarXZo H$m Omo{I_ `m| CR>mZm
MmhoJm {OgHo$ {bE ew gmoZo H$m ~Zm hmoZm O$ar Z hmo Ama Bggo
^r ~S>r ~mV {H$ BgHo$ {Z_mU na hmoZo dmbo `` Ho$ $n _| _y`H$Q>mVr hmo OmE?
47
{Zdoe H$s ~mV N>mo{S>E, CmoJ H$m ^{d` Bg ~mV Ho$ AZwgYmZ
na {Zâ H$aVm h {H$ bmoJ Am^yfU `m| YmaU H$aVo h& _
Zmodkm{ZH$ ~VmVo h {H$ Am^yfU `{$ H$mo Amam| go AbJ
{XImZo H$m gmYZ h, R>rH$ Cgr Vah {Og Vah H$m\$, hS>~J,
OyVo, Yyn M_o Ama H$m_o{Q>g H$s ^y{_H$m hmoVr h&
^maVr` aZ Ed Am^yfU CmoJ Ho$ EH$ ~mOma emoYmWu Ho$
AZwgma Cn^mo$m Ho$ Am^yfU nhZZo H$s O$aVm| H$m nVm bJmZo
Ho$ {bE `mXm Hw$N> Zht {H$`m h& CgHo$ AZwgma, do O$aV|
~b h `m Zht Ama do Cn^mo$m Ho$ H$`-`dhma H$mo ^m{dV
H$aZo dmbo A` H$maH$m| na ^mdr h `m Zht Eogm V` h Omo
Bg CmoJ Ho$ ^{d` H$mo {ZYm[aV H$aoJm& O~{H$ BVZm Hw$N> H$hm
g~Ym| Ho$ bm^
Bg CnH$_ _| ^maVr` IwXam Am^yfU {dHo$Vm Ho$ nmg EH$ ~hV

hr _y`dmZ gnXm h- JmhH$m| Ho$ gmW {Z{_V XrKH$mbrZ g~Y&
CZ aUZr{VH$ma Ho$ AZwgma, ^maVr` IwXam Am^yfU {dHo$VmAm| Ho$
{Og Vah Ho$ g~Y AnZo JmhH$m| go h Cg Vah Ho$ g~Ym| Ho$ {bE
JmhH$m| H$mo CnmXm| H$s {~H$s H$aZo dmbo A` AZoH$ CmoJ Vmo Hw$N>
^r XoZo H$mo V`ma hmo OmE! AmO H$s X{Z`m _|, `{X JmhH$m| Ho$ gmW
AmnH$m g~Y _O~yV h Vmo AmnH$m `dgm` g\$b H$hbmEJm&
AmnHo$ mam ~oMo OmZo CnmXm| H$m WmZ BgHo$ ~mX AmVm h&
bo{H$Z Ho$db g~Y ~Z OmZo H$m `h AW Zht {ZH$bVm {H$ [aQ>oba
Ho$ nmg Omo h CgH$s IarX _| JmhH$ H$s gM_wM {M h& AZoH$
h_ Amam_ go ~R> H$a Bg ~mV H$s Vrjm Zht H$a gH$Vo {H$ `wJm| nwamZo H$maH$
AmO ^r JmhH$m| H$mo CnmX IarXZo H$s oaUm X|Jo& h_| {ZaVa AnZo JmhH$m|
H$mo A` CnmXm| H$s VwbZm _| h_mao CnmXm| go hmoZo dmbo \$m`Xm| Ho$ ~mao _|
~VmZm hmoJm& h_| JmhH$m| H$mo CnmXm| Ho$ {V amo_m{MV H$aZm hmoJm& do Ad`
Am^yfU IarXZm Mmh|Jo&
Ama {H$`m Om MwH$m h, _yb ~mV `h h {H$ AmnH$s {~H$s AN>r
h `m Zht& {H$gr `dgm`r Ho$ {bE CgH$s {~H$s go ~T>H$a Hw$N>
Zht& `h Am_XZr Ho$ {bhmO go g~go _hdnyU MrO h Ama
`h CZ MrOm| _| ^r g~go D$na h Omo A` MrOm| H$mo g^d
~ZmVr h& Am^yfU ~mOma Ho$ ha IwXam `dgm`r Ho$ ApVd
Ama XrKH$mbrZ bm^ g~go A{YH$ g\$b {~H$s Ho$ n[aUm_m| na
hr {Q>Ho$ hmoVo h&
do AmJo H$hVo h, hOmam| gmbm| VH$ ^maVr` Am^yfU {dHo$VmAm|
H$mo {~H$s H$s qMVm Zht H$aZo nS>r& CZoH$ nmg bmIm| JmhH$ Wo
Omo CZHo$ CnmX IarXZo H$s Vrjm H$aVo Wo& {OZHo$ nmg ~oMZo
Ho$ {bE Am^yfU Wo do g\$b `dgm` H$aVo Wo&
A~ Eogr ~mV Zht ahr& ~mOma Ho$ EH$ aUZr{VH$ma Zo AnZr
nhMmZ COmJa Zht H$aZo H$s eVm] na ~Vm`m {H$, {Og ~mV
H$s nhMmZ _| ~hV go IwXam Am^yfU {dHo$Vm Ag\$b aho h dh
`h h {H$ hOmam| gmbm| go ^maVr` Cn^mo$m CZHo$ CnmXm| H$mo
IarXZo _| BNw>H$ Zht aho h ~pH$ CZH$s {M CZ CnmXm| _|
{Z{hV H$o _mb, `m{Z gmoZo _| ahr& CZHo$ AZwgma, A~ Am^yfU
{dHo$VmAm| Ho$ {bE `h Amd`H$ hmo J`m h {H$ do JmhH$m| H$s
{M AnZo CnmXm| _| OJmE `m|{H$ H$o _mb `m{Z gmoZo H$mo
A~ CgHo$ _yb d$n _| IarXZo H$m MbZ ~T> ahm h {OgHo$
{bE aZ Ed Am^yfU CmoJ H$s _XX H$s O$aV Zht ah OmVr&
48
ojH$m| Ho$ AZwgma ^{d` H$s g\$bVm H$s Hw$Or Bg ~mV _| {Z{hV
h {H$ IwXam {dHo$Vm d` go `h nyN>| {H$ dh H$mZ gr ~mV h Omo
JmhH$ H$mo dh IarXZo H$mo o[aV H$ao Omo CZHo$ nmg {~H$s Ho$ {bE
h& _mH}$qQ>J na Am`mo{OV EH$ go{_Zma Ho$ XmamZ EH$ `mV d$m
Zo H$hm, AZoH$ Cn^mo$m dVwAm| Ho$ {bE {H$gr ~mOma gd}jU H$s
O$aV Zht ~pH$ JmhH$m| H$s O$aVm| Ama BN>m H$mo `mZ _| aIZm
Amd`H$ h& g\$b \$_ do CnmX boH$a AmVo h {Oh| XoIZo go
nhbo VH$ JmhH$m| H$mo CZHo$ ~mao _| nVm VH$ Zht hmoVm& Bg ~mV Ho$
gQ>rH$ CXmhaU Ho$ $n _| do Enb Ho$ gh-gWmnH$ Q>rd Omg
H$s g\$bVm H$m CoI H$aVo h& Omg Eogo CnmX boH$a AmE
{OZHo$ ~mao _| JmhH$m| H$mo Hw$N> ^r nVm Zht Wm& A~ iPod, iPhone
Ama iPad AZoH$ bmoJm| Ho$ {bE A{VAmd`H$ dVwAm| H$s gyMr _|
em{_b h Ama ò CnmX A` {V`moJr H$n{Z`m| Ho$ Eogo CnmXm| Ho$
{bE _mZH$ ~Z JE h&
^maV _| IwXam Am^yfU CmoJ {~H$s Ho$ Wm{nV Adgam| na
Cn^mo$mAm| H$s Wm{nV O$aVm| Ho$ {V hr Ho$db OmJH$ ahm
h& BgZo H$^r Bg Xmào go ~mha {ZH$bH$a Zht gmoMm Ama Z hr
AmYw{ZH$ Cn^mo$mAm| H$mo AmH${fV H$aZo hoVw ZE-ZE CnmXm| Ho$
{dH$mg na `mZ {X`m& ew$ _| Bgo `h g_PZm hmoJm {H$ JmhH$godm Ho$ Vma-VarH$m| _| ^r ~hV A{YH$ ~Xbmd Am MwH$m h&
GJEPC
Ho$ H$moR>mar H$hVo h, h_| g_PZm hmoJm {H$ X{Z`m _|
A~ Am^yfU {dHo$VmAm| Ho$ {bE `h Amd`H$ hmo J`m h {H$ do JmhH$m| H$s {M
AnZo CnmXm| _| OJmE `m|{H$ H$o _mb `m{Z gmoZo H$mo A~ CgHo$ _yb d$n
_| IarXZo H$m MbZ ~T> ahm h {OgHo$ {bE aZ Ed Am^yfU CmoJ H$s _XX
H$s O$aV Zht ah OmVr&
XH$mZXmar Ama IarXXmar Ho$ VarHo$ VoOr go ~Xb aho
h& BgZo aZ Ed Am^yfU `dgm` na ^r ^md
S>mbm h& CXmhaU Ho$ {bE hrao H$mo b|& Bg CmoJ
H$s gnyU {H$`m ~Xb MwH$s h& Ohm H$^r
IXmZ AnZo CnmX AZJT> hram| Ho$ `mnmar
H$mo ~oMm H$aVr Wr A~ do grYo `h {~H$s
hrao VameZo Ama H$qQ>J H$aZo dmbo \$_m]
H$mo H$aVr h& AZJT> hram| Ho$ `mnmar
A~ aho hr Zht& {H$`m _| AmJo,
Ohm VameZo Ama H$qQ>J H$aZo
dmbo \$_ nm{be {H$E hram| H$s
{~H$s WmoH$ {dHo$VmAm| H$mo
H$aVo Wo Ama {\$a WmoH$
{dHo$VmAm| go BZH$s
IarX Am^yfU {Z_mVm
H$aVo Wo, dht A~ WmoH$
{dHo$Vm bwm` hmo aho h,
H$maU hram| H$m gH$aU
H$aZo dmbo grYo Am^yfU {Z_
mVm H$mo hr hrao ~oM XoV h, Ama ò
{Z_mVm ^r Am^yfUm| Ho$ WmoH$ {dHo$VmAm|
H$mo Xa{H$Zma H$a AnZo CnmX grYo [aQ>oba
H$mo ~oMVo h& BQ>aZoQ> Ho$ Bg `wJ _| MrO| {Og
Vah ~Xb ahr h Eogo _| `h H$nZm H$aZm H${R>Z
Zht {H$ EH$ d$ Eogm ^r AmEJm O~ AZJT> hram| Ho$
`mnm[a`m| Ama WmoH$ {dHo$VmAm| H$s Vah [aQ>oba ^r Jm`~
hmo OmEJo Ama Am^yfU {Z_mVm d` hr JmhH$m| H$mo CnmX
~oMm H$a|Jo&
bo{H$Z, H$moR>mar `h AmJmh ^r H$aVo h {H$ JmhH$ H$s {M Bg CmoJ
Ho$ CnmX _| ~Zr aho `h gw{Z{V H$aZm Amd`H$ h& {~Zm JmhH$ Ho$
h_ H$moB `dgm` Zht H$a nmEJo- Bg _m_bo _| Bggo H$moB \$H$ Zht
nS>Vm {H$ `dgm` {H$`m H$m H$mZ gm AJ ^mdr h& Ama H$moR>mar Bg
~mV H$s qMVm `$ H$aVo h {H$ JmhH$m| Ho$ {hV Z H$ht ^m{dV hmo OmE&
49
AnZo hram| Ho$

{d Va na
Mm[aV hmoZo na S>r
~oà Ho$ amo_m{MV hmoZo Ho$
~mX Cgo JmhH$m| H$s Amoa go
{_bZo dmbr {V{H$`m _| n>
H$_r {XImB XoZo bJr& bmoJ Mmho Omo
^r H$h|, S>r ~oà Zo JmhH$m| mam hram|
H$s IarX H$mo ~T>mdm XoZo dmbo Cnm` Ho$ Vma
na hrao OS>o hE ^mdZm_H$ _hd Ho$ CnmX
V`ma {H$E Ama Bg Vah hram| H$s _mJ H$mo ~T>m`m&
Eogm Chm|Zo XeH$m| VH$ {H$`m Ama Bg_| Ch| gmbmZm
150 {_{b`Z boH$a 250 {_{b`Z VH$ H$m `` H$aZm nS>m&
CmoJ A~ JmhH$m| H$s AmH$mjm H$mo _hd Zht XoVm& `h ~hV
~S>r JbVr h&
H$moR>mar ~VmVo h {H$ ^maV _| Ohm IwXam Am^yfUm| Ho$ 300,000 go
^r A{YH$ {dHo$Vm h dht Am^yfUm| H$mo g{H$` $n go ~T>mdm XoZo
dmbo {JZVr Ho$ h& dh H$hVo h, CZH$s g`m ~hV WmoS>r h Ama
Omo ^r h do `mXmVa ~S>o ~mS> h& h_mar Amd`H$Vm h _mH}$qQ>J
Ama Mma _| CmoJ H$s ^y{_H$m H$mo g{H$` H$aZm&
ngo H$s H$s_V (d`y \$ma _Zr) A~ ^r _m`Zo aIVr h
_y` gdoXr ^maVr` Cn^mo$mAm| H$s {M OJmZo H$m EH$ VarH$m

h Eogo CnmX V`ma H$aZm {Oh| Cn^mo$m ngo H$s ghr H$s_V H$s
Vma na XoI|& bo{H$Z BgHo$ {bE CmoJ H$mo nhbo `h g_PZm hmoJm
{H$ JmhH$ CnmX Ho$ {bE ghr H$s_V {H$go _mZVo h& CZH$m H$hZm
h, Bg d$ hrao H$s H$s_V H$_mo~oe _mBqZJ \$_m] mam V` H$s OmVr
h& `h V` {H$gr ^r CnmX H$s Wm{nV {H$`m Ho$ CbQ> h&
H$s_V H$m {ZYmaU h_oem JmhH$m| H$s _mJ Ama IM H$aZo H$s CZH$s
50
BN>m na
{Zâ H$aVm
h& Amn H$^r ^r
H$s_Vm| H$mo JmhH$ na
bmX Zht gH$Vo&
H$moR>mar gmoMVo h {H$ n[a^m{fV
_y` {~X na n> $n go {\$Q>
~R>Zo dmbo CnmXm| Ho$ O[aE _mJ Ho$ Va
H$mo V` H$aZo _| gh{b`V hmoJr Ama {\$a
Bggo hram| H$s do H$s_V| {ZYm[aV H$s Om gH|$Jr
Omo JmhH$ MwH$mZo H$s BN>m aIVo h& bo{H$Z h_mao
H$moR>mar Ho$ AZwgma

JmhH$ H$s {M Bg CmoJ Ho$ CnmX _| ~Zr aho `h gw{Z{V H$aZm JmhH$m|
Ho$ {hV gdYZ
Amd`H$ h& {~Zm JmhH$ Ho$ h_ H$moB `dgm` Zht H$a nmEJo- Bg
Ho$ {bE 10 gw`dpWV
`dgm`r-JmhH$ emo hmoZo
_m_bo _| Bggo H$moB \$H$ Zht nS>Vm {H$ `dgm` {H$`m H$m H$mZ
Mm{hE& h_mam `mZ Am{Iar {gao Ho$
gm AJ ^mdr h& Ama H$moR>mar Bg ~mV H$s qMVm `$ H$aVo
JmhH$ na Ho$pV hmoZm Mm{hE& BZ emo
_| Ho$db [aQ>oba Ama ~mS> H$s AZw_{V hmoZr
h {H$ JmhH$m| Ho$ {hV Z H$ht ^m{dV hmo OmE& AnZo hram|
Mm{hE& Bg Vah h_ `h gw{Z{V H$aVo h {H$
Ho$ {d Va na Mm[aV hmoZo na S>r ~oà Ho$ amo_m{MV
emo Ho$ Ho$ _| JmhH$ ah|&
hmoZo Ho$ ~mX Cgo JmhH$m| H$s Amoa go {_bZo dmbr
BQ>aZoQ> Zo nhM H$mo ~T>m`m h
{V{H$`m _| n> H$_r {XImB XoZo bJr&
mam CnbY H$amE OmZo dmbo CnmXm| Ho$ O[aE AnZo JmhH$m| H$mo
b{jV H$aZo H$s Amd`H$Vm h& CZHo$ AZwgma Hw$N> gmb nhbo
AZV OoZo[aH$ S>m`_S> _moeZ A{^`mZ MbmZo dmbo GJEPC
H$s BN>m h {H$ `{X [aQ>ob CmoJ Hw$N> `` H$aZm Ama bJmZm
Mmh| Vmo `mgm| Ho$ EH$ gwYao hE $n H$mo AmO_m`m Om gH$Vm
h& AZV A{^`mZ Zo ~mbrdwS> A{^Zor gmoZ_ H$nya H$mo ~oQ>r,
o{_H$m, nZr, XmoV Ama mo\o$eZb Ho$ $n _| g_mO _| _
{hbmAm| H$s ^y{_H$mAm| Ho$ {Z$nU hoVw AnZm ~mS> E~gS>a
~Zm`m Wm& BZ ^y{_H$mAm| Ho$ {Z$nU _| hram| Ho$ AZoH$ Am^yfUm|
H$m BVo_mb VrH$ $n _| {H$`m J`m Wm&
`h A{^`mZ `mdgm{`H$ $n go g\$b Zht hAm bo{H$Z lr
H$moR>mar H$m _mZZm h {H$ Bggo BSQ>r Zo ~hV Hw$N> grIm Ama
`{X Bgo gwYao hE $n _| Mbm`m OmE Vmo Bggo JmhH$m| Ho$
gmW _hdnyU g~Y ~ZmZo _| BS>Q>r H$mo _XX {_boJr& do H$hVo
h, g~ Hw$N> Bg ~mV na {Zâ H$aVm h {H$ [aQ>ob BS>Q>r Omo
gmoMVm h dh b` VH$ nhMo ^r& `{X Ch| bJVm h {H$ do
AnZo bH$s b_r A{^`mZ Ho$ O[aE ~{T>`m H$a gH$Vo h Vmo
GJEPC CZH$m g_WZ H$aZo H$mo V`ma h& JmhH$m| VH$ nhMZo
Ho$ {~OZog-Qy>-H$`y_a Ho$ CZHo$ `mg _| h_ {H$gr ^r
O[aE CZH$s ghm`Vm H$aZo H$mo V`ma h&
O~{H$ ^maVr` aZ Ed Am^yfU CmoJ {H$`m nmBnbmBZ
Ho$ AZoH$ {hgm| _| CoIZr` $n go g\$b ahm h CgH$s
`h g\$bVm Am{Iar {gao Ho$ JmhH$m| VH$ Zht nhM nmB h&
`dgm`r go `dgm`r Ho$ ~rM Ho$ gX^ _| Vmo h_Zo ~hV h{gb
{H$`m h bo{H$Z JmhH$m| VH$ h_mar nhM n`m _O~yVr Ho$ gmW
Zht ~Zr h& AJV _| h_Zo IIJS `mnma XeZr H$m Am`moOZ
{H$`m Wm Omo {H$ X{Z`m H$s VrZ g~go ~S>r Xe{Z`m| _| h& h_Zo
OZdar _| {goMa emo {H$`m Omo {deof ~mOma nmZo _| VWm hmB
ES> {V^m{J`m| Ho$ gmW CZHo$ C{MV g_H$jm| go gnH$ H$aZo _|
Mmho do AnQ>r_ hmo AWdm S>mCZQ>r_, g\$b ahm ........; Ama
A` AZoH$ `mdgm{`H$ emo {H$E Omo BS>Q>r Ho$ AXa AZoH$
pIbm{S>`m| H$mo b{jV Wo& h_| Ama ^r JmhH$ C_wI `mdgm{`H$
emo H$s Amd`H$Vm h&
_mH}$Q>a H$hVo h {H$ BQ>aZoQ> Zo Cn^mo$mAm| Ho$ Am^yfUm| _| {M

H$mo OJmE aIZo Ho$ {bE EH$ _M XmZ {H$`m h& dobg Am\$
A_o[aH$m (JA), Omo A_o[aH$m Ho$ Am^yfU {dHo$Vm H$m EH$ am>r`
`mnma gJR>Z h, dobar B\$m_}eZ g|Q>a (JIC) H$m gMmbZ H$aVm
h, Omo EH$ {V~ Cn^mo$m {ejm gJR>Z h& `h nmpbJ
ZnemQ> {dkmnZ Ogo A{^`mZ MbmVm h, Omo Hw$N> {deof Adgam|
na Am^yfU nhbo Cn^mo$m Ho$ gdm}m_ \$moQ>mo H$mo nwaH$V H$aVm
h& BgHo$ gmW `h ApQ>_oQ> monmoOb H$Q>oQ> ^r MbmVm h, Omo
Cn^moVmAm| H$mo AnZr H$hm{Z`m| H$mo {bIZo Ama gmPm H$aZo Ho$ {bE
o[aV H$aVm h&
BQ>aZoQ> Ho$ `moJ dmbo BZ A{^`mZm| Ho$ Xmo bm^ h, CZH$m nyao
A_o[aH$m _| H$_ IM _| gma hAm Ama Chm|Zo Cn^mo$mAm| H$mo
am>r` nhMmZ {Xbm`m& BZ A{^`mZm| Zo Bg gXoe H$mo ^r T> {H$`m
{H$ hrao, aZ VWm Am^yfU Jhao ^mdZm_H$Vm Ho$ VrH$ ^r hmoVo
h& AmO Ho$ Xma _| `h nyar X{Z`m Ho$ Cn^mo$mAm| Ho$ gmW OwS>m h&
BQ>aZoQ> H$m ^maV _| AmÒZH$ gma hAm h Ama `h H$B H$ma
Ho$ ^maVr` CnmXm| Ho$ Xoe â Ho$ Cn^mo$mAm| VH$ gma Ho$ {bE
EH$ {dH$n _mJ ~Z J`m h& aZ VWm Am^yfU CmoJ BQ>aZoQ> H$mo
`mnma Ho$ EH$ _mJ Ho$ $n _| H$m\$s Yr_r {V{H$`m XoVm ahm h&
CmoJ {deofk H$hVo h {H$ H$B H$ma Ho$ {dH$n h, na A~ AmH$m_
H$ H$X_ CR>mZo H$s O$aV h& Xoe â Ho$ Jha Xmao na OmZo Ho$ ~mX
EH$ Am^yfU {Z_mVm H$m H$hZm h {H$ Xoe â Ho$ {dHo$Vm {JamdQ> XO
H$a aho h& `h EH$ g_`m h& H$moR>mar H$hVo h& do H$hVo h {H$ hmb
_| O~ do BS>Q>r \$moH$g Jwn go ~mVMrV H$aZo X~B H$s `mm na Wo
Vmo Chm|Zo XoIm {H$ Ohm EH$ aZ Ama Am^yfU emo _| AmJVwH$m| H$s
VwbZm _| XeZH$Vm A{YH$ Wo, dht nmg Ho$ EH$ AmQ>mo_mo~mBb emo
_| Cn^mo$m IMmIM âo Wo&
H$moR>mar H$hVo h, `h Omo ^r h h_ hr H$aVo h& h_| gm_w{hH$ $n go
VWm erK Hw$N> H$aZm hmoJm& g_` {ZH$bVm Om ahm h Ama h_ Eogo
CnmXm| {OZH$m AmH$m_H$ $n go {dkmnZ hmo ahm h, CgZo nrN>o ah
OmEJo& h_ AnZr O_rZ Imo aho h Ama A^r hr Hw$N> H$aZo H$m d$
h& H$b em`X H$m\$s Xoa hmo MwH$s hmoJr& I D E X
51
Industry News
Savvy Consumers
Will Challenge Indian Jewellery Retail in Future Growth
he Indian consumer will become much more

knowledgeable about the industrys product and this
will challenge the industry and constitute an important
factor in its growth and working. Most of the industrys
growth will come from the unorganized segment of the
Indian gem and jewellery industry, which constitutes
some 94 percent of the market share. This was stated
by Ashok Minawala, former president of the All India
Gems & Jewellery Trade Federation (GJF) at the Gems &
Jewelry conference organized by the Federation of Indian
Chambers of Commerce & Industry (FICCI) in Mumbai
in November.
The conference was intended as a bridge-building exercise
between the banking and gems and jewelry industry that
would help plot a course for the industry future growth.
This program is intended to help the banking and the
gem and jewelry industry have greater clarity in solutions
to the issues and challenges ahead. Every effort is being
made towards understanding the business framework of
the industry and we are willing to take on the responsibility
to lead banks in India in this sector, said Stephane
Vinogradoff, Managing Director, Antwerp Diamond Bank.
Devang Rawal, President and Regional Business Head of
the Yes Bank, presented highlights of a knowledge paper
which included the various issued and challenges being
faced by the Industry. This knowledge paper has the
essence of what is required to make the gem and jewelry
industry grow and to create benchmarks, he observed.
Diatrends
Gem & Jewellery Export Promotion Council (GJEPC)

Chairman Rajiv Jain noted that the Indian industrys climb
up the processing value chain with many innovations,
was key to establishing a promising future. Nirupa Bhatt,
Gemological Institute of America (GIA) Managing
Director for India and the Middle East, observed that it
was necessary to focus more on the opportunities rather
than the roadblocks ahead. She said the recently concluded
agreement between the the GJEPC and the GIA would
enable the latters education programs to spread ethical
business practices and programs that would change the
gem and jewelry landscape in India.
Mehul Choksi, chairman of FICCIs gem and jewelry
committee, stated that brands had helped add value to
the product in the consumers mind. He noted that trust
between the retailer and consumer was a key element in
future success. I D E X
52
IDEX MAGAZINE INDIA RETAIL| NO 14: INDUSTRY NEWS
Gitanjali
Strengthens Retail Muscle, China Penetration With Acquisition
itanjali Gems, the vertically integrated diamond

processing and jewellery retailing giant, strengthened
its retail muscle and China market penetration through
the acquisition of Hong Kong-based jewelry distributor
Crown Aim in December.
The acquisition was through Gitanjalis wholly-owned
subsidiary Aston Luxury Group, which was itself created
as the umbrella company for Gitanjalis brand distribution
in the US.
Apart from distributing jewelry in China, Japan, the US,
the Middle East and Europe, Crown Aim has a jewelry
manufacturing unit in China and plans to set up retail
operations in that country.
Crown Aim also has a 100 percent distribution subsidiary,
Alfred Terry Holding Limited and a step-down subsidiary,
Alfred Terry Limited in London for the distribution of
jewelry in the UK. The 45-year-old British firm has a strong
presence with both chain stores and independents in the

UK, servicing nearly 2,000 stores.
From being purely a diamond processing company, the
Gitanjali group has expanded downstream through jewelry
manufacture, distribution and retail all the way to acquiring
its own brands. The expansion has come mainly through
the mergers and acquisitions route.
In 2010, Gitanjali acquired a 90 percent stake in Milanbased Giantti Italia SRL along with the DIT Group, which
owns a raft of brands including Stefan Hafner, Porrati,
Nouvelle Bague and Io Si. That same year, it bought out
the 50 percent shareholding of its Italian partner Morellato
& Sector in the Indian joint-venture Morellato India Pvt.
Ltd. for an undisclosed sum, making it a wholly-owned
subsidiary.
Gitanjali owns the Gili, Nakshatra, Asmi, Sangini and
DDamas brands in India among others. I D E X
53
Indian JEWELLERY Manufacturers,

European Retailers Wrap Up Successful Meet
he Indo-Europe Jewellery Summit, an initiative

that brought together a group of European
jewelry retailers and wholesalers with a group of Indian
manufacturers was held in Mumbai in November.
Organized by the Gem & Jewellery Export Promotion
Council (GJEPC), the initiative is part of a continuing effort
to help the Indian gem and jewellery export production
industry successfully penetrate markets around the world.
There have been similar GJEPC-organised buyer-seller
meets for the US, Russian and CIS markets, while Indian
manufacturers have travelled to China to conduct similar
meets there. This is the third Indo-Europe initiative.
GJEPC Vice Chairman Sanjay Kothari said that a measure
of the success of these initiatives was the repeated
participation of Indian manufacturers. Participation is an
expensive affair, he observed, the Indian manufacturers
bear the travel and stay costs for the retailers and that
many of them repeatedly do so testifies that the initiative is
indeed bearing fruit.
The format of the initiative gave all the participants one
meeting with each other where both sides got to know each
other and the retailers got to see what sort of product was
on offer. The retailers were then allowed to specify which
manufacturers interested them and factory visits to each of
the selected firms was then arranged.
Andrea Seng, product manager for the Home Shopping

Europe (HSE 24) television retail network, said that though
the network had bought colored gemstones and some
jewelry from Jaipur before, it had never before come to
India to source the product. She stated that the network was
willing to participate in future such initiatives and willing to
come back to India by themselves to source product.
Priyanshu Shah of Asian Star Jewellery, one of the
participating firms, said that this was the third such event
his firm had participated in and that they were able to
work with six new retailers from Europe this time. This,
he observed, was remarkable because Asian Star was a
regular participant in all the major global trade shows and
had client outreach efforts of its own and had yet not
connected with these six clients before.
Filip Van Laere, CEO of Diamond Dreams@Work, the
GJEPCs European organiser for the initiative, observed
that the three Indo-Europe initiatives had connected Indian
manufacturers and retailers from 10 European countries so
far. The retailers tapped represented a potential of some
2 billion (Rs.13,786.8 crore) and represented 4,000 points
of sale. Despite its economic woes, he observed, Europe
represented a market where the per capita income was
$40,000 (Rs.20.7 lakhs), which represented considerable
purchasing power. This underlines the importance of this
initiative. I D E X
Filip Van Laere (left) GJEPC Chairman Rajiv Jain (centre) and Kapil Nevatia (right) light the lamp to get the meet under way.
54
Indo-China Buyer-Seller
Meet In Beijing
three-day Indo-China buyer-seller meet was held

in Beijing in November. Organized since 2007
by Indias Gem & Jewellery Export Promotion Council
(GJEPC), the continuing initiative is aimed mainly at
developing joint ventures between Indian diamond- and
jewelry manufacturers and Chinese jewelry manufacturers,
wholesalers and retailers. It is supported at the Chinese end
by the Shanghai Diamond Exchange (SDE).
The joint venture route and the partnership with the
SDE will help Indian companies overcome the high tariff
barriers to finished jewelry imports into China. Diamonds
directly entering the SDE from overseas are exempted
from import duty, value-added tax and consumption tax.
All diamonds traded in the SDE are exempted from valueIDEX MAGAZINE INDIA RETAIL| NO 14: INDUSTRY NEWS
added tax. For diamonds channelled through the SDE into

the domestic market, go through duty-free, but attract a
reduced value-added tax of 4 percent. Going through the
SDE also enables a reduction in consumption tax to just 5
percent. The tax is also not collected until the actual retail
transaction.
The 2011 initiative, the 5th so far, had 28 Indian diamond
and jewellery manufacturers participating. GJEPC
Chairman Rajiv Jain observed that of the total gem and
jewellery exports of $43 billion (Rs.2,22,568 crore) from
India, 23 percent was exported to Hong Kong, thereby
signifying the importance of robust trading relations
between India and China. This underlines the importance
of this initiative. I D E X
55
Trend Report
Slice JEWELLERY
The Hottest Trend in JEWELLERY
Slice JEWELLERY
To some they are slices of carbon, to others, diamond
slices are slivers of heaven. Diamond slice jewelry features
slices of diamonds that are typically quite flat with either
no or very few facets that create subtle sparkle. Slices do
not, however, stop at diamonds. Colored gemstone slices
are bursting into jewelry cases with bold pops of color.
Loved for their organic and rugged appearance, sliced
diamond and gemstone jewelry is currently one of the
most sought-after jewelry trends. Today, many designers
are using slices with ideal-cut or highly-faceted diamonds or
gemstones for a look that has texture mixed with modern
appeal.
Jewellery by Christian Tse
Slice Trend #1: Big earrings!
56
One of the freshest ways to wear slices is in the form

of earrings. When a woman wears earrings, they always
draw attention to her face. Slices will undoubtedly get her
noticed! Big gemstone earrings allow women to wear a big
shot of color without a big price tag.
IDEX MAGAZINE INDIA RETAIL | NO 14: TREND REPORT
Jewellery by Susan Foster
Slice Trend #2: Layering stones on top of

each other!
A clever way to use a diamond slice is by setting it atop a
gemstone, smaller diamonds or interesting metal textures.
The facets of the slice diamond allow other colors and
textures to shine through.
Why Slice JEWELLERY?

Slice jewelry pieces are a hit among consumers because,
quite simply, they are visually appealing. The pieces are
different from the standard diamond and gemstone cuts
they are used to seeing. The opaqueness of most of the
stones allows light and skin to show through.
When diamond slices are incorporated into earrings, they
are like looking glass and capture the curiosity of anyone
who sees them.
Designers are also taking advantage of this unique feature
by setting gemstones or diamonds underneath a piece of
slice jewelry. Any way you slice it, this jewelry trend will be
a fabulous wardrobe addition!
Slice Trend #3: Mixing polished diamonds

with diamond slices!
There is a modern look that comes from mixing organic
diamond or gemstone slices with polished diamonds. While
new and noteworthy now, this trend is destined to become
a modern classic!
IDEX MAGAZINE INDIA RETAIL | NO 14: TREND REPORT

Jewelry Information Center, the consumer education arm of Jewelers of
America, educates consumers about the freshest trends in jewelry designs.
Learn more about this trend and other trends at by visiting their website,
www.JIC.org.
57
ADVERTORIAL
Colour Grading D-to-Z Diamonds

For nearly 60 years, describing the colour of colourless diamonds
has been based on the GIA-invented scale, starting with D and
going down to Z. Whether in Mumbai, Minneapolis or Milan, this
colour grading alphabet is the common language used by all
dealers and retailers around the world.
While the scale is simple to express, the colour grading process is
actually quite complex.
First, the differences between colours are so minute that most
people would find it difficult, if not impossible, to tell the
difference between diamonds of two or three varying grades.
Second, diamonds are colour sponges they attract light from
their surroundings, so someone wearing light clothing may see
the same diamond as being better than
someone wearing dark clothing. Third,
the surrounding light can make a big
difference. Incandescent light bulbs can
make diamonds look yellow, so dealers
always use fluorescent lights, which give a
truer reading of the colour.
Because of these complexities, diamond
colour can only be accurately graded in a
laboratory where everything is exactly the
same, including lighting, viewing angle,
master stones and the seating position of
the graders themselves.
The procedure of colour grading
diamonds has remained consistent over the
years. A diamond is placed table down, if
its a round brilliant. Fancy shapes at the
lower end of the color scale are graded both table up and table
down, with the grade being the average between them. Stones of Z
color are graded face up to determine whether or not the diamond
qualifies for the fancy color scale.
The diamonds are compared against a set of carefully assembled
master stones of known grades. Master stones, however, have
to be exactly at the border between colours. For example, the
colour of an H master will be at the border with G colour, so if
a diamond has slightly less colour, it will be assigned the G grade.
If it is the same, or has slightly more colour, it will be assigned
the H grade.
Instead of trying to match the diamond to a single colour master
stone, GIA has found that it is easier to bracket the diamond
between two masters, which allows the grader to more quickly
narrow the potential grade. Once the grader has determined the
closest master stone, he or she places the diamond on both sides
of the master (but never touching), because one eye may perceive
colour differently than the other.
For example, if a diamond appears to have slightly more colour
when placed left of the master and noticeably less color than the
master when held to the right, it will receive a higher grade. But
when a diamond to the left appears to have slightly more colour,
with the some or slightly less colour on the right, it will receive the
same grade as the master, which is always at the extreme upper
range of the colour it represents.
Fancy shapes are more difficult to grade because they can show up
to three different amounts of colour, depending upon how they are
viewed. GIA has found that the most representative colour can be
found when the stone is set face down at a
45-degree angle to the grader because, in this
position, it exhibits neither the most intense
colour, or the most washed out areas.
As you can see, a diamonds final colour
grade actually represents a range of color
within a single grade.
The best practices GIA uses to colour grade
diamonds have been refined over time in
response to on-going gemological research
and advances in technology. But the grading
scale -- the spacing of the color grades
has not changed since the Institute created
it some 60 years ago. Other reputable labs
have adopted the GIA grading system over
the years, making it the universal language
for diamonds. However, GIA invests large
amounts of money and expertise is maintaining the most consistent
grading standards between all of its international labs.
Gem and Jewellery Resources in India
GIA grading reports and professional training are essential tools for
enhancing consumer trust in the retail associates expertise. As Indias
market for diamonds and gems continues to dramatically grow, so too
have the resources available to jewellery professionals. They include:
GIA Laboratory GIAs laboratory in India, located in Mumbais Bandra
Kurla Complex, grades D-Z color diamonds ranging from 0.15 carats
to 1.99 carats. The laboratory is also a take-in center for diamonds in
larger sizes and other colors, as well as coloured stones and pearls, which
are routed to GIA laboratories worldwide for servicing. The Mumbai
laboratory also offers laser inscription and diamond sealing services.
GIA tests every diamond it grades for laser drilling, fracture
filling, surface coating, artificial irradiation, high pressure/high
Grading reports are not issued for

diamonds that have undergone
unstable treatments, such as coating
or fracture filling. And, while grading
reports may be issued for diamonds
that have been laser drilled, artificially
irradiated or HPHT processed, these
treatments are prominently disclosed
on the report.
GIA Professional Training GIAs
Mumbai campus offers a wide variety
of courses and instructional formats
to meet the diverse needs of Indias
jewellers and manufacturers. These formats range from on-campus
programmes, lab classes, skill-building seminars and workshops, to
customised corporate programmes, and online learning designed to
minimize disruption to work schedules.
The Graduate Gemologist program teaches students how to identify
hundreds of common and unusual gemstones and detect the
latest treatments and synthetics. Students practice time-honoured
identifying and grading techniques using a microscope, polariscope,
spectroscope, and other professional gemological equipment. The
hands-on, action-oriented approach provides a solid balance of
both technical knowledge and practical skills necessary to work
throughout the industry.
The Graduate Gemologist diploma

program provides the grading and
identification skills to become a
buyer, appraiser, retailer, and senior
professional across the entire gem and
jewelry industry.
GIA course are continually updated to
ensure the most timely and accurate
information and are taught in local
languages throughout India.
To learn more about the GIA
Laboratory services and training
programmes available to jewellers
throughout India, visit www.giaindia.in
or email lab.giaindia@gia.edu
Colour is so critical in the valuation of
diamonds that diamond manufacturers
must estimate the resulting colour from the rough when calculating
for the best yield. The octahedron pictured at top weighs 15.98 ct,
while the the macle weighs 22.33 ct. the faceted diamonds, ranging
in color from D (the round on the left) to K (the oval) all weigh
between 3.00 and 3.50 ct. Photo by Robert Weldon.
Shown here are the various boundaries at which colours
transition off the D-to-Z color scale, as well as terminology
associated with the scale. After K, reports note a word
description and a letter grader for brown diamonds and
a word description only for grays. Yellow, brown and
gray diamonds transition to the colored diamond color
grading terminology after Z; all other colors transition at G.
ADVERTORIAL
temperature (HPHT) and chemical

vapor deposition (CVD) to detect
known treatments and separate natural
diamonds from synthetics.

IDEX India Retail January 2012

Uploaded by

Document Information

Original Description:

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

IDEX India Retail January 2012

Uploaded by

Copyright:

Available Formats

Jan 12

The Need To Excite

Rebranding & Re-igniting

Savvy Consumers Will

Special offer for GJF members

JUNE 1st 2011

4,50,000 diamonds on offer online.

Round 1/4 (0.23-0.28)

Round 3/8 (0.38-0.44)

Round 1/2+ (0.50-0.69)

Round 0.90 (0.90-0.99)

Round 3/4 (0.70-0.89)

Round -1/2 (0.45-0.49)

Round 1/3 (0.29-0.37)

Round 1/5 (0.18-0.22)

Hurry! Offer available only

Guaranteed Diamond Transactions

Call us today at 022-66332187

magazine india retail

05 FROM THE EDITORS DESK

Managing Director Yaron Barzilay

Anish Kuriakose, Osnat Davidov, Avivit Morhaim, Yaron Barzilay

27 DIAMOND RETAIL BENCHMARK

hram ~mOma H$s [anmoQ>

Boris Mandelis (RD Media group)

Published by Yaron Barzilay for IDEX Online S.A

IDEX MAGAZINE INDIA RETAIL| NO 14

An Idea & Excitement Thats All

India, which began consuming diamonds only relatively

The trouble is, diamonds, gemstones and jewellery

That idea has kept the diamond and diamond jewellery

IDEX MAGAZINE INDIA RETAIL| NO 14: EDITOR

Something needs to be done to get the consumer excited

Exchange Rate, Cautious Mood

aution and uncertainty rule the Mumbai diamond

shipment of rough diamonds from Zimbabwes Marange

IDEX MAGAZINE INDIA RETAIL | NO 14: MARKET REPORT

MUMBAI DIAMOND TRADING IN DECEMBER

Good demand for Top colors VS-SI.

Overall demand & prices will remain soft.

Very good demand for white SI & piqu

Demand & prices will remain firm. Some

Fair demand for Top colors VS-SI & white

Overall demand & prices will remain soft.

Good demand for piqu goods.

Demand & prices will remain soft.

Good demand for piqu goods.

Demand & prices will remain soft.

Fair demand for SI1+ & piqu goods.

Overall demand will remain low, prices will

Fair demand for SI1+ & piqu goods.

Overall demand will remain low, prices will

Good demand for VS-SI goods.

Demand is likely to improve. Prices will

Fair demand for VS-SI goods.

Overall demand & Prices will be stable.

Good demand for VS-SI/J+ col.

Demand & Prices will be stable.

Good demand for +0.90 carat SI+/F-J col.

Demand & prices for VS-SI /+0.90 cts. will

Very good demand for VS & SI/F-M col.

Overall demand will be stable, prices will

Fair demand for SI-I2/G-K colors.