idex india retail, march 2012

8/2/2019 IDEX India Retail, March 2012

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March 12

MARKET

REPORT

Despite ReducedDemand, Shortages KeepDiamond Prices Firm

INDUSTRY

NEWS

New De Beers SystemAllows Ongoing ClientChanges

SPECIAL

REPORT

Wedding RingsReplacing TheMangalsutra

DIAMOND

RETAIL

BENCHMARA price list to assure yocustomers

Looking At More StableDiamond Prices, Steady

Availability This Year



TRADE SHOW FOR JEWELRY AND WATCHES

FEBRUARY 22 – 25, 2013

MESSE MÜNCHEN INTERNATIONAL

INHORGENTA.COM



4 IDEX MAGAZINE INDIA RETAIL| NO

magazine india retail

05 FROM THE EDITOR’S DESK

Coping With Product Change Even As Diamond

Prices Stabilize

06 MUMBAI DIAMOND MARKET

REPORT

Despite Reduced Demand, Shortages Keep Diamond

Prices Firm

10 SPECIAL REPORT

Wedding Rings Replacing The Mangalsutra

21 RETAIL ETC

27 DIAMOND RETAIL BENCHMARK

34 COVER STORY

Looking At More Stable Diamond Prices, Steady

Availability This Year

54 INDUSTRY NEWS

DTC’s New System Allows Ongoing Changes In Client

List

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M A R C H 2 0 1 2VOL. 1 No. 16

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 BedisALEs MANAGERs

Anish Kuriakose, Osnat Davidov, Avivit Morhaim, Yaron Barzilay

PRODUCTION & CIRCULATION Helena Dorsht

ACCOUNT MANAGER Rinat Oz

ART DEPARTMENT

GRAPHIC DEsIGNERs

Boris Mandelis (RD Media group)

Tera Kaur (RD Media group)

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IDEX Magazine - India Retail is published in India by Idex Online S.A.. Reprintsof 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 ortransmitted 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.

CONTENTS

MARCH



Editor

IDEX MAGAZINE INDIA RETAIL| NO 16: EDITOR

lanning one’s jewellery business has been something

of a nightmare for some time now. Gold prices rst

shot through the roof and then oscillated wildly. And last

year, diamond prices surged – the IDEX polished diamond

price index rose 17 percent ( visit www.idexonline.com ). Short-

term plans with correspondingly reduced raw material

purchases were the only way to go for many.

The worst part of the price uncertainty is that customers

have no clear idea of the value of the industry’s product.

The uctuations have made many cut back on their jewellery

purchases overall. In fact, in many instances, jewellery

retailers have said that it has only been the obligatory bridal

jewellery purchases that have kept them aoat over most

of last year.

The jewellery retail industry cannot survive on notional

social obligations only. These can change completely all

too soon and custom could evaporate all of a sudden – particularly with a younger generation that doesn’t feel the

same obligation to buy gold or jewellery that the older set

have felt. The only guarantee of long-term success for the

industry is to get consumers to highly regard jewellery and

keep their interest to purchase the product.

In order to achieve this, the industry has to rst have a fair

semblance of pricing stability in order to let consumers set

a value to its product. Today’s uncertain global economic

outlook has got consumers cutting back on jewellery

buying and has put the brakes on the unbridled rise in

diamond prices that took place last year. Yet because the

Indian diamond processing industry, which drastically

cut production capacity after the 2008 global slowdown,

has been unable to rebuild it to pre-2008 levels, there are

shortages of polished diamonds in the market that havekept prices relatively rm.

Suddenly, the industry has relative pricing stability for

diamonds and consumers have the necessary time to

mentally set a value to them. Stable-priced diamonds might

be just the thing this year for the jewellery retail industry to

regain some much-needed consumer condence.

But while diamonds show signs of settling into a relatively

stable slot in terms of price, social changes in the country

are driving some completely unprecedented consumer

preferences. The mangalsutra, hitherto considered anunshakeable Indian social icon, is suddenly under threat

as younger Indians opt for the more international wedding

band – something that both bride and groom can wear to

show as a sign of commitment.

To capture the imagination – and wallet - of a changing

society, the jewellery retail industry needs to quickly

leverage the price stability that diamonds are likely to offer

with a rapidly evolving product. idEX

Coping With produCt ChangE EvEn

as diamond priCEs stabilizE

by VINoD KurIyAN

p



6 IDEX MAGAZINE INDIA RETAIL | NO 16: MARKET REP

MUMBAIDIAMOND MARKET

REPORT

by VINAY PAREKH

DEsPITE REDUcED DEMAND, shORTAgEs

KEEP DIAMOND PRIcEs FIRM

espite an increasingly robust US market recovery,

fears about Europe as well as the general economic

uncertainty worldwide have kept diamond demand subdued

for some time now. Added to this is the fact that rough

diamonds from Zimbabwe’s Marange elds have been

coming onto the market at the rate of almost a millioncarats a month. Most diamond dealers have been expecting

polished prices to drop by between 10- and 15 percent.

However, except for a small correction of between 2- and

5 percent since the beginning of the year, diamond prices

have remained largely unchanged.

This is attributed to the fact that the Indian diamond

industry has not yet recovered its pre-2008 production

capabilities and there are shortages of polished diamonds

in almost all sizes and categories. With these various factors

all counterbalancing one another, many industry watchers

think that diamond prices will not change much over the

course of the next few months and instead stay within a

narrow range. Prices of fancy shapes, however, show a rmupward trend.

Given the market uncertainty and the recent imposition

of a 2 percent customs duty on the import of polished

diamonds, it was also apparent that Indian diamond dealers

wouldn’t be buying polished diamonds heavily at the

February Hong Kong show.

IDEX

D



IDEX MAGAZINE INDIA RETAIL | NO 16: MARKET REPORT

-0.01 (-2 ) Fair demand for SI & piqué goods. Overall demand will be very low. Prices will

remain soft. Goods will be available in most of

the clarities.

-0.02 (+2-6.5) Very good demand for white SI & piqué

goods.

Good demand for Top colors VVS-SI goods.

Fair demand for white VVS-VS goods.

Demand will remain stable.

Prices may remain relatively firm.

0.03-0.07 (+6.5-11) Fair demand for Top colors VS-SI & white

SI2-piqué goods.

Overall demand & prices will remain soft.

6.5-8 sieve will be the most required sieve.

0.08-0.14 (+11-14) Good demand for SI2-piqué goods.

Fair demand for VVS-VS/J+ goods.

Demand & prices will remain stable.

Shortages in piqué goods will be seen.

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

Fair demand for piqué goods.

Stable demand will be seen with some

pressure on the prices.

0.50 (1/2) Good demand for VS-SI/J+ goods.

Fair demand for I1/I2 goods.


0.75 (3/4) Good demand for +0.90 cts. SI+/F-J col.

Fair demand for I1-I2/J+ goods.

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

Will remain firm. Shortages will be seen for+.90 cts.

1.00 (4/4) Very good demand for SI & piqué / D-J col.

Good demand for VVS-VS/F-M col.

Overall demand will be stable, prices will be

under pressure. Strong demand for lower

colors will be seen.

0.15-0.17 (+14-15.5) Good demand for SI2-piqué goods.

Fair demand for VVS-VS/J+ goods.


Shortages in piqué goods will be seen.

0.18-0.22 (1/5) Fair demand for SI1+ & piqué goods. Overall demand will remain low, prices will

be soft.

0.23-0.29 (1/4) Fair demand for SI1+ & piqué goods. Overall demand will remain low. Shortages in

piqué goods will be seen.

0.40 (3/8) Good demand for VS-SI goods.

Fair demand for piqué goods.

Stable demand will be seen with some

pressure on the prices.

+3.00 Fair demand for VS-SI/G-L col. Overall demand & prices will remain soft.

MUMBAI DIAMOND TRADING IN FEBRUARY

Size in Carat(Sieve)

Comments Forward Call



IDEX MAGAZINE INDIA RETAIL | NO 16: MARKET REPORT

\$adar _mh _| _wå~B© H$m hram ì`mnma

-0.01(-2 ) SI VWm {nH$ _mbm| H$s AÀN>r _m§ J& Hw$b {_bmH$a _m§ J H$m\$s H$_ ahoJr& H$s_V _| Z_u ~Zr aho Jr& A{YH$Va Šb¡ [aQ>r _| _mb CnbãY ah| Jo&

-0.02 (+2-6.5) SI VWm {nH$ _mb H$s H$m\$s AÀN>r _m§J& Q>m°n H$bg© VVS-SI _mb H$s _m§ Jm| H$s AÀN>r _m§J& g\o$X VVS-VS _mb H$s AÀN>r _m§J&

_m§J pñWa ~Zr aho Jr& H$s_V AnojmH¥$V _O~y V ah gH$Vr h¡&

0.03-0.07 (+6.5-11) Q>m°n H$bg© VS-SI d g\o$X SI2- {nH$ _mb H$s AÀN>r _m§ J&

Hw$b {_bmH$a _m§ J VWm H$s_Vm| _| Z_u ~Zr aho Jr&6.5-8 grd H$s g~go A{YH$ _m§ J aho Jr&

0.08-0.14 (+11-14) SI2- {nH$ _mb H$s AÀN>r _m§J&VVS-VS/J+ _mb H$s AÀN>r _m§ J&

_m§J VWm H$s_V| pñWa ~Zr ah| Jr& {nH$ _mbm| _| H$_r {XImB© n‹ S>oJr&

0.30 (1/3) VS-SI _mbm| H$s AÀN>r _m§J& {nH$ _mb H$s AÀN>r _m§ J&

H$s_Vm| na Wmo‹ S>m-~hþ V X~md Ho$ gmW _m§ J _| pñWaVm {XImB© n‹S>o Jr&

0.50 (1/2) VS-SI/J+ _mb H$s AÀN>r _m§ J&I1/I2 _mb H$s AÀN>r _m§J&

_m§J VWm H$s_V| pñWa ah|Jr&

0.75 (3/4) +0.90 cts. SI+/F-J col H$s AÀN>r _m§J&I1-I2/J+ _mb H$s AÀN>r _m§J&

VS-SI /+0.90 H$s _m§ J VWm H$s_V| _O~y V ~Zr ah| Jr& +.90 cts. H$s H$_r {XImB© n‹ S>oJr&

1.00 (4/4) SI VWm {nH$/D-J col. H$s H$m\$s AÀN>r _m§ J&VVS-VS/F-M col. H$s ~ohVa _m§J&

Hw$b {_bmH$a _m§ J pñWa aho Jr, H$s_V na X~md ~Zm aho Jm& bmoAa H$bg© H$s H$m\$s _m§J XoIr OmEJr&

0.15-0.17 (+14-15.5) SI2- {nH$ _mb H$s AÀN>r _m§ J&VVS-VS/J+ _mb H$s AÀN>r _m§ J&

_m§J VWm H$s_V| pñWa ~Zr ah|Jr& {nH$ _mbm| _| H$_r {XImB© n‹ S>oJr&

0.18-0.22 (1/5) SI1+ VWm {nH$ _mb H$s AÀN>r _m§ J& Hw$b {_bmH$a _m§J H$_ aho Jr VWm H$s_Vm| _| Z_u ahoJr&

0.23-0.29 (1/4) SI1 VWm {nH$ _mb H$s AÀN>r _m§ J& _m§J VWm H$s_V| pñWa ~Zr ah|Jr& {nH$ _mbm| _| H$_r {XImB© n‹S>o Jr&

0.40 (3/8) VS-SI _mb H$s ~ohVa _m§J& {nH$ _mb H$s AÀN>r _m§ J&

H$s_Vm| na Wmo‹ S>m-~hþ V X~md Ho$ gmW _m§ J _| pñWaVm {XImB© n‹S>o Jr&

+3.00 VS-SI/G-L col. H$s AÀN>r _m§J& Hw $b {_bmH$a _m§ J VWm H$s_V| Za_ ~Zr ah| Jr&

AmH$ma H¡$aQ> _| (grd)

{Q>ßnUr \$m°adS>© H$m°b



ocial mores in India are rapidly changing and along

with them, many icons of Indian society are being

replaced by more global symbols. The mangalsutra is one

of these icons now being elbowed aside and replaced by

the globally ubiquitous wedding ring.

“The way love is expressed has changed considerably in

India,” said Colin Shah, managing director of Kama

Schachter, the Rs.500 crore jewellery manufacturing and

distribution joint venture between Kama Jewellery andDe Beers DTC Sightholder Leo Schachter Diamonds.

“Today, the bride and groom shop for their wedding

jewellery independently. And what they want, is not what

was traditionally bought for weddings. Practicality is a

prime requirement even in wedding jewellery. Something

that can be worn daily is preferred to the traditional heavy

jewellery that typically can only be worn at very formal and

big occasions like weddings.”

S

Wedding RingS ReplacingThe MangalSuTRa

…and one company’s flying start in

servicing the new bridal demand

MeMO

10 IDEX MAGAZINE INDIA RETAIL| NO 16: SPECIAL REP

Special RepORT

by VINoD KurIyAN



Shah went on to say, “The wedding ring has become the

new age mangalsutra. A signicant proportion of younger

women who do wear a mangalsutra at their weddings, now

typically take them off after all the ceremonies are done.

Today’s brides and grooms prefer a symbol of marriagethat both partners can wear. The wedding ring ts that

requirement exactly.”

Shah was speaking at a function to announce Kama

Schachter’s move downstream into jewellery retail. Shah

said that the rst store would be in the Mumbai suburb

of Andheri, followed by a second at the Bandra Kurla

Complex, where the Bharat Diamond Bourse is located.

Thereafter, he said, the company planned to open one retail

outlet every quarter across the country.

But to help the retailing operation gain traction countrywideand speed up recognition of the Kama brand, the company

also launched four vertical initiatives alongside the store

openings. These included two differentiated jewellery

brands that would be offered to other retailers, an online

“Loveathon” on Facebook and an online retail website.

The rst brand, Kama Love, bolsters Shah’s statement

about the wedding ring in India. As the name might

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IDEX MAGAZINE INDIA RETAIL| NO 16: SPECIAL REPORT



suggest, the entire brand offering is only rings in gold and

platinum, the majority set with diamonds. This brand is

targeted at the couples market and is intended to become

the brand of choice for every milestone in this segment

from engagements through weddings and anniversaries. To

ensure that this goal is reached, Kama offers the retailer

the luxury of holding just a bare minimum selection of

representative product. “We will carry the comprehensive

inventory of all our products at our manufacturing facilities. Whatever the customer’s choice of design, whatever the

size of the ring, we guarantee delivery of the specic

product to any store carrying the brand anywhere in India

within 72 hours.”

Kama has the production muscle to ensure this. It is already

an established business-to-business jewellery manufacturer

with over a 1,000 employees and a presence in markets

ranging from Japan through Israel, Germany and the

United States. It has the capacity to produce one lakh pieces

of diamond jewellery every month and already supplies a

number of brands in the US and other markets and alsosells its own private label brands like Love’s Embrace, One

Love, Shared Promises and Medley of Love. As obvious

from their names, these are all relationship-based brands.

“Wedding bands have succeeded under specic brands,”

Shah said, adding “creating a brand taps the hopes and

aspirations of the new market of younger people.” The

Kama Love brand uses the slogan You and I Unique

Together to generate a vision that resonates with the young

people in today’s relationships.

The second brand, Kama Platinum, features jewellery

made with the precious white metal as the name implies.

But there is a substantial platinum offering in the Kama

Love range and Shah says the bridal market has takento the white metal quite enthusiastically. The traditional

craze for gold doesn’t have a bearing on demand for the

product, according to him. “The concept of the wedding

band – in either plain metal or set with diamonds – has

developed a clear demand. What metal it is made in is a

matter of specic choice. In the southern markets, we see

a lot more demand for platinum rings and other jewellery,

the northern and eastern markets clearly prefer more gold.”

According to Shah, platinum jewellery consumption in

India is still miniscule when compared to gold. “Where

we import over 800 tons of gold annually, most of it for

consumption in jewellery, platinum is still a tiny one ton.”

He added the rider however, “but the growth in platinum

jewellery consumption is exponential and we want to be at

the forefront of that growth.”

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Being primarily a diamond jewellery manufacturer, Kama

Schachter’s move into branding and retail naturally focuses

on promoting diamond jewellery. With the diamond

universally recognized as a symbol standing for the

relationship between men and women, the idea of jewellery

that symbolizes love and relationships is a great t for thecompany and Shah clearly relishes the idea of a brand

dedicated specically to relationship milestones.

The Facebook “Loveathon” initiative, which ran through

Valentine’s Day and offered prizes like diamond rings to

lucky fans who signed on, further amplied the company’s

focus on dening its product line as symbols dening

relationships.

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As another jewellery retailer who was asked to comment,

put it, “The consuming market is going through a major

evolution, where the product is no longer a social statement

by the family of the woman, but more a personal statement

by both bride and groom about what their relationship

stands for. We as retailers need to pick up on this. It is a

fundamental change. And given that almost 80 percent by

value of jewellery sales in India are still driven by the bridal

market, even a small change in bridal jewellery preferences

has a huge impact on all our businesses.”

A lot of jewellery retailers have obviously picked up on

the changes and are now moving proactively to service

the new demand. Shah stated at the February retail launch

announcement that 50 retailers had snapped up the branded

lines and more were rapidly coming on board. “We hope to

have the branded lines in 100 outlets over the course of the

next year,” he said.

But Kama isn’t only catering to a new demand. According

to Shah, adding something extra to the product gives it that

much of an edge in the market, and he says his rm has

worked specically at adding that little extra to its product




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offering. “The platinum range,” he says, “is made with

computer numeric control (CNC) machines that produce

an unmatched quality.” That adds more value in the

customer’s eyes, he says.

Kama other vertical initiative, its online diamond jewellery

retailing website www.kamajewellery.com, though aimed at

the generic market, holds the potential to amplify sales of

jewellery in the bridal and relationship segments. Retailers

point to the success of global the internet retailer Blue

Nile and note that ever since it appeared online, the bridaljewellery market in the US was changed beyond anything

retailers could imagine. While bridal jewellery is built around

one of life’s most signicant events, it is still subject to the

consumer’s need to know that the jewellery being bought

is actually value for money. Blue Nile offers consumers the

chance to buy fabulous diamonds and diamond jewellery at

prices completely unmatched by brick and mortar stores.

Love and relationships also come with price tags.

Kama’s most signicant move, however, is that it has

recognized a shift in the hitherto staid and unchanging

Indian bridal market and has been quick off the blocks to

race ahead. While a host of social phenomena are driving

the changes in preference for bridal jewellery, this savvy

player is sure to be at the forefront of the big push as the

wedding ring nudges the millennia-old mangalsutra aside.

ideX




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IDEX MAGAZINE INDIA RETAIL| NO16: SPECIAL REPORT

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nhZo OmZo dmbo nma§n[aH$ ^mar Am^y fUm| H$s OJh A~ amo O nhZo OmZo dmbo hëHo$ Am^yfU bo aho h¢&”

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CZH$s Bg Amdí`H$Vm H$mo {ddmh Ho$ A§Jy R>r ^br-^m§{V nyam H$a Xo Vr h¡&”

emh H$m_m g¡MQ>a Ho$ Iw Xam Am^y fU Ho$ ì`dgm` _| CVaZo H$s KmofUm dmbo g_mamo h _| ~mob aho Wo& CÝhm| Zo H$hm {H$ nhbm ñQ>mo a

{ddmh H$s A§JyR>r AmO Ho$ `wJ H$m _§Jbgy Ì h¡& {ddmh Ho$ Adga na _§JbgyÌ YmaU H$aZo dmbr _{hbmAm| _| go A~ Á`mXma Eogr hmoVr h¢ Omo g_mamoh Ed§ g^r añ_m| Ho$ g§ nÞ hmo OmZo Ho$ ~mX _§ JbgyÌ CVma H$a aI XoVr h¢&




Ü`mZ _| aIH$a CVmam J`m h¡ Am¡ a bú` h¡ Bgo gJmB© go boH$a {ddmh Am¡ a {ddmh Ho$ df©Jm§R>m| VH$ Ho$ {bE ng§ XrXm {dH$ën Ho$ Vm¡a na ñWm{nV H$aZm& Bg bú` H$s ny{V© Ho$ {bE H$m_m Ûmam Iw Xam {dH« o$VmAm| H$mo à{V{Z{Y CËnmX Ho$ Ý yZV_ g§H$bZ ~ZmE aIZo H$s ghÿ{b`V Xo Vm h¡& “ h_ AnZo {Z_m©U Ho$ÝÐm| na AnZo

g^r CËnmXm| H$s g_J« gy Mr aI| Jo& J« mhH$ H$s {H$gr ^r ng§ X Am¡ a gmBO Ho$ CËnmX H$s Amny{V© ^maV ^a _| pñWV {H$gr ^r

ñQ>mo a go 72 K§ Q>o Ho$ AÝXa H$s OmEJr&”

H$m_m AnZr Bg à{V~ÕVm Ho$ {Zdm© h _| gj_ h¡& `h nhbo go hr AnZo 1000 H$_© Mmar Ho$ gmW Am^y fUm| H$m {~OZog-Qy >- {~OZo g {Z_m© Vm h¡ {OgH$s CnpñW{V OmnmZ go bo H$a BOam`b,

O_©Zr Am¡a A_o [aH$m Ho$ ~mOmam| _| h¡& BgH$s j_Vm ha _mh EH$ bmI hrao Ho$ Am^yfUm| Ho$ {Z_m©U H$s h¡ Am¡a `h A_o [aH$m Am¡ a AÝ` Xoem| Ho$ ~mOmam| _| AnZo _mb H$s Amny{V© Vmo H$aVm hr h¡

gmW hr `h AnZo {ZOr Zm_m| dmbo ~«m§S> O¡ go- bìg Eå~«¡ g, dZ bd, eo S© > àm°{_go O Am¡a _o bS>r Am°\$ bd (Love’s Embrace,

One Love, Shared Promises Am¡a Medley of Love) H$s ^r {~H«$s H$aVm h¡& O¡ gm {H$ BZHo$ Zm_ go hr bJVm h¡ o gmao [aíVm| na AmYm[aV ~« m§S> h¢&

emh H$hVo h¢, {ddmh dmbo ~«m§ S> {deo f ~« m§S>m| Ho$ VhV g\$b hþE h¢ Am¡a ~« m§ S> H$m {dH${gV {H$`m OmZm wdm bmo Jm| Ho$ ZE ~mOma H$s

Cå_rXm| Am¡a AmH$m§jmAm| na AmYm[aV hmoVm h¡& AmO Ho$ g§ ~§Ym| Ho$ {bE wdmAm| Ho$ _Zmo md H$mo Xem©Zo ho Vw H$m_m bd ~« m§S> “ y E§ S>AmB© y{ZH$ Qw>Jo Xa ” Zmao H$m BñVo _mb H$aVm h¡&

Xÿgam ~« m§ S> “ H$m_m ßb¡ {Q>Z_ ” O¡gm {H$ Zm_ go ñnï> h¡ ñ\o$X ßb¡{Q>Z_ YmVw go {Z{_© V Am^y fUm| H$m à{V{Z{YËd H$aVm h¡& bo {H$Z “ H$m_m bd ” H$s l¥ §Ibm _| ßb¡ {Q>Z_ H$s ~‹S>r g§»`m _|Am^yfU AmVo h¢ Am¡a emh H$hVo h¢ d¡ dm{hH$ Am^y fUm| H$m ~mOma

go\$X YmVw Ho$ à{V Imgm CËgm{hV h¡& CZHo$ AZw gma gmoZo Ho$Am^yfUm| Ho$ à{V nma§ n[aH$ bJmd go BZ CËnmXm| H$s _m§J na H$mo B© à^md Zht n‹ S>Vm& “ d¡ dm{hH$ ~«m§S> H$s AdYmaUm- Mmho \$H$V YmVw Ho$ ê$n _| hmo `m hrao Ho$ go Q> Ho$ ê$n _|- Ho$ {bE bmo Jm| H$s

ñnï> _m§J h¡& Am^y fU {H$g YmVw Ho$ ~Zo hm| h Vmo ì`{º$JV ng§ X H$s ~mV h¡& X{jU Ho$ ~mOmam| _| h_ ßb¡{Q>Z_ H$s A§Jy{R>`m| Am¡a AÝ` Am^yfUm| H$s _m§J A{YH$ nmVo h¢ O~{H$ CÎma Am¡a nya~

Ho$ ~mOmam| _| gmo Zo Ho$ à{V bmoJm| H$m bJmd A{YH$ PbH$Vm h¡&”Colin Shah with a sample range of wedding rings




Š`m|{H$ hrao H$mo Xþ{Z`m â _| ór Am¡a nwéf Ho$ [aíVo Ho$ àVrH$

ê$n _|Z XoIm OmVm h¡ BgH$maU

ào_ Am¡a [aíVm| H$mo Xe©Zo dmboAm^yfUm| H$m {Z_m©U H§$nZr Ho$ {bE ghO hr Cn`w º$ h¡ Am¡a [aíVm| H$mo g_{n©V ~«m§S> H$s AdYmaUm go emh ny ar Vah gh_V hmoVo h¢&

emh Ho$ AZw gma ^maV _| ßb¡ {Q>Z_ Am^yfUm| H$s InV AmO ^r gmoZo H$s VwbZm _| ~hþ V H$_ h¡& “ h_mao Ûmam Am`mV {H$E JE 800 Q>Z gmo Zo H$m A{YH$m§e ^mJ Am^y fUm| Ho$ {Z_m© U _| InV hmo Vm

h¡ Am¡a ßb¡{Q>Z_ A~ ^r Ho$db EH$ Q>Z Ho$ ñVa VH$ gr{_V h¡& bo{H$Z ßb¡ {VZ_ Am^y fUm| InV _| _hËdny U© d¥ {Õ h¡ Am¡ a h_ Bg d¥{Õ H$m AJ« Ur H$maH$ ~ZZm MmhVo h¢&”

_y bê$n go hrao Ho$ Am^yfU {Z_m© Vm hmoZo Ho$ H$maU H$m_m g¡ MQ>a Ho$ ~« m§qS>J Am¡ a IwXam {~H«$s H$s _w{h_m| Ho$ VhV Agb Ü`mZ hrao Ho$Am^y fUm| H$mo ~‹ T>mdm XoZo na {X`m J`m h¡& Š`m| {H$ hrao H$mo Xþ{Z`m â _| ór Am¡ a nwéf Ho$ [aíVo Ho$ àVrH$ ê$n _|Z Xo Im OmVm h¡

BgH$maU ào_ Am¡a [aíVm| H$mo Xe©Zo dmbo Am^yfUm| H$m {Z_m© U H§$nZr Ho$ {bE ghO hr Cn w º$ h¡ Am¡ a [aíVm| H$mo g_{n©V ~«m§S> H$s AdYmaUm go emh ny ar Vah gh_V hmoVo h¢&

\o$g~w H$ na “Loveathon” dmbm à`mg {Ogo d¡ b| Q>mBZ So> Ho$Adga na ew ê$ {H$`m J`m Am¡ a {Og_| gmBZ Am° Z {H$E ^m½èmbr

àe§ gH$m| H$mo hrao H$s A§ Jy R>r go nw añH¥$V H$aZo H$s mo OZm h¡ , [aíVm| H$mo n[a^m{fV H$aZo dmbo àVrH$m| Ho$ ê$n _| CËnmXm| Ho$ AdVaU Ho$ H§$nZr H$s H$mo {eem| H$mo àmo Ëgm{hV H$aVm h¡&

Xÿgao Am^y fU Ho$ {dH« o$Vm H$s {Q>ßnUr BgàH$a h¡, “ Cn^mo º$m ~mOma ~‹S>o n[adV© Zm| Ho$ Xm¡ a go Jw Oa ahm h¡ Ohm§ Am^y fUm| H$s IarX A~ Ho$db Ka H$s _{hbmAm| Ho$ {Oå_o ahZo dmbm {df` Zht ah J`m h¡ ~pëH$ `h A~ Xÿ ëhm Am¡a XÿëhZ Xmo Zm| H$s AnZr-AnZr ng§ Xm| na {Z^© a hmoZo bJm h¡& h_ Iw Xam {dH« o$VmAm|

Ho$ {bE Oê$ar h¡ {H$ h_ Bg n[adV©Z H$mo R>rH$ go g_P|& h EH$AmYma^yV n[adV© Z h¡& ...Am¡ a Bg VÏ` H$mo Ü`mZ _| aIH$a {H$^maV _| Am^y fU ~mOma H$m àm`… 80 à{VeV d¡dm{hH$ Am^yfUm|

na AmYm[aV h¡, `h ~mV g_Pr Om gH$Vr h¡ {H$ {ddmh g§~§Yr Am^y fUm| H$s é{M _| hmo Zo dmbm EH$ N>mo Q>m n[adV©Z ^r h_mao

ì`dgm` na ~‹S>m à^md S>mb gH$Vm h¡&”

18 IDEX MAGAZINE INDIA RETAIL| NO 16: SPECIAL REPO



H$B© gmao Am^yfU {Z_m©VmAm| Zo Bg n[adV© Z H$mo g_P H$a Cg AZw ê$n H$X_ CR>mE h¢ Am¡a ZB© _m§Jm| H$mo nyam H$aZo H$s {Xem _| g{H«$` h¢& \$adar Ho$ [aQ>o b bm°ÝM H$s CÓmofUm _| emh Zo H$hm {H$ 50 IwXam {dH«o$VmAm| Zo ~« m§ So>S> bmBZ H$mo AnZm`m h¡ Am¡ a H$B© AÝ` Bg {Xem _| ~‹ T>Zo H$mo VËna h¢& CZHo$ AZw gma, “AJbo gmb VH$ h_ 100 AmCQ>bo Q>m| _| ~« m§ So>S> bmBZ Ho$ AnZmE OmZo H$s Cå_rX aIVo h¢&”

bo{H$Z H$m_m hr Ho$db ZB© _m§Jm| H$s ny {V© Zht H$a ahm h¡&emh Ho$ AZwgma CËnmX _| Hw$N> A{V[aº$ àXmZ H$a XoZo go

~mOma _| ~‹T>V {_b OmVr h¡ Am¡ a CZHo$ \$_© Zo AnZo CËnmXm| _| Hw$N> A{V[aº$ Omo‹ S>Zo H$s nhb H$a aIr h¡& do H$hVo h¢, ßb¡ {Q>Z_ l¥§ Ibm Ho$ CËnmX ~o Omo‹S> ¹$m{bQ>r Xo Zo dmbr H$åß yQ>a Ý y_¡ [aH$ H§$Q >mob (grE_gr) _erZm| Ho$ O[aE V¡ ma {H$E Om aho h¢& CZHo $ AZw gma h Cn^mo º$m H$s ZOam| A{YH$ _y ë` g§ dYu h¡&

H$m_m H$m EH$ AÝ` à`mg h¡ hrao Ho$ Am^yfUm| H$s Iw Xam {~H«$s Ho$ {bE Am° ZbmBZ [aQ>oqbJ do ~gmBQ> www.kamajewellery.com H$s ewéAmV& hmbm§ {H$ BgH$m bú`

h¡ gm_mÝ` Am^yfUm| H$m ~mOma bo{H$Z d¡dm{hH$ [aíVm| go g§~§ {YV CËnmXm| H$s {~H«$s H$mo ^r Bggo ~‹ T>mdm {_boJm&

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A{YH$ d¥{Õ hþB©& hmbm§{H$ d¡ dm{hH$ Am^yfU H$m {Z_m©U OrdZ Ho$ EH$ ~hþV hr _hËdny U© Adga H$mo Ü`mZ _| aIH$a {H$`m J`m hmo Vm h¡, A~ ^r Bg g§ X^© _| J« mhH$m| Ho$ {bE CËnmX Ho$ _m¡{ÐH$ _yë` H$m kmZ _hËdnyU© h¡& ãby ZmBb J« mhH$m| H$mo Cg H$s_V na emZXma hram| Am¡a hrao Ho$ Am^yfUm| H$s IarX H$m Adga àXmZ

H$aVm h¡ Omo dmñV{dH$ ñQ>mo am| go {~ëHw$b {^Þ h¡& ào_ Am¡ a [aíVo na ^r H$s_V A§ {H$V hmo Vr h¡&

hmbm§{H$ H$m_m H$s g~go _hËdnyU© H$mo {ee h¡ A~ VH$ An[ad{V© V _mZo OmZo dmbo ^maVr` d¡ dm{hH$ Am^y fU ~mOma _| CR> aho

~Xbmdm| Ho$ g§ Ho$Vm| H$mo nhMmZ H$aZm& Am¡ a ~mOma _| AJ«Ur ~Zo ahZo Ho$ {bE BgZo Bg n[adV©Z H$mo g_PH$a Vo Or go Cg AZw ê$n H$X_ CR>mE h¢& `Ú{n d¡dm{hH$ Am^y fU ~mOma _o hmo Zo

dmbo n[adV© Zm| Ho$ AZo H$ H$maH$ h¢ bo{H$Z Bg g_PXma Am¡a OmJéH$ pIbm‹ S>r H$m Bg n[adV© Z Ho$ Xm¡a _| AJ«Ur ~Zm ahZm V` h¡ Š`m|{H$ {ddmh H$s A§Jy R>r Ûmam nma§n[aH$ _§Jbgy Ì H$m ñWmZ Omo {b`m Om ahm h¡!IDEX




SHOW TIMEFROM SILVER TO SPIDERS AND PRECIOUS METALS TO MORE

ACCESSIBLE MATERIALS, IDEX MAGAZINE BRINGS YOU A

TASTE OF SOME OF THE BEAUTIFUL NEW OFFERINGS.

SILVER SPARKLE

JEWELLERY BY GIOVANNI RASPINI

With his exquisite silver pieces, Giovanni Raspini is

bang on trend for discerning consumers who want high-

class design, without shelling out for gold. The Color Rings

collection combines a large colorful zircon surrounded by

silver figurative elements such as fish, daisies, starfish and

miniature butterflies.

RETAIL ET

CETERA

IDEX MAGAZINE INDIA RETAIL | NO 16: RETAIL ET CETERA



The new Fifth Season by Roberto Coin brand is the perfect

collection for women looking for quality jewellery for the

different seasons of their life. A small ruby is hidden inside

each piece created by Roberto Coin. Legend has it that this

gem has the power to promote a long, healthy and happy

life. Excellent design and a long life, who could ask for

anything more?

A JEWEL FOR ALL SEASONS

JEWELLERY BY ROBERTO COIN

The Gallica collection from Turkish designer RobertoBravo takes its inspiration from the beauty of the rose.

The delicate petals of a rosebud never open completely,

remaining as the untouched secret of its supreme beauty.

Gallica is the most precious and rare rose in the world –

and almost as beautiful as this necklace!

JEWELLERY BY ROBERTO BRAVO

BRAVO, BRAVO!




The Vega range from Ponte Vecchio Gioielli features

diamonds that are free to move within a mesh of platinum,

evoking the light of the brightest star, emitting a powerful

energy. The combination of energy and purity is the

cornerstone of the Vega range. The pieces are made of

white, pink and yellow gold with gemstones including

sapphires, tsavorites, rubies and, of course, diamonds.

ENERGY AND PURITY

JEWELLERY BY PONTE VECCHIO GIOIELLI

Italian designer Pippo Perez has generations of creativity

running through his veins, as these pieces attest. His family

has roots in the goldsmith trade reaching back all the way

to the 15th century! Given the current demand for more

accessible materials, Perez has swapped gold for cord with

these diamond and gemstone bracelets.

ALL IN THE FAMILY

JEWELLERY BY PIPPO PEREZ

Roberto Giannotti is synonymous with “Made in Italy,”

and constantly expresses a particular sensitivity to the

quality and performance of modern materials. These owl-

themed pieces are sure to cause a “hoot” wherever they

are worn.

MADE IN ITALY

JEWELLERY BY ROBERTO GIANNOTTI

24 IDEX MAGAZINE INDIA RETAIL | NO 16: RETAIL ET CET



Created in 1983 by Rino Rigon and Roberto Matteazzi,

Vicenza-based Superoro is characterized by thoughtful

design and the continuous use of new shapes. With true

Italian style, the company works with yellow, white and

pink gold to create its stunning signature pieces.

SUPERORO

JEWELLERY BY SUPERORO

With One , a line of rings that feature everything the

word “jewel” brings to mind, Mattioli utilizes colored

and smooth bombè gems that emerge from a cluster of

luminous stones. The gem is embraced by a crown of white

or black diamonds, topazes, sapphires or other sparkling

stones.

SHE’S THE ONE

JEWELLERY BY MATTIOLI




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 up-

to-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 first-

time 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 wil l 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 [email protected]

nhcr ~ma, ^maVr` hram Am^y fU IwXam {dH«o$VmAm| Zo hram _yë`m| H$m Iw Xam ~| M_mH©$ V` {H$`m h¡ {Oggo do AnZo J«mhH$m| H$mo, hram Ho$ dgy c {H$E Om aho IwXam _y ë`m| H$m ^amo gm {Xcm gH|$Jo& ApIc ^maVr` aËZ Ed§ Am^y fU ì`mnma g§K (OrOo E\$) Ûmam g_W©Z {XE OmZo go ~|M_mH©$ _yë`m| H$mo Xoe^a _| ñdrH$ma {H$`m J`m h¡ {Oggo J« mhH$ H$m hram IarXZo Ho$ à{V {dídmg ~‹T>m h¡&

hram [aQ>oc ~| M_mH©$ (S>rAma~r) dmñV{dH$ Am¡a ny U© V: nmaXeu àUmcr

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Ho$dc ny d© OmZH$mar Ho$ ê$n _| {H$`m OmZm Mm{hE& dmñV{dH$ _yë`, {dH«o$VmAm| Ûmam V` {H$E OmVo h¢&

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AmB© So>Šg Am° ZcmBZ na gånH© $ H$a|& \¡$Šg na gånH© $ H$a|&[email protected] na B©_oc H$a|

AmB©So>Šg Am°ZcmBZ hram [aQ>oc ~|M_mH©$-EH$ OmZH$mar

ABOUT THE IDEX ONLINE DIAMOND RETAIL BENCHMARK

(022) 6633 2187

(022) 6633 2186

IDEX MAGAZINE INDIA RETAIL| NO 16: DRB



This price list reflects suggested retail prices for polished diamonds. Diamonds may, and should, sell at discounts compared to this list. For more

education on prices and discounts please visit www.diamondSRP.com. Copyright 2009 by WFDB and IDEX Online S.A. All rights reserved.D R A F T – J A N U A R Y 1st 2 0 10

IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3

D 255553 206716 199203 149180 145324 137613 110624 87145 71327 59415 47552

E 176169 168457 164602 137613 129902 106769 99058 79236 63419 51506 43597

F 164602 160746 156891 133758 126047 95103 91149 71327 63419 51506 43597

G 149180 145324 141469 126047 122191 91149 87145 67373 63419 51506 43597

H 145324 141469 137613 122191 118335 87145 83191 63419 59415 47552 39643

I 141469 137613 126047 114480 110624 83191 75282 59415 55460 47552 39643

J 133758 114480 106769 87145 79236 67373 63419 55460 51506 43597 35639

K 9 90 58 9 11 49 7 92 36 7 13 27 6 34 19 5 94 15 5 54 60 5 15 06 4 75 52 3 96 43 3 16 85

L 7 92 36 7 52 82 7 13 27 6 73 73 5 94 15 5 54 60 5 15 06 4 75 52 3 96 43 3 16 85 2 77 30

M 7 52 82 7 13 27 6 73 73 6 34 19 5 54 60 5 15 06 4 75 52 4 35 97 3 56 39 2 77 30 1 98 21

N 6 73 73 6 34 19 5 94 15 5 54 60 5 15 06 4 75 52 4 35 97 3 96 43 3 16 85 2 77 30 1 98 21

R o u n d 0 . 1

8 - 0 . 2

2


D 267762 227378 212500 178640 167370 140826 133115 98415 86849 67373 55460

E 212500 193667 186153 174883 156100 133115 121548 86849 82993 63419 47552

F 208743 189910 182397 167370 152343 129259 113837 82993 79137 59415 47552

G 193667 186153 178640 163613 140826 125404 106126 79137 75282 59415 47552

H 174883 167370 163613 159857 133115 121548 94560 75282 71327 55460 43597

I 159857 156100 148537 133115 113837 106126 90704 71327 63419 55460 43597

J 156100 144682 113837 94560 90704 82993 75282 67373 59415 51506 39643

K 117693 106126 94560 79137 75282 71327 67373 59415 55460 47552 35639

L 9 45 60 8 68 49 7 91 37 7 13 27 6 73 73 6 34 19 5 94 15 5 54 60 4 75 52 3 96 43 3 16 85

M 8 68 49 8 29 93 7 52 82 6 73 73 6 34 19 5 94 15 5 54 60 5 15 06 3 96 43 3 16 85 2 37 76

N 7 91 37 7 52 82 6 73 73 6 34 19 5 94 15 5 15 06 4 75 52 4 35 97 3 96 43 3 16 85 2 37 76

R o u n d 0 . 4

5 - 0 . 4

9


D 444573 352584 335432 290550 213834 192530 188971 181754 152838 119719 82103

E 345763 318280 259310 231431 199747 167419 163811 160153 134450 85860 74392

F 325151 294059 248880 206766 188971 160153 141815 134450 119719 74392 66681

G 280120 259310 234941 196138 185363 156495 134450 127134 108449 70685 62826

H 262770 238450 213834 181754 170978 152838 130792 119719 101282 70685 59118

I 259310 203256 188971 167419 160153 145472 127134 115963 93769 66829 59118

J 196138 188971 178195 152838 138157 130792 119719 112206 86107 62826 51259

K 170978 163811 152838 145472 134450 127134 115963 108449 74540 58970 47403

L 149130 145472 141815 138157 130792 123476 97130 93373 70537 51259 43548

M 145472 134450 123476 119719 112206 108449 93373 78248 62826 51259 39643

N 130792 127134 115963 112206 108449 93373 89617 74392 62826 51259 39643


D 624548 481399 418474 371565 334394 276413 228119 221150 175872 168803 114875

E 468201 408440 384961 344527 300436 252390 207260 196830 161784 143891 96487

F 405079 374927 354710 327573 286694 231580 196830 189910 158225 118533 88974

G 391683 347938 327573 300436 255800 210770 179381 175872 151058 107510 81461

H 354710 327573 300436 262671 231580 196830 175872 172313 143891 103852 77704

I 303846 283234 255800 231580 214230 172313 161784 158225 136674 92731 73947

J 242009 228119 221150 200340 179381 161784 154666 151058 125849 88974 70191

K 207260 193370 186401 158225 151058 147450 140282 136674 122191 81461 62578

L 193370 172313 158225 151058 143891 136674 129507 125849 114875 66434 51012

M 168803 158225 147450 143891 140282 129507 118533 114875 107510 66434 51012

N 165294 154666 143891 136674 133115 122191 114875 96487 81461 62578 51012


D 303055 253378 217393 195397 177009 147153 135883 124613 109487 86354 63221

E 256987 228268 202712 180667 162180 139640 124613 120856 109487 78643 59365

F 231827 210078 184374 169693 154666 132126 120856 117100 109487 67077 51506

G 206370 188032 180667 165937 147153 128370 117100 113343 101776 67077 51506

H 180667 173351 165937 162180 143396 124613 109487 105632 90210 67077 51506

I 162180 158423 154666 139640 124613 120856 105632 97921 86354 63221 47552

J 158423 147153 132126 120856 113343 105632 101776 90210 74788 55460 43597

K 132126 128370 117100 109487 101776 94065 86354 82499 70932 51506 39643

L 117100 109487 105632 101776 97921 90210 74788 67077 59365 47552 35639

M 1 01 77 6 9 7 92 1 9 40 65 9 02 10 8 63 54 8 24 99 6 70 77 5 54 60 4 75 52 3 56 39 2 77 30

N 9 79 21 9 40 65 9 02 10 8 63 54 8 24 99 5 93 65 5 15 06 4 75 52 3 96 43 3 16 85 2 37 76

R o u n d 0 . 3

0 - 0 . 3

9


D 337656 289017 261139 240032 200834 168210 153530 149872 127579 97525 70685

E 285508 261139 240032 218777 186450 157187 138849 135092 116309 78643 66829

F 268158 232964 218777 197226 175575 153530 135092 131336 116309 70685 62974

G 240032 215218 204442 190058 171868 149872 127579 123822 105039 70685 59118

H 218777 211610 193667 179233 168210 146214 123822 112552 101282 70685 59118

I 208001 179233 171868 157187 149872 142507 120065 108795 93769 66829 59118

J 171868 164552 153530 142507 131336 120065 112552 101282 86107 59118 47552

K 160895 146214 142507 131336 123822 112552 97525 89963 74540 55263 43597

L 146214 138849 135092 127579 116309 105039 89963 74540 62974 47552 39643

M 138849 123822 116309 112552 105039 93769 74540 59118 51407 39643 31685

N 116309 112552 108795 105039 101282 86107 70685 55263 51407 39643 31685


D 779313 571213 519608 480855 441954 379820 323371 296531 238945 169990 114875

E 632309 500232 464691 438691 406067 346702 299892 262720 214922 169990 110081

F 513182 477642 428954 419216 369885 340078 276314 252538 208051 169990 110081

G 458216 428954 412642 366573 336717 303253 262720 249177 201180 156051 106472

H 448478 399493 366573 336717 309976 279675 238945 225203 190800 149130 99206

I 356637 336717 330094 299892 283086 242355 208051 194309 173450 113640 80867

J 272903 266131 262720 235485 225203 211462 183880 180420 156051 99206 77160

K 225203 221792 208051 187340 180420 169990 156051 145571 135043 81461 62578

L 208051 190800 187340 166480 159560 152590 138552 135043 114875 73404 62134

M 201180 187340 173450 156051 152590 149130 124415 120856 107510 73404 62134

N 176910 173450 163020 152590 149130 145571 120856 106472 88183 65890 54620

R o u n d 0 . 7

0 - 0 . 7

9


D 897204 682134 586339 531817 490000 402756 347295 310964 254169 179134 114875

E 694887 599141 515753 486787 451246 370231 324211 280960 227032 169990 112948

F 602354 554308 473885 460935 422182 363706 297717 270926 216849 169990 112948

G 512540 480311 441558 402756 373493 320900 270926 257481 203157 158324 109389

H 460935 451246 409231 380018 337459 301029 254169 237215 196287 149130 99206

I 396231 373493 363706 327523 310964 260842 227032 220211 186005 113640 80867

J 310964 294356 291044 257481 243986 223621 210028 206568 161834 102172 80423

K 257481 247348 240576 210028 196287 172264 165294 161834 135043 84080 65692

L 243986 206568 203157 189416 168754 158324 147944 140974 114875 73404 62134

M 233804 196287 192876 186005 165294 154864 140974 137514 107510 73404 62134

N 206568 186005 179134 168754 161834 151404 134005 116457 91396 65890 61886

Prices are in Rupees Per Carat Powered by www.idexonline.com

MARCH 1st 2012

THE DIAMOND RETAIL BENCHMARK INDIADIAMOND RETAIL BENCHMARK FOR POLISHED DIAMONDS

MARCH 1st 2012

Disclaimer: This Diamond Retail Benchmark India (DRB™) is an informational and educational tool for diamond consumers. Organized around the “the 4C’s” - Carat, Cut, Color & Clarity - the DRB India is bas

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 Fede

of Diamond Bourses (WFDB) The DRB™ should be used as background information only. Actual diamond sale prices may be dier compared to this benchmark, depending on demand and supply at time of transasource of the diamond certicate; uorescence; cut specications; payment and other terms of business; foreign exchange rates; special stones and other business considerations. This is published jointly by Th

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



Prices are in Rupees Per Carat Powered by www.idexonline.co

MARCH 1st 2012


D 1192202 1013364 820093 675016 560487 502901 419216 373987 295690 201872 126145

E 907733 857709 744564 592369 528506 477148 406265 348037 295690 195100 119176

F 863938 731959 655986 534882 515703 451444 380413 328512 289017 174537 112948

G 769823 649658 554110 483623 457870 412741 354512 308839 255800 174537 112157

H 560487 541308 509277 464296 432117 373987 341512 302264 222188 160796 105138

I 528506 464296 425691 406265 386889 328512 302264 262523 195100 119176 90852

J 457870 412741 386889 348037 315363 289017 269146 249078 167667 112157 83685

K 282394 275770 269146 262523 255800 242405 215416 208644 140035 105138 76419

L 249078 242405 235682 228960 222188 208644 195100 181408 119176 90852 76419

M 235682 228960 222188 215416 201872 188279 153925 140035 119176 90852 76419

N 228960 188279 181408 174537 167667 153925 146955 133066 105138 83685 69054

R o u n d 0 . 9

0 - 0 . 9

9


D 1856492 1316617 1200655 967444 819203 599833 504631 459897 350656 253180 145522

E 1298328 1163928 949007 825382 713127 555494 472699 421490 344231 226686 131830

F 1139460 930569 794291 763150 637696 536464 447094 415064 331280 213290 131830

G 881189 800519 750644 637696 587179 504631 415064 395786 324854 199895 117940

H 731910 700571 631419 574525 530087 466323 408638 363607 305428 193222 110970

I 599833 587179 530087 491878 479125 421490 370033 350656 292428 179629 110970

J 491878 485501 466323 434341 415064 370033 344231 305428 246557 159263 104050

K 440718 427916 402212 376508 363607 318379 285953 266329 220013 117940 104050

L 363607 350656 331280 324854 298903 285953 259755 246557 206617 117940 97031

M 318379 311903 285953 272854 253180 233310 213290 206617 199895 117940 90012

N 311903 298903 266329 259755 206617 199895 193222 166085 138701 110970 90012

R o u n d 2 . 0

0 - 2 . 9 9


D 3627223 2566356 2265031 1998850 1435348 1095072 818709 612537 496425 304538 158127

E 2477778 2276845 1951496 1696784 1274404 1035212 764336 600327 478038 291983 151651

F 2069832 1927819 1684920 1488930 1244549 939219 727956 582038 410368 254070 132225

G 1655262 1477067 1298279 1172826 1089091 836850 697655 575958 398010 204146 117940

H 1298279 1190769 1125027 1035212 897105 800618 667305 563749 398010 204146 114974

I 1029182 981235 939219 818709 764336 673385 612537 514863 398010 184226 110970

J 818709 758256 721925 679415 618616 563749 514863 434984 310816 159263 108202

K 679415 673385 667305 600327 557669 508684 441163 391832 241367 119176 108202

L 551540 520943 496425 465779 434984 385653 360790 323371 228614 117940 102814

M 502555 478038 453471 428855 385653 335877 291983 266724 210720 117940 102814

N 447292 434984 422676 410368 348383 329599 273051 222287 203108 116605 95845


D 6864196 4718538 4079903 3340578 2664722 1704000 1129723 669974 555445 330044 167864

E 4314349 3945008 3446260 2770552 2264537 1437869 1123791 663993 537304 317736 155111

F 3933293 3322932 2723544 2382328 2034638 1331298 1040551 645951 519114 293120 148735

G 2988093 2476492 2370564 2022824 1692137 1195020 867595 633890 476604 268355 142309

H 2140764 1993314 1845766 1627137 1343161 992900 813816 627860 470524 262177 135933

I 1627137 1526596 1414192 1307621 1082171 855683 735963 579616 403547 237215 135933

J 1295758 1200951 1135704 1040551 951181 724001 633890 494844 397417 212154 135933

K 998881 975056 963094 879557 813816 651982 543335 440125 366869 161488 123081

L 706009 682035 676005 669974 621829 476604 409626 372999 311607 161488 123081

M 597708 591677 585647 573586 494844 409626 360740 299299 249720 161488 123081

N 494844 470524 434045 421836 348432 336173 293120 268355 218431 155111 116605


D 1955253 1426056 1226062 1000661 847477 656084 537205 486737 391387 256344 145522

E 1389774 1238172 994532 859736 761321 587426 499342 455053 378584 243393 131830

F1165213 1012870 847477 798245 674720 568643 480410 436022 353029 217294 131830

G 896561 835169 798245 674720 612438 543483 448726 410516 346603 204146 117940

H 748963 718119 637400 599932 549760 499342 429646 404140 333751 204146 110970

I 637400 599932 543483 511996 480410 429646 385010 372208 320900 184226 110970

J 518274 486737 480410 455053 423269 372208 346603 333751 288671 159263 104050

K 448726 429646 416893 385010 378584 327325 295147 269295 220013 117940 104050

L 391387 365831 340177 327325 320900 288671 269295 262819 210720 117940 102814

M 359406 346603 295147 288671 269295 249869 236869 223819 210720 117940 102814

N 340177 327325 288671 282196 210720 204146 197522 190899 164157 116605 95845

R o u n d 1 . 2

5 - 1 . 4

9


D 2283369 1681510 1507961 1279940 1050388 801063 629343 549167 443140 278241 155161

E 1627730 1460063 1249788 1110939 977577 745998 598597 524353 411702 265439 148537

F 1400105 1237727 1104909 995817 862010 727610 567753 493213 386493 239686 131830

G 1074608 1007977 928987 868139 770465 666267 518125 474479 367463 204146 117940

H 892459 831561 782675 733739 684704 617035 493213 436862 361136 204146 114974

I 745998 721480 696963 647830 586240 530582 436862 424307 354809 184226 110970

J 623213 598597 573932 536760 499441 443140 399098 361136 297470 159263 108202

K 505669 486984 480756 455745 424307 373839 322976 284667 220359 117940 108202

L 424307 399098 386493 354809 348482 310272 284667 265439 210720 117940 102814

M 392771 361136 329352 310272 271865 259013 246161 226785 210720 117940 102814

N 354809 348482 322976 297470 252587 239686 233260 207408 181458 116605 95845

R o u n d 4 . 0

0 - 4 . 9

9


D 8459846 6750853 5040871 3760387 2875393 1841119 1262887 723210 603689 350409 184522

E 7433283 5262911 3695980 3309388 2757996 1558231 1215632 705317 561772 317736 155111

F 5899273 3625740 3121752 2916469 2417424 1487398 1186023 681442 549810 295542 148735

G 4497389 2916469 2646482 2446785 1941215 1304309 1026216 675461 501715 277154 142309

H 3432419 2199932 2105866 1923568 1629015 1215632 878025 645605 483673 271025 140431

I 2617121 1575927 1540486 1493280 1268819 990676 824542 579764 435379 258766 140431

J 2000037 1363378 1203769 1120974 1038079 818561 735172 495684 399048 240279 135933

K 1257005 1150533 1049893 949254 872093 699385 621681 441410 366869 178245 134104

L 1044011 943322 806648 741104 681442 555791 459551 380809 313881 178245 134104

M 836405 717279 615700 573734 537798 483673 399048 344329 283283 178245 127727

N 627662 567753 507745 435379 362618 344329 319960 301622 246458 171967 127727


MARCH 1st 2012


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 Fed

of Diamond Bourses (WFDB) The DRB™ should be used as background information only. Actual diamond sale prices may be dier compared to this benchmark, depending on demand and supply at time of transsource of the diamond certicate; uorescence; cut specications; payment and other terms of business; foreign exchange rates; special stones and other business considerations. This is published jointly by T


30


D 10161473 7513409 5559442 4112131 3036238 1992276 1486558 777732 635077 359504 188773

E 7735054 5991064 4812851 4012826 2965948 1986394 1374599 724298 599339 329253 157781

F 5899273 4678599 4655219 3720646 2866396 1980561 1368717 718366 587377 304934 157781

G 4497389 2995260 2989378 2954233 2631999 1816009 1362835 712435 581445 286694 145275

H 3432419 2602687 2467793 2379807 2127418 1392295 1174012 646989 521684 280614 145275

I 2617121 2209620 2121536 1921789 1763069 1250777 1008570 581445 467806 268454 145275

J 2000037 1768951 1733658 1404109 1362835 1049943 866557 503741 413779 244036 135933

K 1527782 1333325 1315678 1120875 1008570 771800 694590 449813 377645 194902 134104

L 1168130 1002638 878421 854694 736210 694590 563502 401718 323173 188773 134104

M 890234 759937 688659 652970 611251 545608 443832 365535 292774 188773 127727

N 682727 646989 587377 497760 407748 377645 353474 317093 262325 182594 127727




D 156891 141469 137613 118335 102913 91149 71327 55460 47552 39643 31685

E 118335 114480 106769 95103 87145 63419 59415 47552 43597 35639 27730

F 9 9 05 8 8 31 91 7 92 3 6 7 52 82 7 13 27 5 9 41 5 5 54 6 0 4 35 97 4 35 97 3 56 39 2 77 30

G 8 71 45 7 92 3 6 7 52 82 7 13 27 6 73 73 5 54 6 0 4 75 52 3 96 4 3 3 96 4 3 3 16 8 5 2 77 30

H 8 31 91 7 52 82 7 13 27 6 73 73 5 94 15 4 75 52 4 35 97 3 56 39 3 56 39 2 77 30 2 37 76

I 7 92 36 7 13 27 6 73 73 6 34 19 5 54 6 0 4 35 97 3 9 64 3 3 16 85 3 16 8 5 2 77 30 2 37 76

J 7 52 82 6 73 73 5 94 15 4 75 52 4 35 97 3 56 39 3 16 8 5 2 77 3 0 2 77 30 2 37 76 1 98 21

K 5 54 6 0 4 75 52 4 35 97 3 96 4 3 3 56 39 3 16 8 5 2 77 30 2 37 76 2 37 76 2 37 76 1 98 21

L 4 35 97 3 96 4 3 3 56 39 3 16 8 5 2 77 30 2 37 76 19 8 21 1 58 67 15 8 67 1 58 67 1 58 67

M 3 96 4 3 3 56 39 3 16 8 5 2 77 30 2 37 76 1 98 21 1 58 67 11 86 3 11 86 3 11 86 3 11 86 3

N 3 56 39 3 16 85 2 77 30 2 37 76 19 82 1 1 5 86 7 118 63 7 90 9 7 90 9 7 90 9 7 90 9

F a n c y

0 . 1

8 - 0 . 2

2


D 167370 152343 148537 133115 121548 98415 90704 67373 63419 47552 39643

E 159857 148537 144682 129259 117693 94560 86849 59415 59415 43597 31685

F 136971 133115 129259 125404 113837 90704 82993 55460 55460 39643 31685

G 133115 121548 117693 109982 106126 86849 75282 51506 51506 39643 31685

H 121548 113837 109982 102271 98415 82993 67373 47552 47552 39643 27730

I 109982 106126 102271 90704 71327 67373 63419 43597 43597 35639 27730

J 1 02 27 1 9 0 70 4 7 913 7 6 3 41 9 5 941 5 5 54 6 0 5 15 0 6 3 96 4 3 3 96 4 3 3 16 8 5 2 77 30

K 7 91 37 7 13 27 6 34 19 5 94 15 5 15 0 6 4 75 52 4 35 97 3 56 39 3 56 39 3 16 8 5 2 37 76

L 6 3 41 9 5 94 15 5 54 6 0 4 75 52 4 35 97 3 96 4 3 3 56 39 3 16 85 3 16 8 5 2 77 30 1 98 21

M 5 54 6 0 5 15 0 6 4 75 52 4 35 97 3 96 4 3 3 56 39 3 16 8 5 2 77 30 2 77 30 1 98 21 1 58 67

N 5 15 0 6 4 75 52 4 35 97 3 96 4 3 3 56 39 3 16 8 5 2 77 3 0 2 37 76 2 37 76 1 98 21 11 86 3


D 311409 231431 203256 192530 170978 152838 127134 119719 104693 85860 62826

E 224363 203256 178195 174587 163811 145472 119719 108449 89617 70537 58970

F210275 188971 167419 163811 152838 119719 108449 100887 85860 62974 51259

G 199747 167419 156495 152838 138157 112206 104693 85860 82103 55263 47403

H 174587 163811 138157 134450 119719 104693 93373 78248 74392 55114 43548

I 163811 149130 119719 115963 108449 100887 89617 74392 62974 51407 43548

J 127134 119719 104693 100887 97130 93373 82103 70537 58970 43597 35639

K 112 2 06 10 4 69 3 9 3 37 3 8 9 617 8 58 6 0 8 21 03 7 82 48 6 28 26 5 89 70 3 96 4 3 3 16 8 5

L 9 713 0 9 33 73 8 58 6 0 7 82 4 8 7 43 92 7 05 37 6 28 26 5 8 97 0 4 35 4 8 3 56 39 2 77 30

M 9 33 73 8 58 6 0 7 82 48 74 39 2 6 6 68 1 6 28 26 5 8 97 0 5 12 59 4 35 4 8 3 56 39 2 77 30

N 8 5 86 0 7 82 48 7 43 92 7 05 37 6 28 26 5 511 4 5 12 59 4 74 03 3 96 4 3 3 56 39 2 77 30

F a n c y

0 . 4

5 - 0 . 4 9


D 391683 279823 242009 217690 207260 172313 158225 154666 143891 107510 70191

E 296975 242009 221150 193370 186401 161784 147450 136674 125849 85217 58970

F248929 214230 196830 186401 175872 158225 140282 133115 122191 81461 51259

G 221150 193370 179381 172313 161784 151058 136674 129507 114875 77704 51012

H 200340 182891 172313 161784 158225 147450 133115 122191 111168 73947 51012

I 179381 158225 147450 143891 140282 129507 118533 107510 92731 70191 47156

J 151058 136674 133115 129507 125849 118533 107510 92731 85217 54867 43301

K 125849 118533 107510 103852 96487 92731 81461 77704 70191 47156 35590

L 1111 68 1 0 01 95 9 27 31 8 14 61 7 77 0 4 7 39 47 6 6 43 4 6 25 78 4 71 56 3 56 39 3 16 8 5

M 1 07 51 0 9 6 4 87 8 14 61 7 77 0 4 7 01 91 6 6 43 4 6 25 78 5 87 2 3 4 35 4 8 3 56 39 2 77 30

N 9 6 48 7 8 14 61 7 7 70 4 7 39 47 6 6 43 4 5 87 23 5 4 86 7 5 10 12 3 96 4 3 3 56 39 2 77 30


D 217393 195397 180667 165937 147153 124613 109487 90210 78643 63221 43597

E 206370 177009 162180 150910 139640 113343 94065 82499 78643 55460 39643

F 169693 158423 150910 139640 128370 109487 90210 78643 70932 51506 35639

G 139640 135883 128370 124613 120856 101776 86354 74788 67077 43597 31685

H 132126 120856 117100 113343 109487 97921 82499 67077 59365 43597 31685

I 124613 109487 105632 101776 97921 82499 74788 59365 55460 39643 31685

J 1 05 63 2 9 4 06 5 8 24 9 9 7 47 88 6 70 77 6 32 21 5 93 65 5 54 6 0 4 75 52 3 56 39 2 77 30

K 8 24 99 74 78 8 7 0 93 2 6 70 77 6 32 21 5 15 0 6 4 75 52 4 35 97 3 56 39 3 16 8 5 2 37 76

L 6 70 77 6 32 21 5 93 65 5 54 6 0 5 15 0 6 4 35 97 3 9 64 3 3 56 39 3 56 39 2 77 30 2 37 76

M 5 93 65 5 54 6 0 5 15 0 6 4 75 52 4 35 97 3 96 4 3 3 56 39 3 16 85 2 77 30 2 37 76 1 58 67

N 5 54 6 0 5 15 0 6 4 75 52 4 35 97 3 96 4 3 3 56 39 3 16 8 5 2 77 3 0 2 77 30 2 37 76 11 86 3

F a n c y

0 . 3

0 - 0 . 3

9


D 268158 222386 193667 190058 164552 131336 112552 97525 93769 66829 55263

E 208001 197226 164552 157187 149872 123822 105039 93769 86107 62974 51407

F 193667 171868 153530 149872 142507 112552 101282 89963 78396 62974 47552

G 182891 157187 138849 135092 131336 108795 97525 78396 70685 55263 39643

H 160895 142507 127579 120065 112552 101282 89963 74540 66829 51407 39643

I 149872 135092 116309 112552 105039 97525 82252 66829 62974 51407 39643

J 11 63 0 9 9 75 25 9 37 69 8 9 96 3 8 61 07 8 22 52 7 45 4 0 6 29 74 5 52 63 4 35 97 3 16 8 5

K 1 01 28 2 9 3 76 9 8 9 96 3 8 61 07 8 2 25 2 7 83 96 6 6 82 9 5 52 63 4 75 52 3 56 39 2 77 30

L 8 9 96 3 8 61 07 8 22 52 7 45 4 0 6 6 82 9 6 29 74 5 911 8 4 75 52 3 96 4 3 3 16 8 5 2 37 76

M 8 61 07 7 83 96 7 45 4 0 7 06 8 5 6 29 74 5 911 8 4 75 52 3 56 39 3 16 8 5 2 37 76 19 8 21

N 74 5 40 7 0 68 5 6 6 82 9 6 29 74 5 911 8 5 14 0 7 4 35 97 3 16 8 5 3 16 8 5 2 37 76 19 8 21

F a n c y

0 . 7

0 - 0 . 7

9


D 503494 392969 309976 303253 286447 232074 204640 201180 190800 135043 91890

E 389657 323371 293169 289858 283086 218332 187340 183880 173450 131533 84525

F 313287 309976 279675 276314 259310 214922 183880 173450 173450 124415 77160

G 299892 269492 255949 252538 242355 211462 173450 166480 163020 106472 73404

H 272903 238945 232074 221792 218332 190800 166480 156051 145571 95548 62134

I 225203 221792 194309 190800 187340 163020 138552 120856 117248 84525 54620

J 159560 156051 152590 149130 145571 142062 127974 95548 88183 58377 43301

K 138552 135043 131533 127974 124415 117248 110081 91890 70191 50814 35590

L 12 79 74 1 10 0 81 10 28 6 4 9 9 2 06 9 18 9 0 8 81 83 8 4 52 5 8 0 86 7 6 213 4 4 6 95 9 3 53 92

M 1 20 85 6 1 06 47 2 9 5 54 8 8 81 83 8 0 86 7 7 34 0 4 6 96 47 6 213 4 5 83 77 4 31 03 3 15 36

N 1 06 47 2 9 55 4 8 9 18 9 0 8 4 52 5 7 71 60 6 58 9 0 6 21 34 5 4 62 0 4 31 03 3 56 39 2 77 30


D 576749 454459 383280 347295 304341 250758 220211 213439 210028 147944 95004

E 454459 353869 324211 310964 284321 247348 199697 196287 186005 140974 87738

F 405969 337459 310964 307652 270926 243986 186005 182545 179134 126986 80423

G 327523 291044 280960 270926 254169 220211 182545 168754 168754 112948 73404

H 277599 274287 243986 240576 233804 206568 179134 165294 158324 105780 69400

I 247348 237215 216849 206568 203157 179134 161834 140974 134005 91396 61886

J 199697 192876 182545 165294 161834 147944 130545 102172 91396 61886 46860

K 151404 147944 140974 137514 134005 123476 112948 95004 73058 54373 39198

L 134005 116457 109389 105780 98613 91396 87738 84080 65692 50616 35392

M 12 69 8 6 11 29 4 8 1 05 78 0 9 8 61 3 8 4 08 0 7 67 65 7 30 58 6 56 92 6 18 8 6 4 31 03 3 53 42

N 112 9 48 10 57 80 9 8 613 8 77 38 8 0 42 3 6 9 40 0 6 56 92 5 81 30 5 0 61 6 3 91 98 3 14 8 7

Prices are in Rupees Per Carat Powered by www.idexonline.com


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 Fede

of Diamond Bourses (WFDB) The DRB™ should be used as background information only. Actual diamond sale prices may be dier compared to this benchmark, depending on demand and supply at time of transasource of the diamond certicate; uorescence; cut specications; payment and other terms of business; foreign exchange rates; special stones and other business considerations. This is published jointly by Th


MARCH 1st 2012


MARCH 1st 2012



Prices are in Rupees Per Carat Powered by www.idexonline.co

MARCH 1st 2012


D 668689 515703 464296 399839 348037 315363 255800 242405 228960 160796 98020

E 630628 438592 425691 393364 335037 308839 242405 228960 215416 153925 90852

F 509277 367512 341512 335037 308839 302264 235682 222188 208644 133066 83685

G 361037 341512 315363 308839 295690 282394 228960 215416 201872 133066 83685

H 308839 275770 269146 262523 255800 242405 222188 201872 188279 119176 76419

I 289017 255800 249078 242405 235682 201872 195100 174537 174537 112157 69054

J 208644 195100 188279 181408 174537 167667 160796 140035 140035 98020 61689

K 181408 174537 167667 160796 153925 146955 140035 133066 119176 76419 61689

L 160796 146955 140035 133066 126145 119176 112157 105138 98020 69054 46711

M 153925 140035 126145 119176 105138 98020 90852 83685 76419 61689 46711

N 146955 112157 105138 90852 83685 76419 69054 61689 61689 39198 31487

F a n c y

0 . 9

0 - 0 . 9

9 )


D 1133331 875010 700571 612487 472699 376508 311903 285953 239933 166085 110970

E 831610 706849 625092 523711 453520 357132 298903 259755 220013 153925 104050

F 731910 637696 523711 498254 440718 350656 292428 253180 208644 138701 90012

G 549167 517334 479125 440718 408638 324854 279428 246557 201872 138701 83685

H 466323 402212 382934 363607 331280 298903 259755 220013 199895 131830 76419

I 389360 344231 337755 318379 292428 253180 233310 206617 179629 117940 75776

J 324854 298903 292428 272854 253180 220013 213290 193222 166085 98020 75776

K 259755 253180 233310 220013 206617 186450 172857 166085 145522 97031 68559

L 206617 199895 193222 186450 179629 166085 152393 145522 117940 97031 68559

M 159263 152393 145522 138701 131830 124860 110970 104050 104050 82944 61244

N 152393 145522 138701 131830 124860 110970 104050 82944 75776 68559 61244


D 2335963 1637468 1441329 1184788 1023201 740115 539281 398010 317093 197522 132225

E 2004733 1399610 1142970 1077129 879063 685495 520943 391832 291983 177553 109735

F 1453242 1184788 963242 879063 806648 655145 514863 367018 273051 157435 90012

G 1101053 1017220 842880 794538 685495 606457 484167 360790 266724 150663 83685

H 891075 691575 661225 642985 600327 527072 434984 354561 266724 148537 80769

I 612537 575958 563749 502555 459600 453471 410368 323371 209484 145176 79137

J 478038 441163 434984 404189 373246 367018 323371 273051 190306 119176 75776

K 379425 373246 367018 360790 354561 342105 310816 247694 183880 112602 73799

L 317093 310816 291983 273051 260397 241367 234990 203108 151651 105978 73799

M 291983 285656 266724 247694 234990 177454 170978 164552 128518 99354 73799

N 266724 260397 241367 222287 183880 170978 151651 132225 119176 94560 66879

F a n c y

2 . 0

0 - 2 . 9

9


D 3933293 2558892 2476492 1993314 1609391 1165362 753956 500924 409626 237215 132225

E 3581253 2246890 2064098 1828020 1538459 1094084 676005 488764 397417 224709 110179

F 2352868 2087725 1798511 1497037 1443751 915394 657963 476604 342303 193222 90753

G 1993314 1668510 1585764 1272081 1189088 801853 609818 452285 317736 167864 90753

H 1384584 1372770 1278013 1040551 891519 688016 579616 379079 299299 148735 84179

I 825778 819797 813816 801853 718020 627860 500924 360740 255949 145176 84179

J 789891 603787 597708 591677 567506 482684 421836 336173 237215 135933 77605

K 531224 507004 494844 476604 446205 391337 336173 274584 199549 123081 73799

L 360740 354611 348432 342303 336173 293120 243492 218431 155111 116605 73799

M 317736 305428 299299 286941 280762 243492 205827 167864 142309 99354 73799

N 274584 262177 249720 230986 193222 186895 174241 161488 129507 94560 66879


D 1207822 933337 718119 649856 499342 423269 359406 320900 288671 197522 116605

E 1043418 841299 637400 549760 493064 416893 346603 314474 256344 177553 109735

F 779808 668541 530928 524601 474083 397813 340177 307998 249869 157435 90012

G 562316 556038 524601 480410 429646 378584 333751 301572 223819 150663 83685

H 486737 461380 404140 385010 372208 314474 301572 230393 210720 143891 76419

I 410516 372208 365831 333751 314474 295147 256344 223819 197522 117940 75776

J 346603 307998 295147 282196 262819 256344 249869 217294 177553 102814 75776

K 275721 256344 249869 236869 230393 204146 197522 184226 170880 102814 68559

L 236869 217294 204146 197522 190899 184226 164157 157435 143891 102814 68559

M 210720 197522 177553 164157 150663 143891 116605 109735 109735 88925 67867

N 190899 177553 170880 157435 130297 123427 109735 88925 75776 74936 61244

F a n c y

1 . 2

5 - 1 . 4 9


D 1615768 1098829 837641 758256 672396 549167 449467 373839 303846 197522 128518

E 1110939 989737 831561 745998 623213 530582 436862 354809 271865 177553 109735

F 971547 892459 801063 666267 555346 511897 430585 348482 265439 157435 90012

G 782675 733739 610905 555346 518125 468250 399098 342105 259013 150663 83685

H 660138 549167 518125 480756 461973 405425 354809 303846 226785 148537 80769

I 499441 474479 455745 424307 386493 367463 303846 271865 200933 128518 75776

J 361136 354809 348482 342105 316649 303846 265439 246161 181458 108202 75776

K 322976 291044 278241 271865 265439 259013 226785 194458 174933 102814 73799

L 278241 233260 207408 200933 194458 187982 181458 168359 143891 102814 73799

M 226785 220359 200933 181458 168359 161784 148537 141914 128518 94560 73799

N 200933 194458 187982 174933 141914 135191 128518 121796 108202 94560 66879

F a n c y 4 . 0

0 - 4 . 9

9


D 4234273 3561283 3156946 2887107 2323408 1327937 937391 549810 441410 252587 140431

E 4012035 2775643 2623003 2164688 1994154 1209700 866112 507745 411159 227971 114974

F 2523154 2241107 2111748 1988272 1964744 1150533 717279 483673 380809 209435 95696

G 2011801 1911755 1617201 1611319 1569996 1138719 687423 471612 356489 190750 90753

H 1493280 1487398 1481516 1475584 1286564 961067 681442 405079 326040 171967 89271

I 978862 972931 966999 961067 937391 812629 597708 386889 295542 153085 84179

J 866112 836405 818561 776891 758998 657518 471612 350409 246458 135933 82795

K 549810 543779 537798 531768 525787 519756 411159 295542 199549 127727 76320

L 453471 435379 429300 423269 417189 374729 326040 221792 155111 127727 76320

M 368698 356489 350409 344329 332170 313881 252587 171967 153085 127727 76320

N 277154 264895 252587 240279 221792 215614 196979 165689 153085 121351 69845


D 6475182 5384459 4293243 3586097 3106478 1980561 1474793 771800 629145 359504 188773

E 5326132 4526799 3673835 3129858 2860514 1763069 1014452 521684 425790 237907 145275

F 4182272 3434050 3270338 2913256 2491272 1504254 955334 503741 413779 213389 107411

G 3211813 2473675 2438481 2280008 1745423 1327443 907980 473787 389706 194902 101035

H 2350446 2121536 1945318 1892428 1610182 1185826 825086 419809 335284 182594 94658

I 1674886 1480676 1286169 1280237 1250777 1067688 742142 401718 298903 170187 94658

J 1327443 1215335 990824 984893 961265 842880 658902 383676 256245 164009 88233

K 990824 842880 759937 754005 700522 557521 461824 304934 201081 132720 88233

L 730279 605270 509722 497760 449813 425790 341364 231777 157781 132720 88233

M 545608 449813 401718 377645 341364 317093 262325 182594 157781 132720 81807

N 407748 377645 341364 292774 237907 219519 201081 170187 153085 121351 75381


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 Fed

of Diamond Bourses (WFDB) The DRB™ should be used as background information only. Actual diamond sale prices may be dier compared to this benchmark, depending on demand and supply at time of transsource of the diamond certicate; uorescence; cut specications; payment and other terms of business; foreign exchange rates; special stones and other business considerations. This is published jointly by T



MARCH 1st 2012

32



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34 IDEX MAGAZINE INDIA RETAIL| NO 16 COVER STOR

Looking At MoreStable Diamond

Prices, Steady

Availability This

Year BY VINOD KURIYAN



IDEX MAGAZINE INDIA RETAIL| NO 16 COVER STORY

It appears that this year is going to beone that is characterised by relativelystable levels of diamond productionalong with prices that will be more orless the same through the year. This, sayindustry analysts, is a great opportunityfor the jewellery retail industry that nowhas an opportunity to actually plan itsbusiness based on a relatively stablediamond prices and availability as againsthigh, and wildly oscillating gold prices.

In the Indian consuming market, these huge priceoscillations have made even the die-hard gold enthusiastnow look askance at the yellow metal as a means ofinvestment. So much so that diamonds have madevery firm inroads into the bridal market, once the sole

preserve of gold. The inroads made by diamonds into thebridal market were highlighted when last year, diamondgiant De Beers launched its proprietary Forevermarkbranded diamonds in India. CEO Stephen Lussier toldIDEX Online, “The Indian bridal market will alwaysbe very important to us — we see ourselves playingan important role growing the diamond engagementring category and also ensuring that we enjoy a largershare within the more traditional bridal purchases. Weare seeing an increasing preference for diamonds from



IDEX MAGAZINE INDIA RETAIL| NO 16 COVER STOR36

Two major factors have impacted diamond prices. To begin

with, there is still a great deal of economic uncertainty

in the world and consumers are right now not willing to

pay higher prices for diamonds, their increasing scarcity

notwithstanding. There are also a whole range of other

luxury products and services that are available to them.

modern brides which we believe will work in our favour.While we are a global brand, we are looking forwardto working with India specific gifting moments such asDiwali, Karva Chauth and weddings to help build thebrand.”

Forevermark infused the high fashion pull of such namesas Tarun Tailiani and Rohit Bal – already big names in

the bridal market – into the bridal jewellery segment byworking with them to develop bridal jewellery sets. Indianbridal jewellery is spectacular and was thus seen as thebest platform to launch the proprietary diamond brandin India.

The diamond growth story seemed to be continuing whenDe Beers posted its financial results for the financial yearthat ended on the last day of 2011, CEO Philippe Melliersaid it had been an “exceptional year” for the company.Indeed, sales had grown 26 percent over the previous

year to a whopping $7.4 billion (Rs.36,534 crore).What was interesting, however, was that the volumeof diamonds sold in carats, had actually decreased to31.3 million carats from 33 million carats the previousyear. Diamond prices, Mellier said, had risen 29 percentbetween January and December of 2011.

In fact, last year, many diamond dealers had expressedthe worry that the rapid increase in diamond priceswas actually eroding one of the factors working in




their favour as analternative to goldthat was not onlyexpensive but also hadwild fluctuations in price.“The fact that for anygiven price, one could geta nice diamond as against adrastically reduced amount ofgold was something that spurreddiamond sales,” said one broker.“But,” he added, “the steep increasein diamond prices last year wiped andeven reversed that pull factor.”

That prices would rise – and continue to doso over the next decade at least, was a givenaccording to all the mining companies. Thelogic was simple, global demand for diamonds,

particularly from the emerging markets of Chinaand India, had far outstripped supply. The world’smajor mines had all peaked in output and werenow on the decline. No new mine to supplant themhad been found. It normally takes between 7 and 10years for a mine to enter commercial production fromthe time it is discovered. Hence the optimistic forecaston diamond prices for the coming decade by the miningcompanies.

The second factor, say Indian diamonddealers, is the fact that rough diamonds

from Zimbabwe’s Marange alluvial

diamond deposits have now been cleared

by the Kimberley Process and are now

coming onto the processing market.




So it was somethingof a surprise to

hear Mellier say inresponse to a question

from IDEX Magazine– India Retail, that he

couldn’t be sure if there

would be a gap betweensupply and demand this year.

Or that diamond prices woulddefinitely continue their steady

upward movement.

Mellier said that De Beers plans tokeep its diamond output much the same

as last year – between 31 and 32 millioncarats. Given that the US economy, which

still consumes about 40 percent of all thediamonds produced in the world even after the

economic downturn, is now showing increasingsigns of recovery, diamond prices should show

even stronger signs of climbing up towards the sky.

In fact, diamond dealers say that barring any majoreconomic shocks (they have a wary eye on Europe as

well as the still nascent recovery in the US when theysay this) diamond prices are expected to remain moreor less unchanged over the year.

Two major factors have impacted diamond prices.

To begin with, there is still a great deal of economicuncertainty in the world and consumers are right now notwilling to pay higher prices for diamonds, their increasingscarcity notwithstanding. There are also a whole rangeof other luxury products and services that are availableto them.

The second factor, say Indian diamond dealers, is thefact that rough diamonds from Zimbabwe’s Marangealluvial diamond deposits have now been cleared by




the Kimberley Process and are now coming onto theprocessing market. There are substantial quantitiesof these diamonds and given the reduced consumerdemand, they more than fill the shortfall in supply. Asa matter of fact, several analysts pointed to aggressiverough diamond supply from Zimbabwe – production has

reportedly been revved up to a million carats a month– as the main catalyst for a softening in diamond pricesover January this year.

Added to this is the fact that the Indian diamondprocessing industry, having drastically reduced itsworkforce during the economic downturn, has notbeen able to attract back enough skilled labour to comeback up to its pre-2008 production capacity. There isn’tgoing to be the much-talked about shortfall in supply

after all. However, diamond dealers caution thatbuyers who want specific goods in substantial

quantities, will still face “shortages” in that thespecific goods in the quantities needed,

might be hard to come by at the pricepoints expected. “We have buyers in

the Mumbai market today, who are

ready to snap up goods that areanywhere in the region of the

specific goods they are lookingfor,” said one dealer, “they

know they can’t affordto let what they have go

because they might neverget the specific goods they

are looking for.”

The De Beers CEO respondedcautiously to the question of how much

he thought the supply shortfall would beby saying that due to the uncertain global

economic outlook, he could not say what if any,the shortfall between diamond production and

consumer demand would be through 2012. He alsosaid that he could not comment on when or whether

rough diamond prices would increase this year.

In an indirect acknowledgement of the fact that diamondprices may have actually gone over the top in 2011and thus run out of steam to keep their upward trend,

he noted that rough diamond prices had to be seenin context of the huge price increase over 2011. Thisincrease had been strong over the first half of the year,fading out and rolling back towards the end of the year.Any consideration of prices would, therefore, have totake the strength of demand into consideration.

Mellier observed that all economic forecasts for the firsthalf of 2012 were uncertain, with greater clarity of outlookonly coming in the second half. The CEO observed that

“The Indian bridal market will always be

very important to us — we see ourselves

playing an important role growing the

diamond engagement ring category and

also ensuring that we enjoy a largershare within the more traditional bridal

purchases. We are seeing an increasing

preference for diamonds from modern

brides which we believe will work in our

favour. While we are a global brand, we

are looking forward to working with India

specific gifting moments such as Diwali,

Karva Chauth and weddings to help build

the brand.” / CEO Stephen Lussier /




the softness in the market had made De Beers’ clients,the Sightholders, who are among the world’s largestdiamond dealers, “nervous and cautious.”

He however noted that despite the economic uncertainty,all luxury goods had held up well in consuming markets,with strong demand all over the world, making him lookforward to an exciting 2012.

This optimism is real in that De Beers is looking atexpanding its mining capabilities by acquiring anothermine. Though unwilling to comment directly on thesubject, the company is clearly interested in the

possibility of buying the Ekati diamond mine in Canadafrom BHP Billiton. In response to a question, De BeersChief Financial Offi cer Gareth Mostyn said that while

De Beers was “interested in all opportunities like that ofacquiring the Ekati mine,” he could not disclose what ifany plans the company had in regard to this.

In its outlook statement, put out along with this annualresults, De Beers noted, “In spite of uncertainty, andbarring a global economic shock, we expect to seecontinued growth in global diamond jewellery sales,albeit at lower levels than the exceptional 2011 growth.This will be driven by the overall strength of the luxury

“In spite of uncertainty, and barring a global

economic shock, we expect to see continued growth

in global diamond jewellery sales, albeit at lower

levels than the exceptional 2011 growth. This will be

driven by the overall strength of the luxury goods

market, improving sentiment in the US (the largest

diamond jewellery market), continuing growth in

China, and the positive impact of the 2011 polished

price growth on retail jewellery prices.”




This is part of a larger trend in luxury consumption. Areport by the Confederation of Indian Industry (CII)and the consulting group A.T. Kearney noted that luxuryconsumption in India had continued to grow strongly last

year, despite the economic slowdown and uncertainty inthe rest of the world. What was more, the Indian consumershowed clear signs of aligning with global demand.

The report stated, “Consumers today are accepting andadopting international customs and trends at a muchfaster pace than anticipated. India no longer continues tobe the ‘lagging’ market that takes time to adapt to globalchanges. Consumers are well informed and increasinglydemanding about latest trends – especially in the luxuryBut now, the Indian consumer has also aligned with the

worries that are keeping consumers in other marketsfrom buying strongly. Strong demand is now temperedwith caution and a worry about the economic situation inthe rest of the world.

In such a situation, say analysts, a product with steadysupply and relatively stable prices will come across asthe purchase of choice for luxury customers. Diamondslook like they might provide just the thing that the Indianjewellery retailer is looking for this year.

goods market, improvingsentiment in the US (the

largest diamond jewellery market),continuing growth in China, and the

positive impact of the 2011 polishedprice growth on retail jewellery prices.”

Along with this sunny outlook, however, thecompany noted, “On the production front, we will

continue to prioritise waste stripping and maintenancebacklogs, and we therefore do not expect a materialincrease in carat production in 2012. This focus, whichbegan in H2 and will continue during Q1 2012, willposition De Beers to ramp-up profitable carat productionas Sightholder demand dictates. In the medium to longer

term, the industry fundamentals remain positive withconsumer demand, fuelled by the emerging markets ofChina and India, outpacing what will likely be level caratproduction.”

In 2009, India represented 7 percent of global diamondconsumption. This was projected to grow to 11 percentin 2016, but many analysts think diamond consumptionin India has crossed that mark. And though growth hasslowed noticeably, the outlook is still positive.




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One of the busiest booths at the show was Pesavento, an

Italian-based company offering big, bold and beautifuldesigns. One of the most eye catching collections in

its vitrine was the “Dreams Dust” line, whose pieces –

including rings and bracelets – are coated in an application

of colored reflecting particles. While the products were

certainly attractive and unusual, undoubtedly part of the

company’s popularity at the show was because it works

only in silver.

The use of innovative silver design certainly seemed to be

a winning formula for Vicenza-based Adami & Martucci.

Designer Alberto Luzzi specializes in silver mesh to create

eye-catching products at an accessible price point. “People want big jewelry, but they also need it to be affordable,”

said the company’s Henrik Michel. He said that although

visitor numbers were down, especially over the September

Vicenza show when people were stocking up for the holiday

season, the company was very pleased with the amount of

buyers it had seen.

Some designers circumvented the price constraints of

precious metals by doing away with them altogether.

fter getting off to a slow start, the Vicenzaoro

Winter show picked up speed and by the time thefair finished, many exhibitors were quietly pleased with how

business at the show had been. It is hopefully a harbinger

of good things to come this year.

The show rebranded itself, yet again. It had a new name

– again – and a new logo. It is also trying to differentiate

itself from the other trade fairs in the industry’s crowded

show calendar with the launch of Trend Vision Jewellery

+ Forecasting, a permanent research center specializing

in discovering the latest trends in the world of jewelry,

watchmaking and high-end accessories.

If the show’s brand was undergoing something of a

transformation, some of the product offerings at the fair

were also evolving to reflect the new reality of a post-

economic downturn world that is still unsure of its footing.

In the past, Vicenza has always been the gold show. This

year,exhibitors with silver product lines were displaying

the fact proudly in their vitrines, no doubt in the hope of

attracting buyers suffering from gold jewelry sticker shock.

A

by Danielle Max

Silver ShineSAt vicenzAoro Winter

a imgs: Fr d Vcz

50 iDex MaGaZine INDIA RETAIL| NO 16 SHOW REP

Sw rp



A growing number of companies are offering pieces strung

not on gold, platinum or even silver chains, but on brightly

colored material or leather straps. This direction was seen

to great effect in the windows of The Fifth Season, the

newly launched brand from Roberto Coin.

Another trend reflecting the changing economic reality was the emphasis on using a lower karatage of gold. While

some companies had 14 karat gold pieces to tempt buyers

looking to save, a new company was hoping to change the

face of the gold jewelry industry completely.

Vicenza-based One Karat Gold took the opportunity to

launch its 1 karat gold alloy at the fair. Containing just 1

karat of gold (4.167 percent) the product’s creators are

hoping that designers and manufacturers will licence the

material to create their own collections.

In some ways, it makes a lot of sense. Designs have beengetting smaller and thinner over the past few years, as

designers seek ever more innovative ways to counter the

escalating prices of gold. With a much cheaper 1 karat gold

alloy, manufacturers – especially at the lower end of the

market – can create large, exciting pieces, without breaking

the bank. Whether it catches on with designers, and with

the buying public, is another matter altogether.

One designer who is – for the most part – keeping her

materials precious is Isabelle Langlois, who decorated

her small display case in the “Glamroom” trend hall with

macaroons. The colors of the patisseries perfectly matched

the French designer’s candy colored jewelry, which relies

heavily on perfectly cut gemstones.

Langlois said she was very pleased with the performance of

the show. She saw a far larger number of visitors than at the

previous edition of the fair in September and certainly far

above the numbers who visited the exhibition in January 2011.

“Last January, just the first two days were busy, but after

that the show really emptied out,” she said. “I didn’t see a

single client during the final four days of the show.” That

was not the case this year. As for who she was seeing,

Langlois said there were a lot of Americans, as well as many

Turkish wholesalers. She had sold to clients from Austria,

Germany, France, Japan and America, among others.

Although Langlois said the increasing price of precious

materials and the continuing economic uncertainty had not

really affected her designs, she admitted she was relying more heavily than ever before on pearls. “They are still

precious, but they can give you so much more volume,” she

said. Since the September show, she has also added a new

stainless steel and gold line but, other than that, remains

committed to working exclusively in gold.

Over in the B1 hall, which houses some of the biggest

names at the show, such as Cielo Venezia, Fope and Zydo,

a first time exhibiting company was thrilled at how well the

show had performed. While Brumani may be a well-known

name, the only European show it had previously exhibited

at was Baselworld; a situation it has been trying to rectify

iDex MaGaZine INDIA RETAIL| NO 16 SHOW REPORT



for the last three years. Now, with its inaugural debut at

Vicenza, Eduardo Brüner, marketing and style director for

the company, was extremely enthusiastic about the show.

“As first time exhibitors, the show has been well ahead of

my expectations. We have seen regular and new clients,” he

said in between appointments. Among the countries he did

business with were South Africa, Turkey, Kazakhstan, the

Ukraine, Italy and Portugal.

Although Brazil currently has such a strong economy, and

a thriving domestic retail market, Brüner was conscious

of the effects of the situation on the rest of the world.

“The crisis exists, and our clients are feeling it, but they

are looking for something new and unusual to introduceto their customers to catch their attention; we are doing

that.”

Proving that it’s all a matter of expectations, diamantaires

exhibiting at the Vicenzaoro Winter show expressed a

range of opinions about how the first trade fair of the year

went. Those who came with low expectations found that

business was better than they could have hoped for, while

others who felt that the show would get them off to a good

start to the year were slightly disappointed.

Part of the issue is that Vicenza is a minor show for diamondtraders. At the industry’s major trend affair, diamonds are a

sidelined product with diamantaires located away from the

action in the main halls.

The position was a concern for Jeetu Jain of first-time

exhibitor HD Diam, which sells items below 5 points. He

thought business would have been better if the diamantaires

had been closer to the center of the exhibition. The show’s

layout, he said, was not conducive to browsing. “Once they

visit, they don’t come back,” he said of potential clients

who tended to walk past the booths, never to be seen again.

Even so, business had been good for the company, albeit

below expectations. “One of the reasons we have had such

good trade is because we specialize in smaller goods.”

In terms of what was selling, Jain said that VS-SI goods

had been particular popular.

In the next booth, Bufi Raffaele of Ideal Diamonds was

somewhat less enthusiastic about the show, which he said

was very disappointing. “Visitors are down something like 30

to 35 percent,” he estimated, adding that for the most part

the customers he had talked to were not interested in buying.

With designers and manufacturers cutting back on costs by

opting for smaller, lower quality goods, Raffaele said it was

not so surprising that his business was down at the show

since his company specializes in higher quality goods.

The trend of downsizing in both quality and size was

something that Patrick Bornstein, director of Antwerp-

based Bornstein Diamond Corp., had also noticed. Even

with customers ignoring his larger goods, Bornstein said

trade at the fair was better than expected, although, he

wryly added that expectations had been very low to begin with.

While it did not surprise Bornstein that the most popular

items were the smaller, cheaper items of SI2 quality, what

did amaze him was that for the first time in a few years he

was also selling some fancy shapes, including hearts, ovals

and marquis. “It’s always rounds in Europe,” he said. “I’m

surprised and happy about the fancies. A lot of people have

fancies in stock; it’s been a difficult item for a long time.” iDeX

52 iDex MaGaZine INDIA RETAIL| NO 16 SHOW REP



IDEX MAGAZINE INDIA RETAIL| NO 16: INDUSTRY NEWS

Indt Ne

DIamoND TraDINg CompaNy’sNew SyStem AllowS oNgoiNg ChANgeS iN ClieNt liSt

he “dynamic distribution” system for rough diamonds

of the Diamond Trading Company (DTC), the rough

diamond sales arm of mining giant De Beers, will let it

continuously assess the manufacturing industry and allow

it to alter its client list on an ongoing basis. The DTCnormally assesses the market and the strengths of diamond

manufacturers and appoints a list of clients to whom it

will supply rough diamonds for a three-year period.

These clients, called Sightholders, indicate their choice of

diamonds along with quantities and get to buy diamonds

from the DTC ten times a year. The DTC’s new client list

has recently been announced and the contract period runs

through till 2015.

T Varda Shine, the DTC’s CEO, said at a press conference in

Mumbai in February that the new system would allow the

addition of clients to the list based on market dynamics

and manufacturers’ buying performance. Shine was

accompanied by Mahiar Borhanjoo, the DTC ExecutiveDirector of Sales and Sightholder Services. She said that

90 percent of the DTC’s rough supplies were allocated

for distribution to Sightholders while the remainder was

sold at auction through its “open market” Diamdel rough

diamond sales system.

If the DTC observed that a certain category of goods

wasn’t being bought by Sightholders and that someone was,

Shine (left) and Borhanjoo at the press conference.



IDEX MAGAZINE INDIA RETAIL| NO 16: INDUSTRY NEWS

Four INDIaN DIamoND DEalErsAppoiNted CoNSulS geNerAl

function was held in Mumbai on Valentine’s Day

to felicitate four Indian diamond dealers who

have been appointed Consuls General of four different

countries. Harshad Mehta, Chairman of Rosy Blue, has

been appointed Consul General for Armenia, Vishal Doshi,

Group Executive Director of Shrenuj for Botswana,

Shreyas Doshi, Chairman and Managing Director of Shrenuj for Finland and Kishore Virani Chairman of

KARP Impex for Lesotho.

The event was hosted jointly by the Gem & Jewellery Export

Promotion Council (GJEPC), the Bharat Diamond Bourse

(BDB), the Mumbai Diamond Merchants Association

(MDMA), and the Diamond Exporters Association Ltd.

(DEAL). Anoop Mehta, President of the BDB, Bharat

Shah, President of the MDMA and Arvind Parikh,

President of DEAL, were present at the occasion.

GJEPC Chairman Rajiv Jain, speaking at the event said,

“It is not only an honour and distinction for the Consuls

General, but for our entire industry to have four individuals

selected for this honour. This is no doubt in recognition

of their efforts in establishing trade relations with thesecountries. I would like to believe that it is also a recognition

and great credit for our industry, which has taken such

rapid strides in these past few decades to emerge as the

leading diamond center in the world, a strong jewellery

manufacturing centre and exporter, a front-ranking

manufacturer and exporter of coloured gemstones and

nally, one of the most promising and fastest developing

markets for the gems and jewellery segment.”

IDEX

a

The four consuls general with GJEPC Chairman Rajiv Jain (second from left) and hosts.



Google Earth image

manj gan (abv) as abc b s -ca v an

acccs a h wns man b (a cn f

b), bb an n .

orDErINg EXpENsIvE JEwEllEryoN phoNe leAdS to Jeweller’S murder

anoj Kumar Grandhi of Vaibhav Jewellers in

Vishakhapatnam, was brutally murdered on

February 7 in Bangalore by the driver of his hired car and

two accomplices. Grandhi was a

director of the All India Gems and

Jewellery Trade Federation (GJF).

Grandhi was in Bangalore on a

buying trip for high end jewellery.

Having picked him up at the

airport, the driver overheard

Grandhi making enquiries aboutexpensive diamond jewellery on

his mobile phone, as they drove

from shop to shop.

Having dropped him off at a

wedding and jewellery exhibition

at the Palace Grounds, the driver

phoned two of his colleagues and

told them that Grandhi would be

carrying very high value jewellery

and diamonds on his person.

The next morning, having picked Grandhi up at his hotel

for the drive to the airport, the driver feigned problems

with the car’s lights and gear box as the car went over the

Windsor Manor bridge. He pulled

up next to a black car in which his

two colleagues were waiting. They

barged into Grandhi’s car and the

driver then headed onto a secluded

road paralleling the railway tracks.

Despite his pleas for the three

to spare his life and just take thejewellery, Grandhi was garroted

with a wire and towel. The three

then drove back to the bridge to

pick up the black car and both cars

then headed towards Bangalore

airport. Along the way, Grandhi’s

body and the jewellery were

transferred to the black car, which

then headed off to a secluded

hillside. Grandhi’s body was ung

into the valley.

m

IDEX MAGAZINE INDIA RETAIL| NO 16: INDUSTRY N56

Meanwhile, the rst driver drove on to the airport and

having waited for a while at the check-in zone, called his

ofce to say he had dropped Grandhi off at the airport.

He then returned to the ofce and produced a normal trip

sheet.

Police were initially unable to make headway in the case

as they worked on the assumption that Grandhi had

safely reached the airport. Under sustained interrogation,

however, the driver broke down and confessed to the

crime. The other two drivers were then picked up and

based on information from them, a search for the body was

instituted. Grandhi’s body was found hanging on a tree, 150

feet below the road in the valley, on February 9.

IDEX



Diamond cuts have come a long way since the

introduction of the first round brilliant. Thanks to

advances in cutting technologies and the unlimited

imaginations of cutters, diamonds can be cut in

an incredible variety of ways. Today, fancy cuts – shapes like

cushions, princess, ovals and marquise – are more important

than ever, maintaining their popularity against the still-dominant

round. They will always attract the diamond buyer who loves the

unique qualities that make them shine in their own special way.

Fancy cuts do receive quality rankings on trade price lists. But

buyers are less likely to follow strict guidelines when they deal infancy-cut diamonds. They don’t like to buy fancy-cut diamonds

without seeing the actual stones, because each stone is unique.

While the word “cut” can refer to a gem’s proportions and finish,

we are referring to shape and cutting style. Shape refers to the

face-up outline of a gem, and cutting style is the arrangement

of its facets.

PoPular cuTs

The face-up shape of a fashioned diamond is usually the first

thing you notice about it. A triangular, square or pear-shaped

outline stands out immediately in a crowd of rounds. Because

shape is so noticeable, it’s often a major selling point of a fancy-

cut diamond.

A diamond shopper often comes into a jewelry store with a

specific shape already in mind. Fancy cuts provide a way for

many customers to express their individuality, can appeal to

less traditional consumers, and be versatile design elements

in multi-diamond jewelry.

Whether a fancy cut is newly popular or traditional, it’s a good

idea to be familiar with its appearance and uses. Because they’re

all so different, each fancy cut has its own set of variables.

BrillianT-cuT sHaPes

Diamond manufacturers have long experimented with a variety

of shapes and cutting styles. More recently, they have worked

to make brilliant-cut fancy shapes in an attempt to bring the

round brilliant’s superior light return to oddly shaped or low-

color rough. At the same time, this has led to new cuts that

have increased profits by increasing rough yield.

Cushion: A classic brilliant cut that’s generally rectangular or

squarish with slightly curved sides and/or rounded corners. One

traditional trade term for the brilliant-cut cushion is “antique

cushion.”

Half-Moon: This cut resembles a round brilliant divided in half

from table to culet, creating a half-circle face-up outline. Broken

rounds are occasionally recut into half-moons.

Heart: A brilliant cut with a heart-shaped face-up outline. This

classic cut has a shield-shaped table and culet, 32 crown facets,

and 24 pavilion facets. The heart is a symbol of romance for

many customers.

Marquise: An elongated, elliptical brilliant cut with curved sides

and pointed ends. It’s also called a navette, from the Latin for

ship, because its face-up outline resembles a little boat. The

marquise gained popularity in the 1970s, especially in bridal

jewelry, but lost ground to the princess cut by the beginning

of the 21st century.

What Are Fancy-Cut Diamonds?

58

The article “What Are Fancy Cut Diamonds?” is the first of a series issued by GIA(Gemological Institute of America).

From left: cushion, square-emerald, emerald, Radiant, oval, marquise and pear-cut diamonds.

Photograph by Robert Weldon © GIA



Oval: A classic brilliant cut with an elliptical girdle outline

that closely resembles the round, making it a good choice for

customers who appreciate something that’s just a little bit

different.

Pear: The face-up outline of a pear-shaped brilliant cut diamond

is rounded at one end and tapered to a point at the other. The

facet arrangement is a variation on the round brilliant cut. Pears

can be almost as brilliant as rounds, yet provide a pleasing

departure in a shape that’s traditional and timeless. In addition,

a large pear cut diamond tends to look more graceful on the

finger than a round of the same weight. A long, narrow pear is

sometimes called a pendeloque.

Princess: A square or rectangular brilliant cut developed in the late

1970s. Princess cuts surpass round brilliants in yield, retaining

about 80 percent of the rough from which they’re cut. (Round

brilliants typically only retain about 50 percent.) Their angular

shape and considerable brilliance have made them popular

alternatives to rounds and they are often used

Radiant: Patented in the late 1970s by Henry Grossbard, the

Radiant cut is a square or rectangular mixed cut with beveled

corners. The Radiant’s angular shape and brilliant-cut facets

make it a scintillating alternative to the emerald cut. Radiants

retain about 60 percent of the rough from which they’re cut

and can be used to concentrate color and shift a diamond into

the fancy-color category.

Semi-Navette: A three-sided fancy cut with two rounded sides

that’s similar to the triangular brilliant, but is actually one-half

of a marquise. Broken marquises are sometimes recut into

semi-navettes.

Shield Brilliant: This cut resembles a warrior’s shield in outline.

The number of sides, as well as their lengths and angles, tends

to vary.

Star Brilliant: This whimsical brilliant cut – a five-pointed face-

up outline – is fairly uncommon because so much weight is lost

during fashioning.

Triangular Brilliant: This cut’s facets add sparkle to its angular

shape. It’s a shallow cut designed to make efficient use of flat

rough and is a practical cutting option for a macle. It has acontemporary look that’s popular as matched side stones.

Triangular brilliant cuts are also known as trillions; there are

proprietary triangular cuts called the Trielle and the Trilliant.

Fancy cuts have some special shape components with special

names. The central area of the side of a pear, marquise, heart

or oval, where it curves out slightly, is called the belly. This is an

important location on a stone: It’s where the width is measured.

The area between the belly and the point is called the wing.

The rounded end of a pear is called its head. The curved edges

between the head and the belly of a pear or oval are called

shoulders. The rounded portions of a heart shape are called lobes,

and the V-shaped indentation between them is called the cleft.

Because their pointed ends can be vulnerable to breakage,

some marquises, pears and hearts are cut with French tips.

This faceting variation increases durability by replacing the

large bezel facet at the point with star and upper girdle facets.

The bottom of a fancy cut, where the pavilion facets meet, is

called the keel line. It runs the length of the stone and sometimes

includes or passes through the culet.

Gem and Jewellery resources in india

GIA grading reports and professional training are essential

tools for enhancing consumer trust in the retail associate’s

expertise. As India’s market for diamonds and gems continues

to dramatically grow, so too have the resources available to

jewellery professionals. They include:

GIA Laboratory – GIA tests every diamond it grades for

laser drilling, fracture filling, irradiation, high pressure/high

temperature (HPHT) and chemical vapor deposition (CVD) to

detect known treatments and separate natural diamonds from

synthetics.

GIA’s laboratory in India, located in Mumbai’s 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.

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, irradiated or HPHT processed, these treatments

are prominently disclosed on the report.

GIA Professional Training – GIA’s Mumbai campus offers a wide

variety of courses and instructional formats to meet the diverse

needs of India’s jewellers and manufacturers. These formats

range from on-campus programmes, lab classes, skill-buildingseminars and workshops, to customised corporate programmes,

and online learning designed to minimize disruption to work

schedules. Courses emphasize hands-on practical training,

and include grading and identification of diamonds, coloured

gemstones and pearls; the detection of the latest treatments

and synthetics; professional sales training and jewellery design.

GIA courses are continually updated to ensure the most timely

and accurate information and are taught in local languages

throughout India.

idex india retail, march 2012

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