Since the past few months there has only been one hot topic of discussion amongst jewellers, that is the fact that diamond prices are going high. Recently i read an article that stated rough and polished diamonds have risen by nearly 10% since this year and in the last six months the prices have surged 40-50%. The major reason for this increase is that the two miners, Rio Tinto and De Beers have become scarce in diamond production over the last two years due to the slow down in mining process. The other reason is that there is a shortage of resources in productivity. Even though we all are aware that there are price increases in diamond , the problem that most retailers are facing is how to explain this price increase to the customers. Most customers in India have the mindset that gold is for investment and diamonds are just for adornment. This is why no one has much of an issue paying for gold but clients refuse to understand that diamond prices are also increasing. What we think as an organization is that the best way to justify this increase in prices is simply by explaining and educating the client about the industry. This will bring about transparency in the industry and everyone will come out a winner. Do let us know your feedback, we look forward to hearing from you all.
Varuna D Jani represents the third generation of Popleys, one of India's most trusted and respected jewellers since 1927. Being a celebrated designer herself, Varuna and her father, Ramchand Popley have been known for their exquisite designs and flawless craftsmanship. A brand by herself, Varuna brings a breath of fresh air and originality to classic style and understated elegance.
