Shifting Traditions: Evolution of Gold Jewellery in India's Festive Season
As India gears up for the festive season, there is a noticeable shift in the world of gold jewellery. Traditional gold jewellery designs, long cherished for their intricate craftsmanship and timeless appeal, are making room for sleek, contemporary alternatives. This evolving trend is capturing the imagination of fashion-conscious individuals, who are seeking a modern twist on age-old traditions.
With the festive season on its peak and Indians out to shop, here is a look at how the shift is actually making Indians shine every moment.
The Changing Landscape of Festive Jewellery
Diwali and other major Indian festivals have always been synonymous with opulent gold jewellery. Families have passed down heirloom pieces for generations, each carrying a piece of history and cultural significance. However, this year, many are opting for a more minimalist and sophisticated look.
Joita Sen, Director and Head of Marketing & Designs, Senco Gold & Diamonds, says, “With every passing year, new emerging trends are noticed. These days as the market changes from traditional chunky jewellery to sleek, designer jewellery, there are certain jewellery pieces that every fashionista consider having in their collections. Starting from layered necklaces that adds a touch of elegance to any outfit when worn in different ways, to Hoop Earrings that are available in various sleek styles making them easy to incorporate them to any outfit. Jewellery trends come and go, whether one prefers delicate or simple pieces or bold and daring designs, there’s something for everyone in the jewellery world and one can create a personalised look by experimenting with the different stylish designer jewellery that are available readily in the market.”
Sen adds that the light weight and daily wearable jewellery are picking up momentum at a rapid pace due to its liking and acceptance by contemporary young customers.
Sen’s sentiments are echoed by Baruni Verma, Founder and CEO at Starkle. “India's festive spirit shines brighter as elegant, lightweight jewellery take centre stage in the season's shopping spree. The millennial and gen-Z consumers are heralding a disruption in buying practices with their preferences for digitised assets and contemporary styles.”
Verma says that the demand for sleek and sophisticated pieces has surged, reflecting a desire for daily wear utility and trendy, modern designs. “In a stark contrast with previous generations, the average consumer mindset is gravitating more towards owning several lightweight pieces of gold jewellery or digital assets rather than a single heavy piece which would hardly see the light of day.”
Influence of Contemporary Designers
Contemporary jewellery designers are at the forefront of this transition. They are fusing modern aesthetics with traditional craftsmanship to create pieces that are both elegant and easy to wear. Moreover, these designers are incorporating gemstones, diamonds, and various metals like rose gold, white gold, and platinum to add an extra layer of sophistication to the pieces. This blending of materials is capturing the attention of the younger generation.
Rohan Narang, Managing Director, Hazoorilal Legacy says that Gold has cemented its popularity, blending the best of tradition and modern trends. “As the fast fashion industry continues to surge, individuals are leaning towards jewellery that offers versatility and adaptability, allowing them to showcase their unique style and creativity.
Our gold collections align with these principles, featuring lightweight, budget-friendly pieces as well as design centric statement pieces that provide the freedom to stack or wear individually. In line with this, we have introduced the Zoori Gold collection that is versatile and timeless, perfect for the upcoming festive season.”
Talking about his brand, Narang says, “At Hazoorilal Legacy, we do not see jewellery as a commodity or as a means to an end. For us, each piece of jewellery has its own story and persona - it is greater than the sum of its parts, which come together to form a tangible, unique work of art that is an extension of our knowledge, experience and vision.”
Rajiv Chandrashekhar Menon, National Head (Sales and Retail Operation), Mia by Tanishq says that today, the consumer likes contemporary designs that they don't have to keep in their lockers but can wear them whenever they want to. "The big, huge pieces of jewellery have now become occasional only. For the modern day consumers, a big piece requires an occasion to wear and then they are back in the locker. They were considered investment as people felt that only big pieces can be returned, sold or exchanged. But brands like Mia not only offer contemporary designs but also offers and options to exchange the pieces which make them a good choice for the consumers," says Menon.
Consumer Preferences
The changing tastes are not limited to the metropolitan areas; they are spreading to smaller towns and cities across India. Young consumers, in particular, are leading the charge, choosing modernity over conventionality.
As per Saumitra Saraf, Director Aisshpra Gems & Jewels, Gorakhpur, “Gold, deeply embedded in Indian culture, captivates us with its enduring charm. We embrace its allure, not just as jewellery but as a thriving investment. The gold market, marked by steady growth, promises a secure future, making it a favoured safe haven asset for investors. Regardless of weight, the younger generation seeks trendsetting pieces, appreciating gold's timeless appeal. We try to meet these expectations, delivering both elegance and investment value, ensuring gold remains a cherished treasure for generations to come.”
Shreyansh Kapoor of Kashi Jewellers, Kanpur says, “India is a largest consumer of gold which has even surpassed China about a few years ago and there is a constant competition between the two countries. Starting from Navratri till the end of February, one expects an increase of about 20 to 30 per cent in the total sales. Apart from wearing jewellery to suit every occasion, gold cost escalation has also impacted the weight of the traditional jewellery to sleek light weight jewellery which is also budget friendly.”
Raghav Rastogi of Jugal Kishore Jewellers by Rajan Rastogi adds to these sentiments, saying, “Gold as an investment and as a fashion accessory holds great significance in the Indian households. As per the estimates, the Indian people hold 27000 tons of gold which is 60 per cent of the Indian economy. Traditional jewellery is always in fashion and with advancement in technology a heavy design could also be made in light weight jewellery for daily wearing.”
Supriya Shirsat Satam, founder and creative director at FOReT says, “During the festive season, our mission at FOReT takes on even greater significance. We are dedicated to making a meaningful impact, bringing elegance and sustainability to the forefront of the celebrations. Our products go beyond style; they reflect the joy and spirit of the season, all while championing eco-conscious choices that resonate with the festive spirit.
Our commitment is to provide products that not only meet the highest standards of style and quality but also cater to the specific desires of our festive season customers, ensuring a season filled with elegance and purpose.
Higher Demand For Innovations And Contemporary Designs
Buying gold on auspicious occasions is a part of Indian tradition. The gold sector is prodigious in India. The primary production amounted to approximately 5.48 billion rupees in FY2021.
Vijay Soni, Director, Mahabir Danwar Jewellers, Kolkata says, “As we are approaching one of the biggest festivals in India that is Diwali, we expect the gold sales to be higher this year especially in the middle segment products as the gold rates are stagnant and new, exquisite designs have been launched that are sure to catch the eye of the people. The market and trends have constantly been changing and talking specifically about the designs there has been a drastic shift in the last 5 to 10 years from chunky Jewellery designs to sleek Jewellery designs. The jewelleries are now designed in such a way that it can complement both the western and traditional dressing of the women.”
The Future of Festive Jewellery
According to industry experts, the shift towards sleek and modern jewellery designs is more than just a passing trend. It signifies a transformation in the way Indians perceive and wear their gold jewellery during festive seasons. While traditional designs will always hold a special place in Indian culture, the emergence of contemporary jewellery offers individuals a broader range of choices and the opportunity to express their individual style.
Jay Sagar, Jewellery Expert at AstaGuru Auction House says, “The gold sector in India is undeniably significant. Gold holds a special place in the hearts of Indians, as it is acquired and cherished during auspicious occasions and also embraced as a cornerstone of investment practices. The jewellery market has evolved from traditional, chunky pieces to sleek, designer jewellery, primarily due to changing consumer preferences. In the present era, as newer generations take the reins of purchasing their own jewellery, their focus has shifted towards acquiring pieces that offer comfort for everyday wear and embody a modern aesthetic. This shift contrasts with the preference for large, bulky jewellery that was often worn sparingly and stored in lockers.”
As India continues to evolve, so too will its jewellery preferences. The fusion of tradition and modernity in jewellery design is a reflection of the country's dynamic and diverse culture. This festive season, expect to see a harmonious blend of old-world charm and contemporary elegance adorning people from all walks of life.
