According to reports from CNBC TV18, Raniwala 1881, a Jaipur-based jewellery maker, expects healthy demand during the October to December quarter despite buyer hesitancy. Co-founder Abhiyant Raniwala stated that while the company anticipates a lot of activity due to Indians' love for celebration, buyers are taking their time due to unsteady gold prices. The October to December period is traditionally the busiest quarter, coinciding with Diwali and the wedding season starting in November. Current gold rates show 24K gold at ₹1,50,320 per 10 grams in major cities like Delhi, Chennai, and Kolkata, while 22K gold ranges from ₹1,37,650 to ₹1,37,800 across different markets. Titan Company Chief Marketing Officer Ranjani Krishnaswamy echoed this optimism, stating the company is expecting a strong festive season this year, supported by healthy consumer demand and an early wedding season that overlaps with a later-than-usual Diwali. She noted the company is seeing very healthy start to the festive season and is very optimistic, struggling to ensure capacity to service demand.
As reported by CNBC TV18, Raniwala noted a significant shift in customer purchasing patterns. Families used to buy jewellery six months to a year before weddings, but many are now leaving purchases until the last moment to see what happens with gold prices. The company is responding by expanding beyond heavy wedding jewellery to include festival, Diwali and gifting pieces. Raniwala emphasized targeting customers who love art and want jewellery associated with their personality, not just wedding-specific pieces. Titan Company is also experiencing this trend, with Krishnaswamy noting that companies are designing for birthdays, anniversaries, graduation gifts and friends' weddings with smaller, simpler and more flexible designs alongside bigger pieces.
According to CNBC TV18 reports, colour stones have gained ground over the past two years, with plain white diamonds and polki (uncut diamonds) no longer the default choice. Buyers are increasingly asking for emeralds, rubies and other precious and semi-precious stones. Raniwala explained that every colour stone has a story behind it, and Indian buyers love colour, allowing wearers to show their personality through their jewellery choices.
As reported by CNBC TV18, younger buyers, particularly Gen Z customers, are driving significant changes in the market. These customers do not want jewellery that sits in a locker, preferring pieces they can wear often with craftsmanship in the design. They care less about large diamonds for their own sake and are more interested in versatile, wearable pieces. Raniwala noted that the company is designing for birthdays, anniversaries, graduation gifts and friends' weddings with smaller, simpler and more flexible designs alongside bigger pieces.
According to CNBC TV18 reports, Raniwala acknowledged that jewellery competes with phones, property and holidays for consumer spending. However, he believes jewellery keeps a permanent place in people's wardrobes. Regarding lab-grown diamonds, he does not think they will push natural diamonds out of the market, stating the two can grow side by side. The next few weeks will determine whether last-minute buying translates into strong sales, with gold prices being the main factor to track as shoppers appear to be timing purchases around them. Current gold rates show 18K gold at ₹1,12,780 in Delhi, making it an accessible entry point for new buyers. Titan Company is also exploring acquisition opportunities, with Krishnaswamy indicating the company could consider similar opportunities in the watch segment, similar to their jewellery acquisitions including CaratLane.
