Вы находитесь на странице: 1из 60

SPECIAL

REPORT
Synthetic Diamonds:
Industry Moves To Maintain
Consumer Condencet
INDUSTRY
NEWS
Gitanjali Crowns
Pantaloons Fresh
Face Hunt
MARKET
REPORT
Mumbai Polished
Diamond Prices Have
Begun Correcting
RETAIL
ET CETERA
Nature Inspired
Jewellery From Porrati
RNI Regd. No. MAHENG13178/12/1/2012-TC Vol. No.1 Issue No.1, Mumbai August 2012 Rs.150
Feel free to get in touch with our eBay Business Development experts in your regions for any eBay
selling related queries & for the eBay Training Program.
Mumbai
Mr. Imran Khan : +91-9820389961
khan.imran@rampgreen.biz
Mr. Nitin Indurkar : +91-9096423473
nitin.indurkar@rampgree.biz
Mr. Aniket Prabhu : +91-9819862244
aniket.prabhu@rampgreen.biz
Delhi
Mr. Kapil Arora : +91-9990176045
kapil.arora@rampgreen.biz
Mr. Mayank Agarwal: +91-9899973783
mayank.agarwal@rampgreen.biz
Jaipur
Mr. Amit Pareek : +91-9636618512
amit.pareek@rampgreen.biz
Mr. Vikas Sharma : +91-9829730302
vikas.sharma@rampgree.biz
Mr. Rajesh Sharma : +91-9680826556
rajesh.sharma@rampgreen.biz
Surat
Mr. Alok Tiwari : +91-9727700447
alok.tiwari@rampgreen.biz
Hyderabad
Mr. Rafiq Mohamad: +91-8099677825
rafiq.mohamad@rampgreen.biz
Chennai
Mr. Gnana Sekar: +91-8056903272
gnana.sekar@rampgreen.biz
Ahmedabad
Mr. Konark Parmar : +91-9725795449
Konark.parmar@rampgreen.biz
21cm x 27cm_Ad IDEX_ebay online_Open file.pdf 1 7/14/2012 11:09:09 AM
C
M
Y
CM
MY
CY
CMY
K
kar070412j03 KJ print ad@IDEX indian (august).pdf 2012-7-4 14:04:55
4 IDEX INDIA RETAIL MAGAZINE| NO 1
magazine india retail
05 FROM THE EDITORS DESK
A Time To Build Up & A Time To Defend
Our Honour
06 MUMBAI DIAMOND MARKET
REPORT
Mumbai Polished Diamond Prices Have Begun
Correcting
08 SPECIAL REPORT
Indian Industry Moves To Maintain Consumer
Confidence
17 RETAIL ET CETERA
Nature Inspired Jewellery From Porrati
22 RETAIL BYTES
Gitanjali Opens First Multi-Brand Jewellery
Store In Dubai
27 DIAMOND RETAIL BENCHMARK
34 COVER STORY
Time For Industry To Rally
44 STONE SOURCES
RJC And Solidaridad Collaborate On Gold Mining
Standards Pilot Project
51 INDUSTRY NEWS
Gitanjali Crowns Pantaloons Fresh Face Hunt
www. i d e x o n l i n e . c o m
Augus t 2 0 1 2
VOL. 1 No. 1
Editorial Department
EDITOR-IN-CHIEF Vinod Kuriyan
EDITORs Edahn golan, Danielle Max
IDEX ONLINE REsEARCH Ken gassman
INTERNATIONAL CORREsPONDENT
tamar Katzav
ADMINIsTRATION & MARKETING
Managing Director Yaron Barzilay
Marketing Manager Kuldip Bedi
sALEs MANAGERs
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)
PRINTED by sAP Printers, Lower Parel, Mumbai 400 013
IDEX INDIA
OFFICE # 20, KALA bHAVAN, 4TH FLOOR, 3 MATHEw RD., OPERA
HOUsE, MUMbAI 400 004, INDIA
TEL: +91-22-6633-2187, FAX: +91-22-6633-2186
EMAIL: MUMbAI@IDEXONLINE.COM
IDEX USA
7 wEsT 45TH sT. sUITE # 1602 NEw yORK, N.y. 10036, U.s.A.
TEL: +1-212-3823528, FAX: +1-212-3822671
IDEX BELGIUM
74 LANGE HERENTALsEsTRAAT, 2018 ANTwERP, bELGIUM
TEL: +32-3-2341157, FAX: +32-3-2342463
IDEX ISRAEL
11 HARAKOON sT., P.O.bOX 3107, RAMAT GAN 52521, IsRAEL
TEL: +972-3-575-7455, FAX: +972-3-7511203
Printed, Published and Edited by VINOD KURIyAN
on behalf of IDEX ONLINE (INDIA) PVT. LTD.
Printed at sAP PRINTERs, 28 Laxmi Industrial Estate, s.N. Path,
Lower Parel, Mumbai 400 013, and Published from
IDEX ONLINE (INDIA) PVT. LTD., Ofce No.20, 4th Floor,
Kala Bhavan, 3 Mathew Road, Opera House, Mumbai 400 004.
Editor: VINOD KURIyAN

Reprints of individual articles are obtainable on application to the editor. All rights
reserved. No part of this publication may be reproduced, stored in a retrieval system
or transmitted in any form or by any means without the prior written permission
of the Copyright owner.
ISSN 0334-6838
2003 IDEX ONLINE S.A.
CONTENTS
AUGUST
Editor
5 IDEX INDIA RETAIL MAGAZINE| NO 1: EDITOR
t a time when the economic outlook for the global
economy is uncertain and India faces the consequences
of a poor monsoon, one has to conclude that the outlook
for the gem and jewellery industry is defnitely far from
rosy. But then all business runs in cycles of ups and downs.
If this is a bad year, weve had some pretty great years
in the recent past. Any economic downturn is, therefore,
really no cause for the industry to worry about its future.
What is a real cause for worry is that as a product group,
gems and jewellery have not attuned themselves to the
consumers concepts of value and whats worth desiring.
An overwhelming majority of jewellery, particularly in
India, derives its value not from what it is and what it offers
the consumer, but rather a piggy-back ride on the notion
that the materials it is fabricated from are valuable.
Deriving value from component materials reduces
jewellery to a mere commodity whose value ebbs and fows
with supply and demand. The problem is, unlike other
commodities, gold and diamonds dont really have any
utility value and thus have nothing to compel a consumer
to buy them except the idea that they are precious and hold
value.
Diamonds still derive their value from past efforts
that promoted them as the symbols that represent the
relationships between men and women. That idea is no
longer being sold to consumers.
Given the dizzying high price of gold, there are already
signs that Indians are not blindly crazy about the yellow
metal as they were thought to be. What sustains the high
price of gold in India today to a signifcant extent is the
poor showing of the Indian rupee against the US dollar.
Shell-shocked by the price of gold, the Indian consumer
might consider diamonds as a decent repository of value.
But if the consumers confdence in the diamond is also
lost because large numbers of synthetics that are worth just
half the value of natural stones have been sold fraudulently,
it will be curtains for all.
Now is the time for the industry to rally and start planning
for the future with promotions and ideas to make the
consumer desire its product. Nows also the time for the
industry to be ready to unhesitatingly take strong action
against any hint of sharp practice that might destroy the
consumers confdence. idEX
A timE to Build up
& A timE to dEfEnd onEs Honour
by VI NoD KurI yAN
A
6 IDEX INDIA RETAIL MAGAZINE| NO 1: MARKET REPORT
MUMBAI
DIAMOND MARKET
REPORT
by VI NAY PAREKH
MUMBAI POlIshED DIAMOND PRIcEs
hAvE BEgUN cORREcTINg
olished diamond prices have begun correcting in Mumbai.
From the smallest to the carat-plus sizes, prices for the
VS-and-better clarities had come down by up to 15 percent by
mid July. The prices of lower clarities too had softened, though
not by as much. Even at reduced prices, movement of all
clarities and sizes had slowed down signifcantly.
There has been strong consumer resistance to higher
polished prices all over the world for some time now. An
uncertain global economic outlook, with fears of entire
European countries failing fnancially and an uncertain US
economic recovery fuelling it, has been instrumental in
slowing consumer spending.
In India, a monsoon that has so far dropped 25 percent less
rain than normal, has also raised fears of poor agricultural
output accompanied by higher food prices. This means that
the growth in the countrys diamond consumption, which
has been fuelled by strong rural demand, is likely to fag and
even fade away.
Business sentiment was very low and even the upcoming
India International Jewellery Show (IIJS), the countrys
single biggest gem and jewelry trade show, had generated
no lift in demand in the polished diamond market.
IDEX
P
7 IDEX INDIA RETAIL MAGAZINE| NO 1: MARKET REPORT
-0.01 (-2 ) Fair demand for SI2-I1 goods. Overall demand & prices will remain low.
-0.02 (+2-6.5) Good demand for white SI2-I2 goods.
Fair demand for VS-SI/I-L col.
Overall demand & prices will remain soft.
Demand & Prices for VVS-VS will be very soft.
0.03-0.07 (+6.5-11) Good demand for SI2-I1 whites.
Fair demand for VS-SI/I-K col.
Overall demand & prices will remain soft.
Demand & Prices for VVS-VS will be very soft.
0.08-0.14 (+11-14) Good demand for SI & piqu goods. Overall demand will be low. Prices will be
under pressure.
0.30 (1/3) Good demand for VS-SI goods.
Fair demand for piqu goods.
Demand for SI goods will remain stable.
Prices will remain under pressure.
0.50 (1/2) Good demand for VS-SI/K+ goods.
Fair demand for I1-I2/I+ goods.
Demand for SI goods will remain stable.
Prices will remain under pressure.
0.75 (3/4) Good demand for +0.90 cts. VS-SI/F-J col.
Fair demand for I1-I2/I+ goods.
Demand for SI & piqu goods will remain
stable. Prices will remain under pressure.
1.00 (4/4) Good demand for SI/K+ goods.
Fair demand for I1-I2 goods.
Overall demand will remain stable. Demand &
prices for VVS/VS goods will remain soft.
0.15-0.17 (+14-15.5) Good demand for SI & piqu goods. Overall demand will be low. Prices will be
under pressure.
0.18-0.22 (1/5) Fair demand for SI goods. Overall demand & prices will remain soft.
0.23-0.29 (1/4) Fair demand for SI goods. Overall demand & prices will remain soft.
0.40 (3/8) Fair demand for VS-SI goods. Demand for SI goods will remain stable.
Prices will remain under pressure.
+3.00 Fair demand for SI-I1/G-K col. Overall demand & prices will remain soft.
MUMBAI DIAMOND TRADING IN JUlY
Size in Carat
(Sieve)
Comments Forward Call
by Vi nod Kuri yan
MEMO
8 idEX india RETAIL MAGAZINE| NO 1: SPECIAL REPORT
SPECIAL REPORT
he Indian gem and jewellery sector set up a wide-based
committee to formulate ways to protect the industry
from the infltration of undisclosed synthetic diamonds
and gemstones. The committee is also empowered to act as
a watchdog and take appropriate action against those found
to be knowingly passing on undisclosed synthetics.
The setting up of the committee is a concerted response
to the issues thrown up by the recent revelation that all 600
diamonds in a parcel bought in New York, most of which
were in the 0.30 carat size range, were actually undisclosed
synthetics. All the stones were from Gemesis, the worlds
largest producer of synthetic diamonds, which is controlled
by Indian diamantaire Jatin Mehta (see IDEX Magazine
India Retail July issue for details).
T
SALE Of undISCLOSEd SynThETIC dIAMOndS
IndIAn InduSTRy MOvES
TO MAInTAIn COnSuMER
COnfIdEnCE
As a consequence of the New York incident, the global
gem and jewellery industry was suddenly and shockingly
made aware of the possibility that tens of millions of
dollars worth of diamonds, which are already in circulation
many of them already in consumer hands might on
subsequent testing, turn out to be lab-grown synthetics.
In price terms, a lab-grown synthetic could fetch as low
as just half the price of its naturally mined counterpart.
The consequences in terms of fnancial liability and more
importantly consumer confdence, are staggering.
The committee set up to respond to all this is a coming
together of four different organizations the Gem &
Jewellery Export Promotion Council (GJEPC), the Bharat
Diamond Bourse (BDB), the Mumbai Diamond Merchants
9 idEX india RETAIL MAGAZINE| NO 1: SPECIAL REPORT
10 idEX india RETAIL MAGAZINE| NO 1: SPECIAL REPORT
As a consequence of the New
York incident, the global gem
and jewellery industry was
suddenly and shockingly made
aware of the possibility that
tens of millions of dollars
worth of diamonds, which are
already in circulation many
of them already in consumer
hands might on subsequent
testing, turn out to be lab-
grown synthetics. In price
terms, a lab-grown synthetic
could fetch as low as just half
the price of its naturally mined
counterpart. The consequences
in terms of financial liability
and more importantly consumer
confidence, are staggering.
Association (MDMA) and representing retailers, the very
end of the process and production line, the All India Gem
& Jewellery Trade Federation (GJF).
The committee held its very frst meeting on July 11.
Representing the GJEPC were Ashish Mehta of Kantilal
Chhotalal and Avnish Shah of Rajendrakumar A. Shah. The
BDB was represented by its Chairman Anoop Mehta of
Mohit Diamonds as well as its Vice Chairman Mehul Shah
of the Star Brillan group. Representing the MDMA was its
Secretary Rohit Shah of P. Rohitkumar & Co., while the
GJF was represented by Chairman Bachhraj Bamalwa of
Nemichand Bamalwa & Sons along with the Chairman of
its Finance, Accounts & Administration Committee Paresh
Shah of P & S Jewellery Ltd. As the frst order of business,
the committee elected Ashish Mehta as its Convener.
Included in the frst meeting and on board in an advisory
role for the long term as well, were a group of special invitees
whose experience and expertise would help the committee
achieve its goals. The special invitees with diamond and
jewellery expertise were GJEPC Vice Chairman Sanjay
Kothari of Kunal Diamonds and Diatrends Jewellery,
Russell Mehta of Rosy Blue, Parag Shah of K. Girdharlal
and Rahul Dholakia of Shree Ramkrishna Export. The
other invitees brought their technical expertise in the testing
and detection of synthetics to the table. They were K.T.
Ramachandran, Executive Secretary & Chief Gemmologist
of the Gemmological Institute of India (GII), Nirupa
Bhatt, Managing Director, India & the Middle East of the
Gemological Institute of America (GIA) and Tehmasp
Printer, Managing Director India, of the International
Gemmological Institute (IGI).
haRd woRk pays off.
manufacturer i mport - export poli shed di amonds i n all si zes and quali ti es
manufacturer of large si zes, rounds and fanci es, up to 25. 00 cts
schupstraat 1/7 2018 antwerpen belgium tel + 32 3 231 21 47 info@pinchasi.com www.pinchasi.com
please vi si t us at the hong kong jewellery show 19- 23 september 2012, asi a Worl d expo, hal l 5 a15
Gem testing laboratory of the Gemmological Institute of India
IDEX INDIA RETAIL MAGAZINE| NO 1: SPECIAL REPORT 12 IDEX INDIA RETAIL MAGAZINE| NO 1: SPECIAL REPORT
WHY THE COMMITTEE WAS SET UP
Explaining the impellers behind the committees formation
and what in essence its functioning would be, Sanjay
Kothari said, It is important to protect the integrity of
the trade and the confdence that consumers have in it. It is
clear that as far as the industry is concerned, there should
be zero tolerance on anyone trying to pass off synthetic
diamonds as natural. Thus the committee was formed to
develop a common strategy among all stakeholders in the
gem and jewellery industry including the trade, retailers and
the laboratories.
Kothari explained that the actual reporting of any
violations would be at the member association level.
These associations would now encourage members to
immediately report any violations and they would in turn
bring the violation to the notice of the committee. The
committee would then initiate the necessary action through
the association.
Kothari noted, The committee will send letters
through its constituent associations urging all members
to bring any violations to light. This way, he explained,
we can ensure that there is a clear-cut system to ensure
that any violations would be reported and dealt with
appropriately.
The committee is also ensuring that the necessary
technical expertise is being brought to bear on the
problem. Thats why we got the leading laboratories on
board with this, Kothari said. We want to strengthen
our technical response and ensure that we have good
scientific resources being deployed in support of
the initiative. Inputs from the laboratories will go
into ensuring that the gem and jewellery industry
countrywide is aware of what is necessary and thus
ensure that they are absolute certain that the laboratory
they might entrust any testing to is fully equipped to
deal with the problem.
haRd woRk pays off.
manufacturer i mport - export poli shed di amonds i n all si zes and quali ti es
manufacturer of large si zes, rounds and fanci es, up to 25. 00 cts
schupstraat 1/7 2018 antwerpen belgium tel + 32 3 231 21 47 info@pinchasi.com www.pinchasi.com
please vi si t us at the hong kong jewellery show 19- 23 september 2012, asi a Worl d expo, hal l 5 a15
14 IDEX INDIA RETAIL MAGAZINE| NO 1: SPECIAL REPORT
WAITING FOR OFFICIAL ACTION WHERE IT
HAPPENED
With regard to the New York incident that has triggered
this industry-wide reaction, IDEX Magazine India Retail
has learnt that an industry panel including the the BDB and
GJEPC had asked Jatin Mehta for a written explanation
of what transpired and what his involvement in it was.
Mehta responded in writing that Su-Raj Diamonds India
had divested all its holdings in Su-Raj Diamonds & Jewelry
Inc. in New York and that he had nothing to do with the
sale of the undisclosed synthetics. He reportedly furnished
documentation to this effect.
The Indian panel concluded that given Mehtas declaration
in writing that he had nothing to do with the sale of the
undisclosed synthetics, the matter be treated as closed
pending any further revelations to the contrary. The panels
view was that it has no legal jurisdiction in this matter as the
incident unfolded in New York, where the diamonds were
bought and in Antwerp, where they were tested by the IGI
and found to be synthetics.
One person with knowledge of the matter said, Nobody
here is in any position to determine whether the sale was
made with intent to defraud and to determine who is
liable. In terms of industry jurisdiction, the matter has to
be handled by the Diamond Dealers Club (DDC) in New
York and the Antwerp World Diamond Council (AWDC) in
Antwerp. In terms of law enforcement, it would be for the
Federal Bureau of Investigation (FBI) in the United States
and the Belgian police to investigate and reach a conclusion.
If there is any criminal liability, those agencies will certainly
be liaising with Indian law enforcement authorities.
Meanwhile, the undisclosed sale of synthetic diamonds is
considered by many to be the single largest threat to global
gems and jewellery industry. Not only does this fraudulently
deprive the buyer of actual market value, it destroys the
consumers confdence in the industrys product in general.
The consumers belie in it is the diamonds only real value.
Without that belief, it is worth nothing.
IDEX
It is important to protect the
integrity of the trade and the
confidence that consumers
have in it. It is clear that as far
as the industry is concerned,
there should be zero tolerance
on anyone trying to pass off
synthetic diamonds as natural.
Thus the committee was formed
to develop a common strategy
among all stakeholders in the
gem and jewellery industry
including the trade, retailers and
the laboratories.
Untitled-1 1 12-07-18 12:12 PM
IDEX INDIA RETAIL MAGAZINE| NO 1: RETAIL ET CETERA 17
Retail
et
CeteRa
Now you can add some variety to your jewellery box
and accessorize your look with Porratis fsh-and-nature-
inspired collection available at Giantti. A wide range of
rings and pendants; set in white gold and studded with
brilliant diamonds, these pieces are a must-have for those
who love to be one with nature.
natuRe insPiReD JeWelleRY
FROm PORRati
18 IDEX INDIA RETAIL MAGAZINE| NO 1: RETAIL ET CETERA
The latest offering from Porrati is a mix of very stylish
pieces designed for a woman who is not afraid of standing
out. Satisfying your need to be daring with its bold shapes
highlighted with lines of diamonds, precious stones and
enamel, the glamorous collection consists of rings and
pendants and offers a combination of the latest fashion
trends created by skilled craftsmen.
19 IDEX INDIA RETAIL MAGAZINE| NO 1: RETAIL ET CETERA
Celebs PiCk Platinum
The most recent styles in engagement rings worn by Keira
Knightley, Sienna Miller & Alec Baldwins fance Hilaria
Thomas all feature platinum. They chose the white metal
specifcally to symbolize their relationships.
20 IDEX INDIA RETAIL MAGAZINE| NO 1: RETAIL ET CETERA
Snuggling up at both ends this bangle features 0.99 carats
of prepav diamonds set in 17.2 grams of yellow gold.
The red carpet is calling; where are you? You need nothing
more than the stunning pair of earrings to join the league
of celebrities. They feature 4 grams of gold set with 0.5
carats of diamonds in prepav and microprong settings.
uni-DesiGn
Call OF tHe ReD CaRPet
21 IDEX INDIA RETAIL MAGAZINE| NO 1: RETAIL ET CETERA
A beautiful pendant for a beautiful you! The piece features
0.38 carats of micro-set diamonds and a 0.48-carat emerald
set in 2 grams of gold.

Retail Bytes
22 IDEX INDIA RETAIL MAGAZINE| NO 1: RETAIL ET CETERA
Gitanjali
Opens First Multi-Brand JeWellerY stOre in duBai
TC Sightholder Gitanjali Group recently opened
its frst global multi-brand store in Meena Bazaar,
Dubai. Bollywood actress Priyanka Chopra, who is also
the brand ambassador for Gitanjalis Asmi branded jewelry
line, participated in the opening.

The 2,000-square-foot store offers a selection of jewelry
that while focused on the emirates Asian community, keeps
an international clientele in mind.

Featured among the brands are Asmi, Nakshatra, Nizam,
Gili and Adler & Roth. The store houses diamond and
22-karat gold jewelry, some set with precious and semi-
precious stones. Other offerings include polki uncut
diamonds.

Speaking at the occasion, Priyanka Chopra said, Im
extremely pleased to be part of Gitanjali Jewels frst multi-
brand store opening in Dubai. I feel part of the family as
D
I endorse one of their most spirited brands Asmi which
means I Am in Sanskrit. The brand represents the new age
Indian woman, celebrating her new-found economic and
social independence.

We are happy to open the frst Gitanjali Jewels store
at Meena Bazaar, which is a shopping paradise for the
Asian community at large, said Mehul Choksi, chairman
and managing director of the Gitanjali Group. We are
proud to present the most renowned Indian jewelry brands
endorsed by celebrities under one roof, close to the hearts
of the discerning clients here in Dubai.
iDEX
priyanka Chopra inaugurates the store
Choksi: Happy to launch in dubai
njn REpoRt:
industrY GettinG MOre FaCeBOOk savvY
Courtesy National Jewelry News
23 IDEX INDIA RETAIL MAGAZINE| NO 1: RETAIL ET CETERA
he latest analysis of the social media platform by
think tank L2 shows that the ability of watch and
jewelry brands to amass a following and engage fans on
Facebook has slightly improved.

New York-based L2 recently released its 2012 Facebook
IQ Index. This report was compiled by taking into account
four factors: size and growth of likes (35 percent); fan
reaction and interaction (35 percent); the brands content,
responsiveness and innovation (20 percent) and integration
of Facebook across all digital platforms (10 percent).

The brands were scored by points based on this criteria and
ranked into one of four classes: Genius, those that scored
140 points and above, Gifted (110 to 139), Average (90
to 109), Challenged (70 to 89) and Feeble (less than 70).

Overall, watch and jewelry brands were dispersed evenly
throughout the report, with seven ranking as Gifted, seven
as Average, eight as Challenged and fve as Feeble. This was
a slight improvement from L2s 2011 Facebook analysis,
when fve brands were Gifted, and six each fell into the
other three categories.
In addition, two of the industrys most iconic brands,
Bulgari and Cartier, showed marked year-over-year
improvement, ascending from Challenged to Gifted.

A total of 23 jewelry brands were included in last years report
while 27 were evaluated this year. Baume & Mercier, TAG
Heuer, Offcine Panerai and Longines were the four additions.

In the 2012 report, a new leader in social media - or at least
in Facebook - emerged among the watch and jewelry brands.
W
Luxury watchmaker IWC Schaffhausen scored 138 points
and ranked No. 5 out of the 100 brands analyzed. It
unseated Swarovski as the top-ranking industry player.

Stirring Pilot Aptitude Test game app(lication) catapults
watchmaker to top of category, the report stated. The
app garnered a 20 percent increase in likes for IWC
Schaffhausen and an addition of 45,861 new fans in the
10 days following its release, a rate 10 times the average for
watch and jewelry brands.

Also ranking as gifted were Swarovski at No. 7 with a score
of 131, followed by Pandora at No. 10 with 127, Bulgari
at No. 12 with 126 and Tiffany & Co. at No. 18 with 123.

The fve Feeble brands were Van Cleef & Arpels with a
score of 64, Rolex with 55, Baccarat with 54, De Beers with
52 and Patek Philippe, which ranked last with a score of 27.
Patek Philippe and Rolex are the only two brands out of the
100 included in the study that have yet to get on Facebook,
although they do have unoffcial pages created by fans.

Ranking No. 1 overall was Macys with a score of 161. This
Timeline pioneers page is big, growing and well-integrated
across channels; constantly updated programming sets the
bar, the study stated.

Also ranking as Genius were cosmetics retailer Sephora,
with a score of 148, followed by Lancme Paris and
Michael Kors, both at 146. These were the only four brands
to achieve this top ranking.
iDEX
24 IDEX INDIA RETAIL MAGAZINE| NO 1: RETAIL ET CETERA
ChoW tai Fook REvEnuEs soaR,
+61.4% tO $7.8 BilliOn
surge in revenue and proft has been recorded for
Chow Tai Fook Jewellery. The Hong Kong based
retailer reported revenue for the fscal year leaped 61.4
percent to HK$56.57 billion ($7.79 billion).

Proft for the year ended March 31, 2012 mushroomed 79.2
percent to HK$6.34 billion ($817.2 million).

The company, a DTC Sightholder, said the improved
results were mainly fuelled by the expansion of its POS
network and a 40.3 percent growth in same store sales.

Income from its retail operations in Mainland China
represented 56.6 percent of the groups retail revenue, as
income from the region increased 64.4 percent year-over-year.

Chow Tai Fook said its market share grew from 12.6
percent in 2010 to 14.4 percent in 2011 in Mainland China
and from 20.1 percent to 21.4 percent in Hong Kong and
Macau in that same period.
The frms gold products were the most popular, generating
a
52.6 percent of income by product category. Revenue
of $1.98 billion from gem-set jewelry represented 27.2
percent of income.

The growth drivers, according to the company, were fuelled
by continued strong expansion of Mainland Chinas overall
economy and increasing demand for jewelry, especially for
event-driven and festive celebrations.

The company also noted that, according to a Frost &
Sullivan report, 80 percent of soon-to-be-wed couples
in Hong Kong and 65 percent of their counterparts in
Mainland China favor diamond rings as a mark of their
matrimonial vows.
A DTC Sightholder and Rio Tinto Select Diamantaire,
approximately 46 percent of Chow Tai Fook's polished
diamonds were produced from rough diamonds processed
at their three diamond polishing factories. Two of the
factories are in South Africa and the third is located in
Shunde, China.
iDEX
White Pines recycled
diamond tenders feature:
Large quantities of melee & single stones
All shapes, sizes and qualities
Sorted and mixed parcels
Credit solutions for buyers & sellers
A SMARTER
WAY TO TRADE
To participate, visit www.whitepinesales.com,
email sales@whitepinediamonds.comor call +1 (646) 758-0255
YOU ARE INVITED TO ATTEND OUR UPCOMING SALES EVENTS
August 22-28
New York
Recycled
Diamond Tender
September 19-23
Hong Kong
Melee &
Single Stone
near
Asia World Expo
October 24-30
New York
Recycled
Diamond Tender
WP IDEX India Ad 210X270_Layout 1 20/07/2012 15:13 Page 1
Untitled-1 1 12-05-23 12:56 AM
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 will only make the system better. We urge
you to contact us at anytime with your comments,
suggestions and questions.
IDEX Online
Call us at (022) 6633 2187
Fax us at (022) 6633 2186
Email us at mumbai@idexonline.com
+;=| +|, =|=|= ;|| =|=+= :| |+==|=| ;|| =-=| =|
:| +-=|= == |==| ; |=== + =+ |;=| =|, ;|| = +==
|= =| ; :| =-=| =| =|=| |:=| == =|= =|=|=
+ =|=+= =|+| = (=|==) ;|| == |: =| =
+-=|= =-=| =| :n= = =+|=| |==| =| ; |=== |;= =|
;|| |: = |= |++|= +c| ;
;|| |c= +-=|= (|=|+|) +|==|+= =| +==. +|:n| =|=|
= =| =|=| +|=| =|=|| = =|=| + ==| |==| =| ; +
:n = =|= :| =-= == =| =| = | =| ; =||= :n
= |==| =| =| = +|=| = =|:| =| n||== |==| =| ==
== :| =+| = = ;|| = =| ==| ; |=== ==| == |;=|
= |= =|; |++=|= :| =-= +-=|= ;| | =;| ==
|;=|, |== =; +;=| +| ;|| |: +|= ;, =| =+= ; ;||
|:| == |= =; +| :|+=| =| +|= ;| ===| ; =|+ =
=== =+=| = === |: =| +|= = ==| =|=| = |=
|++|= +;= ==| ; |== =;| =| = =|=| =| ===| ; =+
|;= ;|| |: =| == =; |++|= ;|| -||; |= == =;| :|=
+ ;|| |:| ;
|=|+|, =c, =c, == =| =|c| =| -| |+n+n=|=| =
=|=| + ;|| =| :| =-= +-=|= :=| ; |=|+| =| ;===|=
=+= ++ =|=|| = =+ = |==| =|| -||; +|==|+= =-=,
|+==|=| ;|| == |= =|= ;
=|+= = |= =-| = ;| =; |==c= +;-| ;| +|| =|+= =|=
; |= =|+ |==| =| === =+ |+-|, ==|+ =| |-|=|=
-+,+= + |= === ;.
=|;= =|=|;
+ =-+= =
== + =-+= =
mumbai@idexonline.com + ;== =
=|;= =|=|; ;|| |c= +-=|=-= =|=||
ABOUT THE IDEX ONLINE DIAMOND RETAIL BENCHMARK
(022) 6633 2187
(022) 6633 2186
27 IDEX INDIA RETAIL MAGAZINE| NO 1: DRB
Full Page template.indd 102 09-Feb-12 2:26:45 PM
29
Disclaimer: This Diamond Retail Benchmark India (DRB) is an informational and educational tool for diamond consumers. Organized around the the 4Cs - Carat, Cut, Color & Clarity - the DRB India is based on
market data from the diamond trading centers Worldwide and market research assessment of customary retail mark-ups. Endorsed by the All India Gem & Jewelry Trade Federation (GJF), as well as the World Federation
of Diamond Bourses (WFDB) The DRB should be used as background information only. Actual diamond sale prices may be dier compared to this benchmark, depending on demand and supply at time of transaction;
source 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 The All
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
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 245546 232851 224388 168040 163697 146325 120267 98163 80345 66927 53563
E 198441 189755 185412 163697 146325 120267 111581 89254 71437 58018 49109
F 194098 181069 176726 150668 137639 115924 102673 80345 71437 58018 49109
G 181069 163697 159354 141982 133296 107127 98163 75891 71437 58018 49109
H 163697 159354 155011 137639 128953 102673 93708 71437 66927 53563 44655
I 159354 155011 141982 128953 120267 98163 89254 66927 62472 53563 44655
J 146325 141982 120267 98163 89254 75891 71437 62472 58018 49109 40145
K 111581 102673 89254 80345 71437 66927 62472 58018 53563 44655 35690
L 89254 84800 80345 75891 66927 62472 58018 53563 44655 35690 31236
M 84800 80345 75891 71437 62472 58018 53563 49109 40145 31236 22327
N 75891 71437 66927 62472 58018 53563 49109 44655 35690 31236 22327
R
o
u
n
d

0
.
1
8
-
0
.
2
2
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 285078 239365 226670 196993 184298 154287 149944 110857 97829 75891 62472
E 239365 218151 209688 184298 175835 145601 136915 97829 93486 71437 53563
F 235134 213920 205457 175835 171604 141258 128229 93486 89143 66927 53563
G 218151 192762 188530 171604 149944 136915 119543 89143 84800 66927 53563
H 192762 184298 175835 149944 145601 132572 106514 84800 80345 62472 49109
I 180067 171604 167316 145601 128229 119543 93486 75891 71437 62472 49109
J 175835 162973 128229 106514 97829 93486 84800 71437 66927 58018 44655
K 132572 119543 102171 89143 84800 80345 75891 66927 62472 53563 40145
L 106514 97829 89143 80345 75891 71437 66927 62472 53563 44655 35690
M 97829 93486 84800 75891 71437 66927 62472 58018 44655 35690 26782
N 89143 84800 75891 71437 66927 58018 53563 49109 44655 35690 26782
R
o
u
n
d

0
.
2
3
-
0
.
2
9
R
o
u
n
d

0
.
4
5
-
0
.
4
9
R
o
u
n
d

0
.
5
0
-
0
.
6
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 500780 397160 342984 319488 240869 212862 208797 204733 172160 134855 96715
E 385579 335134 292094 260690 216871 188586 184521 176281 147327 96715 83797
F 354677 323385 280345 232906 212862 180401 155624 143207 131013 83797 70935
G 315535 292094 264644 216871 204733 176281 151448 139087 118318 79621 70768
H 295991 268597 240869 208797 192595 172160 147327 134855 114087 75557 66592
I 292094 228953 212862 188586 172160 159744 139087 130624 105624 75278 66592
J 220935 212862 196659 167984 155624 147327 134855 126392 96993 70768 57739
K 192595 184521 163864 155624 147327 143207 130624 117929 83964 66425 53396
L 167984 163864 155624 147327 143207 139087 109410 105178 79454 57739 49053
M 163864 151448 134855 130624 126392 117929 105178 88140 70768 57739 44655
N 147327 143207 130624 126392 117929 100947 96715 83797 70768 57739 44655
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 685301 542261 456292 407183 365200 303619 253062 241314 198107 186192 129399
E 527394 460078 433630 388085 338419 276559 225668 213920 182238 158018 108686
F 456292 422327 388085 368987 322940 253062 209967 206013 178229 137639 95991
G 441203 391927 357517 338419 288140 237416 202060 198107 170156 121102 91759
H 399555 368987 330679 288140 260857 221715 198107 194098 162082 112862 83296
I 330679 311359 280401 253062 233463 194098 178229 170156 145880 104454 83296
J 264811 249109 241314 225668 198107 178229 170156 162082 133519 91759 74833
K 233463 217817 206013 178229 170156 166091 158018 153953 133519 91759 70490
L 209967 190145 178229 170156 158018 153953 145880 141759 129399 74833 57461
M 190145 178229 166091 158018 153953 145880 133519 129399 121102 74833 57461
N 186192 174220 162082 153953 149944 137639 129399 108686 91759 70490 57461
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 341370 277339 244878 211804 191147 157294 153062 140367 123330 97272 71214
E 289477 248998 220100 199388 178452 153062 140367 136136 123330 88586 66871
F 261136 228341 207684 178452 174220 148831 136136 131904 114644 75557 58018
G 224220 211804 199388 174220 161526 144599 131904 123330 114644 75557 58018
H 199388 191147 182684 161526 157294 136136 123330 118987 101615 75557 58018
I 182684 174220 169989 148831 136136 131904 114644 110301 97272 71214 53563
J 178452 165757 144599 131904 123330 114644 110301 101615 84243 62472 49109
K 153062 144599 131904 123330 114644 105958 97272 92929 79900 58018 44655
L 131904 123330 118987 114644 110301 101615 88586 75557 66871 53563 40145
M 114644 110301 105958 101615 97272 88586 75557 62472 53563 40145 31236
N 110301 105958 101615 97272 92929 66871 58018 53563 44655 35690 26782
R
o
u
n
d

0
.
3
0
-
0
.
3
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 380345 317706 286247 270379 218151 181236 172940 168820 143708 109855 79621
E 313808 294154 270379 246437 206013 177060 152171 143708 131013 88586 75278
F 294154 262416 238363 218151 197773 168820 147940 139477 131013 79621 70935
G 270379 242428 230290 214087 193597 164699 143708 135245 118318 79621 66592
H 242428 238363 218151 197773 185356 160523 139477 126782 114087 75557 66592
I 234298 201893 193597 172940 168820 152171 135245 122550 105624 75278 66592
J 193597 181236 172940 160523 143708 131013 122550 114087 96993 66592 53563
K 177060 164699 156403 147940 139477 126782 109855 96993 83964 62249 49109
L 164699 156403 152171 143708 131013 118318 101336 83964 70935 53563 44655
M 156403 139477 131013 126782 118318 105624 83964 66592 57906 44655 35690
N 131013 126782 122550 118318 114087 96993 79621 62249 57906 44655 35690
R
o
u
n
d

0
.
4
0
-
0
.
4
4
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 827617 643430 585301 541648 497829 416648 352895 311247 269154 191481 129399
E 672439 563474 523441 494154 457405 390535 326503 295935 242094 191481 123998
F 578062 523441 483185 472216 416648 371826 311247 284465 234354 191481 123998
G 516147 483185 464811 412918 379287 330234 295935 272996 226615 175780 119933
H 505178 450000 412918 379287 349165 315033 269154 253675 214922 167984 111748
I 401726 379287 360468 337806 311247 265256 234354 218875 187528 128007 91091
J 307405 299777 288307 257572 238196 230512 207127 203229 175780 111748 86915
K 253675 249833 234354 211024 199276 187528 167984 163976 144154 99332 70490
L 234354 214922 211024 187528 179733 171882 156069 152116 132071 95212 69989
M 226615 211024 195379 175780 171882 167984 140145 136136 123998 82684 69989
N 199276 195379 183630 171882 167984 163976 136136 119933 99332 74220 61526
R
o
u
n
d

0
.
7
0
-
0
.
7
9
R
o
u
n
d

0
.
8
0
-
0
.
8
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 982350 746882 660468 580958 551949 442706 391203 350278 286303 201782 129399
E 782739 656904 580958 548330 493764 417038 354009 316481 255735 191481 127227
F 678508 606292 533797 519209 460969 398608 335356 305178 244265 191481 127227
G 577339 541036 497383 453675 420713 350278 305178 274833 228842 178341 123218
H 519209 508296 446325 417038 380122 339087 286303 259521 221102 170546 115089
I 446325 420713 398608 368931 350278 293820 255735 248051 209521 128007 98831
J 350278 331570 327840 290033 274833 251893 236581 224944 178341 115089 90590
K 286303 270991 263363 228842 221102 194042 182294 178341 150947 102951 78174
L 274833 232684 228842 194042 186192 178341 166648 158797 132071 98831 69989
M 263363 221102 217261 186192 182294 174443 158797 154900 123998 90590 69989
N 232684 209521 201782 182294 178341 170546 150947 131180 111080 82294 69710
Prices are in Rupees Per Carat Powered by www.idexonline.com
AUGUST 1st 2012
THE DIAMOND RETAIL BENCHMARK INDIA
DI AMOND RETAI L BENCHMARK FOR POLI SHED DI AMONDS
AUGUST 1st 2012
30
Prices are in Rupees Per Carat Powered by www.idexonline.com
AUGUST 1st 2012
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 1342929 1078563 923775 738920 616927 566481 472216 421269 333073 227394 142094
E 1022494 966147 817372 645768 588085 522996 457628 392038 318096 219766 134243
F 973163 803174 717483 602506 580902 494042 428508 370045 318096 196604 127227
G 824499 710356 609744 544766 515757 464922 399332 347884 295713 196604 126336
H 631347 609744 573664 522996 486748 421269 377394 340479 273051 188864 118430
I 580902 522996 479510 457628 421269 370045 340479 295713 219766 134243 102339
J 515757 450390 435802 392038 355234 325557 295713 280568 196604 126336 94265
K 318096 310635 303174 295713 288140 265479 242650 235022 181125 118430 86080
L 280568 273051 265479 257906 250278 227394 212082 204343 134243 102339 86080
M 265479 257906 250278 242650 227394 212082 173385 157739 134243 102339 86080
N 257906 212082 204343 196604 188864 173385 165535 149889 118430 94265 77784
R
o
u
n
d

0
.
9
0
-
0
.
9
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 2091203 1483073 1276615 1062082 894710 654287 554065 503619 394989 277728 156236
E 1462472 1242038 1041258 901726 782071 611414 503619 474777 387751 255345 148497
F 1248942 1020379 873664 838530 696993 589922 489254 467539 373163 240256 140646
G 992595 901726 845546 718318 661414 568430 467539 445824 365924 225167 132851
H 824443 789143 711247 647160 582739 525278 445824 409577 344042 217650 125000
I 675668 661414 597105 554065 525278 474777 402283 394989 329399 202339 125000
J 554065 546882 525278 489254 467539 402283 380457 344042 277728 156236 117205
K 496437 482016 453062 424109 409577 351336 322105 285189 240256 132851 117205
L 402283 394989 373163 365924 336693 314755 285189 270267 225167 132851 109298
M 351336 344042 322105 300000 277728 262806 240256 232739 210022 132851 101392
N 344042 336693 307350 292595 232739 217650 210022 187082 156236 125000 101392
R
o
u
n
d

1
.
0
0
-
1
.
2
4
R
o
u
n
d

2
.
0
0
-
2
.
9
9
R
o
u
n
d

3
.
0
0
-
3
.
9
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 3847160 2890813 2551392 2251559 1616815 1233519 915423 676225 559187 343040 178118
E 2791036 2418151 2198218 1911303 1435523 1098552 833686 662528 510802 307572 152283
F 2331514 2171548 1844488 1630234 1361526 1057962 819989 655624 455290 271882 140646
G 1864532 1663808 1462416 1280735 1193040 942650 765312 628174 434410 225167 132851
H 1422105 1341314 1267261 1166091 1010523 901837 751670 614365 427394 217650 129510
I 1125612 1071492 1057962 922216 833686 758519 669376 566091 427394 202339 125000
J 922216 854120 813196 765312 696826 635022 566091 476114 350111 170824 121882
K 765312 758519 751670 676225 628174 572996 469209 441370 271882 134243 121882
L 621269 586804 559187 524666 489978 434410 392428 357183 243207 132851 115813
M 566091 524666 510802 483073 420434 364254 321771 286192 221548 132851 115813
N 503842 489978 476114 462249 364254 343040 293318 235969 214365 131347 107962
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 7278007 5315089 4457016 3544543 2915535 1812862 1272550 754677 625668 371771 189087
E 4859800 4443764 3769488 3120824 2477840 1572996 1232405 747940 605234 357906 167539
F 4047216 3743040 2975167 2603898 2291871 1452895 1138586 727617 584744 330178 167539
G 2981793 2630457 2444599 2212082 1906069 1346102 977283 714031 523163 302283 160301
H 2358296 2052506 1959354 1779566 1512973 1118430 916704 686915 516314 288307 153118
I 1732962 1619655 1546325 1392873 1218987 909967 829009 632461 454566 267205 153118
J 1459577 1312695 1279287 1172105 984020 815535 714031 557405 433909 238976 153118
K 1125167 1091592 1084855 963864 835802 714031 612027 495768 371771 181904 138641
L 815535 768263 761470 734410 680122 509465 447661 420156 351002 181904 138641
M 673274 666481 639254 605234 530011 433909 406347 337138 281292 181904 138641
N 557405 530011 488920 475167 378675 371771 330178 302283 246047 174722 131347
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 2202450 1606347 1381069 1127171 954621 696938 583797 526837 426448 281459 156236
E 1565479 1394710 1120267 968430 829788 633408 562472 498274 412082 266815 148497
F 1285134 1140924 933797 899165 760022 619265 541147 476782 383185 244766 140646
G 1009911 940757 871437 739031 689866 612194 505457 462416 375947 225167 132851
H 843653 808909 717984 675780 619265 562472 483964 440869 375947 217650 125000
I 703953 675780 612194 576726 541147 483964 433686 404844 361470 202339 125000
J 583797 548274 541147 512584 476782 419265 390423 368708 303341 156236 117205
K 505457 483964 469599 433686 426448 368708 325167 288753 240256 132851 117205
L 440869 412082 383185 368708 346938 317873 288753 274165 225167 132851 115813
M 404844 390423 332461 303341 296047 266815 259521 244766 215033 132851 115813
N 383185 368708 317873 296047 237361 229955 215033 207517 177339 131347 107962
R
o
u
n
d

1
.
2
5
-
1
.
4
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 2572049 1894098 1698608 1441759 1183185 895434 688140 604621 485022 313419 174777
E 1786359 1644655 1367094 1251392 1066982 840312 632572 590646 463753 298998 152283
F 1577116 1394209 1244599 1121715 943541 798886 618597 555568 449555 269989 140646
G 1210468 1135412 1019042 950390 867873 750501 583630 520379 399666 225167 132851
H 1005290 936693 881626 826503 771269 674276 555568 492094 392539 217650 129510
I 840312 812695 764365 708909 639532 583630 492094 463753 385356 202339 125000
J 702004 674276 646492 604621 548552 499165 435356 406793 327840 167316 121882
K 569599 548552 541537 499165 463753 421102 363808 320657 262751 132851 121882
L 477951 449555 435356 399666 392539 349499 313419 284521 233630 132851 115813
M 413920 399666 370991 342261 306236 291759 269989 255457 219042 132851 115813
N 385356 378174 363808 335078 284521 262751 255457 233630 197049 131347 107962
R
o
u
n
d

1
.
5
0
-
1
.
9
9
R
o
u
n
d

4
.
0
0
-
4
.
9
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 9529399 7604343 5678174 4235802 3238920 2073886 1422550 814644 680011 381013 200780
E 8373051 5928285 4163252 3727784 3106682 1755234 1369321 774332 632795 357906 167539
F 6645100 4084131 3516425 3285189 2723051 1675445 1335969 767595 619321 330178 167539
G 5065980 3285189 2981069 2756125 2186637 1469209 1155958 760857 571938 312194 160301
H 3866370 2478062 2372105 2166759 1834967 1369321 989031 686915 551615 305290 158185
I 2947996 1775167 1735245 1635523 1429232 1115924 901949 632795 504009 291481 153118
J 2252895 1535746 1395935 1262695 1169321 922049 801225 558352 449499 270657 153118
K 1415924 1295991 1182628 1069265 955568 787806 659800 497216 374165 200780 151058
L 1176002 1062584 908630 834800 767595 605791 517650 428953 353563 200780 143875
M 942149 807962 693541 646269 605791 531236 449499 387862 319098 200780 143875
N 707016 639532 571938 490423 408463 374165 360412 339755 277617 193708 136693
R
o
u
n
d

5
.
0
0
-
5
.
9
9
THE DIAMOND RETAIL BENCHMARK INDIA
DI AMOND RETAI L BENCHMARK FOR POLI SHED DI AMONDS
AUGUST 1st 2012
Disclaimer: This Diamond Retail Benchmark India (DRB) is an informational and educational tool for diamond consumers. Organized around the the 4Cs - Carat, Cut, Color & Clarity - the DRB India is based on
market data from the diamond trading centers Worldwide and market research assessment of customary retail mark-ups. Endorsed by the All India Gem & Jewelry Trade Federation (GJF), as well as the World Federation
of Diamond Bourses (WFDB) The DRB should be used as background information only. Actual diamond sale prices may be dier compared to this benchmark, depending on demand and supply at time of transaction;
source 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 The All
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
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 11446158 8463307 6262305 4632016 3420100 2244154 1594878 876058 708686 404955 212639
E 8712973 6748497 5421325 4520156 3340924 2237528 1482016 782405 641481 357906 170657
F 6645100 5270100 5243764 4191036 3228786 2230958 1455401 769042 621325 330178 170657
G 5065980 3373942 3367316 3327728 2964755 2045601 1442094 762305 614588 312194 160301
H 3866370 2931737 2779788 2680679 2323552 1568318 1355679 695267 553953 305290 158185
I 2947996 2488976 2389755 2045601 1985969 1408909 1136080 641481 513474 291481 156570
J 2252895 1992595 1952840 1581626 1535134 1182684 976114 567428 466091 274889 153118
K 1720935 1501893 1482016 1262584 1136080 842650 762305 506682 411748 219543 151058
L 1315813 1129399 989477 962751 829287 782405 634744 452506 364031 212639 143875
M 1002784 856013 775724 735523 688530 614588 499944 411748 329788 212639 143875
N 769042 728786 661637 560690 459298 425390 398163 357183 295490 205679 136693
31
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 172383 150668 141982 124610 111581 98163 80345 62472 53563 44655 35690
E 137639 128953 120267 102673 98163 71437 66927 53563 49109 40145 31236
F 128953 111581 102673 84800 80345 66927 62472 49109 49109 40145 31236
G 115924 102673 93708 80345 75891 62472 53563 44655 44655 35690 31236
H 107127 98163 89254 75891 66927 53563 49109 40145 40145 31236 26782
I 102673 89254 84800 71437 62472 49109 44655 35690 35690 31236 26782
J 98163 84800 66927 53563 49109 40145 35690 31236 31236 26782 22327
K 62472 53563 49109 44655 40145 35690 31236 26782 26782 26782 22327
L 49109 44655 40145 35690 31236 26782 22327 17873 17873 17873 17873
M 44655 40145 35690 31236 26782 22327 17873 13363 13363 13363 13363
N 40145 35690 31236 26782 22327 17873 13363 8909 8909 8909 8909
F
a
n
c
y

0
.
1
8
-
0
.
2
2
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 184298 171604 167316 149944 136915 110857 102171 75891 71437 53563 44655
E 171604 167316 162973 141258 128229 106514 97829 66927 66927 49109 35690
F 154287 149944 145601 136915 123886 102171 93486 62472 62472 44655 35690
G 149944 136915 132572 119543 115200 93486 84800 58018 58018 44655 35690
H 136915 128229 123886 115200 106514 89143 75891 53563 53563 44655 31236
I 123886 119543 115200 102171 80345 75891 71437 49109 49109 40145 31236
J 115200 97829 89143 71437 66927 62472 58018 44655 44655 35690 31236
K 89143 80345 71437 66927 58018 53563 49109 40145 40145 35690 26782
L 71437 66927 62472 53563 49109 44655 40145 35690 35690 31236 22327
M 62472 58018 53563 49109 44655 40145 35690 31236 31236 22327 17873
N 58018 53563 49109 44655 40145 35690 31236 26782 26782 22327 13363
F
a
n
c
y

0
.
2
3
-
0
.
2
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 339031 260690 228953 216871 196659 180401 151448 143207 126392 100947 70768
E 260690 228953 200724 192595 180401 167984 147327 134855 109410 83797 66425
F 236860 212862 188586 180401 167984 134855 130624 113641 105178 70935 57739
G 216871 188586 172160 159744 151448 126392 122160 96715 92483 62249 53396
H 192595 180401 155624 147327 139087 122160 105178 88140 83797 62082 49053
I 180401 163864 130624 126392 122160 113641 100947 83797 70935 57906 49053
J 139087 130624 109410 105178 100947 96715 92483 79454 66425 49109 40145
K 122160 109410 100947 96715 92483 88140 83797 70768 66425 44655 35690
L 105178 100947 92483 83797 79454 75111 70768 66425 49053 40145 31236
M 100947 92483 83797 79454 75111 70768 66425 57739 49053 40145 31236
N 92483 83797 79454 75111 70768 62082 57739 53396 44655 40145 31236
F
a
n
c
y

0
.
4
5
-
0
.
4
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 441203 330679 280401 268708 249109 217817 178229 174220 153953 133519 83296
E 334521 280401 256960 225668 221715 190145 170156 158018 149944 95991 66425
F 295880 249109 237416 217817 213920 178229 166091 149944 137639 91759 57739
G 249109 233463 209967 194098 182238 170156 162082 145880 129399 91759 57461
H 233463 206013 194098 190145 178229 166091 137639 133519 125223 87528 57461
I 206013 190145 178229 174220 162082 145880 133519 121102 104454 74833 53118
J 170156 153953 149944 145880 141759 133519 121102 104454 95991 61804 48775
K 141759 133519 121102 116982 112862 104454 91759 87528 79065 53118 40089
L 125223 112862 104454 91759 87528 83296 74833 70490 53118 40145 35690
M 121102 108686 91759 87528 79065 74833 70490 66147 49053 40145 31236
N 108686 91759 87528 83296 74833 66147 61804 57461 44655 40145 31236
F
a
n
c
y

0
.
5
0
-
0
.
6
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 244878 220100 203508 191147 153062 136136 127673 101615 88586 71214 49109
E 215924 199388 182684 169989 144599 127673 105958 92929 88586 62472 44655
F 186915 182684 169989 148831 140367 123330 101615 88586 79900 58018 40145
G 157294 153062 148831 140367 136136 118987 97272 84243 75557 49109 35690
H 148831 140367 131904 127673 123330 110301 92929 75557 66871 49109 35690
I 140367 123330 118987 114644 110301 105958 84243 66871 62472 44655 35690
J 118987 101615 92929 84243 79900 71214 66871 62472 53563 40145 31236
K 92929 84243 79900 75557 71214 58018 53563 49109 40145 35690 26782
L 75557 71214 66871 62472 58018 49109 44655 40145 40145 31236 26782
M 66871 62472 58018 53563 49109 44655 40145 35690 31236 26782 17873
N 62472 58018 53563 49109 44655 40145 35690 31236 31236 26782 13363
F
a
n
c
y

0
.
3
0
-
0
.
3
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 294154 250501 218151 214087 193597 156403 135245 109855 109855 83964 62249
E 250501 222160 189477 181236 172940 143708 122550 105624 96993 70935 57906
F 234298 210022 181236 172940 164699 126782 118318 101336 92650 70935 53563
G 206013 181236 168820 156403 147940 122550 109855 92650 79621 62249 44655
H 181236 160523 152171 143708 131013 114087 101336 83964 75278 57906 44655
I 156403 152171 126782 122550 114087 109855 92650 75278 70935 57906 44655
J 131013 105624 101336 96993 92650 88307 83964 70935 62249 49109 35690
K 109855 101336 96993 92650 88307 83964 75278 62249 53563 40145 31236
L 101336 96993 88307 79621 75278 70935 66592 53563 44655 35690 26782
M 96993 88307 79621 75278 70935 66592 53563 40145 35690 26782 22327
N 83964 79621 75278 70935 66592 57906 49109 35690 35690 26782 22327
F
a
n
c
y

0
.
4
0
-
0
.
4
4
F
a
n
c
y

0
.
7
0
-
0
.
7
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 567149 512472 427840 397996 322661 276837 230512 226615 214922 152116 103508
E 438920 405457 390535 375557 318875 265256 211024 207127 195379 148163 95212
F 397996 379287 349165 341592 307405 257572 207127 195379 195379 140145 86915
G 352895 326503 322661 303563 272996 253675 191481 187528 175780 119933 82684
H 311247 276837 272996 257572 245935 222773 179733 175780 163976 107628 69989
I 276837 265256 242094 222773 218875 207127 163976 140145 132071 95212 61526
J 191481 183630 175780 167984 163976 160022 144154 107628 99332 65757 48775
K 163976 160022 152116 144154 136136 128007 119933 103508 79065 57238 40089
L 144154 128007 119933 111748 103508 99332 95212 91091 69989 52895 39866
M 140145 123998 111748 99332 91091 82684 78452 69989 65757 48552 35523
N 123998 115869 107628 95212 86915 74220 69989 61526 48552 40145 31236
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 613530 541036 475557 457294 354009 282461 248051 240423 236581 166648 107016
E 541036 475557 420713 383797 335356 278619 224944 221102 209521 158797 98831
F 486470 435356 372661 354009 320267 274833 221102 205624 205624 143040 90590
G 391203 350278 346548 305178 286303 255735 217261 190089 190089 127227 82684
H 312695 308964 290033 270991 263363 244265 194042 182294 178341 123218 78174
I 278619 267205 244265 240423 228842 213363 174443 158797 150947 102951 69710
J 224944 217261 205624 186192 182294 166648 147049 115089 102951 69710 52784
K 170546 166648 158797 154900 150947 139087 127227 107016 82294 61247 44154
L 150947 131180 123218 119154 111080 107016 98831 94710 73998 57016 39866
M 143040 127227 119154 111080 94710 86470 82294 73998 69710 48552 39811
N 127227 119154 111080 98831 90590 78174 73998 65479 57016 44154 35468
F
a
n
c
y

0
.
8
0
-
0
.
8
9
Prices are in Rupees Per Carat Powered by www.idexonline.com
Disclaimer: This Diamond Retail Benchmark India (DRB) is an informational and educational tool for diamond consumers. Organized around the the 4Cs - Carat, Cut, Color & Clarity - the DRB India is based on
market data from the diamond trading centers Worldwide and market research assessment of customary retail mark-ups. Endorsed by the All India Gem & Jewelry Trade Federation (GJF), as well as the World Federation
of Diamond Bourses (WFDB) The DRB should be used as background information only. Actual diamond sale prices may be dier compared to this benchmark, depending on demand and supply at time of transaction;
source 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 The All
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
AUGUST 1st 2012
THE DIAMOND RETAIL BENCHMARK INDIA
DI AMOND RETAI L BENCHMARK FOR POLI SHED DI AMONDS
AUGUST 1st 2012
32 AUGUST 1st 2012
Prices are in Rupees Per Carat Powered by www.idexonline.com
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 838697 595323 522996 464922 421269 355234 295713 273051 257906 181125 110412
E 731793 479510 472216 443096 392038 347884 273051 257906 242650 173385 102339
F 645768 443096 392038 377394 370045 333073 265479 250278 235022 149889 94265
G 406682 399332 370045 362639 333073 325557 257906 242650 227394 149889 94265
H 347884 325557 318096 310635 303174 280568 250278 227394 219766 134243 86080
I 325557 310635 280568 273051 265479 257906 242650 212082 204343 126336 77784
J 235022 219766 212082 204343 196604 188864 173385 165535 157739 110412 69488
K 204343 196604 188864 181125 173385 165535 157739 149889 134243 86080 69488
L 181125 165535 157739 149889 142094 134243 126336 118430 110412 77784 52617
M 173385 157739 142094 134243 118430 110412 102339 94265 86080 69488 52617
N 165535 126336 118430 102339 94265 86080 77784 69488 69488 44154 35468
F
a
n
c
y

0
.
9
0
-
0
.
9
9
)
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 1276615 985635 817372 668541 546882 438586 365924 329399 270267 187082 125000
E 936748 817372 704120 589922 525278 416815 336693 292595 262806 173385 117205
F 803285 739644 597105 561247 503619 409577 329399 285189 240256 156236 101392
G 618597 597105 554065 510857 474777 387751 322105 277728 227394 156236 94265
H 554065 474777 453062 424109 402283 358630 300000 247829 225167 148497 86080
I 438586 387751 380457 373163 344042 307350 270267 240256 217650 132851 85356
J 365924 336693 329399 314755 292595 270267 232739 202339 194710 110412 85356
K 292595 285189 277728 270267 255345 225167 202339 187082 171659 109298 77227
L 232739 225167 217650 210022 202339 194710 179399 163920 132851 109298 77227
M 179399 171659 163920 156236 148497 140646 125000 117205 117205 93430 68987
N 171659 163920 156236 148497 140646 125000 117205 93430 85356 77227 68987
F
a
n
c
y

1
.
0
0
-
1
.
2
4
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 2631292 1951392 1817762 1415367 1186303 888196 628174 448330 357183 222494 148942
E 2258185 1623552 1408630 1247049 1017316 847327 586804 441370 328898 200000 123608
F 1683853 1455679 1253786 1044432 990200 779009 579955 427394 307572 177339 101392
G 1240256 1199777 1057962 922216 833686 703675 572996 420434 300445 163530 94265
H 1030846 894989 806347 799555 737973 593708 531570 399388 300445 163530 90980
I 792706 751670 676225 566091 545379 524666 462249 364254 240924 163530 89143
J 607461 566091 531570 510802 476114 427394 399388 307572 214365 134243 85356
K 462249 455290 427394 406403 399388 385356 350111 279009 207127 126837 83129
L 385356 371269 343040 307572 293318 271882 264699 228786 170824 119376 83129
M 335969 321771 307572 279009 264699 199889 192595 185356 144766 111915 83129
N 293318 286192 271882 250390 207127 192595 170824 148942 134243 106514 75334
F
a
n
c
y

2
.
0
0
-
2
.
9
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 4688140 2882405 2789588 2245323 1812862 1272550 876281 577895 475167 267205 148942
E 3789365 2530958 2325056 2059131 1732962 1232405 761470 523163 406347 238976 124109
F 2650334 2351670 1959354 1732962 1626281 1058018 720824 516314 371771 210523 102227
G 2245323 1879454 1786247 1472940 1339421 876281 714031 495768 357906 189087 102227
H 1679621 1646269 1439588 1239087 1004232 734410 652895 427004 344042 174722 94822
I 930178 923441 916704 909967 883018 707238 564254 406347 288307 163530 94822
J 889755 680122 673274 666481 646102 543708 488920 378675 267205 153118 87416
K 598385 571102 543708 536860 523163 440813 378675 309298 224777 138641 83129
L 406347 399443 392483 385579 364811 330178 274276 246047 174722 124109 83129
M 357906 344042 337138 323218 309298 274276 231849 189087 160301 111915 83129
N 309298 295323 281292 260189 224777 210523 196269 181904 145880 106514 75334
F
a
n
c
y

3
.
0
0
-
3
.
9
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 1360523 1078953 850612 760022 590924 476782 404844 361470 325167 222494 131347
E 1209633 975334 760022 654621 569599 469599 390423 354232 288753 200000 123608
F 878396 773998 598051 590924 534020 462416 383185 346938 281459 177339 101392
G 633408 626336 576726 569599 512584 426448 375947 339699 252116 156236 94265
H 576726 519710 455234 433686 419265 368708 339699 259521 237361 154454 86080
I 462416 419265 412082 404844 361470 332461 288753 252116 229955 132851 85356
J 390423 354232 346938 332461 303341 288753 281459 244766 207517 115813 85356
K 310579 296047 281459 274165 259521 229955 222494 207517 192483 115813 77227
L 266815 252116 229955 222494 207517 200000 184911 177339 162082 115813 77227
M 244766 237361 207517 192483 162082 154454 131347 123608 123608 100167 76448
N 222494 215033 192483 184911 146771 139031 123608 100167 85356 84410 68987
F
a
n
c
y

1
.
2
5
-
1
.
4
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 1820045 1305902 1080679 909187 757405 618597 506292 421102 342261 222494 144766
E 1251392 1217316 1012138 888530 743597 611637 499165 399666 306236 200000 123608
F 1128563 1005290 902339 771269 646492 590646 485022 392539 291759 177339 101392
G 881626 860969 750501 688140 625557 555568 463753 385356 277283 156236 94265
H 743597 702004 611637 555568 534465 499165 413920 342261 255457 154454 90980
I 618597 583630 527450 492094 449555 421102 370991 306236 240924 152283 85356
J 421102 399666 392539 385356 370991 342261 313419 277283 207517 121882 85356
K 363808 327840 320657 306236 298998 291759 255457 219042 197049 115813 83129
L 313419 262751 233630 226336 219042 211748 204399 189644 162082 115813 83129
M 255457 248218 226336 204399 189644 182238 167316 159855 144766 106514 83129
N 226336 219042 211748 197049 159855 152283 144766 137194 121882 106514 75334
F
a
n
c
y

1
.
5
0
-
1
.
9
9
F
a
n
c
y

4
.
0
0
-
4
.
9
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 4769599 3892762 3450390 3152951 2610523 1469209 1002394 605791 476782 284521 158185
E 3925780 3126559 2954621 2438363 2246269 1329287 901949 538029 422105 249833 129510
F 2842149 2524443 2378731 2266147 2166759 1289310 740646 517650 387862 214866 107795
G 2266147 2153452 1821659 1815033 1715312 1222661 714031 497216 381013 193708 102227
H 1682071 1675445 1668820 1662138 1409243 1102617 707016 456292 374165 186637 100557
I 1102617 1095935 1089254 1082572 1055902 888530 673274 435802 326002 165312 94822
J 975612 942149 922049 875111 854955 740646 531236 394710 277617 153118 93263
K 619321 612528 605791 598998 592261 585468 463140 332906 224777 143875 85969
L 510802 490423 483575 476782 469933 422105 367261 249833 174722 124109 85969
M 415312 401559 394710 387862 374165 346659 291481 193708 172439 122272 85969
N 312194 298385 284521 270657 249833 235913 228898 186637 165312 122272 78675
F
a
n
c
y

5
.
0
0
-
5
.
9
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 7293820 6065200 4836024 3920935 3492595 2230958 1661247 869376 708686 404955 212639
E 5999499 5099109 4138307 3420100 3222160 1985969 1142706 587639 479621 267984 163641
F 4711024 3868207 3571715 3182572 2806236 1694432 1076114 567428 466091 240367 120991
G 3617873 2786414 2588140 2495546 1966091 1495267 1022773 533686 438976 219543 113808
H 2640980 2316927 2065423 2019098 1886637 1335746 929399 472884 377673 205679 106626
I 1886637 1667873 1448775 1442094 1408909 1202673 835969 466091 343486 198719 106626
J 1495267 1368987 1116091 1109410 1082795 976114 742205 445768 288641 184744 99388
K 1116091 949443 856013 849332 789087 648218 533686 350334 226503 149499 99388
L 822606 681793 574165 560690 520212 452506 384521 261080 177728 149499 99388
M 614588 506682 452506 425390 384521 350334 295490 205679 177728 149499 92149
N 459298 425390 384521 329788 261080 247272 233408 198719 177728 142372 84911
Disclaimer: This Diamond Retail Benchmark India (DRB) is an informational and educational tool for diamond consumers. Organized around the the 4Cs - Carat, Cut, Color & Clarity - the DRB India is based on
market data from the diamond trading centers Worldwide and market research assessment of customary retail mark-ups. Endorsed by the All India Gem & Jewelry Trade Federation (GJF), as well as the World Federation
of Diamond Bourses (WFDB) The DRB should be used as background information only. Actual diamond sale prices may be dier compared to this benchmark, depending on demand and supply at time of transaction;
source 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 The All
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
THE DIAMOND RETAIL BENCHMARK INDIA
DI AMOND RETAI L BENCHMARK FOR POLI SHED DI AMONDS
AUGUST 1st 2012

IIJS, BCEC Goregaon Mumbai
Hall # 6
rd th
23 -27 August 2012
6W091, 93, 95, 6U092, 94, 96 Location 1:
Location 2: 6U035, 37, 6T036, 38
Hall # 1
1C012, 1G026, 28 Location 3:
R
34 IDEX INDIA RETAIL MAGAZINE| NO 1: COVER STORY
by Vinod Kuriyan
35
Expect to see a lot of lightweight jewellery
manufacturers will try and maximize the look at minimal
cost! From the feedback that many retailers have given
me, theyre going to keep their purchases strictly to
what is absolutely necessary. Many told me they are
melting and recycling their old jewellery to come up
with new, lightweight product without going to the cost
of completely new acquisitions. So dont expect to see
too much product innovation from manufacturers either.
Lets face it, the economy is not going anywhere and
consumer sentiment is down. We all know that and so in
terms of generating business, no ones expecting much
of the India International Jewellery Show (IIJS) the only
really serious buyers are going to be those who have just
opened new stores and have no option but to stock up,
says Shailesh Sanghani of Priority Jewellery.
IDEX INDIA RETAIL MAGAZINE| NO 1: COVER STORY
IDEX INDIA RETAIL MAGAZINE| NO 1: COVER STORY 36
But, he adds, I dont think we should all just sit around
and wait for something to happen hope for some
new government initiative to pull the country out of the
economic doldrums. We have got to make something
happen ourselves. For the gem and jewellery industry,
I think it is crucial to come together and launch some
sort of concerted promotion and marketing effort for our
product. The industry came together surprisingly well
over the issue of the proposed excise duty on jewellery.
Weve got to do something similar about marketing and
promotion.
Sanghani:
Retailers recyling
a lot right now
consumers and how to come up with product they will
want actively seek out.
As it is, Rao observes, the Indian jewellery production
industry is still operating way below capacity. Were only
operating at some 60 percent of our installed capacity,
so even if there had been a surge in demand, it isnt
as though we could have rushed to meet it. I think the
depressed consumer market now offers us a chance to
think about the long term instead of just trying to figure
out how to cope with the here and now.
Work Towards Next Year
The way Rao puts it, Weve got to start working on being
ready for next year. He looks back at the recent past
and points out, We had a really good run up from the
1990s through to 2010. But we never really got to grips
with what excites the consumer and what we could do to
create some longing for our product.
IDEX INDIA RETAIL MAGAZINE| NO 1: COVER STORY 37
Mahesh Rao, CEO of Peakok Jewellery, that manufactures
and distributes product for jewellery retailers throughout
the country, concedes that these arent good times. Yes,
it is a tough year, he admits, but youve got to take a
step back and look at the big picture. Jewellery has been
selling in this country for some 5,000 years and you
can bet there have been some horribly bad times over all
that time. Jewellery sold when the foreign exchange rate
was Rs.7.50 to the US dollar and it will still be selling if it
goes up to Rs.60 to the dollar. So what is the worst that
can happen if we have on bad year?
Rao thinks this is the time for the Indian gem and
jewllery industry to start thinking long-term about its
product. Developing contemporary design has to be a
priority long-term goal for us, he observes. The product
development and manufacture part of the process are
relatively short-term, what Im talking about is getting
down to really understanding what moves and motivates
Rao thinks the way forward is for the industry to go to
the very bottom of the product pyramid. A really solid
way forward is to look at the traditional craftsmen who
have been turning out jewellery product for thousands of
years in this country. We need a World Craft Council tie-
up and get to grips with what the traditional craftsmen
have done all these years to create all those traditions
that are so famous now.
Rao wants to build up slowly but solidly. I think we
should work on some four crafts this year and work at
them thoroughly. Thats the way forward. We have to
stop crying about the present and prepare ourselves to
start investing in the future. We have to do something
aimed at the long term. The time to do it is now.
Gem & Jewellery Export Promotion Council (GJEPC) Vice
Chairman Sanjay Kothari, whose Diatrends Jewellery is a
38 IDEX INDIA RETAIL MAGAZINE| NO 1: COVER STORY
regular participant at the IIJS show, is also candid when
he says the outlook isnt all that hot. If you look at the
way the JCK Las Vegas and Hong Kong Jewellery shows
went, you know for sure that the outlook isnt so great,
he notes. India is now firmly connected to the global
economy and the global economy is going through
uncertain times. Add the fact that our domestic political
and economic outlook is pretty uncertain right now and
you dont have to be some great forecaster to know
that the IIJS is going to be sailing in a tough current.
Personally, we at Diatrends are therefore banking on
our usual product small diamonds below 0.10 carat
to base our product offering for the show on. And even
then, who knows?
But Kothari too doesnt think the situation calls for a
passive throwing in of the towel. If you look at the signs,
the gem and jewellery industry isnt just giving up, they
know that there are better times that will come in the
future. There is a waitlist of some 479 companies waiting
to get exhibition space at the IIJS. And as for the India
International Jewellery Week (IIJS) that runs over the
week just preceding the IIJS, all 32 designer-manufacturer
slots have been taken, with the Gemological Institute
of America (GIA) and the International Gemmological
Institute (IGI) sponsoring a whole slew of new designers.
In fact, theres so much pressure that were looking
at perhaps expanding the show and increasing the
participation.
The Japanese Are Coming
Another initiative that will run through the IIJW is the
special participation of the Japanese jewellery retail
industry. It is the 60th year of the Indo-Japan business
association and they are looking to do something special
to commemorate it.
Atul Parikh, who is based in Japan and partnered the
late Japanese designer Kazuo Ogawa and still runs his
jewellery firm in partnership with Ogawas family, has
been working on the Indo-Japan gem and jewellery
commemoration of the 60th anniversary of business ties
between the two countries. He told IDEX Magazine
IDEX INDIA RETAIL MAGAZINE| NO 1: COVER STORY 39
India Retail by email that the Japanese contingent was
really looking forward to expanding business ties with
India.
All the signs do indeed point to an Indian industry that
does not seem the slightest bit negative about the
future. At a press conference hosted by the GJEPC, IIJS
convener Haresh Zaveri announced that this years show,
the 29th edition, would feature over 800 exhibitors in
1,900 booths.
Zaveri told the media that the show, which is hard-
pressed for space, is looking at a variety of options to
try and accommodate the 479 companies that want
to get in as exhibitors. One solution being offered to
prospective exhibitors is the multi-user mezzanine
booth. Zaveri explained that this meant that booths could
be erected with upper or mezzanine floors that would
house companies other than those on the ground floor.
Hitherto, mezzanine floors have been simply expansions
of the ground-floor exhibitors own exhibition area.
Our focus is on offering new exhibitors space at the
show rather than granting existing exhibitors more
space, Zaveri said. Any cancellations among participants
would mean that the freed-up space would be offered
to someone from the waitlist rather than being given as
extra space to existing exhibitors.
Zaveri said 1,800 overseas buyers were expected this
40 IDEX INDIA RETAIL MAGAZINE| NO 1: COVER STORY
IDEX INDIA RETAIL MAGAZINE| NO 1: COVER STORY 41
42 IDEX INDIA RETAIL MAGAZINE| NO 1: COVER STORY
43
has changed its organization to become customer-
centric, by collecting and analyzing customer data and
making strategies based on insights gleaned from the
data. This outlook explains why it has become imperative
for the organized retail sector in India to embark on a
journey of customer centricity and how they could go
about doing so, by an effective use of customer data.
The Technopak report went on to note, The most
fundamental aspect of developing customer-centricity
is to understand the customers and for this, collecting
data on who they are, what they buy, when they buy,
how they buy, etc. is of paramount importance. It is very
important for Retailers to set up robust and excellent
processes which will enable them to collect customer
data. One of the biggest drawbacks that the Indian
retailers have is that their existing systems and processes
have not been built to capture customer data or link it to
the transactions
Thus while nobody expects this years IIJS to buck the
global and national economic trends, how one views the
situation and what one does about it will be crucial to
the well-being of the industry in 2013 and going onward
from there.
year as compared to last years 1,300. He added that
between 650 and 700 buyers had already registered for
the show.
Indeed, the future of the Indian gem and jewellery
industry and the strength of consumer demand in the
country looks so good for the future that neighbouring
Pakistan is sending a 100-member delegation to this
years show and the GJEPC is working towards providing
them with a fully-fledged Pakistani pavilion at the 2013
IIJS.
Time To Start Really Understanding The Consumer
Many industry watchers think that this is the time for the
Indian gem and jewellery industry to indeed take stock of
what it could do to ensure that the future remains as rosy
as the past has been. The development of design apart,
much of what needs to be done is cited as a glaring need
even in other retail sectors. Primarily, this is about really
understanding the consumer.
In a report that it published in September last year, retail
consultants Technopak had noted, The success of many
retailers across the world and the failure of others can be
attributed to one major silver bullet how well a retailer
IDEX INDIA RETAIL MAGAZINE| NO 1: COVER STORY
44 IDEX INDIA RETAIL MAGAZINE| NO 1: STONE SOURCES
he Responsible Jewellery Council (RJC) and
Solidaridad, a non-proft organization with a focus on
sustainable trade, recently announced their collaboration in
ensuring better, more transparent and accountable practices
throughout the gold supply chain.
The two have joined forces to encourage broader
participation in RJC by companies in the Global South.
A key focus will be Solidaridads new pilot project, which
uses RJCs Code of Practices and Chain-of-Custody
standard as tools for improving practices at industrial gold
mines.
Solidaridad developed the pilot to test an innovative
approach for decreasing the risks and increasing the benefts
of industrial gold mining for people and the environment.
It will ask mining companies to meet internationally-
recognized standards for responsible social and
environmental practices and verify those practices through
independent audits.
Solidaridad will provide guidance on setting targets related
to implementing the standards and broader development
goals, and on identifying the resources needed to reach
those targets.
Training and capacity-building topics will include human
rights, community engagement, confict resolution and
environmental management. In particular, Solidaridad will
work to support the companies engagement in meaningful
community development.
To encourage mining companies to commit to meeting the
Code of Practices, Solidaridad will partner with leading
branded jewelry companies that wish to ensure that their
gold is sourced responsibly. Together, they will pilot test
traceable supply chains from participating mines to the
market using the Chain-of-Custody standard. In the two-
T
year pilot phase, Solidaridad will work with up to four
European jewelry brands and three mining companies.
RJC and Solidaridad say they will work together to share
the outcomes of the project and use the lessons learned to
strengthen the RJC system.
The pilot project will take RJCs standards to the
small - to medium-scale industrial gold mining sector, and
help grow new approaches to responsible sourcing with
these enterprises, says Fiona Solomon, RJC director
Standards Development. The jewelry supply chain as a
whole benefts from proactive multi-stakeholder efforts
such as these, and we look forward to working alongside
all involved. IDEX
RJC anD SolIDaRIDaD
Collaborate on Gold MininG StandardS Pilot ProjeCt
STonE SouRCES
nglo American has received the fnal approval needed
to acquire the Oppenheimer familys 40 percent stake
in De Beers. The approval brings the deal to Botswanas
doorstep. Botswana now needs to decide if it wants to
exercise its right and increase its stake in the company to
25 percent.

The South African Minister of Mineral Resources gave
Anglo American its approval to acquire Oppenheimers
share in De Beers.

Now that all regulatory approvals have been granted,
A
South AfricA
Approves Anglo AmericAns De Beers purchAse
Anglo will make the formal offer to Oppenheimers CHL
Holdings Limited and the government of Botswana (GRB)
under the terms of the De Beers Shareholders Agreement.
Anglo currently holds a 40-percent stake in De Beers. If
Botswana does not exercise its right, Anglos share will
increase to 85 percent. Last November, Anglo American
agreed to pay the Oppenheimers $5.1 billion in a cash
transaction for this stake.

Anglo Amreican said it expects the transaction to close in
the second half of 2012. iDEX
fAthEr of thrEE KillED At BotSwAnA MinE
34-year-old foreman was killed at Jwaneng diamond
mine in Botswana while driving inside the pit.
Motshwari Raseiteo was killed during what was described
as a slope failure.

Debswana suspended all production activities until the
investigations into the accident were completed.
The company said Raseiteo had been employed as a general
shift foreman in the mining department since March 2012.
A Bray, Kgalagadi District resident, he is survived by his
wife and three children. iDEX
A
46 IDEX INDIA RETAIL MAGAZINE| NO 1: STONE SOURCES
io Tinto, a leading diamond and gold miner and a
founding member of the Responsible Jewellery
Council (RJC), is the frst mining company to achieve RJC
certifcation.

The certifcation covers Rio Tintos Diavik, Argyle and
Murowa diamond mines and Kennecott Utah Copper,
which produces gold and silver used in the jewelry industry.

R
Rio TinTo
Becomes First miner to Achieve rJc certiFicAtion
The Bunder diamond project in India and Oyu Tolgoi in
Mongolia have not been included in the audit because they
are not yet in commercial production and do not supply the
jewelry industry, RJC stated.

The miner has, however, assured the RJC that both projects
are being developed in accordance with the RJCs Code of
Practice.

We support stakeholders demands for greater
transparency and appreciate that people want to know
that the jewelry they buy has been mined responsibly and
ethically, said Harry Kenyon-Slaney, Rio Tintos chief
executive, Diamonds and Minerals.

The CEO stated, As a founding member of the RJC,
Rio Tinto is proud that our commitment to sustainability,
integrity and environmental stewardship has been
recognized and that we are the frst mining company to
receive this recognition from the RJC.

Rio Tinto currently occupies a unique position within
the international mining industry of being the only
certifed gold and diamond miner, said RJC CEO
Michael Rae.
iDEX
RichlanD
reports 33% increAse in net proFit in 2011
image: rio tinto
RichlanD
reports 33% increAse in net proFit in 2011
anzanite producer Richland
Resources Ltd announced a
33-percent increase in net profts for
the year ended December 31, 2011.
The company saw its proft rise from
$0.6 million in 2010 to $0.8 million in
2011.

The miner also saw a 29 percent
revenue increase to $20.5 million
($15.9 million in 2010).

During the year, production levels
increased by 200,000 carats an
increase of 9 percent from 2.2
million carats in 2010 to 2.4 million
carats in 2011.

Despite the increase in production,
T
the grade decreased 2 percent to 58
carats per ton compared to 59 carats
per ton in 2010.

Our second year of proft is testimony
to our continued margin enhancement
program and signifcantly enhanced
production rates, said CEO Bernard
Olivier.
Despite the continuation of the
global fnancial issues the company
was able to achieve a total revenue
of $20.5 million and EBIDTA of
$3.5 million. We continue to remain
focused on creating shareholder value
during 2012 through developing new
markets, especially in China.
iDEX image: tanzanite Foundation
48 IDEX INDIA RETAIL MAGAZINE| NO 1: STONE SOURCES
Untitled-5 1 12-07-16 1:38 PM
IDEX INDIA RETAIL MAGAZINE| NO 1: INDUSTRY NEWS 51
Industry news
GItanjalI
Crowns Pantaloon Fresh FaCe hunt
he Gitanjali Group was the main partner to the
Pantaloons Fresh Face Hunt, which ended in a
dazzling grand fnale on June 23. The winners were literally
crowned by Gitanjali, which fabricated the diamond-
studded gold crowns they wore.
The event was the culmination of a three-month hunt for
new, fresh faces for Pantaloons to project to the consumer.
At auditions in 65 Pantaloon stores across the country, over
5,000 hopefuls entered the contest over a period of just
two weeks.
That huge crowd was eventually thinned down to just 20
potential fresh faces, who were groomed and trained by
professionals to walk the ramp at the grand fnale during
which the winners were picked.
Speaking about the event, Pantaloons Chief of Marketing
Madhumita Dutta said, Its great to see that our unique
engagement platform, the Pantaloons Fresh Face Hunt
has been so well received across the country. Pantaloons
stands for fashion and a lot of style. We are delighted that
we could make the dreams of many come true and expose
the youth of our country to a life changing experience in
the fashion fraternity.
IdeX
t
Gitanjali Jewels Vice President Karthikeyan Vishnu with the finalists and the crowns.
Models showcase the collection at the launch event.
Buyers at the Gemfields auction in Jaipur.
IDEX INDIA RETAIL MAGAZINE| NO 1: INDUSTRY NEWS 52
ewellery retail major Tanishq launched a new collection
aimed at the progressive Indian woman. Named the
Ganga collection after the river that is revered all across the
country, the line is fabricated in 18-karat white gold and set
j
tanIshq
launChes the GanGa ColleCtion
with diamonds and uncut colored gemstones. It is priced
from Rs.35,000 upward and available at Tanishq outlets
across the country.
According to Sandeep Kulhalli, Tanishq Vice President
for Retail & Marketing, the new collection is aimed at
making the jewellery segment more innovative and to
differentiate collections on the basis of parameters like
design and materials.
Tanishq says the design of the collection refects the many
moods of the river, ranging from foaming fury as it
rushes down the Himalayas, through a more sedate fow
that further slows to show a calm surface and fnally the
mixing of waters at the famous confuence of the Ganga
and Yamuna rivers.
IdeX
he 13 percent weakening of the Indian rupee against
the US dollar over the past eight months impacted
the offer prices at the Gemfelds auction of lower-end
rough in Jaipur in June. The company said that this was due
to the fact that much of the polished that comes out of this
rough is consumed in India itself and the rupee value of
the fnal product was thus adversely impacted.
The auction generated revenues of $9 million. The average
price at the auction was $2.61 per carat. Gemfelds said
that overall demand remained strong with some weakness
apparent only in the lowest quality grades.
Gemfelds operates the Kagem mine in Zambia, the worlds
only organized emerald mine. It holds regular auctions of
its goods, with high-end material being put on the block at
Singapore. The latest auction was the fourth and fnal one
for the current fnancial year which ended on June 30. This
t
weak IndIan rupee
imPaCts GemFields emerald auCtion
years four auctions together have generated a total of $77
million in revenue.
IdeX
why did jewelry suPPlier retail PriCes Fall in may?
Ken Gassman answers this and many other riddles at: www.idexonline.com/research/jewelrysup4
Untitled-3 1 12-07-19 11:35 AM
IDEX INDIA RETAIL MAGAZINE| NO 1: INDUSTRY NEWS 54
Kiran Wins iDCa aWarD
e Beers Diamond Trading Company (DTC))
Sightholder Kiran Gems Private Limited won
the New York-based Indian Diamond & Colored-stone
Association (IDCA) award for being the highest exporter
of white diamonds from India during fscal 2011-2012.
Kiran Gems Managing Director Mavji Patel received the
award at the IDCAs gala event on June 2 at the JCK Las
Vegas show.
Kiran had also bagged the highest exporter award in the
DTC category for the same period from the Gem & Jewellery
Export Promotion Council (GJEPC). Commenting on the
double win, Patel observed, We simply concentrate on our
performance and the awards follow.
Kiran is currently in the expansion mode. A new 200,000
square foot factory is being readied in Gujarat while
the frm has opened offces in Shanghai and Shenzhen
to better service its Chinese clients. In Indias domestic
market, Kiran has ramped up its jewelry production for the
bridal and fashion segments.
iDEX
D
he eternal bond between a mother and her daughter
was celebrated by Deepa Mallick when she gifted her
daughter, Bengali actress Koel Mallick beautiful platinum
jewellery by Indian Gems & Jewellery Creations.
The company said in a statement, The unchanging qualities
of the metal refect the sincerity and unconditional love
shared between a mother and daughter. This divine and
everlasting relationship is best celebrated with platinum.
Deepa Mallick said, I wish my daughter every success in
her life and may she always be happy.
Koel Mallick said, Platinum for me is very special as
it defnes who I am. Its modern appeal with a touch of
traditional in its designs is what attracts me the most and
it stands for todays generation. I am truly touched by
my mothers gesture of gifting me beautiful and eternal
platinum jewellery. She is my support system in whatever I
do. This gift of platinum jewellery will be cherished by me
all my life.
iDEX
T
KoEl MalliCK & MoThEr DEEpa
Celebrate bond of love
vI SI t
WWW. I DEXONLI NE. COM
for lI ve UPdateS
Koel Mallick with her mother.
SI GNI TY I NDI A PVT. LTD. / MUMBAI - I NDI A / T : +91 22 2851 6876/ 79 / F: +91 22 2851 1675 / E- MAI L: OFFI CE@SI GNI TY. I N WWW.SWAROVSKI-GEMS.COM

THE PURE BRILLIANCE
CONCEPT FOR ZIRCONIA
A new dimension of brilliance. Matchless colors. Fancy cuts. Expanding the landmark Pure Brilliance Cut to convey the exact
geometry and exquisite color of its zirconia, SWAROVSKI GEMS introduces ve classic Zirconia Fancy Diamond Cuts in
ve compelling Zirconia Diamond Colors. Five nely cut faces, each expressing perfection in ve different ways from SWAROVSKI GEMS.
For customers everywhere, the Made with SWAROVSKI ZIRCONIA tag means products built from quality
by the partner of a known and trusted brand.
VISIT US AT THE IIJS
AUGUST 23 27, 2012
NSE COMPLEX GOREGAON,
MUMBAI, INDIA
BOOTH 1H041, 1H043, 1H045, 1H047,
1G042, 1G044, 1G046, 1G048
ICA
Moves InternatIonal HQ to Hong Kong
A
ttesting to the growing importance of the Asian
markets, the International Colored Gemstone
Association (ICA) has moved its international headquarters
from New York to Hong Kong. The organization is still
maintaining a presence in a new location in New York.

The ICA said the decision to move its head offce was
aimed at bringing the organization into closer touch with
the rapidly expanding Asian markets and its increased
membership in the region and to actively participate in
the further development of the colored gemstones and
jewelry industry in the region.

Wilson Yuen, president of the organization, said the
decision had been made following a great deal of debate.
Asia in general, and China in particular, is claiming a larger
role in international business, and it is imperative that we
are based in the heart of the region to enable us to provide
a comprehensive service to our membership and to the
industry. This is what it is expected of the ICA, he said.

The transition is being overseen by the ICAs former
executive director, Barbara Wheat.

The new offces are located in Hong Kongs gems and
jewelry manufacturing district. The offces are run by a
team of English- and Chinese-speaking staff, led by Daniel
Leung, executive assistant to the president. IDEX

IDEX INDIA RETAIL MAGAZINE| NO 1: INDUSTRY NEWS 56
At the ICAs new home in Hong Kong.
DDC AnD DMCC
announce cooperatIon agreeMent
T
he Diamond Dealers Club of New York (DDC)
and the Dubai Multi Commodities Centre (DMCC)
recently announced their agreement to cooperate on a wide
range of issues affecting their membership.

DDC president Reuven Kaufman and DMCC executive
chairman Ahmed Bin Sulayem have agreed to regular exchanges
of trade delegations between the two centers, beginning with a
New York-delegation visit to Dubai in the fall.

Kaufman says the fall trade mission is for the mutual buying
and selling of diamonds, which will beneft members of
the industry in both centers. He also said it will facilitate the
development of long-term business relationships among
the participants.

Bin Sulayem gave the DDC leadership a comprehensive
review of the diamond business opportunities in Dubai,
saying he welcomed the opportunity to host a trade mission
of New York diamantaires and that he looked forward to
working closely with the DDC and its membership on their
joint agenda.

Other members of the Dubai delegation included Malcolm
Wall Morris, CEO of the DMCC and Peter Meeus,
chairman of the board of the Dubai Diamond Exchange.
DDC offcials including vice president Basant Johari,
Secretary Benny Simkhai, Treasurer Jacob Zupnick and
managing director Martin Hochbaum joined the DDC
president.
IDEX
GJEPC
apprIses coMMerce MInIstry on need for cHanges
ndias diamond and jewelry industry is continuing
its efforts to introduce a turnover tax system and
simplifying custom procedures. Recently a delegation
from the industry met with S. R. Rao, the countrys new
commerce secretary in a bid to promote these and other
issues.

The Gem & Jewellery Export Promotion Council (GJEPC)
delegation, led by chairman Rajiv Jain, vice chairman Sanjay
Kothari and Diamond Panel Committee convener Bakul
Mehta, met Rao on July 5.

I
The discussions included ways and means to increase
exports and value addition from the sector in the medium-
and short term.

The GJEPC chairman presented the current issues that are
impeding growth. These included the need to introduce a
presumptive taxation system; the need to re-introduce the
two percent interest subvention on rupee export credit;
transfer pricing issues; the need to streamline various
custom procedures and the need for the generic promotion
of diamonds worldwide. IDEX
IDEX INDIA RETAIL MAGAZINE| NO 1: INDUSTRY NEWS 57
The Commerce Secretary (centre) with GJEPC Chairman Rajiv Jain (in suit) and the industry delegation.
Full Page template.indd 102 31-Jan-12 11:23:59 PM

Похожие интересы