idex india retail january 2012

8/3/2019 IDEX India Retail January 2012

1/60

Jan 12

MARKET

REPORT

Cautious MoodDominates DiamondMarket

indusTRy

nEws

Savvy Consumers WillChallenge JewelleryRetail Growth

sPECiAL

REPORT

Rebranding & Re-ignitingThe Passion For Emeralds

diAMOnd

RETAiL

BEnChMARK

A price list to assure yocustomers

The Need To exciTe

coNsumers AbouT

Jewellery


2/60


3/60


4/604 IDEX MAGAZINE INDIA RETAIL| NO

magazine india retail

05FROM THE EDITORS DESK

An Idea & Excitement - That's All We Really Have

06MUMBAI DIAMOND MARKET

REPORT

Exchange Rate, Cautious Mood Dominate Market

10SPECIAL REPORTRebranding & Reigniting The Passion For Emeralds

16ONLINE RESEARCH

21RETAIL ET CETERA

27DIAMOND RETAIL BENCHMARK

40COVER STORY

The Need To Excite Consumers About Jewellery

52INDUSTRY NEWS

Savvy Consumers Will Challenge Indian Jewellery

Retail in Future Growth

56TREND REPORT

Slice Jewellery The Hottest Trend

08_w~B hram ~mOma H$s [anmoQ>{d{Z_` Xa, gmdYmZr H$s ^mdZm ~mOma go ^m{dV~mOma

34{deof [anmoQ>bmoJm| _| {\$a go nm Ho$ {V bbH$ nXm H$aZo H$sH$mo{ee

46AmdaU H$WmAm yfUm| Ho$ ~mao _| Cn^mo$mAm| H$mo o[aV H$aZo H$sAmd`H$Vm

w w w . i d e x o n l i n e . c o m

J A N U A R Y 2 0 1 2VOL. 1 No. 14

Editorial Department

EDITOR-IN-CHIEF Vinod Kuriyan

EDITORs Edahn Golan, Danielle Max

IDEX ONLINE REsEARCH Ken Gassman

INTERNATIONAL CORREsPONDENT

Tamar Katzav

ADMINIsTRATION & MARKETING

Managing Director Yaron Barzilay

Marketing Manager Kuldip BedisALEs MANAGERs

Anish Kuriakose, Osnat Davidov, Avivit Morhaim, Yaron Barzilay

PRODUCTION & CIRCULATION Helena Dorsht

ACCOUNT MANAGER Rinat Oz

ART DEPARTMENT

GRAPHIC DEsIGNERs

Boris Mandelis (RD Media group)

Tera Kaur (RD Media group)

PRINTED by SAP Printers, Lower Parel, Mumbai 400 013

IDEX INDIAOFFICE # 20, KALA bHAVAN, 4TH FLOOR, 3 MATHEw RD., OPERA

HOUsE, MUMbAI 400 004, INDIATEL: +91-22-6633-2187, FAX: +91-22-6633-2186

EMAIL: [email protected]

IDEX USA7 wEsT 45TH sT. sUITE # 1602 NEw yORK, N.y. 10036, U.s.A.

TEL: +1-212-3823528, FAX: +1-212-3822671

IDEX BELGIUM74 LANGE HERENTALsEsTRAAT, 2018 ANTwERP, bELGIUM

TEL: +32-3-2341157, FAX: +32-3-2342463

IDEX HONG KONGTEL: +852-28400514, FAX: +852-28400652

IDEX ISRAEL11 HARAKOON sT., P.O.bOX 3107, RAMAT GAN 52521, IsRAEL

TEL: +972-3-575-7455, FAX: +972-3-7511203

IDEX Magazine - India Retail is published in India by Idex Online S.A.. Reprintsof individual articles are obtainable on application to the editor. All rights reserved.No part of this publication may be reproduced, stored in a retrieval system ortransmitted in any form or by any means without the prior written permission of

the Copyright owner.

PUbLIsHED by yARON bARzILAy FOR IDEX ONLINE s.A

ISSN 0334-6838

2003 IDEX ONLINE S.A.

CONTENTS

JANUARY


5/60

Editor

IDEX MAGAZINEINDIA RETAIL

|NO 14: EDITOR

A gem dealer once pointed out that he didnt sell

anything except ideas. Thats all a gemstone is really

an idea. But to get the consumer to buy into that idea, it

has to resonate with what he or she aspires to, thinks isimportant, and most of all, is excited about. The gem and

jewellery industry worldwide seems to have forgotten that

and is busily trying to sell its product like a commodity.

The trouble is, diamonds, gemstones and jewellery

arent commodities. And the only thing that keeps them

moving off the sales counter is consumer interest in

some vestiges of ideas that have been built up over the

years. The De Beers idea that a diamond symbolizes the

relationship between men and women and that personifes

the undying nature of love in that it is forever is one

such idea.

That idea has kept the diamond and diamond jewellery

industry alive these last few decades through sales of the

diamond engagement ring and its strong inuence on

bridal jewellery purchase choices. But there are fewer

people getting married in the West and many of the

younger generation dont buy into the idea of a diamond

symbolizing their personal relationships.

India, which began consuming diamonds only relatively

recently, has had some strong growth in consumption

over the past few years. But India doesnt have the strong

diamond engagement ring tradition to keep its diamondjewellery sales going at all times. If consumer interest

in diamonds fades even slightly, it could have huge

consequences on the industry.

There are those in the industry who see this and realize

that something needs to be done. Unfortunately, these

clear-thinking people are a small minority. The Indian

jewellery retail industry hasnt caught on to the urgency

of the situation yet. Even some long-time jewellery retail

veterans are still blaming economic conditions for a

sudden disinterest on the Indian consumers part in the

product they are selling. They havent even consideredthe fact that it might not be the market at all, it might be

simply about the product itself and the consumers

lack of enthusiasm for it.

Something needs to be done to get the consumer excited

about gems and jewellery again. It is worth remembering

that if the consumer stops buying into the idea of diamonds,

gemstones and jewellery, we would have no industry left.idEX

An idEA & EXcitEmEnt thAts All

WE rEAlly hAvE

byVINoD KurIyAN


6/606 IDEX MAGAZINE INDIA RETAIL | NO 14: MARKET REP

MUMBAIDIAMOND MARKET

REPORT

by VINAY PAREKH

ExchANgE RATE, cAUTIOUs MOOD

DOMINATE MARKET

aution and uncertainty rule the Mumbai diamond

market. With the dollar soaring to record levels

against the rupee within the space of a week in the rst

half of December, diamond dealers were caught in a

difcult situation. While a weak rupee makes for muchmore competitive export prices, overseas demand hasnt

been all that strong of late. The domestic market, which

had shown strong demand and helped the Indian industry

weather the worst of the recent global economic crisis,

has now seen demand fade as diamonds become suddenly

more expensive due to the strong dollar.

The recent agreement by the Kimberley Process clearing the

shipment of rough diamonds from Zimbabwes Marange

elds has also impacted the market. Diamond dealers are

also cautious about holding large inventories as they are

uncertain about what effect the inux of Zimbabwe rough

will have on global prices and demand. They are likelyto stay cautious over the rst quarter of 2012, until the

demand and pricing situation claries.

By mid-December, polished buying in the Mumbai market

had become very specic. Buyers were not willing to buy

anything extra at all and would only commit to the specic

qualities and quantities they needed.

IDEx

c


7/60IDEX MAGAZINE INDIA RETAIL | NO 14: MARKET REPORT

-0.01 (-2 ) Good demand for Top colors VS-SI.

Fair demand for white SI & piqu goods.

Overall demand & prices will remain soft.

Prices for top shades will remain stable.

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

goods.

Good demand for Top colors VVS-SI &

white natts.

Demand & prices will remain firm. Some

shortages will be experienced due to low

productions.

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

piqu goods.

Overall demand & prices will remain soft.

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

Fair demand for VVS-SI goods.

Demand & prices will remain soft.

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

Some demand for piqu goods.

Demand is likely to improve. Prices will

remain firm.

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

Fair demand for I1 lower goods.

Demand & Prices will be stable.

0.75(3/4) Good demand for +0.90 carat SI+/F-J col.Fair demand for I1-I2/J+ col. Demand & prices for VS-SI /+0.90 cts. willremain strong.

1.00(4/4) Very good demand for VS & SI/F-M col.

Good demand for I1 & lower piqu goods.

Overall demand will be stable, prices will

remain under pressure. Demand for lower

colors will be stronger.

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

Fair demand for VVS-SI goods.

Demand & prices will remain soft.

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

be soft.

0.23-0.29(1/4) Fair demand for SI1+ & piqu goods. Overall demand will remain low, prices will

be soft.

0.40(3/8) Fair demand for VS-SI goods. Overall demand & Prices will be stable.

+3.00 Fair demand for SI-I2/G-K colors. Overall demand & prices will remain soft.

MUMBAI DIAMOND TRADING IN DECEMBER

Size in Carat(Sieve)

Comments Forward Call


8/608 IDEX MAGAZINE INDIA RETAIL | NO 14: MARKET REP

gmdYmZr VWm A{Z{VVm _w~B Ho$ hram ~mOma H$mo ^m{dV H$aahr h& {Xg~a Ho$ W_mYHo$ EH$ hVo _| n`m Ho$ _wH$m~boS>mba Ho$ [aH$mS> Va go _O~yV hmoZo go hrao Ho$ `mnmar ~warn[apW{V _| \$g JE h& Ohm H$_Omoa ^maVr` n`m go {Z`mV

H$s_V H$m\$s {V`moJr hmo JB h, dht {dXoem| Ho$ hrao ~mOma ^rCVZo _O~yV Zht aho {OVZo hmb VH$ Wo& Kaoby ~mOma Zo Jhar_m J {XImB Am a ^maVr` Cmo J H$mo hmb Ho$ d {H$ Am{WH$gH$Q> Ho$ ~mdOyX _XX H$s& na A~ _mJ KQ>Vr ZOa Am ahr h,`m|{H$ _O~yV S>mba Ho$ H$maU AMmZH$ hr hram H$m\$s _hJmhmo J`m h&

qH$~b} mogog mam gn hmb Ho$ g_PmVo go {O~mdo Ho$ _a|O

\$sS> go AmZo dmbo IwaXao _mbm| Ho$ Ion H$s pb`[aJ Zo ^r~mOma na AnZm ^md {XIm`m h& hrao Ho$ `mnmar ~S>o Bd|Q>arH$mo hmoS> H$aZo Ho$ ~mao _| gmdYmZ h, `m|{H$ do {O~mdo a\$Ho$ AmJV go d{H$ _y`m| d _mJ na nS>Zo dmbo ^md Ho$ ~mao _|

A{Z{V h& Eogm VrV hmoVm h {H$ do 2012 Ho$ W_ _m{gH$VH$, O~VH$ {H$ _mJ Ama _y` H$s pW{V n> Z hmo OmE,AnZo H$X_ \y$H$-\y$H$ H$a ~T>mEJo&

_w~B ~mOma _| _` {Xg~a VH$ nm{bS> _mb H$s IarXXmarA`V {d{e> ahr& IarXXma Hw$N> ^r A{V[a$ Zht IarXZmMmh aho Wo Ama do Ho$db AnZr Amd`H$Vm H$mo XoIVo hE {d{e>JwUdmm VWm _mm _| hr _mb H$s IarXXmar H$a aho Wo& IDEX

{dZ` nmaoI mam

{d{Z_` Xa, gmdYmZr H$s ^mdZm ~mOmago ^m{dV ~mOma

_w~B hram~mOma H$s [anmoQ>


9/60IDEX MAGAZINE INDIA RETAIL | NO 14: MARKET REPORT

{Xg~a _mh _| _w~B _| hrao H$m H$mamo~ma

-0.01(-2 ) Q>mn H$baVS-SIH$s AN>r _mJ&g\o$XSI VWm {nH$ JwSg H$s AN>r _mJ&

Hw$b {_bmH$a _mJ VWm _y` Za_ hr ah|Jo&Q>mn eoSg H$s H$s_V| pWa ah|Jr&

-0.02(+2-6.5) g\o$X SI VWm {nH$ JwSg H$s H$m\$s AN>r _m&

Q>mn H$baVVS-SIVWm g\o$X ZQg H$s AN>r _mJ&

_mJ VWm H$s_V| _O~yV ah|Jr& H$_ CnmXZ Ho$ H$maUWmoS>r H$_r XoIr OmEJr&

0.03-0.07 (+6.5-11) Q>mn H$bgVS-SIVWm g\o$X {nH$ _mbm| H$s AN>r_mJ&

Hw$b {_bmH$a _mJ VWm _y` Za_ hr ah|Jo&

0.08-0.14(+11-14) {nH$ JwSg H$s AN>r _mJ&VVS-SIJwSg H$s AN>r _mJ&

_mJ VWm _y` Za_ ah|Jo&

0.30(1/3) VS-SI_mbm| H$s AN>r _mJ&{nH$ _mbm| H$s WmoS>r-~hV _mJ&

hrao _| gwYma H$s g mdZm& H$s_V| _O~yV ah|Jr&

0.50(1/2) VS-SI/J+ col.H$s AN>r _mJ&I1 bmoAa JwSg H$s AN>r _mJ&

_mJ VWm H$s_V| Wm`r ah|Jr&

0.75(3/4) +0.90H$aoQ>

SI+/F-J col.

H$s AN>r _m&I1-I2/J+ col. H$s AN>r _mJ&VS-SI /+0.90 cts.

Ho$ {bE _mJ VWm _y` _O~yaah|Jr&

1.00(4/4) VWmSI/F-M col.H$s AN>r _mJ&

I1 VWm bmoAa {nH$ _mbm| H$s AN>r _mJ&

Hw$b {_bmH$a _mJ Wm`r ahoJr, H$s_V X~md _| ahoJr&bmoAa H$bgH$s _mJ _O~ya ahoJr&

0.15-0.17(+14-15.5) {nH$ JwSg H$s AN>r _mJ&

VVS-SIJwSg H$s AN>r _mJ&

_mJ VWm _y` Za_ hr ah|Jo&

0.18-0.22(1/5) SI1+VWm {nJ _mbm| H$s AN>r _mJ& Hw$b {_bmH$a _mJ H$_ ahoJr, H$s_V| Z_ah|Jr&

0.23-0.29(1/4) SI1+VWm {nH$ _mbm| H$s AN>r _mJ& Hw$b {_bmH$a _mJ H$_ ahoJr, H$s_V| Z_ah|Jr&

0.40(3/8) VS-SI_mbm| H$s AN>r _mJ& Hw$b {_bmH$a _mJ VWm H$s_V| Wm`r ah|Jr&

+3.00 SI-I2/G-KH$bgH$s AN>r _mJ& Hw$b {_bmH$a _mJ VWm H$s_V| Za_ ah|Jr&

AmH$ma H$aQ> _|(grd)

{Q>nUr \$madS> H$m b


10/60

RebRanding & Re-igniting

the Passion FoR emeRaldsGemfields infuses emotion, ethics and the environment

into the Gems perceived value

I want to rebrand and re-ignite consumer demand for

emeralds, says Ian Harebottle, CEO of the emerald

and gemstone mining group Gemelds. In emeralds,

we have a product that was known to the Incas and the

Aztecs, to Genghis Khan and Cleopatra. And yet the entire

coloured gemstone market globally is valued at just $1.5billion (Rs.7,736 crore). Compare this with the net prot of

a single company, Louis Vuitton, which was pegged at $2.5

billion (Rs.12,894 crore)!

Again, Harebottle asks, Those companies deal in leather

and plastic products. Why is it that we, dealing in a precious

product like emeralds, cannot command more value in the

market? He then answers his own question: The issue

is branding. Louis Vuitton understands branding and has

established value in its name alone. Emeralds dont have

that. And theyre in the market, trying to grab the consumers

attention for relatively very low value when actually, we

should be up there with them.

In its own way, Gemelds says it has helped push up the

price of emeralds through organized mining and regular

supply to cutting and polishing rms in Jaipur as well as

other cutting centres. A regular supply and consistent

quality, along with a guarantee of ethical practices has

helped the cutting and polishing industry not only plan its

business better, it has given it the necessary ammunition to

push prices up.

memo

10 IDEX MAGAZINE india retail| no 14: special rep

sPeCial RePoRt

by VINoD KurIyAN


11/60

After a successful outing in London, the initiative was

brought to India with Bollywood actress Madhuri Dixit asits brand ambassador. The Indian auction raised Rs.3.68

crore ($750,000), of which Rs.73.54 lakh ($150,000) will go

to the World Land Trust and the Wildlife Trust of Indias

conservation projects in India. The two organizations have

been working on creating a network of wildlife corridors

that will allow elephants to follow their regular migratory

routes while minimizing human-elephant contact and

conict.

Along with organization and advanced planning, Gemelds

has also worked at building up the perceived value ofemeralds through initiatives that resonate with consumers

worldwide. One such is the Emeralds for Elephants

program. The initiative has high-prole patrons including the

likes of BBC wildlife presenter David Attenborough whom

consumers all over the world recognize as a positive force

for the environment. It donated a percentage of the sale

proceeds from an elephant-themed emerald jewelry collection

towards creating safe migration corridors for elephants.

in emeralds, we have a product that was known to the

incas and the aztecs, to GenGhis khan and cleopatra. andyet the entire coloured Gemstone market Globally is

valued at just $1.5 billion (rs.7,736 crore). compare this

with the net profit of a sinGle company, louis vuitton,

which was peGGed at $2.5 billion (rs.12,894 crore)!

IDEX MAGAZINE india retail| no 14: special report


12/60

Apart from issues such as wildlife and the environment,

Gemelds, which runs the worlds only known organized

emerald mine, Kagem in Zambia, takes pains to let it be

known that its emeralds are mined ethically. The mine,

which is 25 percent owned by the Zambian government,

works at improving the quality of the miners lives frombuilding local community schools and medical clinics to

educating neighbouring communities on agriculture or

HIV/AIDS prevention.

Gemelds also prides itself on its environmental conduct.

As Dev Shetty, the companys CFO explained, Nobody

in the world mines and sells emeralds the way we do. The

mine area had already been worked by artisanal diggers by

the time we acquired it and was a mass of open pits. We

ooded these pits and made them sh reservoirs. For our

current operations, we back-ll our waste we dont haul

it out of the mine but dump it in a part of the mine that hasalready been worked, thus lling up the deepest parts. We

also plant trees after weve dumped our waste.

SEEKING HIGH STANDArDS THrouGHouT THEProCESS CHAIN

Apart from its own ethical conduct, Gemelds wants

the entire process chain to live up to the same standards.

Playing something of the role De Beers once played in the

diamond industry, Gemelds wants to push the colored

gemstone processing industry towards greater transparency

and full disclosure of any treatments a stone might undergo

before reaching the end consumer. Gemelds states it willstop sales of rough to those gem cutters who dont practice

full disclosure.

rgh emealds

Ian Haebttle

The issue, Shetty acknowledges, is to get retailers on board

with regard to disclosure. Once it leaves the cutting and

polishing rm, theres not much we can do to ensure that

the emerald continues its journey with full disclosure. We

encourage our clients to sell their polished only to those

retailers they know will abide by our requirement for full

disclosure. But at the end of the day, it is the retailer who

decides whether or not full disclosure should accompany

the emerald across the sales counter.

But back upstream, Gemelds has led by example.

Explaining how effective the mines environmental

measures have been, Shetty notes that when Gemelds

began operations, its environmental liability fund as assessed

by the government was $5.2 million (Rs.26.9 crore). After

assessing all that has been done to date, the environmental

liability has come down to $500,000 (Rs.2.6 crore).



13/60

Gemelds biggest impact has been on the emerald

processing market. The entire production from the mine

is sorted into 200 grades and sold at auctions that are held

regularly. High-value material is sold at auction in London,

Johannesburg and Singapore, while the low end is auctioned

in Jaipur. The precise sorting procedure enables Gemeldsto identify where most of its value comes from with great

exactitude. We get 80 percent of our value from just 8

percent of the rough, Shetty explained. The remaining 92

percent, while accounting for the vast majority emeralds

that are cut an polished, is basically what keeps the mass

market supplied.

But though values are relatively low for these mass-market

goods, their systematic sourcing and sales has helped steadily

grow their value. An auction last November in Jaipur of 9.8

million carats of low-end emerald rough netted $11 million

(Rs.56.9 crore), delivering $1.12 (Rs.57.97) per carat. This is45.5 percent higher than the $0.77 per carat (Rs.39.86) that

was achieved in March this year when 12.98 million carats

sold for $9.9 million (Rs.51.24 crore). When compared to the

March 2010 auction, when 22.8 million carats sold for just

$7.2 million (Rs.37.3 crore) or $0.31 (Rs.16.05) per carat, the

per carat price has risen a whopping 261.3 percent.

The November auction saw 27 companies bidding for a

total of 10.8 million carats. Of the total, a million carats

remained unsold as bids did not reach the reserve price.

The auction also featured traded material rough

from other mining sources that does not carry the ethicaland best practice guarantees that Gemelds offers for the

rough from its own Kagem mine in Zambia. Sales gures

for the traded material are not available.

Wkes at the Kagem minePspective bes check a gh emealds tanspaenc



14/60

Sepaatin at Kagem mine

where the Global diamond

mar ke t i s to d ay value d i n

tens of billions of dollars,

the Global emerald market is

estimated (there are no official

fiGures) at around $330 million

(rs.1,708.2 crore). of this, says

shetty , Gemfields accounts

for some 20 percent (with a

lot of leeway for very inexact

fiGures) . of this , the indian

cuttinG and polishinG industry

abs o r bs s o me $250 mi ll i o n

(rs.1,294 crore). last fiscal year

(ended june 30) Gemfields had

sales of $40.2 million (rs.208.1

crore). with just two auctions

in the current fiscal year

under its belt, it has Generated

$42.6 million (rs.220.5 crore) in

sales.

Gemelds says its next auction will be for high-endmaterial and will take place in March 2012. The last high

end auction was in July 2011 at Singapore and fetched $31.6

million (Rs.163.57 crore) for the 740,000 carats sold. This

translates to $42.71 (Rs.2,210.71) per carat a staggering

870.7 percent over the $4.4 (Rs.227.75) per carat at the July

2009 auction. It is also a strong 63 percent over the $26.2

(Rs.1,356.16) per carat at the last auction in Johannesburg

in December 2010.

Where the global diamond market is today valued in tens of

billions of dollars, the global emerald market is estimated

(there are no ofcial gures) at around $330 million(Rs.1,708.2 crore). Of this, says Shetty, Gemelds accounts

for some 20 percent (with a lot of leeway for very inexact

gures). Of this, the Indian cutting and polishing industry

absorbs some $250 million (Rs.1,294 crore). Last scal

year (ended June 30) Gemelds had sales of $40.2 million

(Rs.208.1 crore). With just two auctions in the current scal

year under its belt, it has generated $42.6 million (Rs.220.5

crore) in sales.Pspective bes at Jaip



15/60

rgh emealds at the Kagem mine

EMErALDS STILL NoWHErE NEAr FuLL PoTENTIALDespite this impressive price performance, Harebottle

thinks emeralds havent even begun to achieve their true

value. Emeralds, he says, are 20 times rarer than diamonds.

They also have played a greater role in human history

according to him. He notes that records show that emeralds were bought and sold in Babylonian markets as early as

4,000 BC. And yet, the green gemstone hasnt had the kind

of value perception in the consumers eyes that diamonds

enjoy today. This, according to him, is what Gemelds

wants to change.

India is an important country on the emerald sales map. In

terms of consumption, India has steadily grown, particularly

after the economic downturn of 2008. India now accounts

for an estimated 50 percent of global consumption, while

the United States accounts for roughly the other half

having once accounted for some 80 percent of globalconsumption.

With a growth market in hand, Gemelds is also looking at

expanding its production. It hopes to close the acquisition

of a Brazilian mine in 2012 with an investment of between

$10- and $15 million (Rs.51.8-Rs.77.6 crore). The expansion

plans are also lateral Gemelds says it is close to

acquiring a 75 percent stake in a ruby mine in Mozambique.

It is looking at other mines and other gemstones as well,

including a tourmaline deposit in Tanzania.

In India, where the coloured gemstone industry has for

long been dominated by the astrology-driven market

and thus been limited to low value stones, the Gemelds

approach of striking an emotional chord with consumers

and raising the value perception of its emeralds as any

other gemstones it may mine in the future holds out

hope for tremendous value growth in the market.

ideX



16/60

fter months of strong upward pressure, jewelry

suppliers prices in the U.S. market showed modestdeflation in October, according to new data from the

government. In contrast, jewelry retail prices rebounded

sharply from Octobers pause. This disparity is good

news for retail jewelers since it shows that they may be

recovering some of the high costs related to surging jewelry

commodity prices diamonds and precious metals over

the past several quarters.

Retail prices of jewelry rose by nearly 3 percent in October

compared to retail prices in September.

Wholesale jewelry prices, in contrast, declined very modesty

by about 0.2 percent in October, when compared with

wholesales jewelry prices in September.

Heres what this means for the American jewelry industry:

the margin squeeze that specialty retail jewelers have felt

A

JEWELLERY SuppLiERS pRicES

SLip in OctObER

by Ken Gassman

Jwllry Producr Pric IdxGraph 1

Sorce: BLS

220

210

200

190

180

170

160

150J F m a m J J a s O n D J F m a m J J a s O

2010 2011

16 IDeX maGaZIne INDIA RETAIL| NO 14: ONLINE RESEA

idex Ole Researh


17/60

since 2009 has paused, if only briefly. With retail jewelry

prices edging higher and supplier prices stable or down very

slightly, jewelers profit squeeze could be relaxed. However,

it is not possible to tell if this is a one-month anomaly, or ifthis is the beginning of a new short-term trend.

While jewelry commodity prices seem more or less stable

in the current environment, they correlate somewhat to the

global economic climate. According to the latest forecasts

from the OECD, the economies of most of the diamond-

consuming countries are expected to weaken in 2012. If

demand fades, prices for jewelry commodities should also

decline.

INfLATION REmAINS RAmpANT AT SuppLIER LEvEL

Inflation continues to be a major challenge in the U.S. retailjewelry market. However, some of the inflation pressures

eased during October when jewelry supplier prices declined

very modestly, according to new government data.

Suppliers prices for jewelry in October soared by 17.5

percent over the same month a year ago. This was slightly

less than the year-over-year increase of nearly 19 percent

in September, the largest increase since we began keeping

jewelry inflation statistics in 1980, more than 30 years ago.

Octobers large gain was driven almost entirely by risingprices for gold and other precious metal jewelry, which

were up by over 22 percent in the month, year-over-year.

Graph 1 illustrates that suppliers jewelry prices have been

climbing steadily since 2010, with a pick-up in the pace of

inflation in early 2011, followed by a pause in October.

Retail prices of jewelry were up 11 percent in October

versus the same month a year ago. This was the largest

jump since 1988, when the governments Bureau of Labor

Statistics (BLS) began using the current data base. Jewelry

prices were up only modestly in October 2010, so thisyears comparison was against an easy comparison last year.

Graph 2 illustrates that retailers jewelry prices have been

rising steadily since 2010. In early 2011, retail jewelers

raised prices because they felt that 1) the economy was

poised for a solid recovery; and, 2) consumers would likely

Jwllry Cour Pric Idx

Sorce: BLS

175

170

165

160

155

150

145

140

135J F m a m J J a s O n D J F m a m J J a s O

2010 2011

Graph 2

IDeX maGaZIne INDIA RETAIL| NO 14: ONLINE RESEARCH


18/60

Jwllry Ifltio FctorOctober 2011

11.0%12.2%

3.1%

Yr/YrChg %

Octobr 2011/

Octobr 2010

19.7%24.1%36.7%(9.1%)

17.5%22.4%

1.3%

8.6%9.8%1.5%

Chg %moth

2011/2010

YTD

10

16.8%29.3%92.4%10.4%

13.6%16.3%

1.0%

moth/mothChg %

Octobr 2011/

sptbr 2011

2.6%3.0%

(0.3%)

(1.6%)(6.0%)

(16.2%)(12.2%)

(0.2%)2.1%0.0%

U.s. Jwllry Producr Pric & CopotJewelr prodcer price IndexGold & platin used in JewelrWatches / Clocs

U.s. Jwllry Cour Pric & CopotJewelr & Watch Conser price IndexJewelr Conser price IndexWatch Conser price Index

Jewellery Commoditiepolished DiaondsGoldSilerplatin

n/a$1,665$31.97$1,535

augut averge Us $ Price

Sorce: varios marets

tolerate higher jewelry prices. That kink in the inflation

curve is clear in January 2011. The good news is this: based

on recent sales trends, higher jewelry prices during most of

2011 have had no negative impact on consumer demandfor jewelry.

The Table provides detailed summary of inflation rates in

the U.S. jewelry industry for the following: 1) year-to-year

price comparison for the month of September; 2) month-to-

month price comparison for October 2011 versus September

2011; and 3) 10 months year-to-date 2011 price comparisons

versus the same 10-month year-to-date period in 2010.

JEWELLERy INfLATION OuTLOOk: uNCERTAINTyNEAR TERm, HIGHER LONG TERm

It would be easy to forecast inflation for the jewelry industryif all of the commodities involved in the forecast were used

exclusively by the jewelry industry. While that may be the

case for polished diamonds, precious metals are used by a

number of other industries; further, gold is an international

currency that plays in an arena of its own.

- INDuSTRy OuTLOOk Demand from emergingeconomies such as India and China will help fuel sales ofjewelry in those nations. Thus, the longer term outlook for

jewelry demand is very positive.

- ECONOmIC OuTLOOk The latest OECD data pointsto decelerating economic growth, which will likely hinder

consumer demand near term.

- fINANCIAL OuTLOOk With increased volatility inthe worlds stock markets and uncertain valuations related

to stocks, bonds, and other hard assets, investors are likely

to move to the safe haven that gold offers.

The bottom line: inflation may pause, but it is headedhigher over the longer term. Jewelry suppliers and retailers

should use periods of weakness in commodity prices to

add to their inventory. iDEX

The ll analsis o the u.S. jeweller indstr is aailable to IDEX Online

Research sbscribers and IDEX Online ebers. Contact research@idexonline.

co or ore inoration on how to sbscribe or to becoe a eber.

18 IDeX maGaZIne INDIA RETAIL| NO 14: ONLINE RESEA


19/60

Fully automated online TRADING service for polished diamonds *

GUARANTEED AVAILABILITYand door-to-door delivery to buyers * Guaranteedimmediate CASHpayment to sellers *AUTHENTICATION against grading

lab certificate* IncrediblyLOW FIXED transaction fee

USA +1-212-382-3528 | BELGIUM +32-3-234-1157 | ISRAEL +972-3-575-7455 | INDIA +91-22-663-32187 | HONG KONG +852-284-0

[email protected]

To learn more please go to www.idexonline.com


20/60

It takes the strength of two to make any venture successful. At Uni-Design, we partner you in

creating some of the finest jewellery by anticipating your needs, setting new trends, and above

all, constantly refining our skills. Leaving you with just one task. Delighting your customers.

Certified

INDIA Export (SEEPZ) T: 91-22-6668 1000, [email protected] Domestic T: 91-22-3081 5888, [email protected] USA New York T: 1-212-282 1111,

[email protected] EUROPE Belgium T: 32-472-640 080, [email protected]


21/60

Retail etCeteRa

IDEX MAGAZINE INDIA RETAIL | NO 14: RETAIL ET CETERA

JanuaRy JeWelleRyFROm vERmEIL TO RAyON, DIAmONDs TO sApphIREs,RINgs TO pENDANTs AND EvEN ANgELs TO ANImALs,ThE LATEsT JEWELLERy DEsIgNs ARE suRE TO gET ThE

yEAR OFF TO A sTuNNINg sTART.

2.

1.

neW OffeRings fROm

uni-Design

JEWELRy by uNI-DEsIgN

Uni-Design has created three exclusive designs. The rst, a

pendant in 18-karat gold, is set with 53 diamonds weighing

1.4 carats, accentuated with 0.82 carats of emeralds. The

second, also a pendant, is as delicate as a feather, with acontemporary channel and prong setting in platinum with

14 diamonds weighing 0.8 carats. The third is a pair of

earrings in 18-karat gold, with emeralds surrounded by 66

diamonds weighing 1.53 carats.

CorrigendumThe November issue of our magazine inadvertentlycarried the wrong carat weights for the diamonds set in Uni-Designs

new designs. This report amends the carat weights.

3.


22/60

Rochet specializes in mens jewelry and watches made of

alternative materials. With theMingcollection, Rochet offers

an exclusive range with elegant nishes that associates steel

with ceramics. The models combine facetted incrustations

and deepest black or glossy whiteness of ceramic with the

cool, matt beauty of steel.

mens Club

JEWELRy by ROChET

A symbol of casual elegance since 1933, Lacoste uses its

sporting roots to offer a unique and original world that

has been reinterpreted in jewelry form. The Petit Piqu

collection is characterized by a clear orientation towards

gilt and silvered metal jewelry. The cotton petit piqu called

L.12.12 from the Lacoste polo shirt that gives its name tothis collection, can be found on the pretty cuffs decorated

with the famous crocodile.

JEWELRy by LACOsTE

CROCODile teaRs

22 IDEX MAGAZINE INDIA RETAIL | NO 14: RETAIL ET CET


23/60

Pacoma has designed a new series of jewelry combining

cultured pearls with gold and diamonds. The Noeud, or

bow range, is made of Tahitian cultured pearls, providing

a precious and modern seal for any engagement. It is

also a symbol of positive energies, ideal for adorning and

protecting women, just like a talisman that never leaves

their side.

CULTURE CL UB

JEWELRY BY PACOMA

JEWELRY BY LILI DIAMONDS

STRAIGHT AS AN ARROW

Lili Diamonds is a leader in the field of diamond

manufacturing and widely known for its innovative special

cuts, including the trademarked Crisscut, Orchidea Cut

and Meteor Cut.



24/60

The Violetaline of 18 karat white gold rings and pendants

from Bellon plays on the violet colour of amethyst.Adding to the color factor, the pendants come with cord

necklaces in mauve rayon, making them ideal for everyday

wear. For those who prefer a different hue, the items are

also available in yellow gold with various colored stones.

ViOlent ly ViOlet

JEWELRy by bELLON

JEWELRy by yvEL

natuRal beauty

Yvel has opted for a natural look with this stunning

bracelet. The 18 karat yellow gold bracelet features 318

carats of natural multi-color sapphires set with 15.98 carats

of diamonds for a sophisticated color combination.

24 IDEX MAGAZINE INDIA RETAIL | NO 14: RETAIL ET CET


25/60

The Hula Hoop collection byAndr Bnitah is made

of exible resin with yellow gold or silver balls at each

end. The line is available in around 60 different colors;

20 in transparent resin and 40 in the opaque version. The

bracelets can be worn singly, as a pair or as a seven-band

bracelet to brighten dull winter days.

JEWELRy by ANDR bNITAh

hOOplah!

Born of a long line of gem cutters, Isabelle Langlois

spent her childhood among gemstones and naturally fell

in love with jewelry. Her Angecollection is a little piece

of heaven on earth. These softly colored angel pendants,

with their wings outstretched, marry grey or pink gold with

diamonds, moonstones, pearls, pink quartz and mother of

pearl.

JEWELRy by IsAbELLE LANgLOIs

heaVen sent

JEWELRy by pAuL & JOE

ChilDs play

Paul & Joe are the names of the children of designer

Sophie Albou. Her new collection provides a young and

refreshing note that proclaims the brands originality. The

latest additions include owls, Maneki Neko (the famous

Japanese good-luck cat) and butteries.



26/6026 IDEX MAGAZINE INDIA RETAIL | NO 14: RETAIL ET CET

The Bloom ColleCTion

DEsIgN BY NATAshA ChANDIRAmANI

Budding designer Natasha Chandiramani, a student at

the IGI jewellery design graduate course, was inspired by

the owers she encounters in her daily life and captured

their essence in her jewellery designs. The result is the

Bloom Collection.

DeSiGneR PAleTTeTO ENCOuRAgE YOuNg DEsIgN TALENT, IDEX mAgAzINE INDIA RETAIL wILL

shOwCAsE DEsIgNs fROm ThE mANY DEsIgN sChOOLs AND INsTITuTIONs

ThAT ARE TRAININg INDIAs fuTuRE jEwELLERY DEsIgNERs.

Retro Red. This classical pendant is a perfect blend of a

traditional Indian motif and a blooming ower, giving it

colour and life.

Fire and Ice. These dangling earrings are inspired by oral

motifs and the patterns of snowakes. The result is an

unusual combination of the vibrant heat of a ower and

the cold beauty of a snowake.

Dancing to Your Tune. This bangle has a rotating ower

embedded with diamonds and emeralds. The free

movement of the ower allows the diamonds and emeralds

to ash with every move by the wearer.

Heaven on Earth. This necklace captures with diamonds and

enamel, the moment when a buttery sips nectar from a

ower.


27/60

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 havebeen 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 [email protected]

About the IDeX onlIne DIAmonD RetAIl benchmARk

nhcr ~ma, ^maVr` hram Am yfU IwXam {dHo$VmAm| Zo hram _y`m| H$mIwXam ~|M_mH$ V` {H$`m h {Oggo do AnZo JmhH$m| H$mo, hram Ho$ dgyc {H$E Om aho IwXam _y`m| H$m âmogm {Xcm gH|$Jo& ApIc ^maVràZ Ed Am yfU `mnma gK (OrOoE\$) mam g_WZ {XE OmZo go~|M_mH$ _y`m| H$mo Xoeâ _| drH$ma {H$`m J`m h {Oggo JmhH$ H$mhram IarXZo Ho$ {V {ddmg ~T>m h&

hram [aQ>oc ~|M_mH$ (S>rAma~r) dmV{dH$ Ama nyUV: nmaXeu UmcrHo$ O[aE VmOm ~mOma OmZH$mar H$o AmYma na V`ma {H$`m J`m h& nyaoXoe _| _mZH$ IwXam _y` AVa H$mo `mZ _| aIm J`m h Vm{H$ XoeHo$ {H$gr ^r ^mJ Ho$ ~mOma Ho$ _mZXS>m| H$mo em{_c {H$`m Om gHo $&

Hw$N> IwXam jom| go _| hram EH$ Eogm CmoJ h {Og_| A^r VH$ JmhH$m| Ho$ {cE H$moB {ddgZr` Iw Xam _y` ~|M_mH$ Zht Wm& Ohm VH$JmhH$m|, {OZ_| H$B nhcr ~ma hram IarXZo dmco h, H$m g~Y h hramIarXZm CZHo$ {cE H$B ~ma Xw{dYm H$s ~mV hmo gH$Vr h& OrdZ Ho$_w` Adgam| Ho$ g_` IarXo OmZo dmco Eogo cOar gm_mZ Ho$ {cE

{ddmg ~hV O$ar h {Ogo H$ht ^r co Om`m Om gH$Vm h& O~JmhH$ hram IarX| Vmo Cgo h {ddmg hmoZm Mm{hE {H$ CgZo ghr Xm_na hram IarXm h&

S>rAma~r, H$Q>, H$aoQ>, H$ca Ama bo[aQ>r H$s Mma {deofeVmAm| Ho$AmYma na hram H$m IwXam _y` ~|M_mH$ XoVm h& S>rAma~r H$m BVo_mc

Ho$dc nyd OmZH$mar Ho$ $n _| {H$`m OmZm Mm{hE& dmV{dH$ _y`,{dHo$VmAm| mam V` {H$E OmVo h&

Amngo go m Cma go hr h {gQ>_ ~ohma hmo nmEJm& Amngo AZwamoYh {H$ Amn {H$gr r g_` AnZo {dMma, gwPmd Ama Z {ZZ{c{IVZ~a/nVo na S>mc gH$Vo h:

AmBSo>g AmZcmBZna gnH$ H$a|&\$g na gnH$ H$a|&[email protected] na B_oc H$a|

AmBSo>g AmZcmBZ hram [aQ>oc ~|M_mH$-EH$ OmZH$mar

(022) 6633 2187

(022) 6633 2186

IDEX MAGAZINE INDIA RETAIL| NO 14: DRB


28/60


29/60

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

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

IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3

D 273883 221543 213491 168144 159880 147484 118559 93396 76444 63676 50962

E 188804 180540 176408 147484 139219 114427 106163 84920 67967 55200 46724

F 176408 172276 168144 143351 135087 101925 97687 76444 67967 55200 46724

G 159880 155748 151616 135087 130955 97687 93396 72205 67967 55200 46724

H 155748 151616 147484 130955 126823 93396 89158 67967 63676 50962 42486

I 151616 147484 135087 122691 118559 89158 80682 63676 59438 50962 42486

J 143351 130955 114427 93396 84920 72205 67967 59438 55200 46724 38195

K 106163 97687 84920 76444 67967 63676 59438 55200 50962 42486 33957

L 84920 80682 76444 72205 63676 59438 55200 50962 42486 33957 29719

M 80682 76444 72205 67967 59438 55200 50962 46724 38195 29719 21243

N 72205 67967 63676 59438 55200 50962 46724 42486 33957 29719 21243

Round

0.18-0.22


D 286968 243687 227741 195479 183401 155059 142663 105474 93078 72205 59438

E 227741 207558 199505 187427 171322 142663 130267 93078 88946 67967 50962

F 223715 203531 195479 179375 167296 138531 122002 88946 84814 63676 50962

G 207558 199505 191453 175349 155059 134399 113738 84814 80682 63676 50962

H 187427 179375 175349 171322 150927 130267 101342 80682 76444 59438 46724

I 171322 167296 163270 150927 122002 113738 97210 76444 72205 59438 46724

J 167296 155059 126134 105474 97210 88946 80682 72205 63676 55200 42486

K 126134 113738 101342 93078 84814 76444 72205 63676 59438 50962 38195

L 101342 93078 88946 84814 80682 72205 63676 59438 50962 42486 33957

M 93078 88946 84814 80682 76444 63676 59438 55200 42486 33957 25481

N 84814 80682 76444 72205 63676 55200 50962 46724 42486 33957 25481

Round

0.45-0.4

9


D 490976 388945 359491 318859 244217 206339 202525 194791 163800 132333 92018

E 392601 341109 285326 248031 229172 179428 175560 171640 144093 92018 79728

F 348472 315151 266731 229172 225357 171640 155907 148066 128306 84019 71464

G 300212 277909 251792 217835 214074 167720 144093 136253 116228 79887 67332

H 281617 255553 229172 194791 183242 163800 140173 128306 116228 79887 63359

I 277909 217835 202525 179428 171640 155907 136253 124280 108123 75755 63359

J 210206 202525 190976 171640 148066 140173 132333 120254 96044 67332 54935

K 183242 175560 163800 155907 144093 136253 128306 116228 79887 63200 50803

L 159827 155907 151986 148066 140173 132333 104097 100071 75596 54935 46671

M 155907 144093 136253 132333 120254 116228 100071 83860 67332 54935 42486

N 140173 136253 128306 124280 116228 100071 96044 79728 67332 54935 42486


D 669344 515927 448490 398216 358379 296238 244481 237012 188486 180911 123115

E 501783 437736 412572 369239 321984 270492 222126 210948 173388 154211 103408

F 434133 401818 380151 351068 307257 248190 210948 203531 169574 127035 95356

G 419777 372894 351068 321984 274148 225887 192248 188486 161893 115221 87303

H 380151 351068 321984 281511 248190 210948 188486 184672 154211 111301 83277

I 325640 303549 274148 248190 229595 184672 173388 169574 146477 99382 79251

J 259368 244481 237012 214709 192248 173388 165760 161893 134875 95356 75225

K 222126 207240 199770 169574 161893 158026 150344 146477 130955 91330 67067

L 207240 184672 169574 161893 154211 146477 138796 134875 123115 71199 54671

M 180911 169574 158026 154211 150344 138796 127035 123115 119142 71199 54671

N 177150 165760 154211 146477 142663 130955 123115 103408 87303 67067 54671


D 324792 271552 232986 209412 189705 157708 145629 133551 117341 92548 67756

E 275419 244640 217252 193625 177838 149656 133551 129525 117341 84284 63623

F 256189 225145 197598 181865 169786 141603 129525 125499 117341 71888 55200

G 221172 201518 193625 177838 157708 137577 125499 121473 109076 71888 55200

H 193625 185785 177838 173812 153682 133551 117341 113208 96680 71888 55200

I 173812 169786 165760 153682 133551 129525 113208 104944 92548 67756 50962

J 169786 157708 141603 129525 121473 113208 109076 96680 80152 59438 46724

K 141603 137577 125499 117341 113208 100812 92548 88416 76020 55200 42486

L 125499 117341 113208 109076 104944 96680 80152 71888 63623 50962 38195

M 109076 104944 100812 96680 92548 88416 71888 59438 50962 38195 29719

N 104944 100812 96680 92548 88416 63623 55200 50962 42486 33957 25481

Round

0.30-0.39


D 361875 309747 279869 264771 222920 180275 164542 160621 136730 104520 75755

E 305986 279869 257249 242151 199823 168462 148808 144782 124651 84284 71623

F 287392 257249 234469 211372 188169 164542 144782 140756 124651 84019 67491

G 264771 238336 226788 203690 184195 160621 136730 132703 112573 79887 63359

H 234469 226788 207558 192089 180275 156701 132703 120625 108547 79887 63359

I 222920 192089 184195 168462 160621 152728 128677 116599 100494 75755 63359

J 184195 176355 164542 152728 140756 128677 120625 108547 92283 63359 50962

K 172435 156701 152728 140756 132703 120625 104520 96415 79887 59226 46724

L 156701 148808 144782 136730 124651 112573 96415 79887 67491 50962 42486

M 148808 132703 124651 120625 112573 100494 79887 63359 55094 42486 33957

N 124651 120625 116599 112573 108547 92283 75755 59226 55094 42486 33957


D 859102 612184 556877 515345 473653 407063 346565 317799 256083 182182 123115

E 677661 536111 498022 470157 435193 371569 321402 281564 230337 182182 117976

F 549991 511901 459721 449284 396415 364471 296132 270651 222973 182182 117976

G 491082 459721 442239 392866 360868 325004 281564 267049 215610 167243 114109

H 480646 428147 392866 360868332209 299735 256083 241356 204485 159827 106322

I 382218 360868 353770 321402 303390 259738 230337 208246 185891 121790 90588

J 292477 285220 281564 252375 248720 226629 211955 193360 167243 106322 82695

K 241356 237701 222973 200777 193360 182182 171005 156013 144729 94508 70616

L 222973 204485 200777 185891 171005 163535 152251 144729 123115 90588 66590

M 215610 200777 185891 167243 163535 159827 133339 129525 121790 78668 66590

N 189599 185891 174713 163535 159827 156013 129525 114109 94508 70616 58538

Round

0.70-0.79


D 961556 731061 628394 569962 525145 431644 372205 333268 272400 191983 123115

E 744728 659279 552745 535475 483612 396786 347466 301112 243316 182182 121049

F 645558 594066 507875 493996452463 389793 319071 290358 232403 182182 121049

G 549302 514762 473229 445523 400282 343916 290358 275949 217729 169680 117235

H 493996 483612 438583 407275 372205 322620 272400 254229 210365 159827 106322

I 424651 400282 389793 351015 333268 279551 243316 236005 199346 124810 90588

J 336818 315469 311919 275949 261487 239661 225092 221384 188275 109500 86191

K 297510 265089 257831 225092 210365 184619 177150 173441 147378 97952 70616

L 261487 221384 217729 203002 180858 169680 158555 151086 128571 90588 66590

M 250574 210365 206710 199346 177150 165972 151086 147378 124810 82271 66590

N 221384 199346 191983 180858 173441 162264 143616 124810 97952 70616 66325

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

JANUARY 1st 2012

THE DIAMOND RETAIL BENCHMARK - INDIA

DIAMOND RETAIL BENCHMARK FOR POLISHED DIAMONDS

JANUARY 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 basmarket 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 Fedof Diamond Bourses (WFDB) The DRB should be used as background information only. Actual diamond sale prices may be differ compared to this benchmark, depending on demand and supply at time of transasource of the diamond certificate; fluorescence; cut specifications; payment and other terms of business; foreign exchange rates; special stones and other business considerations. This is published jointly by T

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 consu


30/60


JANUARY 1st 2012


D 1277714 1086049 878915 723432 600688 538972 449284 400812 316899 216352 135193

E 972840 919229 797968 634857 566413 511372 435405 373000 316899 209094 127724

F 925904 784460 703037 573247 552692483824 407699 352075 309747 187056 121049

G 825039 696256 593854 518311 490711 442345 379940 330990 274148 187056 120201

H 600688 580134 545806 497598 463111 400812 366007 323945 238124 172329 112679

I 566413 497598 456224 435405 414638 352075 323945 281352 216352 135193 97369

J 490711 442345 414638 373000 345029 309747 288451 266943 194420 120201 89687

K 302648 295550 288451 281352 274148 259791 238124 223609 157496 112679 81900

L 266943 259791 252587 245382 238124 230867 216352 201783 135193 97369 81900

M 252587 245382 238124 230867 216352 201783 164965 150079 127724 97369 81900

N 245382 201783 194420 187056 179693 164965 157496 142610 112679 89687 74007

Round

0.9

0-0.9

9


D 1989650 1411053 1286772 1036835 877961 642856 540826 492883 375807 271340 155960

E 1391452 1247412 1017075 884583 764276 595338 506604 451721 368921 242945 141285

F 1221189 997315 851262 817887 683436 574942 479162 444834 355041 228589 141285

G 944392 857937 804484 683436 629295 540826 444834 424174 348154 214233 126399

H 784407 750820 676708 615733 568108 499770 437948 389687 327335 207081 118930

I 642856 629295 568108 527158 513491 451721 396574 375807 313402 192513 118930

J 527158 520324 499770 465495 444834 396574 368921 327335 264241 170687 111513

K 472329 458608 431061 403514 389687 341215 306463 285431 235794 126399 111513

L 389687 375807 355041 348154 320342 306463 278386 264241 228589 126399 103991

M 341215 334275 306463 292424 271340 250044 228589 221437 214233 126399 96468

N 334275 320342 285431 278386 221437 214233 207081 177997 148649 118930 96468

Round

2.0

0-2.9

9


D 38873882750430 2357776 2142219 1538300 1173617 877432 656471 532032 326381 169468

E 2655498 2440153 2091469 1818487 1365812 1109464 819159 643386 512325 312926 162529

F 22182922066094 1805772 1595725 1333815 1006586 780169 623785 439802 272294 141709

G 1773987 1583011 1391399 1256947 1167207 896874 747695 617269 426558 218788 126399

H 1391399 1276177 1205720 1109464 961451 858043 715168 604184 426558 218788 123221

I 1103001 1051615 1006586 877432 819159 721684 656471 551792 426558 197439 118930

J 877432 812643 773706 728147 662987 604184 551792 466184 333109 170687 115963

K 728147 721684 715168 643386 597668 545170 472805 419936 279074 127724 115963

L 591100 558308 532032 499187 466184 413314 386667 346565 251845 126399 110189

M 538601 525463 485996 459615 413314 359968 312926 285855 231397 126399 110189

N 479374 466184 452993 439802 373371 353240 292636 238230 217676 124969 102719


D 7356535 50569794372537 35801832855851 1826221 1210753 718029 595285 353717 179904

E 4623799 4227967 3693445 2969271 2426962 1585395 1204396 711619 575843 340526 166237

F 4215412 3561271 291889225532022180573 1471233 1115185 692283 556348 314144 159403

G 3202416 2654121 2540594 2167912 1813507 1280733 929824 679357 523821 287603 152516

H 2351154 2136286 1978154 1743844 1439501 1064117 872187 672894 517305 280982 152516

I 1743844 1636092 1515626 1401411 1159790 917057 788751 621190 432491 254229 145682

J 1388697 1287090 1217163 1115185 1019406 775931 679357 530337 425922 227370 145682

K 1070527 1044993 1032173 942644 872187 698746 582306 471693 393183 173071 131909

L 737365 730955 724492 718029 666431 510789 439007 399752 333957 173071 131909

M 640579 634116 627653 614727 556348 439007 386614 320766 267632 173071 131909

N 530337 504273 465177 452092 373424 360286 314144 287603 234098 166237 124969


D 2095495 1528340 1314002 1072434 908263 703142 575737 521649 419459 274730 155960

E 1489456 1326981 1065865 921401 815927 629560 535157 487692 405739 260851 141285

F 1248789 1085519 908263 855500 723114 609429 514868 467296 378350 232880 141285

G 960868 895072 855500 723114 656365 582465 480911 439961 371464 218788 126399

H 802683 769627 683118 642962 589192 535157 460462 433127 371464 218788 118930

I 683118 642962 582465 548719 514868 460462 412625 398905 350803 197439 118930

J 555447 521649 514868 487692 453628 398905 371464 357690 316316 170687 111513

K 480911 460462 446795 412625 405739 350803 316316 288610 239873 126399 111513

L 419459 392071 364577 350803 343916 316316 302437 281670 228589 126399 110189

M 385184 371464 316316 309376 288610 267791 253858 239873 225834 126399 110189

N 364577 350803 309376 302437 225834 218788 211690 204591 175931 124969 102719

Round

1.2

5-1.4

9


D 2447146 1802117 1616121 1371745 1125727 858519 674483 588557 474924 298199 166290

E 1744480 1564787 1339430 1190622 1047694 799505 641532 561963 454741 284478 159191

F 1500528 1326504 1184159 1067242 923838 779798 608475 528589 420943 256878 141285

G 1151685 1080274 995620 930407 825728 714055 555288 508511 407434 218788 126399

H 956471 891205 838812 786367 733815 661292 528589 468197 387038 218788 123221

I 799505 773229 746953 694296 628288 568638 468197 454741 380257 197439 118930

J 667914 641532 615097 575260 535263 474924 427723 387038 318806 170687 115963

K 541938 521914 515239 488433 454741 400653 346141 305085 243051 126399 115963

L 454741 427723 414215 380257 373477 332527 305085 284478 228589 126399 110189

M 420943 387038 352975 332527 291365 284478 263817 243051 225834 126399 110189

N 380257 373477 346141 318806 270704 256878 249991 222285 194473 124969 102719

Round

4.0

0-4.9

9


D 9066634 7235062 54024314030104 3081632 1973175 1353468 775083 646989 375543 197757

E 7966441 5640397 3961077 3546756 2955815 1669997 1302824 755906 602065 340526 166237

F 6322402 3885799 3345661 3125655 2590815 1594083 1271092 730319 589245 316740 159403

G 4819967 3125655 28363032622282 2080450 1397862 1099822 723909 544163 297033 152516

H 3678612 2357723 2256911 2061538 1745857 1302824 941002 691912 524827 290464 152516

I 2804836 1688962 1650978 1600387 1359826 1061733 883683 621348 466607 277326 150503

J 2143491 1461167 1290110 1201376 1112536 877273 787903 531237 427670 257513 145682

K 1347164 1233055 1125197 1017340 934645 749549 666272 473070 393183 191029 143722

L 1118893 1010983 864506 794260 730319 595655 492512 408122 336394 191029 143722

M 896397 768726 659862 614885 576372 518364 427670 369027 297033 191029 136888

N 672682 608475 544163 466607 388628 369027 342910 323256 264135 184301 136888



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

India Gems and Jewellery Trade Federation (GJF), a trade body headquartered in Mumbai, and IDEX, a diamond research house headquartered i n Tel Aviv Israel, with a view of unbiased ser vice to the consum

30


D 10890312 8052314 5958196 4407077 3254014 2135173 1593182 833515 680628 385290 202313

E 8289855 6420777 5158056 4300649 3178683 2128869 1473193 776249 642327 352869 169097

F 6322402 5014175 4989117 3987511 3071990 2122618 769891 629507 326805 169097

G 4819967 3210097 3203793 3166128 2820781 19462631460585 763534 623150 307257 155695

H 3678612 2789367 2644797 2550501 2280008 1492158 1334132 693395 559102 300741 155695

I 2804836 2368106 2273704 2059631 1889527 1340490 1080910 623150 501359 287709 155695

J 2143491 1895831 1858006 1504819 1460585 1125250 928712 539872 443457 261540 145682

K 1637364 1428958 1410046 1201270 1080910 877961 769891 482076 404732 208882 143722

L 1251915 1074553 941426 915998 789016 744410 603920 430531 346353 202313 143722

M 954087 814444 738053 699805 655094 584742 475666 391753 313773 202313 136888

N 731696 693395 629507 533462 436994 404732 378827 339837 281140 195691 136888


31/60


D 168144 151616 147484 126823 110295 97687 76444 59438 50962 42486 33957

E 126823 122691 114427 101925 93396 67967 63676 50962 46724 38195 29719

F 106163 89158 84920 80682 76444 63676 59438 46724 46724 38195 29719

G 93396 84920 80682 76444 72205 59438 50962 42486 42486 33957 29719

H 89158 80682 76444 72205 63676 50962 46724 38195 38195 29719 25481

I 84920 76444 72205 67967 59438 46724 42486 33957 33957 29719 25481

J 80682 72205 63676 50962 46724 38195 33957 29719 29719 25481 21243

K 59438 50962 46724 42486 38195 33957 29719 25481 25481 25481 21243

L 46724 42486 38195 33957 29719 25481 21243 17005 17005 17005 17005

M 42486 38195 33957 29719 25481 21243 17005 12714 12714 12714 12714

N 38195 33957 29719 25481 21243 17005 12714 8476 8476 8476 8476

Fancy

0.1

8-0.2

2


D 179375 175349 167296 142663 134399 105474 97210 72205 67967 50962 42486

E 171322 159191 155059 138531 130267 101342 93078 63676 63676 46724 33957

F 146795 142663 138531 134399 122002 97210 88946 59438 59438 42486 33957

G 142663 130267 126134 117870 113738 93078 80682 55200 55200 42486 33957

H 130267 122002 117870 109606 105474 88946 72205 50962 50962 42486 29719

I 117870 113738 109606 97210 76444 72205 67967 46724 46724 38195 29719

J 109606 97210 84814 67967 63676 59438 55200 42486 42486 33957 29719

K 84814 76444 67967 63676 55200 50962 46724 38195 38195 33957 25481

L 67967 63676 59438 50962 46724 42486 38195 33957 33957 29719 21243

M 59438 55200 50962 46724 42486 38195 33957 29719 29719 21243 17005

N 55200 50962 46724 42486 38195 33957 29719 25481 25481 21243 12714


D 318859248031217835206339183242 163800 136253 128306 112202 92018 67332

E 240455 217835 190976 187109 175560148066128306 116228 96044 75596 63200

F 225357202525179428 175560 167720 124280 112202 100071 92018 67491 54935

G 214074 179428 167720 155907 148066120254 108123 87992 79887 59226 50803

H 187109 175560 148066144093 128306 112202 100071 83860 75596 59068 46671

I 183242 163800128306 124280 116228 108123 96044 79728 67491 55094 46671

J 136253 128306 112202 108123 104097 100071 87992 75596 63200 46724 38195

K 120254 112202 100071 96044 92018 87992 83860 67332 63200 42486 33957

L 104097 100071 92018 83860 79728 75596 67332 63200 46671 38195 29719

M 100071 92018 83860 79728 71464 67332 63200 54935 46671 38195 29719

N 92018 83860 79728 75596 67332 59068 54935 50803 42486 38195 29719

Fancy

0.4

5-0.4

9


D 419777299894259368233304222126 180911 169574 165760 154211 115221 75225

E 318276 259368237012 207240 199770 173388 158026 146477 134875 91330 63200

F 266784229595210948 199770 188486 169574 154211 142663 130955 87303 54935

G 244481207240192248 184672 173388 161893 150344 138796 123115 87303 54671

H 214709 196009 184672 173388 169574 158026 142663 130955 119142 83277 54671

I 192248 169574 158026 154211 150344 138796 127035 115221 99382 75225 50539

J 161893 146477 142663 138796 134875 123115 115221 103408 91330 58803 46406

K 134875 130955 115221 111301 103408 99382 87303 83277 75225 50539 38142

L 119142 107381 99382 87303 83277 79251 71199 67067 50539 38195 33957

M 115221 103408 87303 83277 75225 71199 67067 62935 46671 38195 29719

N 103408 87303 83277 79251 71199 62935 58803 54671 42486 38195 29719


D 236906209412 193625 177838 153682 133551 109076 96680 84284 67756 46724

E 221172 189705 173812 161734 141603 121473 100812 88416 84284 59438 42486

F 177838 169786 161734 149656 137577 113208 96680 84284 76020 55200 38195

G 149656145629 137577 133551 121473 109076 92548 80152 71888 46724 33957

H 145629 133551 125499 121473 117341 104944 88416 71888 63623 46724 33957

I 133551 117341 113208 109076 104944 88416 80152 63623 59438 42486 33957

J 113208 100812 88416 80152 71888 67756 63623 59438 50962 38195 29719

K 88416 80152 76020 71888 67756 55200 50962 46724 38195 33957 25481

L 71888 67756 63623 59438 55200 46724 42486 38195 38195 29719 25481

M 63623 59438 55200 50962 46724 42486 38195 33957 29719 25481 17005

N 59438 55200 50962 46724 42486 38195 33957 29719 29719 25481 12714

Fancy

0.3

0-0.39


D 287392238336207558203690176355 140756 120625 104520100494 71623 59226

E 222920 211372 176355 168462 160621 128677 116599 100494 92283 67491 55094

F 207558 184195 164542 160621 148808 120625 108547 96415 84019 67491 50962

G 196009168462148808 144782 140756 116599 100494 84019 79887 59226 42486

H 172435 152728 136730 128677 120625 108547 96415 79887 71623 55094 42486

I 168462 136730 124651 120625 112573 104520 88151 71623 67491 55094 42486

J 124651 104520100494 96415 92283 88151 79887 67491 59226 46724 33957

K 108547 100494 96415 92283 88151 84019 71623 59226 50962 38195 29719

L 96415 92283 88151 79887 71623 67491 63359 50962 42486 33957 25481

M 92283 84019 79887 75755 67491 63359 50962 38195 33957 25481 21243

N 79887 75755 71623 67491 63359 55094 46724 33957 33957 25481 21243

Fancy

0.7

0-0.7

9


D 539607 410612 332209317799 306992248720219318 215610 204485 144729 98481

E 385767346565314197 310648303390233992200777 197068 185891140968 90588

F 335758332209299735296132 270651 226629193360 185891 182182 133339 82695

G 321402288822274307263394245064222973 185891 178421 159827 114109 78668

H 292477256083248720 237701 233992 189599 178421 167243 156013 102401 66590

I 241356 237701 208246204485200777 174713 144729 129525 125658 90588 58538

J 171005 167243 163535 159827 156013 152251 137153 106322 94508 62564 46406

K 148490 144729 140968 137153 133339 129525 117976 98481 78668 54459 38142

L 137153 117976 110242 106322 98481 94508 90588 86668 66590 50327 37930

M 129525 114109 102401 94508 86668 78668 74642 70616 62564 46195 33798

N 114109 102401 98481 90588 82695 74642 66590 58538 46195 38195 29719


D 600953459350 410771 372205 326170 268744236005228748225092 158555 101819

E 445523400282368656333268 304715265089214021 210365 199346 151086 94031

F 424651368656354564 329719 283154 261487 199346195638 191983 136094 86191

G 340367 311919 301112 290358272400 243316 195638180858180858 121049 78668

H 297510293960261487 257831 243316 199346 188275180858 173441 113367 74377

I 265089254229232403 221384 217729 191983 177150 154794 147378 97952 66325

J 214021 206710195638 177150 173441 165972 143616 113367 97952 66325 50221

K 162264 158555 151086 147378 143616 136094 124810 105686 78668 58273 42009

L 143616 124810 117235 113367 109500 101819 97952 94031 74377 54247 37930

M 136094 121049 113367 105686 90111 82271 78298 74377 66325 46195 37877

N 121049 113367 105686 94031 86191 78298 70404 62299 54247 42009 33745


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


JANUARY 1st 2012



JANUARY 1st 2012


32/60


JANUARY 1st 2012


D 716651 538972483824435405373000337983 274148 259791 245382 172329 105050

E 675860 470051 456224 421578 359067330990259791 245382230867 164965 97369

F 532085393872366007359067330990323945252587 238124 223609 142610 89687

G 386932352075 337983330990316899 295550245382230867216352 142610 89687

H 330990295550288451 281352 274148 259791 238124223609209094 127724 81900

I 309747 274148 266943 259791 245382 216352 209094 187056 187056 120201 74007

J 223609209094201783 194420 187056 179693 172329 150079 150079 105050 66113

K 194420 187056 179693 172329 164965 157496 150079 142610 127724 81900 66113

L 172329 157496 150079 142610 135193 127724 120201 112679 105050 74007 50062

M 164965 150079 135193 127724 112679 105050 97369 89687 81900 66113 50062

N 157496 120201 112679 97369 89687 81900 74007 66113 66113 42009 33745

Fancy

0.9

0-0.99)


D 1214620 937771 750820656418506604 403514 334275306463257143 177997 118930

E 891258 757548669927 561274 486049382747320342278386235794 164965 111513

F 784407683436 561274 533992472329 375807 313402 271340223609148649 96468

G 588557554441 513491 472329437948348154299470 264241 216352 148649 89687

H 513491458608424174 389687 355041 320342278386235794214233 141285 81900

I 431061 368921 361981 341215 313402 271340250044 221437 192513 126399 81211

J 348154 313402 306463292424271340 235794228589207081 170687 105050 81211

K 278386 271340 264241 235794214233 199823 185255 177997 155960 103991 73477

L 221437 214233 207081 199823 192513 177997 163323 155960 148649 103991 73477

M 170687 163323 155960 148649 141285 133816 118930 111513 111513 88893 65637

N 163323 155960148649 141285 133816 118930 111513 88893 81211 73477 65637


D 2503511 16530441416986 1167207 1096591 793201 577962 426558 339837 211690 141709

E 2085112 14999981224950 1122284 890411 734663 558308 419936 312926 190288 117605

F 1512766 1199310 1032332 916263 838601 702136 551792 393342 292636 168727 96468

G 1147977 1025922 903337 799664 734663 649955 518894 386667 285855 161469 89687

H 929189 741179 708652 689104 643386 564877 452993 379993 285855 159191 86562

I 656471 617269 604184 538601 492565 485996 439802 346565 224510 155589 84814

J 512325 472805 426558 419936 400017 373371 346565 292636 217676 141709 81211

K 406639 400017 393342 386667 379993 353240 326381 265460 203955 134716 79092

L 353240 339837 312926 292636 279074 258679 251845 217676 162529 113579 79092

M 319654 312926 285855 265460 251845 190182 183242 176355 137736 106481 79092

N 292636 279074 258679 238230 197068 183242 162529 141709 127724 101342 71676

Fancy

2.0

0-2.9

9


D 4215412 2742431 2654121213628617248261248948808034 536853 439007 254229 141709

E 383812124080502148947 195913616488061172558 724492 523821 425922 240826 118082

F 25216292 237469 1 60 441 31547305 981051 705156 510789 366855 207081 97263

G 2136286 1788185 1699504 13633221274376 859367 653558 484725 340526 179904 97263

H 1483894 1471233 1369679 1115185 955464 775931 621190 406268 320766 159403 90217

I 885007 878597 872187 859367 769521 672894 536853 386614 274307 155589 90217

J 846547 647095 640579 634116 608211 504273 452092 360286 254229 145682 83171

K 556348 543369 530337 523821 478209 406268 347095 287603 207081 134716 79092

L 386614 380046 373424 366855 347095 307522 254229 234098 166237 124969 79092

M 340526 327335 314144 307522 294278 254229 220590 179904 152516 106481 79092

N 294278 280982 267632 247554 200300 193519 179904 159403 138796 101342 71676


D 12944541000282769627 716492 535157 453628 385184 343916 309376 211690 124969

E 1118258 875260 683118 575737 528430 446795 371464 337029 274730 190288 117605

F 835740 716492 569009 548719 521649 426346 364577 330090 267791 168727 96468

G 602648 595920 562228 514868 460462 405739 357690 323203 239873 161469 89687

H 535157 494472 433127 412625 398905 337029 323203 246918 225834 154211 81900

I 439961 398905 392071 357690 337029 316316 274730 239873 197439 126399 81211

J 371464 330090 316316 302437 281670 274730 267791 232880 170687 110189 81211

K 295497 274730 267791 253858 246918 218788 211690 197439 168727 110189 73477

L 253858 232880 218788 211690 204591 197439 175931 168727 154211 110189 73477

M 232880 211690 190288 175931 161469 154211 124969 117605 117605 95303 72735

N 204591 190288 175931 168727 139643 132280 117605 95303 81211 80311 65637

Fancy

1.2

5-1.4

9


D 1731660 1177643 897721 812643 720624 588557 481705400653 325640 211690 137736

E 11906221060726884636799505 667914 568638 468197 380257 291365 190288 117605

F 1041231 956471 858519 714055 595179 548613 461469 373477 284478 168727 96468

G 812643 746953 654723 595179 555288 501836 427723 366643 284478 161469 89687

H 727246 608475 555288 515239 495108 434504 380257 325640 243051 159191 86562

I 535263 495108 488433 454741 414215 393819 325640 291365 201465 130531 81211

J 387038 380257 373477 366643 346141 325640 284478 263817 173388 115963 81211

K 346141 311919 298199 291365 284478 277591 256878 215345 168727 110189 79092

L 298199 249991 222285 215345 208405 201465 194473 180434 154211 110189 79092

M 243051 236164 215345 194473 180434 173388 159191 152092 137736 101342 79092

N 215345 208405 201465 187480 152092 144888 137736 130531 115963 101342 71676

Fancy

4.0

0-4.9

9


D 4537979 38167 19 30941872634890 1499151 1049072 589245 498975 290464 150503

E 4431392 2974728 2811140 23199522193923 1372487 1010983 544163 453628 257513 123221

F 2704129 2401852226321522506072168707 1309128 800670 524827 434133 224457 102560

G 215609920488771733196 1726892 1682605 1245717 749549 505438 395144 204432 97263

H 160038715940831587779 1581422 13788441093465 730319 434133 349426 191029 95674

I 1049072 1042715 10363581030001 1004625 870916 640579 414638 316740 164065 90217

J 928235 896397 877273 832614 813437 704679 505438 375543 257513 145682 88734

K 589245 582782 576372 569909 563499 557036 440649 316740 207081 136888 81794

L 485996 466607 460091 453628 447112 401607 349426 237701 170846 136888 81794

M 395144 382059 375543 369027 355995 336394 270704 184301 164065 136888 81794

N 297033 283895 270704 257513 244323 237701 211107 177574 164065 130055 74854


D 69396185770663 4601178 38433123329292 2122618 1580574 827158 674271 385290 202313

E 5708152 48514873937344335434930656861889527 1087214 559102 456330 257513 155695

F 448224936803603504905 3122211 2669960 1612147 1023856 539872 443457 228695 115116

G 3341794 2575664253789224435431870614 1422654 973105 507769 417658 208882 108282

H 2519033 2273704 20848472028163 1725674 1270880 884265 449920 359332 195691 101448

I 1795018 1586878 1378420 1372063 1340490 1144269 795373 430531 320342 182394 101448

J 1422654 1302506 1061892 1049231 1017499 852533 687038 398216 268056 169097 94561

K 1061892 903337 814444 808087 801730 597510 482076 326805 215504 142239 94561

L 782659 648684 546282 533462 507769 482076 365848 248402 170846 136888 94561

M 584742 482076 430531 404732 378827 359332 281140 195691 164065 136888 87674

N 436994 404732 365848 313773 254971 241833 215504 182394 164065 130055 80787

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




JANUARY 1st 2012

32


33/60


34/60

bmoJm| _| {\$a go nm Ho$ {V

bbH$ nXm H$aZo H$s H$mo{eeaZm| Ho$ _m` _y` _| Oo_\$sS>g mam ^mdZm, Z{VH$Vm Edn`mdaU Ho$ gamoH$mam| H$m gp_bZ

nm Am a aZ IXmZ g_yh Oo_\$sS>g Ho$ grBAmo B`ZhoAa~mQ>b H$hVo h, nm Ho$ {bE bmoJm| H$s _mJ H$mo {\$a goo[aV H$aZm MmhVm h& nm Ho$ $n _| h_mao nmg Eogo CnmX h{OZgo BH$m Ama EVoH$ go boH$a MJoO ImZ Ama pb`monQ>m

VH$ n[a{MV Wo& Ama, V~ r aZm| H$m gH$b d{H$ ~mOma _m$1.5 {~{b`Z A_o[aH$Z S>mba (7,736 H$amoS> .) H$m h& BgH$sVwbZm bwBg {dQ>Z (Louis Vuitton) Ogo EH$b H$nZr Ho$ _wZm\o$go {H$`m OmE Vmo `h$2.5 {~{b`Z A_o[aH$Z S>mba (12,894H$amoS> .) Wm!

nw Z dh H$hVo h, do H$n{Z`m Vmo M_S>o Ama bmpQ>H$ Ho$`dgm` H$aVr h& {\$a nm Ama aZm| Ho$ `dgm` _| bJo h_

bmoJ ~mOma _| Ama _y` H$s _mJ `m| Zht H$a gH$Vo? AnZogdmb Ho$ Odm~ _| dh H$hVo h, _wm ~mpS>J (Vw{VH$aU)H$m h& bwB {dQ>Z Ogr H$n{Z`m ~mpS>J H$mo g_PVr h AmaChm|Zo AnZo Zm_ _| hr _y` {Z{hV H$a aIo h& nm Ho$ gmW

`h ~mV Zht& Ama do ~mOma _| ahVo hE Cn^mo$mAm| H$m `mZAnojmH$V ~hV hr H$_ _y` H$s Amoa ItMZo H$s H$mo{ee H$aVoh, h_| dhm CZHo$ gmW hmoZm Mm{hE&

AnZo VarHo$ go, Oo_\$sSg H$m H$hZm h BgZo nm H$s H$s_VH$mo gJ{R>V IXmZ `dgm` Ama O`nwa Ho$ H$Q>mBEd nm{beH$aZo dmbo \$_m]Ed A` Ho$m| H$mo {Z`{_V Amny{VHo$ O[aED$na CR>mZo _| _XX H$s h& {ZaVa Amny{V Ama ghr JwUdmm

MEMO

34IDEX MAGAZINE

INDIA RETAIL|

NO14: SPECIAL REP

{dZmoX Hw$[a`Z mam

{deof [anmoQ>


35/60

hm{W`m| Ho$ dmg Ho$ {bE gwa{jV J{b`mao Ho$ {Z_mU hoVw IM{H$`m J`m&

bXZ _| g\$b hmoZo Ho$ ~mX Bg A{^`mZ H$mo ^maV _| Mmbm`m

J`m Ohm ~m brdwS> H$s A{^Zo r _mYwar Xr{jV BgH$m ~mS>E~gS>a ~Zr& ^maVr` CJmhr3.68 H$amoS> nE ($750,000)H$s hB{Og_| go 73.54 bmI ($150,000) . ^maV _| dS>bS> Q>Q> Ama dmBS>bmB\$ Q>Q> Ogo gajU A{^`mZm| Ho$ {bE{XE OmEJo& XmoZm| gJR>Z dÒrd J{b`mam| Ho$ ZoQ>dH$ Ho$ {Z_mUHo$ {bE H$màV h {OgH$m Co` h hm{W`m| Ho$ {dMaU Ho$ {bE Eogo gwa{jV _mJm]H$m {Z_mU H$aZm {OZna _Zw`m| Ho$ gmWCZH$m H$_ go H$_ Q>H$amd hmo&

Ama gmW hr Z{VH$ `dhma Zo H$Q>mBAma nm{be Ho$ `dgm`H$mo Z Ho$db ~ohVarZ `mnm[aH$ `moOZm ~ZmZo _| _XX H$s h~pH$ BgZo H$s_Vm| H$s d { hoVw Amd`H$ gmYZ ^r XmZ{H$E h&

gJR>Z Ama g_wV `moOZmAm| Ho$ O[aE Oo_\$sSg Zo X{Z`mâ_| Cn^mo$mAm| Ho$ AZwHy$b `mgm| Ho$ O[aE nm H$s _y`-d{Ho$ {bE H$m_ {H$`m h& BZ `mgm| _| go EH$ h hm{W`m| Ho$ {bEnm H$m`H$_& Bg `mg Ho$ gajH$ ~r~rgr dmBS>bmB\$ Ho$Vw{VH$Vm So>{dS> EoQ>Z~moamo Wo {Oh| X{Z`m â Ho$ Cn^mo$mn`mdaU Ho$ {bE gH$mam_H$ e{$ _mZVo h& BgHo$ mam hmWrWr_ dmbo nm Ho$ Am yfUm| H$s {~H$s go m YZ H$m EH$ {VeV

gJR>Z Ama g_wV `moOZmAm|Ho$ O[aE Oo_\$sSg Zo X{Z`mâ _| Cn^mo$mAm| Ho$ AZwHy$b `mgm| Ho$ O[aE nm H$s _y`-d{ Ho$ {bE H$m_ {H$`m h& BZ `mgm| _| go EH$ hhm{W`m| Ho$ {bE nm H$m H$_& Bg `mg Ho$

gajH$ ~r~rgr dmBS>bmB\$ Ho$ Vw{VH$VmSo>{dS>EoQ>Z~moamo Wo {Oh| X{Z`m â Ho$ Cn^mo$m n`mdaU Ho${bE gH$mam_H$ e{$ _mZVo h&


|NO 14: SPECIAL REPORT


36/60

d` Ord Ama n`mdaU Ho$ _wm| Ho$ Abmdm Omp~`m Ho$ H$J_(Kagem) _| {d Ho$ EH$_m gJ{R>V nm IXmZ Ho$ gMmbH$Oo_\$sSg H$s CnbpY Bg ~mV H$mo boH$a ^r h {H$ nm H$s

IwXmB H$m BgH$m H$m_ nyar Z {VH$Vm Ho$ gmW {H$`m OmVm h&25% Omp~`m`r gaH$ma H$s {hgoXmar dmbm `h IXmZ AnZol{_H$m| Ho$ OrdZVa H$mo gwYmaZo Ho$ Cnm` ^r H$aVm h& BZCnm`m| Ho$ VhV em{_b h WmZr` g_wXm`m| Ho$ {bE Hy$bm| Amadm` Ho$m| H$s WmnZm VWm Ch| H${f Ed EMAmBdr ESgH$s amoH$Wm_ g~Yr gbmh CnbY H$amZm&

Oo_\$sSg H$mo AnZo n`mdaUr` `dhma na ^r Jdh& Ogm{H$ H$nZr Ho$ grE\$Amo Xod eo>r H$hVo h, X{Z`m _| H$moB ^rnm H$s IwXmBCg Vah Zht H$aVm {Og Vah h_ H$aVo h& O~IXmZ dmbo jo h_mao A{YH$ma _| AmE Wo V~ dhm N>moQ>o-N>moQ>o

H$marJa CIZZH$VmAm| Ho$ ~S>r g`m _| Iwbo hE Jo Wo& h_ZoBZ Jm| H$mo nmZr go â H$a _N>br nmbZ Ho$ Obme`m| _| ~Xb{X`m& AnZo dV_mZ H$m` Ho$ XmamZ h_ IXmZ Ho$ hr EH$ {hgo_| IXmZ Ho$ An{e>m| H$mo X~m XoVo h, Z {H$ Ch| H$ht ~mha boOmH$a \|$H$Vo h& BgVah IXmZ Ho$ Jhao {hgo âVo OmVo h&{\$a, h_ An{e>m| go âo BbmHo$ _| noS> bJm XoVo h&

gnyU {H$`m lIbm _| D$Mo _mZXS>m| Ho$ H$m`_ aIZo Ho$ `mgAnZo Z{VH$ `dhmam| Ho$ Abmdm Oo_\$sSg MmhVm h {H$ CgH$sgnyU {H$`m lIbm _| ^r g_mZ _mZXS>m| H$m nmbZ {H$`m OmE&

Ogr y{_H$m H$^r hram `dgm` _| S>r ~o a Zo {Z^mB Wr dgr

Ian Harebottle

hr y {_H$m {Z^mVo hE Oo_\$sSg aJrZ nWam| Ho$ gH$aU`dgm` _| C Var` nmaX{eVm bmZm MmhVm h Ama `h ^rMhVm h {H$ JmhH$ VH$ nhMZo go nhbo nWa AnZo CnMma H$s{OZ {H$`mAm| go hmoH$a JwOaVm h CgHo$ ~mao _| nyar OmZH$marH$Q> H$a Xr OmE& Oo_\$sSg H$m _mZZm h {H$ Bggo aZVameZo dmbo CZ bmoJm| H$mo AZJT> aZm| H$s {~H$s ~X hmo OmEJrOmo nyU nmaX{eVm Zht ~aVVo&

lr eo>r Ho$ AZwgma, g_`m h [aQ>oba go Bg naX{eVm nmbZH$adm`m OmZm& EH$ ~ma O~ aZ H$Q>mB Ama nm{be H$aZo dmbo\$_ go {ZH$b OmE Vmo h_mao {bE AmJo H$s `mm _| BgHo$ {bEnyUnmaX{eVm H$m`_ aIdm nmZm _wpH$b hmo OmVm h& h_ AnZoJmhH$m| H$mo mogm{hV H$aVo h {H$ do AnZo Vameo hE _mb Ho$dbCht [aQ>obam| H$mo ~oM| {OZHo$ ~mao _| Ch| âmogm hmo {H$ do nyarnmaX{eVm H$m I`mb aI|Jo& bo{H$Z, AVV o Vmo [aQ>oba hr hmoVoProspective buyers at Jaipur

36IDEX MAGAZINE

INDIA RETAIL|

NO 14: SPECIAL REP


37/60

{~H$s H$s OmVr h& D$ Mr H$s_Vm| dmbo _mb Ho$ {bE bXZ,Omohmg~J Ama qgJmnwa _| ~mobr bJmBOmVr h O~{H$ gVrloUr dmbo _mb H$s ~mobr O`nwa _| bJmB OmVr h& N>Q>mB H$s

{~Hw$b ghr {H$`m AnZmZo Ho$ H$aU Oo_\$sSg Ho$ {bER>rH$-R>rH$ `h OmZZm g d hmoVm h {H$ BgHo$ bm^ H$m ~S>m{hgm H$hm go AmVm h& eo>r g_PmVo h, h_ AnZo bm^ H$m80% AnZo AZJT> _mb Ho$ Ho$db8% H$sE {~H$s go hm{gbH$aVo h& eof92% H$mQ>H$a nm{be {H$E JE no hmoVo h Omo_ybV Am_ IarXXmam| Ho$ {bE ~mOma _| {~H$Vo h&

`{n `mnH$ ~mOma Ho$ BZ nm| H$s H$s_V AnojmH$V {ZZVa H$s hmoVr h bo{H$Z CZH$s gw`dpW m{ Ama {~H$s goCZH$s H$s_V _| {ZaVa gwYma Am ahm h& O`nwa _| {nN>bo Zd~a_hrZo _|9.8 {_{b`Z H$aQ> Ho$ {ZZVar` _mb Ho$ {bE bJmB

~mobr$11 {_{b`Z S>mba (56.9 H$amoS> .) H$s ahr {Og_| {VH$aQ> $1.12 S>mba `m57.97 . H$s Xa nmB JB& `h Bg gmb_mM_| 12.98 {_{b`Z H$aQ> Ho$ {bE$0.77 S>mba {V H$aQ>H$s Xa go bJr ~mobr H$s VwbZm _|45.5% A{YH$ ahr& _mM _|Bg12.98 {_{b`Z H$aQ> Ho$ {bE Hw$b$9.9 {_{b`Z S>mba(51.24 H$amoS> .) H$s ~mobr bJr& _mM2010 H$s Zrbm_r H$sVwbZm H$aZo na, Ohm22.8 {_{b`Z H$aQ> H$s {~H$s Ho$db$7.2 {_{b`Z S>mba (37.3 H$amoS> .) `m {V H$aQ> $0.31S>mba m{Z16.05 . H$s Xa go hB, {V H$aQ> H$s_V _|261.3% H$m OmoaXma CN>mb Am`m h&

Separation at Kagem mine

h {OZHo$ hmWm| _| AnZo H$mCQ>a go {~H$Zo dmbo _mb Ho$ ~mao _|JmhH$ H$mo nyar OmZH$mar XoZm hmoVm h&

bo{H$Z D$na Ho$ Va na XoI| Vmo Oo_\$sSg Zo CXmhaU VwV{H$`m h& `h ~VmVo hE {H$ IXmZ Ho$ n`mdaUr` Cnm` {H$VZoH$maJa h eo>r H$hVo h {H$ O~ Oo_\$sSg Zo AnZm YYm ew$

{H$`m Wm V~ gaH$ma mam BgHo$ n`mdaU Xm{`d H$mof _|$5.2{_{b`Z A_o[aH$Z S>mba (26.9 H$amoS> .) H$s Xo`Vm AmH$s JBWr& AmO Bg _X _| H$nZr na Xo`Vm KQ>H$a Ho$db$500,000A_o[aH$Z S>mba `m{Z2.6H$amoS> . ah JB h&

Oo_\$sSg H$m g~go ~ S>m ^md nm Ho$ gH$aU ~mOmana nS>m h& IXmZ go hmoZo dmbo gnyUCnmXZ H$mo200 JoS> _|

S>m[aV {H$`m OmVm h Ama {\$a ~mobr {Z`{_V bJmH$a BZH$s

Rough emeralds


|NO 14: SPECIAL REPORT


38/60

AnZo Z{VH$ `dhmam| Ho$ Abmdm

Oo_\$sSg MmhVm h {H$ CgH$s

gnyU {H$`m lIbm _| ^r g_mZ

_mZXS>m| H$m nmbZ {H$`m OmE& Ogr

^y{_H$m H$^r hram `dgm` _| S>r

~o`a Zo {Z^mB Wr dgr hr ^y{_H$m{Z^mVo hE Oo_\$sSg aJrZ nWam|

Ho$ gH$aU `dgm` _| C Var`

nmaX{eVm bmZm MmhVm h...

Zd~a _| hB Zrbm_r _| 10.8 {_{b`Z H$aQ> Ho$ {bE 27H$n{Z`m| Zo ~mobr bJmB Wr& Hw$b {_bmH$a 1 {_{b`Z H$aQ> _mb~mobr Ho$ [aOdH$s_V VH$ Zht nhMZo Ho$ H$maU {~H$ Zht nm`m&Zrbm_r _|Q>oS> _Q>r[a`b ^r

idex india retail january 2012

Documents