RNCOS White Paper - Booming Imitation Jewellery Market in India
RNCOS White Paper: Booming Imitation Jewellery Market in India
Indian imitation jewellery market is projected anticipated to grow at a CAGR of 23.5% during
2013-2017, says RNCOS.
Indian jewellery business has undergone a drastic transformation over the years. Original
diamond and gold jewellery has now made a way forward for artificial jewellery. The skyrocketing prices of the traditional jewellery whether it is gold, diamond or silver, has
encouraged people to opt for affordable imitation jewellery. India Imitation jewellery market
has witnessed tremendous growth in the past few years. In 2012, the market grew around 85%
compared to the previous year. In addition, the imitation jewellery market was estimated to
reach INR 98.5 Billion by the end of 2013 with rising demand.
As per a recent study by RNCOS, the imitation jewellery market in India is anticipated to grow
at a CAGR of around 23.5% during 2013-2017 with soaring gold and silver prices, rising
consumer preference, availability of more innovative designs and variety etc. Regionally,
Mumbai is main hub for Imitation Jewellery, which eventually goes to several cities in India.
North and South of India are two biggest markets for High end Imitation Jewellery.
Highlighting the opportunities in the market, Shushmul Maheshwari, CEO - RNCOS said that
high demand, consumer preference, variety and affordability are the major propellants to the
industry growth. RNCOS research revealed that imitation jewellery is safer to wear as
compared to the authentic jewellery. In the present day when theft and crime is increasing in
society, customers feel more secure wearing fake jewellery. In addition, the Imitation
jewellery comes with unlimited and exquisite designs which can be easily purchased.
To tap the growing demand for imitation jewellery market, numerous branded players such as
Juvalia and You, Delhi Artificial Jewellery, Lotus Jewellery, Alex Jewellery etc are focusing
on this industry. In addition, export market is also supporting the growth in the industry as
India is the second largest manufacturer of imitation jewellery after China. Indian imitation
jewellery has a huge demand in the US, Europe, Canada, Australia and many other Asian
The imitation jewellery industry in India has future growth perspectives which can be
achieved, devising appropriate business strategies. RNCOS acts as your growth partner in all
your business endeavors, be it product launching, geographic expansion, sales improvement,
distributor/retailer tie-ups etc. We help make your business flourish by studying the market
dynamics, collating with your business and devising the right strategies.
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