idex india retail, february 2012
TRANSCRIPT
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TO SURVIVAL OF
TRANSFORMATION
IS KEY
JEWELLERYRETAIL
FAMILY RUN
KEY
INNOVATIVE
HOLDS THE
LEADERSHIP
communication
results
Feb 12
MARKET
REPORT
Uncertain Exchange Rateand Polished Pricing BringBack Caution
INDUSTRY
NEWS
GJF Recognizes YearsStar Performers
SPECIAL
REPORT
The Changing Face OfThe Indian Woman
DIAMOND
RETAIL
BENCHMARA price list to assure yocustomers
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magazine india retail
05 FROM THE EDITORS DESK
Transformation & Relevance
06 MUMBAI DIAMOND MARKET
REPORT
Uncertain Exchange Rate & Polished Pricing Bring
Back Caution
10 SPECIAL REPORT
The Changing Face Of The Indian Woman
21 RETAIL ETC
27 DIAMOND RETAIL BENCHMARK
34 COVER STORY
Transformation Is Key To Survival Of Family-Run
Jewellery Retail
54 INDUSTRY NEWS
GJF Recognizes Years Star Performers
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15{deof [anmoQ>^maVr` _{hbmAm| H$m ~XbVm Moham
46AmdaU H$Wm
n[adma mam gMm{bV Am^yfU H$s XH$mZ Ho$ {bE~Xbmd EH$ Ah_ H$X_
w w w . i d e x o n l i n e . c o m
F E B R U A R Y 2 0 1 2VOL. 1 No. 15
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
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PUbLIsHED by yARON bARzILAy FOR IDEX ONLINE s.A
ISSN 0334-6838
2003 IDEX ONLINE S.A.
CONTENTS
FEBRUARY
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Editor
IDEX MAGAZINEINDIA RETAIL
|NO 15: EDITOR
ts clichd but true the only permanent thing in this
world is change. The Indian jewellery retail industrys
future depends on appreciating and acting on this fact.
The trouble is that so far, except for a few players, the
vast majority of jewellery retailers havent appreciated
this fact and think they can go on doing business the way
their forefathers did.
But the real world has a habit of catching up with
daydreamers and shaking them rudely awake. Unless the
jewellery retail industry recognizes the changes in the
Indian consumer particularly in Indian women and
works to transforming itself and its product, making it
relevant especially to the young segment of the market,
the future doesnt look so great.
Most jewellery retailers are fond of saying as long as
there are women, well have a business. They need to
wake up and smell the change. Jewellery isnt automatically
relevant to the young Indian woman of today. Also,not having generated a great deal of condence in
consumers in terms of the purity of gold in its product
and its valuation, the retail industry is now witnessing a
consumer rejection of its product as simply an investment
instrument. Last Diwali, Indians did buy gold with an
investment motive. But they bought primary gold
bars and biscuits and not jewellery. The increasingly
savvy and discerning woman of today doesnt want to
buy jewellery and be stuck with something of uncertain
purity and even less certain value, when a sealed gold
biscuit from a bank gives them the assurance of both.
Jewellery will only continue to be relevant to Indian
women in the future if it ts in with their lifestyles and
offers something in the way of fullling their aspirations.
Design, being contemporary and winning womenshearts is what the future demands. Not only that, the very
experience of buying jewellery, the design and layout of
the store, its ambience and the level of customer service
are all key to ensuring continued customer footfalls in
jewellery stores.
And with the inevitable inux of foreign brands and
their retailing formats on a large scale, Indian jewellery
needs to develop strong brands of its own that can stand
up against the onslaught.
This is not to say that there is no future for the family-run jewellery retailer. But in order to stay their ground,
family-run businesses will have to transform themselves
to become as professional and contemporary as the
biggest brands and retail chains. In fact, as our cover
story tells us, there is also room for the fairy tale the
family run business that transforms itself so much that it
is able to swallow up the big multinational competition.
idEX
transformation and rElEvancE
byVINoD KurIyAN
i
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MUMBAIDIAMOND MARKET
REPORT
by VINAY PAREKH
UNcERTAIN ExchANgE RATE & POlIshED
PRIcINg BRINg BAcK cAUTION
ith a volatile rupee-dollar exchange the rupee
having weakened 22 percent against the dollar at
one point the mechanics of importing rough diamonds
against dollar payments, processing them against rupee
payments and then trying to sell them either in the export
market for dollars or in the domestic market for more
rupees has become complicated to the extent of slowing
down business drastically.
A weaker rupee means diamonds processed in India become
more price-competitive in the international market. At the
same time, however, they become (sometimes prohibitively)
expensive in the domestic market. International demand
has been uncertain in the recent past, though the US market
does show signs of steadying, and through the tough times,
the diamond processing industry has relied on the domestic
market, which now nds its product expensive.
Complicating things further is the fact that no one, not even
the professional dealers with decades of experience, is sure
of what prices should be. Will the mining companies drop
rough diamond prices? Could consumers be persuaded to
accept current polished prices? Currently it appears not.
No one knows for sure. Which makes diamond dealing anextremely cautious business today.
The uncertainty looks like it is going to last through the
rst quarter of this year. And then, depending on whether
or not the US economy denitively improves and whether
or not Europe is able to extricate itself from its current
economic morass, perhaps things will be clearer though
not necessarily better. IDEx
W
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-0.01 (-2 ) Fair demand for SI & piqu goods. Overall demand & prices will see downward
trend.
-0.02 (+2-6.5) Very good demand for white SI & piqu
goods
Good demand for Top colors VVS-SI goods.
Fair demand for white VVS-VS goods.
Demand & prices will remain stable.
Shortages likely to ease in coming weeks.
0.03-0.07 (+6.5-11) Fair demand for Top colors VS-SI & white
SI2-piqu goods.
Overall demand & prices will remain soft.
0.08-0.14 (+11-14) Good demand for SI2-piqu goods.
Fair demand for VVS-VS goods.
Demand & prices will remain soft. Shortages
in piqu goods will be felt.
0.30(1/3) Good demand for VS-SI goods.
Fair demand for piqu goods.
Stable demand will be seen with some
pressure on the prices.
0.50(1/2) Good demand for VS-SI/J+ goods.
Fair demand for I1/I2 goods.
Stable demand will be seen with some
pressure on the prices.
0.75(3/4) Good demand for +0.90 carat SI+/F-J col.
Fair demand for I1-I2/J+ goods.
Demand & prices for VS-SI /+0.90 cts. Will
remain strong. Shortages will be seen for+.90 cts.
1.00(4/4) Very good demand for SI-I1 lower/ D-J col.
Good demand for VVS-VS/F-M col.
Overall demand will be stable, prices will be
under pressure. Demand for lower colors will
be stronger.
0.15-0.17 (+14-15.5) Good demand for SI2-piqu goods.
Fair demand for VVS-VS goods.
Demand & prices will remain soft.
Shortages in piqu goods will be felt.
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) Good demand for VS-SI goods.
Fair demand for piqu goods.
Stable demand will be seen with some
pressure on the prices.
+3.00 Fair demand for VS-SI/G-L col. Overall demand & prices will remain low.
MUMBAI DIAMOND TRADING IN JANUARY
Size in Carat(Sieve)
Comments Forward Call
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IDEX
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OZdar _mh H$m _w~B hram H$mamo~ma
-0.01(-2 ) SIVWm {nH$ _mbm| H$s AN>r _mJ& Hw$b {_bmH$a _mJ VWm H$s_Vm| _| {JamdQ> {XImB
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1.00(4/4) SI-I1 bmoAa/ D-J col. H$s H$m\$s AN>r _mJ&
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AmH$ma H$aQ> _|(grd)
{Q>nUr \$madS> H$m b
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The Changing FaCe
OF The indian WOman
And how this hAs trAnsformed the
consumer lAndscApe
ndia is a nation in a state of rapid change. The
change is manifold and encompasses attitudes
among other things, a growing intolerance of corruption
and bad governance, a heightening of aspirations and a
determination to achieve them, as well as a recalibration of
what the average Indian thinks is important and needs to be
prioritized in his or her life.
This transformation of India, says Bijou Kurien, President
and Chief Executive, Lifestyle, for Reliance Retail, is
profound. Driven by increasing access to information
systems like satellite television, it includes a cultural change
of signicant proportions, a blurring of the divide between
castes and communities as well as between urban and rural
markets. Economic liberalization has also brought about
ieconomic transformation. An increasing percentage of the
Indian population now has some amount of disposable
income. The outcome of all this, he notes, is that consumer
behaviour has been transformed, thus transforming the
market and in turn profoundly changing retail itself.
But what is important to note, he cautions, is that whateverhas emerging and is still emerging is not a single new
entity. India, he says, is an amalgam of three different sets
of people. According to Kurien, these sets may be roughly
divided by age. There are those who were born before
1950, those born after this year and nally those who were
born after 1990. All three sets have different aspirations and
needs and therefore all three sets require different product
sets.
memO
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they are increasingly more discerning about products and
much more knowledgeable about them. Increasingly, they
are looking for design over price. This has a far reaching
impact on the kind of jewellery that is offered for sale.
Within these sets, he continues, there are different kinds
of women. They constitute very different kinds of
consumers, he says. There are homemakers, professionals,those with independent means and those who run their own
businesses. A professional is more likely to want jewellery
that is lighter and more design oriented because she would
have more occasion to wear it as she goes out more and
interacts more with society. She would want something
that matches her wardrobe for different occasions. Against
this, a homemaker might be inclined to the more formal
kind of jewellery that would be worn at big occasions like
weddings and religious festivals. Even here, the age of the
woman would impact the kind of choices she makes for
jewellery. Add to this, the factor of whether the woman has
her own money and is empowered to make her own buyingdecisions and you have yet another set of variables. Women
form a customer group with very varied tastes.
He goes on, Women are slowly placing themselves above
their families. Where previously they would place their
family priorities above their own, they are now increasingly
placing their own wants at the top of the list. Kurien
makes the point that across all the classications of women,
indiA, is An AmAlgAm of three
different sets of people. thesesets mAy be roughly divided
by Age. there Are those who
were born before 1950, those
b o r n A f t e r t h i s y e A r A n d
finAlly those who were born
After 1990. All three sets hAve
different AspirAtions And needs
And therefore All three sets
require different product sets.
Kien: Cmpletel diffeent sets f wmen cstmes
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Kurien estimates the size of the Indian jewellery market at
Rs.1,00,000 crore. This market, he states, encompasses the
entire population of the country in both urban and rural
settings. Even today, this market is largely unregulated and
works on manufacturing and selling product on a cost-plus
basis. Very little attention is paid to factors like design,Kurien notes, and most jewellery is sold as an investment-
oriented product. This, according to him, removes jewellery
from the true luxury product category and commoditizes
it to a high degree.
If one is selling a commodity, he notes, one naturally
protects ones own territory. Territorial protection is a
high priority in Indian jewellery retail and this restricts the
spread of retail operators to other geographic areas from
the ones they are already established in. There is thus a
lack of strong brands, with the local store brand playing a
prominent role.
What the jewellery retail industry needs to consider, however,
is whether the product is still relevant to Indias youth. This
is vital in a country where fully half the population is now
under the age of 25 years. With young people migrating
from their hometowns and traditional areas for work, theWmen d a lt me bing independentl and thei jewellechices diffe
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traditional joint family is being continuously diluted and the
nuclear family is now gaining importance. An increasing
number of young women are now taking their own buying
decisions and so an increasing amount of jewellery is being
self-purchased. This category also favours brands over
commoditized product.
Catering to this new and growing segment are newer,
corporate retailers like Tanishq and Gitanjali (Kuriens own
Reliance Retail also has major plans for organized format
jewellery retail). The newer corporate retailers, Kurien
notes are going about selling the product very differently.
They are consciously developing creative brands, spending
substantially on advertising and promotions and most
importantly, they pay a lot of attention to design and
development and the quality as well as purity of the product.
With the newer corporates, even store design is different
diametrically different. Instead of the traditional closed,
secure store, the new retailers have gone in for open store
designs and along with this, much larger formats. Large
retailers like Tanishq have several multi-storied outlets with
products segmented in different divisions. These stores
also have industry and nancial support and are, therefore,
able to operate more decisively.
But it isnt the newer corporates alone, Kurien says, who
are making changes. Several family-run businesses too have
begun expanding and changing. Traditionally, family-run
businesses have been restricted in their expansion plans
because of the need to have sufcient family members.
These expansions therefore mean a shift from a reliance on
family to more trust in systems.
A professionAl is more likely to
wAnt jewellery thAt is lighter
A n d m o r e d e s i g n o r i e n t e d
becAuse she would hAve more
occAsion to weAr it As she
goes out more And interActs
more with society. she would
wAnt something thAt mAtchesher wArdrobe for different
occAsions.
Deepika Padkne tpifies the new cstme base f mden,ng wmen
retail displas t ae becming me pen and accessible
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All in all, Kurien says, the changes have brought about a
polarizing change in the market. Where India traditionally
had three distinct jewellery retailer categories the large,
medium and small the market is now coalescing into
just two, the large and the small. The medium players have
either moved up or down in the segmentation, or gone outof business altogether.
The overall jewellery market is now increasingly being
driven by advertising, attractive stores and branding.
The old family trust system is rapidly phasing out. A
consequence of this is that certifying agencies that test
and grade diamonds, coloured gemstones and the purity
of gold, will progressively become more important. The
recent government nod to making hallmarking compulsory
has given ofcial impetus to this movement.
It is, however, important to note, Kurien observes, that thechanges are by no means complete. The ones that happen
tomorrow will be just as profound as the ones that have
already taken place. Jewellery retail itself is still evolving.
We already have jewellery retail in malls and multi-store
settings, who knows, we might see jewellery being sold in
hypermarkets tomorrow, he says. There might be more
polarization, with the mass market at one end and specialty
stores and boutique formats at the other.
Driving all these changes, and still changing themselves are
Indian women. Kurien thinks that the key to succeeding in
the market of tomorrow is understanding the many faces
of the Indian woman and learning what each one wants. To
ignore the evolution of the Indian woman consumer is to
invite certain failure.
ideX
the Age of the womAn would
impAct the kind of choices she
mAkes for jewellery.
Add to this , the fActor of
whether the womAn hAs her
own money And is empowered to
mAke her own buying decisions
And you hAve yet Another set
of vAriAbles. women form A
customer group with very
vAried tAstes.
Cnsmes chices f jewelle have apidl changed ve the last few eas
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[abm` g [aQ>o b Ho$ A`j VWm _w` H$m` H$mar A{YH$mar{~OmoC Hw$[a`Z H$hVo h {H$ ^maV H$m `h $nmVaU H$m\$s Jhamh& goQ>bmBQ> Q>rdr Ogr gyMZm Um{b`m| H$s VoOr go ~T>VrCnbYVm _| _hdnyU AZwnmV dmbm EH$ gmH${VH$ n[adVZ,Om{V-g_wXm` d ehar VWm Jm_rU ~mOmam| Ho$ ~rM H$s gr_mAm|
H$m {_Q>Zm em{_b h& Am{WH$ IwbmnZ go Am{WH$ $nmVaUH$m {dVma hAm& ^maVr` OZg`m Ho$ EH$ ~S>o ^mJ Ho$ nmgA~ AnZo Cn`moJ hoVw n`m Am` h& BgH$m ZVrOm `h h {H$Cn^mo$m Ho$ `dhma _| n[adVZ Am`m, {Oggo ~mOma _| ~Xbmd
Am`m Ama BgHo$ n[aUm_d$n [aQ>ob Zo r IwX _| ~S>m n[adVZ{H$`m&
Hw$[a`Z H$hVo h {H$ _hdnyU`h h {H$ Omo ^r C^a H$a gm_ZoAm`m h-Ama A^r Ama A{YH$ C^a H$a Am ahm h- dhH$moBEH$ hr ZB MrO Zht h& CZHo$ _wVm{~H$ ^maV VrZ g_yhHo$ bmoJm| H$m EH$ {_lU h& Hw$[a`Z Ho$ _wVm{~H$ BZ g_yhm| H$moAm`w Ho$ AmYma na ~mQ>m Om gH$Vm h& do _mZVo h- Eogo bmoJ
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{dZmoX Hw$[a`Z mam
{deof [anmoQ>
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Kurien: Completely different sets of women customers
{OZH$m O_1950 go nhbo hAm Wm, do {OZH$m O_ BgHo$~mX hAm Wm Ama Eogo bmoJ {OZH$m O_1990 Ho$ ~mX hAm&`o VrZm| g_y hm| H$s AnZr-AnZr AmH$mjmE Am a O$aV| h,Bg{bE BZ VrZm| g_yhm| Ho$ {bE {^-{^ CnmX g_yh H$sAmd`H$Vm h&
do AmJo H$hVo h {H$ BZ g_yhm| Ho$ ^rVa H$B H$ma H$s _{hbmEh& CZ_| {^-{^ H$ma Ho$ Cn^mo$m em{_b h& CZ_| JhUr,noeoda, dV Or{dH$monmOZ d AnZo IwX H$m `dgm` H$aZodmbr _{hbmE AmVr h& EH$ noeoda _{hbm Eogo Am yfU boZmMmh|Jr Omo hHo$ hm| Ama AN>o {S>OmBZ dmbo hm|, `m|{H$ O~do ~mha OmVr h Ama bmoJm| go {_bVr-OwbVr h Vmo Ch| EogoAm yfU nhZZo Ho$ n`m Adga {_bVo h& do Hw$N> Eogm IarXZmMmhVr h, Omo AbJ-AbJ Adgam| na CZHo$ dmS>amo~ Ho$ _ob
ImVm hmo& dht EH$ J hUr A{YH$ AmnMm[aH$ JhZm| H$s AmoaAmH${fV hmoVr h, {Oh| ~S>o Adgam|- Ogo emXr Ama Ym{_H$`mohmam| na nhZm Om gHo$& `hm ^r _{hbmAm| H$s Am`w CZHo$Am yfU {dH$nm| H$mo ^m{dV H$aVr h& BVZm hr Zht _{hbmHo$ nmg AnZo ngo h `m Zht, AWdm do IarX Ho$ \$gbo IwX bogH$Vr h `m Zht, Bg AmYma na ^r Amn Ch| ~mQ> H$a XoIgH$Vo h& JmhH$ g_yh _| _{hbmE {^ H$ma Ho$ Cn^mo$m g_yhm|H$m {Z_mU H$aVr h&
CZ_| {^-{^ H$ma Ho$ Cn^mo$mem{_b h& CZ_| JhUr, noeoda,
dV Or{dH$monmOZ d AnZo IwX H$m `dgm` H$aZo dmbr _{hbmEAmVr h& EH$ noeoda _{hbm EogoAm^yfU boZm Mmh|Jr Omo hHo$ hm|Ama AN>o {S>OmBZ dmbo hm|, `m|{H$ O~ do ~mha OmVr h Ama bmoJm|
go {_bVr-OwbVr h Vmo Ch| EogoAm^yfU nhZZo Ho$ n`m Adga {_bVo h& do Hw$N> Eogm IarXZm MmhVr h, Omo AbJ-AbJ Adgam| naCZHo$ dmS>amo~ Ho$ _ob ImVm hmo&
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The woman consumers tastes range from the traditional tothe modern
do AmJo H$hVo h- _{hbmE Yrao-Yrao A~ d` H$mo n[admago D$na aIZo bJt h& Ohm nhbo do AnZr mW{_H$Vm H$mon[adma H$s mW{_H$Vm Ho$ ZrMo aIVr Wt, dht A~ do AnZr
BN>mAm| H$mo Q>mn gyMr _| aIZo bJt h& Hw$[a`Z H$m _mZZm h{H$ _{hbmAm| Ho$ g^r dJuH$aUm| _| do A~ CnmXm| Ho$ {V A{YH$g_PXma Ama A{YH$ OmZH$mar Ho$ gmW {XImBnS>Vr h& A~do H$s_V go nhbo {S>OmBZ A{YH$ XoIVr h& BgH$m {~H$s dmboAm yfUm| na XaJm_r ^md nS>m h&
Hw$[a`Z ^maVr` Am yfU ~mOma H$mo . 1,00,000 H$amoS> H$m~mOma _mZVo h& CZHo$ _wVm{~H$ Bg ~mOma _| Xoe Ho$ Jm_rU dehar XmoZm| H$s nyar OZg`m em{_b h& AmO ^r `h ~mOma_w`V A{Z`{V hr h Am a {Z_mU H$aZo Ho$ ~mX bmJV goA{YH$ H$s_V na {~H$s H$aZo H$s {H$`m na AmYm[aV h&
{S>OmBZ Ogo H$maH$m| na H$m\$s H$_ `mZ {X`m J`m h& Hw$[a`ZH$hVo h {H$ A{YH$Va Am yfU EH$ {Zdoemo_wI CnmX Ho$ $n_| ~oMo OmVo h& Bggo Am yfU ghr _m`Zo _| {dbm{gVm CnmXdJ go ~mha hmo OmVo h Ama Bgo H$m\$s hX VH$ H$_mo{S>Q>r H$m$n {_bVm h&
My{H$ wdm AnZo Jh eha Amanman[aH$ H$m jom| go dmg H$aaho h, Vmo nman[aH$ g w$ n[adma{ZaVa $n go g_m hmo aho h Ama~Xbo _| EH$b n[adma H$m O_ hmoahm h& H$B gmao wd{V`m A~ AnZoIarX {ZU` IwX bo ahr h AmaBg{bE ~S>r _mm _| Am^yfU H$s dod IarX H$a ahr h&Hw$[a`Z Ho$ _wVm{~H$ `{X H$mo B EH$ H$_mo {S>Q>r dVw H$mo ~oMVmh, Vmo dh dm^m{dH$ $n go AnZo jo H$s ajm H$aoJm& AnZojo H$s gw ajm ^maVr` Am yfU [aQ>ob _| C mW{_H$Vm Ho$gmW XoIr OmVr h Ama `h [aQ>ob gMmbH$m| Ho$ AnZo Wm{nVjom| go A` ^mJmo{bH$ jom| _| gma H$mo amoH$Vm h& Bg H$maEH$ _O~yV ~mS> H$s H$_r ahVr h, Ama WmZr` ~mS> EH$ _wI
y{_H$m {Z^mVm h&
Am yfU [aQ>ob CmoJ H$mo {Og ~mV na `mZ XoZo H$s Amd`H$Vm h, dh h {H$ `m ^maVr` `wdmAm| Ho$ {bE CnmX A^r ^r
mg{JH$ h& `h Eogo Xoe Ho$ {bE H$m\$s Ah_ hmo OmVm h, OhmH$s AmYr Am~mXr25 dfm]go ZrMo H$s h& My{H$ `wdm AnZo Jheha Ama nman[aH$ H$m`jom| go dmg H$a aho h, Vmo nman[aH$g w$ n[adma {ZaVa $n go g_m hmo aho h Ama ~Xbo _| EH$bn[adma H$m O_ hmo ahm h& H$B gmao `wd{V`m A~ AnZo IarX{ZU IwX bo ahr h Ama Bg{bE ~S>r _mm _| Am yfU H$s dod` IarX H$a ahr h& Bg H$maU go ^r H$_mo{S>Q>r H$s ~OmE~mS> H$mo `mXm VaOrh Xr Om ahr h&
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Actress Freida Pinto shows the international face of todays Indian woman
Bg ZE Ama C^aVo dJHo$ _oZOa H$monm}aoQ> [aQ>oba Ogo V{ZH$ d JrVmO{b (Hw$[a`Z Ho$ AnZo [abm`g [aQ>ob ^r) Ho$ nmgg J{R>V m$n dmbo dobar [aQ>ob H$s ~ S>r `moOZmE h& ZEH$manmoaoQ> [aQ>obg AnZo CnmX H$m\$s AbJ T>J go ~oM aho h&do {ZaVa $n go aMZm_H$ ~mS>m| H$m {dH$mg H$a aho h, Ohm do{dkmnZ VWm Mma na H$m\$s IMH$aVo h, Ama g~go Ah_~mV h {H$ do CnmX H$s {S>OmBZ, CZHo$ {dH$mg d JwUdmm-ewVm na ^r H$m\$s `mZ Xo aho h&
ZE H$manmoaoQ> Ho$ Q>moa {S>OmBZ r AbJ h, ~pH$ H$h| Vmo H$m\$sAbJ h& man[aH$ ~X, gwa{jV Q>moa H$s ~Oma `o ZE [aQ>obaIwbo Q>moa {S>OmBZ H$mo VaOrh Xo aho h Ama BgHo$ gmW CZH$md$n ^r H$m\$s ~S>m hAm h& V{ZH$ Ogo ~S>o [aQ>obam| H$s H$B_{Obr AZoH$ AmCQ>boQ> Iwb JE h, Ohm CnmX AbJ-AbJ
{d^mJm| _| aIo OmVo h& BZ Q>moam| H$mo CmoJ d {dmr` ghm`Vm^r m h Ama Bg{bE do A{YH$ {ZUm`H$ $n go H$mamo~maH$aZo _| gj_ h&
na ~mV Ho$db ZE H$manmoaoQ> H$s hr Zht h, Omo n[adVZ bmaho h& H$B n[adma gMm{bV `dgm` Zo ^r AnZm gma H$aZmAma d` _| ~Xbmd bmZm Ama H$a {X`m h& nman[aH$ $n gon[adma gMm{bV `dgm` gma H$aZo go ~MVo aho h, `m|{H$
BgHo$ {bE n[adma Ho$ gX`m| H$s n`m g`m H$s Amd`H$VmhmoVr h& Bg{bE A~ `o gma n[adma H$s {Z aVm go hQ> H$aEH$ Umbr Ho$ AmYma na {H$`m Om ahm h&
Hw$[a`Z H$hVo h {H$ BZ n[adVZm| Zo ~mOma H$mo Yw{dH$V H$a {X`mh& Ohm ^maV _| nman[aH$ $n go VrZ- ~S>o, _`_ Ama N>moQ>o
ZE H$manmoaoQ> [aQ>obgAnZo CnmXH$m\$s AbJ T> J go ~oM aho h& do
{ZaVa $n go aMZm_H$ ~mS>m| H$m{dH$mg H$a aho h, Ohm do {dkmnZ VWm Mma na H$m\$s IMH$aVoh, Am a g~go Ah_ ~mV h {H$ doCnmX H$s {S>OmBZ, CZHo$ {dH$mg dJwUdmm-ewVm na ^r H$m\$s `mZ
Xo aho h&
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BZ g^r n[adVZm| Ho$ _oZOa Ohm A^r ^r n[adVZ hmo ahm h,dh h ^maVr` _{hbmE& Hw$[a`Z _mZVo h {H$ AmZo dmbo g_`_| ~mOma H$s g\$bVm H$s Hw$Or ^maVr` _{hbmAm| Ho$ {d{^Am`m_m| H$mo g_PZo Ama do `m MmhVr h Cgo naIZo _| h&^maVr` _{hbm Cn^mo$m Ho$ {dH$mg H$mo ZOa AXmO H$aZo H$mAW Ag\$bVm H$mo Am_U XoZm h& IDEX
More open, accessible retail layouts are what service todays consumer
Women are more in control of their own lives
and make more of their own choices
Am yfU [aQ>ob dJhAm H$aVo Wo- ~mOma A~ Ho$db Xmo `m{Z~S>o Ama N>moQ>o _| {g_Q> H$a ah J`m h& _`_ Am yfU [aQ>obdJ `m Vmo D$na CR> JE `m ZrMo Mbo JE AWdm nyar Vah go
`dgm` go hr ~mha hmo JE&
Hw$b {_bmH$a Am yfU ~mOma A~ VoOr go {dkmnZ, AmH$fH$XH$mZm| d ~m qS>J mam gMm{bV hmoZo bJm h& A~ dh nwamZrnm[adm[aH$ ^amogo dmbr Umbr go hQ>Vm Om aVm h& BgH$mn[aUm_ h h {H$ Eogr EO|{g`m Omo hram| Ho$ JoS>, aJrZ aZm| AmagmoZo H$s OmM H$a ewVm _mUn XoVr h, Yrao-Yrao A{YH$_hdnyUhmo OmEJr& hmb_mH$ H$mo A{Zdm`~ZmZo H$s hmb hr _|AmBgaH$mar gh_{V Zo Bg _w{h_ H$mo Ama ~T>mdm {X`m&
Hw$[a`Z H$m _mZZm h {H$ hmbm{H$ `o ~Xbmd A^r nyU Zht hEh& Omo n[adVZ H$b hmoJm, dh CVZm hr Jham h Omo nhbo hmoMwH$m h& Am yfU [aQ>ob A^r ^r {dH${gV hmo ahm h& do H$hVoh- h_mao Am yfU XH$mZ _mb VWm _Q>r-Q>moa {V>mZm| _|nhbo go _mOyX h, H$mZ OmZVm h {H$ AmZo dmbo g_` _| Am yfUhmBna _mH}$Q> _| ^r ~oMm OmZo bJoJm& V~ em`X A{YH$ Yw{dH$aUhmo, Ohm OZ-gm_m` H$m ~mOma EH$ Amoa VWm no{e{bQ>r Q>moad ~wQ>rH$ d$n dmbo _mH}$Q> EH$ Va\$ hm|&
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HONORABLE HOMAGE
JEWELLERY BY VIANNAViannasStarck collection pays homage to the work
of designer Philippe Starck, who is renowned for his
contemporary and irreverent style, which focuses on
rounded and asymmetric shapes. The proportion of the
Starck ring is balanced by the use of gemstones, including
topaz, tourmaline, amethyst and praziolite, with different
shapes, colours and sizes, placed on the center of the ring.
RETAILET
CETERA
IDEX MAGAZINEINDIA RETAIL
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COLOUR CODE
EMBRACING THE THEME OF GLORIOUS COLOURS, THIS MONTHS PRODUCT
LAYOUT EMPHASIZES THE BEAUTY, INDIVIDUALITY AND ATTRACTIVENESS
OF COLOURED METALS AND ESPECIALLY BRIGHTLY COLOURED GEMSTONES.
BRING SOME COLOR INTO YOUR LIFE!
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Named for the Latin argentum, or silver, DiModolos
Triadra ARGENTO collection combines eclectic organic
forms, iconic brand design and evocative shapes. Its pink
color is derived by infusing sterling silver with rose gold
microns, giving the impression of gold at an affordable
price point. The collection comes in polished and rhodium
nishes and is completed with diamonds, pearls, onyx and
colored gemstones.
Pink imPressions
JEWELLERY bY DiMoDoLo
The Fleursdu Mondecollection from Alain Roure is a
romantic dream of nature and femininity. White, pink and
yellow gold interlace with diamond owers to create a
sensual collection. The 18 karat gold line is completed with
a matching line of earrings in complementary colors.
JEWELLERY bY ALAin RouRE
A World of floWers
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JEWELLERY bY GoshWARA
GossiP Girl This blue topaz and amethyst cushion bracelet with
diamond toggle in 18 karat white gold from the Gossip
collection byGoshwara is so beautiful its sure to get
tongues wagging! The company specializes in colorful
gemstone jewelry thats certainly worth talking about!
The Renaissance collection from Garaude is heavily
inuenced by historical periods such as the Middle Ages,
the Baroque era and, of course, the Renaissance. Silver or
blackened gold is combined with bright colored gemstones
and diamonds to create a delicate balance of classical and
contemporary aesthetics. A mens line is also available.
renAissAnce WomAn
JEWELLERY bY GARAuDE
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Encouraging desire and pleasure through delicious jewelry
with sensual tones, is the design credo behind Romain
HerzosElganceseries of rings. With their voluptuous and
richly colored forms, this design manifesto has certainly
been followed.
Naturally ElEgaNt
JEWELLERY bY Romain HERzo
StylE uNlIMItED
JEWELLERY bY Uni-DEsign
a ToUcH of RoYaLTY. Emeralds and diamonds are combined
in this stunning piece of jewellery that features 70 dazzling
diamonds weighing 0.98 carats, accentuating the brilliance
of 30 emeralds weighing 3.02 carats, to give you a delicately
crafted pendant in 18-karat gold.
PRinTs of HaPPinEss. Delicately crafted pendant and ring
set in platinum, with 22 diamonds each, in a micro prong
setting weighing 0.32 carats and 0.27 carats respectively.
a cascaDE of DiamonDs. This fabulous necklace in 18-karat
gold features 220 dazzling diamonds weighing 2.24 carats.
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Launched in 2008, the XC38 brand takes its name from the
chemical formula for steel. Initially typically masculine, the
brand was extended to the feminine world with steel jewelry
collections combined with other materials in geometric or
linear shapes. The Ethnique Fleurrange marries steel with
black PVD and black crystal or lacquer with black zircons.
JEWELLERY bY xC38
fAshion formul A
JEWELLERY bY FERi
heArtfelt
As cupids arrows rain down upon us, why not express
yourself with beautiful heart shaped earrings and pendants
from FERI? The romantic rhodium and silver pieces are
sure to capture the heart and spirit of lovers everywhere
this Valentines Day and every other day of the year!
LorenzasMistinguettcollection is named for the French
actress and singer Mistinguett delighted and inspired Paris
high society. The collection pays tribute to cabaret and its
shows. Designed in white gold, the collection of motifs
inspired by the lacing on the dancers corsets is available in
rings, wedding rings, pendants, earrings and bracelets set
with black and white diamonds and rubies.
JEWELLERY bY LoREnzA
BeAutiful erA
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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 [email protected]
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 ^amogm {Xcm gH|$Jo& ApIc ^maVr`aZ Ed Am yfU `mnma gK (OrOoE\$) mam g_WZ {XE OmZo go~|M_mH$ _y`m| H$mo Xoe^a _| drH$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 Umcr
Ho$ 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
ABOUT THE IDEX ONLINE DIAMOND RETAIL BENCHMARK
(022) 6633 2187
(022) 6633 2186
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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 266720 215749 207908 163747 155699 143627 115458 90953 74444 62011 49630
E 183867 175819 171795 143627 135579 111434 103386 82699 66190 53757 45502
F 171795 167771 163747 139603 131555 99259 95132 74444 66190 53757 45502
G 155699 151675 147651 131555 127530 95132 90953 70317 66190 53757 45502
H 151675 147651 143627 127530 123506 90953 86826 66190 62011 49630 41375
I 147651 143627 131555 119482 115458 86826 78572 62011 57884 49630 41375
J 139603 119482 111434 90953 82699 70317 66190 57884 53757 45502 37196
K 1 03 38 6 9 5 13 2 8 26 99 7 44 44 6 61 90 6 20 11 5 78 84 5 37 57 4 96 30 4 13 75 3 30 69
L 8 26 99 7 85 72 7 44 44 7 03 17 6 20 11 5 78 84 5 37 57 4 96 30 4 13 75 3 30 69 2 89 42
M 7 85 72 7 44 44 7 03 17 6 61 90 5 78 84 5 37 57 4 96 30 4 55 02 3 71 96 2 89 42 2 06 88
N 7 03 17 6 61 90 6 20 11 5 78 84 5 37 57 4 96 30 4 55 02 4 13 75 3 30 69 2 89 42 2 06 88
Round0.1
8-0.2
2
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 279463 237314 221785 190367 178605 151004 138932 102716 90644 70317 57884
E 221785 202130 194288 182525 162921 138932 126860 90644 86620 66190 49630
F 217865 198209 190367 174684 159000 134908 118812 86620 82596 62011 49630
G 202130 194288 186446 170763 151004 130884 110764 82596 78572 62011 49630
H 182525 174684 170763 166842 142956 126860 98692 78572 74444 57884 45502
I 166842 162921 159000 146980 118812 110764 94668 74444 66190 57884 45502
J 162921 151004 122836 102716 94668 86620 78572 70317 62011 53757 41375
K 1 22 83 6 1 10 76 4 9 86 92 8 66 20 8 25 96 7 44 44 7 03 17 6 20 11 5 78 84 4 96 30 3 71 96
L 9 86 92 9 06 44 8 66 20 8 25 96 7 85 72 7 03 17 6 20 11 5 78 84 4 96 30 4 13 75 3 30 69
M 9 06 44 8 66 20 8 25 96 7 85 72 7 44 44 6 20 11 5 78 84 5 37 57 4 13 75 3 30 69 2 48 15
N 8 25 96 7 85 72 7 44 44 7 03 17 6 20 11 5 37 57 4 96 30 4 55 02 4 13 75 3 30 69 2 48 15
d
Round0.4
5-0.4
9
d
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 478136 378774 350090 310520 230504 200943 197229 189696 159516 124951 85691
E 382333 332188 277864 241544 208475 174735 170969 167152 140325 89612 77643
F 339359 306909 259756 215801 197229 167152 148012 140325 124951 77798 69595
G 292361 270641 245207 204709 193463 163334 140325 132689 113188 73774 65571
H 274252 248870 223178 189696 178450 159516 136507 124951 105708 73774 61702
I 270641 212138 197229 174735 167152 151829 132689 121030 97866 69750 61702
J 204709 197229 185982 163334 144194 136507 124951 117109 89870 65571 53499
K 178450 170969 159516 151829 140325 132689 121030 113188 77798 61547 49475
L 155647 151829 148012 144194 136507 128872 101374 97454 73619 53499 45451
M 151829 140325 132689 128872 117109 113188 97454 81667 65571 53499 41375
N 136507 132689 124951 121030 113188 97454 93533 77643 65571 53499 41375
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 651840 502435 436761 387802 349006 288491 238088 230814 183557 176180 119895
E 488660 426288 401783 359582 313564 263419 216317 205431 168854 150178 100704
F 422780 391310 370210 341887 299222 241699 205431 198209 165140 123713 92862
G 408799 363142 341887 313564 266978 219980 187220 183557 157659 112208 85020
H 370210 341887 313564 274149 241699 205431 183557 179843 150178 108391 81099
I 317124 295611 266978 241699 223591 179843 168854 165140 142646 96783 77179
J 252585 238088 230814 209094 187220 168854 161425 157659 131348 92862 73258
K 216317 201820 194546 165140 157659 153893 146412 142646 127530 88941 65313
L 201820 179843 165140 157659 150178 142646 135166 131348 119895 69337 53241
M 176180 165140 153893 150178 146412 135166 123713 119895 112208 69337 53241
N 172517 161425 150178 142646 138932 127530 119895 100704 85020 65313 53241
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 316298 264450 226893 203935 184744 153583 141821 130058 114272 90128 65984
E 268216 238243 211571 188561 173188 145742 130058 126138 114272 82080 61960
F 249489 219258 192431 177108 161425 137900 126138 122217 114272 70008 53757
G 215388 196248 188561 173188 153583 133979 122217 118296 106224 70008 53757
H 188561 180926 173188 169267 149663 130058 114272 110248 94152 70008 53757
I 169267 165346 161425 149663 130058 126138 110248 102200 90128 65984 49630
J 165346 153583 137900 126138 118296 110248 106224 94152 78056 57884 45502
K 137900 133979 122217 114272 106224 98176 90128 86104 74032 53757 41375
L 122217 114272 110248 106224 102200 94152 78056 70008 61960 49630 37196
M 1 06 22 4 10 22 00 9 81 76 9 41 52 9 01 28 8 61 04 7 00 08 5 78 84 4 96 30 3 71 96 2 89 42
N 1 02 20 0 9 8 17 6 9 41 52 9 01 28 8 61 04 6 19 60 5 37 57 4 96 30 4 13 75 3 30 69 2 48 15
Round0.3
0-0.3
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 352411 301647 272550 257847 217091 175561 160239 156421 133154 101787 73774
E 297984 272550 250521 235818 194597 164056 144916 140995 121391 82080 69750
F 279876 250521 228337 205844 183248 160239 140995 137075 121391 77798 65726
G 257847 232103 220857 198364 179378 156421 133154 129233 109629 73774 61702
H 228337 220857 202130 187065 175561 152603 129233 117470 105708 73774 61702
I 217091 187065 179378 164056 156421 148734 125312 113550 97866 69750 61702
J 179378 171743 160239 148734 137075 125312 117470 105708 89870 61702 49630
K 167925 152603 148734 137075 129233 117470 101787 93894 77798 57678 45502
L 152603 144916 140995 133154 121391 109629 93894 77798 65726 49630 41375
M 144916 129233 121391 117470 109629 97866 77798 61702 53654 41375 33069
N 121391 117470 113550 109629 105708 89870 73774 57678 53654 41375 33069
d
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 836635 596174 542314 501868 461266 396418 337502 309488 249386 177418 119895
E 659939 522091 484998 457861 423812 361852 312997 274201 224313 177418 114891
F 535607 498514 447698 437535 386048 354939 288388 263573 217142 177418 114891
G 478239 447698 430673 382591 351431 316505 274201 260065 209971 162870 111125
H 468076 416950 382591 351431 323521 291896 249386 235044 199137 155647 103541
I 372222 351431 344518 312997 295456 252946 217142 202800 181029 118605 88219
J 284828 277761 274201 245775 242215 220702 191915 188304 162870 103541 80532
K 235044 231484 217142 195526 188304 177418 166533 151933 140944 88941 65313
L 217142 199137 195526 173755 166533 159258 144607 140944 119895 80532 64849
M 209971 195526 181029 162870 159258 155647 129852 126138 112208 76611 64849
N 184641 181029 170144 159258 155647 151933 126138 111125 92037 68769 57007
Round0.7
0-0.7
9
d
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 936410 711942 611961 555057 511412 420355 362471 324553 265276 186962 119895
E 725252 642038 538290 521472 470965 386409 338379 293238 236953 177418 117883
F 628676 578530 494593 481077 440630 379599 310727 282765 226325 177418 117883
G 534937 501300 460853 433872 389814 334922 282765 268732 212035 165243 114169
H 481077 470965 427114 396624 362471 314183 265276 247580 204864 155647 103541
I 413545 389814 379599 341835 324553 272240 236953 229833 194133 118605 88219
J 328009 307218 303762 268732 254648 233393 219206 215595 172517 106637 83937
K 289729 258156 251089 219206 204864 179791 172517 168906 140944 91572 68563
L 254648 215595 212035 197693 176128 165243 154409 147135 121546 80532 64849
M 244021 204864 201304 194133 172517 161631 147135 143523 114169 76611 64849
N 215595 194133 186962 176128 168906 158020 139860 121546 95390 68769 64591
Prices are in Rupees Per Carat Powered by www.idexonline.com
FEBRUARY 1st 2012
THE DIAMOND RETAIL BENCHMARK INDIADIAMOND RETAIL BENCHMARK FOR POLISHED DIAMONDS
FEBRUARY 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 bas
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 Fede
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 transa
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 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 consumer
-
8/2/2019 IDEX India Retail, February 2012
30/60
Prices are in Rupees Per Carat Powered by www.idexonline.com
FEBRUARY 1st 2012
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 1244299 1057647 855930 704513 584979 524877 437535 390330 308611 210694 131658
E 947399 895190 777100 618255 551600 497998 424018 363245 308611 203626 124383
F 901690 763945 684651 558255 538238 471171 397037 342867 301647 182164 117883
G 803463 678047 578324 504757 477878 430777 370003 322334 266978 182164 117058
H 584979 564962 531532 484585 451000 390330 356435 315473 231897 167822 109732
I 551600 484585 444293 424018 403795 342867 315473 273994 203626 124383 94822
J 477878 430777 403795 363245 336006 301647 280908 259962 182164 117058 87342
K 294734 287821 280908 273994 266978 252997 224829 217761 146154 109732 79758
L 259962 252997 245981 238965 231897 224829 203626 189335 124383 94822 79758
M 245981 238965 231897 224829 210694 196506 160651 146154 124383 94822 79758
N 238965 196506 189335 182164 174993 160651 153377 138880 109732 87342 72071
Round0.9
0-0.9
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 1937617 1374151 1253121 1009719 855001 626045 526682 479993 365979 264244 151881
E 1355063 1214790 990476 861450 744289 579768 493355 439908 359273 236592 137591
F 1189253 971233 829000 796498 665563 559906 466632 433201 345756 222611 137591
G 919695 835500 783446 665563 612838 526682 433201 413081 339049 208630 123094
H 763893 731185 659011 599631 553251 486700 426495 379496 318775 201665 115820
I 626045 612838 553251 513372 500062 439908 386203 365979 305206 187478 115820
J 513372 506717 486700 453321 433201 386203 359273 318775 257331 166223 108597
K 459976 446615 419788 392961 379496 332291 298448 277967 229627 123094 108597
L 379496 365979 345756 339049 311965 298448 271105 257331 215646 123094 101271
M 332291 325533 298448 284777 264244 243505 222611 215646 208630 123094 93945
N 325533 311965 277967 271105 215646 208630 201665 173342 144762 115820 93945
Round2.0
0-2.9
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 3785726 2678501 2296116 2086196 1498070 1142925 854485 639303 518118 317846 165036
E 2586052 2376339 2036773 1770930 1330093 1080449 797736 626561 498927 304742 158278
F 2160280 2012062 1758548 1553994 1298933 980262 759766 607472 428300 265173 138003
G 1727594 1541612 1355011 1224076 1136682 873419 728141 601127 415403 213067 123094
H 1355011 1242803 1174188 1080449 936307 835603 696465 588384 415403 213067 119998
I 1074155 1024113 980262 854485 797736 702811 639303 537361 415403 192276 115820
J 854485 791391 753472 709105 645649 588384 537361 453992 324398 166223 112931
K 709105 702811 696465 626561 582038 530913 460441 408954 258517 124383 112931
L 575641 543707 518118 486133 453992 402505 376555 337502 238604 123094 107307
M 524516 486133 473287 447595 402505 350554 304742 278380 219928 123094 107307
N 466838 453992 441146 428300 363606 344002 284983 232000 211983 121701 100033
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 7164149 4924730 4258187 3486555 2781165 1778462 1179089 699251 579717 344466 175200
E 4502878 4117398 3596855 2891620 2363493 1543934 1172899 693008 560783 331621 161889
F 4105171 3468138 2842557 2486432 2123548 1432757 1086021 674178 541798 305929 155234
G 3118667 2584711 2474153 2111218 1766080 1247240 905508 661590 510122 280082 148528
H 2234311 2080418 1926422 1698240 1401855 1036288 849378 655296 503776 273633 141873
I 1698240 1593306 1475990 1364762 1129460 893074 768124 604944 421181 247580 141873
J 1352380 1253431 1185332 1086021 992746 755639 661590 516467 414784 221424 141873
K 1042531 1017664 1005180 917992 849378 680472 567077 459357 382901 168545 128459
L 718081 711839 705545 699251 649002 497431 427526 389298 325223 168545 128459
M 623826 617532 611238 598650 529159 427526 376504 312377 260633 168545 128459
N 516467 491085 453012 440269 363658 350864 305929 280082 227976 161889 121701
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 2040694 1488372 1279638 1044388 884511 684754 560680 508007 408490 267546 151881
E 1450504 1292278 1037991 897305 794589 613096 521162 474938 395128 254029 137591
F 1216131 1057131 884511 833127 704204 593491 501403 455075 368456 226790 137591
G 935739 871665 833127 704204 639200 567232 468334 428455 361749 213067 123094
H 781692 749500 665253 626148 573784 521162 448420 421800 348336 213067 115820
I 665253 626148 567232 534369 501403 448420 401835 388473 334922 192276 115820
J 540921 508007 501403 474938 441765 388473 361749 348336 301286 166223 108597
K 468334 448420 435110 401835 395128 341629 308044 281062 229627 123094 108597
L 408490 381818 355042 341629 334922 301286 281062 274304 219928 123094 107307
M 375111 361749 308044 301286 281062 260787 247219 233600 219928 123094 107307
N 355042 341629 301286 294527 219928 213067 206154 199241 171330 121701 100033
Round1.2
5-1.4
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 2383148 1754989 1573856 1335871 1096288 836068 656844 573165 462504 290400 161941
E 1698859 1523865 1304402 1159485 1020295 778596 624755 547267 429693 277038 155028
F 1461287 1291814 1153191 1039332 899678 759405 592563 514765 403382 250160 137591
G 1121567 1052023 969582 906075 804133 695382 540766 495212 396779 213067 123094
H 931457 867899 816876 765802 714625 643998 514765 455952 376917 213067 119998
I 778596 753008 727419 676139 611857 553767 455952 442849 370313 192276 115820
J 650447 624755 599011 560216 521265 462504 416538 376917 310469 166223 112931
K 527766 508265 501764 475660 442849 390175 337089 297107 229988 123094 112931
L 442849 416538 403382 370313 363710 323830 297107 277038 219928 123094 107307
M 409934 376917 343744 323830 283745 277038 256918 236695 219928 123094 107307
N 370313 363710 337089 310469 263625 250160 243453 216472 189387 121701 100033
Round4.0
0-4.9
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 8829525 7045853 5261148 3924709 3001042 1921573 1318073 754813 630069 365722 192585
E 7758104 5492890 3857487 3454002 2878516 1626323 1268753 736138 586320 331621 161889
F 6157060 3784178 3258166 3043913 2523061 1552395 1237850 711220 573836 308457 155234
G 4693916 3043913 2762129 2553705 2026042 1361305 1071060 704977 529932 289265 148528
H 3582410 2296065 2197889 2007625 1700200 1268753 916393 673817 511102 282868 146567
I 2731484 1644792 1607802 1558534 1324264 1033967 860573 605099 454405 270074 146567
J 2087435 1422955 1256371 1169958 1083442 854330 767298 517345 416486 250779 141873
K 1311934 1200809 1095772 990734 910202 729947 648847 460699 382901 186034 139964
L 1089632 984544 841897 773489 711220 580078 479632 397449 327597 186034 139964
M 872954 748622 642605 598805 561299 504808 416486 359376 295662 186034 133309
N 655090 592563 529932 454405 378464 359376 333942 314802 257228 179482 133309
THE DIAMOND RETAIL BENCHMARK INDIADIAMOND RETAIL BENCHMARK FOR POLISHED DIAMONDS
FEBRUARY 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 ba
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 Fed
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 trans
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 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 consumer
30
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 10605511 7841732 5802379 4291824 3168916 2079335 1551518 811717 662828 375214 197022
E 8073061 6252863 5023164 4188179 3095555 2073196 1434666 755948 625529 343641 164675
F 6157060 4883045 4858643 3883231 2991653 2067108 1428527 749757 613044 318259 164675
G 4693916 3126148 3120008 3083328 2747013 1895365 1422388 743567 606853 299222 151623
H 3582410 2716420 2575631 2483801 2220382 1453136 1299243 675262 544481 292876 151623
I 2731484 2306176 2214243 2005768 1840112 1305433 1052642 606853 488248 280185 151623
J 2087435 1846251 1809416 1465466 1422388 1095823 904424 525754 431860 254700 141873
K 1594544 1391589 1373171 1169855 1052642 855001 749757 469469 394148 203419 139964
L 1219175 1046452 916806 892043 768381 724943 588126 419272 337295 197022 139964
M 929136 793145 718752 681504 637962 569450 463227 381508 305568 197022 133309
N 712561 675262 613044 519511 425566 394148 368920 330950 273788 190573 133309
-
8/2/2019 IDEX India Retail, February 2012
31/60
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 163747 147651 143627 123506 107410 95132 74444 57884 49630 41375 33069
E 1 23 50 6 11 94 8 2 111 43 4 9 9 25 9 9 0 95 3 6 61 90 6 20 11 4 9 63 0 4 55 02 3 71 96 2 8 94 2
F 1 03 38 6 8 6 82 6 8 26 9 9 7 85 72 7 44 4 4 6 20 11 5 78 8 4 4 55 02 4 55 02 3 71 96 2 89 4 2
G 9 0 95 3 8 26 9 9 7 85 72 7 44 4 4 7 03 17 5 78 8 4 4 9 63 0 4 13 75 4 13 75 3 30 6 9 2 89 4 2
H 8 6 82 6 7 85 72 7 44 4 4 7 03 17 6 20 11 4 9 63 0 4 55 02 3 71 96 3 71 96 2 8 94 2 2 48 15
I 8 26 9 9 7 44 4 4 7 03 17 6 61 90 5 78 8 4 4 55 02 4 13 75 3 30 6 9 3 30 6 9 2 8 94 2 2 48 15
J 7 85 72 7 03 17 6 20 11 4 9 63 0 4 55 02 3 71 96 3 30 6 9 2 8 94 2 2 8 94 2 2 48 15 2 0 68 8
K 5 78 8 4 4 9 63 0 4 55 02 4 13 75 3 71 96 3 30 6 9 2 8 94 2 2 48 15 2 48 15 2 48 15 2 0 68 8
L 4 55 02 4 13 75 3 71 96 3 30 6 9 2 8 94 2 2 48 15 2 0 68 8 1 65 6 0 1 65 6 0 1 65 6 0 1 65 6 0
M 4 13 75 3 71 96 3 30 6 9 2 8 94 2 2 48 15 2 0 68 8 1 65 6 0 1 23 8 2 1 23 8 2 1 23 8 2 1 23 8 2
N 3719 6 33 06 9 2 89 42 24 815 2 06 88 16 56 0 12 38 2 8 25 4 8 25 4 8 25 4 8 25 4
Fancy
0.1
8-0.2
2
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 174684 170763 162921 138932 126860 102716 94668 70317 66190 49630 41375
E 166842 155028 151004 134908 122836 98692 90644 62011 62011 45502 33069
F 142956 138932 134908 130884 118812 94668 86620 57884 57884 41375 33069
G 138932 126860 122836 114788 110764 90644 78572 53757 53757 41375 33069
H 126860 118812 114788 106740 102716 86620 70317 49630 49630 41375 28942
I 11 47 88 1 10 76 4 1 06 74 0 9 4 6 68 7 44 4 4 7 03 17 6 61 90 4 55 02 4 55 02 3 71 96 2 89 4 2
J 1 06 74 0 9 4 6 68 8 25 9 6 6 61 90 6 20 11 5 78 8 4 5 37 57 4 13 75 4 13 75 3 30 6 9 2 89 4 2
K 8 2 59 6 7 44 4 4 6 61 90 6 20 11 5 37 57 4 96 3 0 4 55 02 3 71 96 3 71 96 3 30 6 9 2 4 81 5
L 6 61 90 6 20 11 5 78 8 4 4 96 3 0 4 55 02 4 13 75 3 71 96 3 30 6 9 3 30 6 9 2 89 4 2 2 0 68 8
M 5 78 8 4 5 37 57 4 9 63 0 4 55 02 4 13 75 3 71 96 3 30 6 9 2 89 4 2 2 89 4 2 2 0 68 8 1 65 6 0
N 5 37 57 4 9 63 0 4 55 02 4 13 75 3 71 96 3 30 6 9 2 89 4 2 2 4 81 5 2 4 81 5 2 0 68 8 12 3 82
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 310520 241544 212138 200943 178450 159516 132689 124951 109268 89612 65571
E 234167 212138 185982 182216 170969 144194 124951 113188 93533 73619 61547
F219464 197229 174735 170969 155647 121030 109268 97454 89612 65726 53499
G 208475 174735 163334 151829 144194 117109 105295 85691 77643 57678 49475
H 182216 170969 144194 140325 124951 109268 97454 81667 73619 57523 45451
I 178450 159516 124951 121030 113188 105295 93533 77643 65726 53654 45451
J 132689 124951 109268 105295 101374 97454 85691 73619 61547 45502 37196
K 117 10 9 10 9 26 8 9 7 45 4 9 35 33 8 9 61 2 8 56 91 8 16 67 6 55 71 6 15 47 4 13 75 3 30 6 9
L 1 01 37 4 9 74 5 4 8 9 61 2 8 16 67 7 76 4 3 7 3 61 9 6 55 71 6 15 47 4 54 51 3 71 96 2 8 94 2
M 9 74 5 4 8 9 61 2 8 16 67 7 76 4 3 6 95 95 6 55 71 6 15 47 5 34 9 9 4 54 51 3 71 96 2 8 94 2
N 8 9 612 8 16 67 7 76 4 3 7 3 61 9 6 55 71 5 75 23 5 34 9 9 4 9 47 5 4 13 75 3 71 96 2 8 94 2
Fancy
0.4
5-0.4
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 408799 292051 252585 227202 216317 176180 165140 161425 150178 112208 73258
E 309953 252585 230814 201820 194546 168854 153893 142646 131348 88941 61547
F259807 223591 205431 194546 183557 165140 146412 138932 127530 85020 53499
G 238088 201820 187220 179843 168854 157659 142646 135166 119895 85020 53241
H 209094 190883 179843 168854 165140 153893 135166 127530 116026 81099 53241
I 187220 165140 153893 150178 146412 135166 123713 112208 96783 73258 49217
J 157659 142646 138932 135166 131348 119895 112208 96783 88941 57265 45193
K 131348 119895 112208 108391 100704 96783 85020 81099 73258 49217 37145
L 11 60 26 10 0 70 4 9 6 7 83 8 5 02 0 8 10 9 9 7 71 79 6 93 37 6 53 13 4 92 17 3 71 96 3 30 6 9
M 1 08 39 1 9 67 83 8 5 02 0 8 10 9 9 7 32 58 6 93 37 6 53 13 6 12 89 4 5 45 1 3 71 96 2 89 42
N 9 67 83 8 5 02 0 8 10 9 9 7 717 9 6 93 37 6 12 89 5 72 65 5 32 41 4 13 75 3 71 96 2 89 4 2
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 230710 203935 188561 173188 149663 130058 106224 94152 82080 65984 45502
E 215388 184744 169267 157504 137900 118296 98176 86104 82080 57884 41375
F 173188 165346 157504 145742 133979 110248 94152 82080 74032 53757 37196
G 145742 141821 133979 130058 118296 106224 90128 78056 70008 45502 33069
H 141821 130058 122217 118296 114272 102200 86104 70008 61960 45502 33069
I 130058 114272 110248 106224 102200 86104 78056 61960 57884 41375 33069
J 11 02 4 8 9 8 17 6 8 61 04 7 8 05 6 7 0 00 8 6 59 8 4 6 19 6 0 5 78 8 4 4 9 63 0 3 71 96 2 8 94 2
K 8 61 04 7 8 05 6 7 40 32 7 0 00 8 6 59 8 4 5 37 57 4 9 63 0 4 55 02 3 71 96 3 30 6 9 2 48 15
L 7 0 00 8 6 59 8 4 6 19 6 0 5 78 8 4 5 37 57 4 55 02 4 13 75 3 71 96 3 71 96 2 8 94 2 2 48 15
M 6 19 6 0 5 78 8 4 5 37 57 4 9 63 0 4 55 02 4 13 75 3 71 96 3 30 6 9 2 8 94 2 2 48 15 1 65 6 0
N 5 78 8 4 5 37 57 4 9 63 0 4 55 02 4 13 75 3 71 96 3 30 6 9 2 8 94 2 2 8 94 2 2 48 15 1 23 8 2
Fancy
0.3
0-0.3
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 279876 232103 202130 198364 171743 137075 117470 101787 97866 69750 57678
E 217091 205844 171743 164056 156421 125312 113550 97866 89870 65726 53654
F 194597 179378 160239 156421 144916 117470 105708 93894 81822 65726 49630
G 190883 164056 144916 140995 137075 113550 97866 81822 73774 57678 41375
H 167925 148734 133154 125312 117470 105708 93894 77798 69750 53654 41375
I 164056 133154 121391 117470 109629 101787 85846 69750 65726 53654 41375
J 1 21 39 1 10 17 87 9 78 6 6 9 3 89 4 8 9 87 0 8 58 4 6 7 77 9 8 6 57 26 5 76 78 4 55 02 3 30 6 9
K 1 05 70 8 9 78 6 6 9 38 9 4 8 9 87 0 8 58 4 6 8 18 22 6 97 50 5 76 78 4 9 63 0 3 71 96 2 89 42
L 9 38 9 4 8 9 87 0 8 58 4 6 7 77 9 8 6 97 50 6 57 26 6 17 02 4 96 3 0 4 13 75 3 30 6 9 2 4 81 5
M 8 9 87 0 8 18 22 7 77 9 8 7 37 74 6 57 26 6 17 02 4 96 3 0 3 71 96 3 30 6 9 2 4 81 5 2 0 68 8
N 7 77 9 8 7 37 74 6 97 50 6 57 26 6 17 02 5 36 5 4 4 55 02 3 30 6 9 3 30 6 9 2 4 81 5 2 0 68 8
Fancy
0.7
0-0.7
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 525496 399874 323521 309488 298964 242215 213583 209971 199137 140944 95906
E 396418 337502 305980 302524 295456 227873 195526 191915 181029 137281 88219
F 326977 323521 291896 288388 263573 224313 188304 181029 177418 129852 80532
G 312997 281269 267133 256505 238655 217142 181029 173755 155647 111125 76611
H 284828 249386 242215 231484 227873 184641 173755 162870 151933 99723 64849
I 235044 231484 202800 199137 195526 170144 140944 126138 122371 88219 57007
J 166533 162870 159258 155647 151933 148270 133567 99723 92037 60928 45193
K 144607 140944 137281 133567 129852 126138 114891 95906 73258 53035 37145
L 133567 114891 107359 103541 95906 92037 88219 84401 64849 49011 36938
M 12 61 38 1 111 25 9 97 2 3 9 20 37 8 4 4 01 7 66 11 7 26 9 0 6 4 8 49 6 0 92 8 4 4 98 6 3 29 14
N 1111 25 9 97 2 3 9 59 0 6 8 8 21 9 8 0 53 2 6 87 69 6 4 8 49 5 70 07 4 4 98 6 3 71 96 2 8 94 2
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 585237 447337 400029 362471 317640 261716 229833 222766 219206 154409 99156
E 433872 389814 359015 324553 296746 258156 208424 204864 194133 147135 91572
F 413545 352205 334922 321096 275749 254648 194133 190522 186962 132535 83937
G 331466 303762 293238 282765 265276 229833 190522 176128 176128 117883 76611
H 289729 286273 254648 244021 236953 201304 183351 172517 165243 110403 72432
I 258156 247580 226325 215595 212035 179791 168906 147135 139860 95390 64591
J 208424 201304 190522 172517 168906 154409 136249 106637 95390 64591 48907
K 158020 154409 147135 143523 139860 128872 117883 99156 76250 56749 40911
L 139860 121546 114169 110403 106637 95390 91572 87755 68563 52828 36938
M 132535 117883 110403 102922 87755 80119 76250 68563 64591 44986 36887
N 11 78 8 3 11 04 0 3 1 02 92 2 9 15 72 8 39 37 7 24 32 6 8 56 3 6 0 67 0 5 28 2 8 4 0 911 3 28 6 3
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 bas
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 Fede
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 transa
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 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 consumer
FEBRUARY 1st 2012
THE DIAMOND RETAIL BENCHMARK INDIADIAMOND RETAIL BENCHMARK FOR POLISHED DIAMONDS
FEBRUARY 1st 2012
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8/2/2019 IDEX India Retail, February 2012
32/60
Prices are in Rupees Per Carat Powered by www.idexonline.com
FEBRUARY 1st 2012
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 697910 524877 484585 417312 363245 329144 266978 252997 238965 167822 102303
E 658185 471171 444293 410553 349677 322334 252997 238965 224829 160651 94822
F 518170 383572 356435 349677 322334 315473 245981 231897 217761 138880 87342
G 376813 342867 329144 322334 308611 287821 238965 224829 210694 138880 87342
H 322334 287821 280908 273994 266978 252997 231897 210694 196506 124383 79758
I 301647 266978 259962 252997 245981 210694 203626 182164 182164 117058 72071
J 217761 203626 196506 189335 182164 174993 167822 146154 146154 102303 64384
K 189335 182164 174993 167822 160651 153377 146154 138880 124383 79758 64384
L 167822 153377 146154 138880 131658 124383 117058 109732 102303 72071 48753
M 160651 146154 131658 124383 109732 102303 94822 87342 79758 64384 48753
N 153377 117058 109732 94822 87342 79758 72071 64384 64384 40911 32863
Fancy
0.9
0-0.9
9)
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 1182856 913246 731185 639252 493355 392961 325533 298448 250418 173342 115820
E 867950 737737 652407 546596 473338 372738 311965 271105 229627 160651 108597
F 763893 665563 546596 520027 459976 365979 305206 264244 217761 144762 93945
G 573165 539941 500062 459976 426495 339049 291638 257331 210694 144762 87342
H 500062 446615 399668 379496 345756 311965 271105 229627 208630 137591 79758
I 419788 359273 352514 332291 305206 264244 243505 215646 187478 123094 79087
J 339049 305206 298448 284777 264244 229627 222611 201665 166223 102303 79087
K 271105 264244 243505 229627 208630 194597 180410 173342 130316 101271 71555
L 215646 208630 201665 194597 187478 173342 159052 151881 123094 101271 71555
M 166223 159052 151881 144762 137591 130316 115820 108597 108597 86568 63920
N 159052 151881 144762 137591 130316 115820 108597 86568 79087 71555 63920
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 2438040 1709022 1460771 1236561 1067913 772457 562847 415403 330950 206154 138003
E 2092336 1460771 1192916 1124198 867125 715450 543707 408954 304742 185311 114530
F 1516746 1199158 1005334 892301 841897 683774 537361 383056 284983 164314 93945G 1117955 1061671 879713 778751 715450 632958 505324 376555 278380 157246 87342
H 930013 721796 690119 671083 626561 550104 441146 370055 278380 155028 84298
I 639303 601127 588384 524516 479684 473287 428300 337502 218638 151520 82596
J 498927 460441 415403 408954 389556 376555 337502 284983 198622 124383 79087
K 396005 389556 383056 376555 363606 357054 324398 258517 191915 117522 77024
L 344002 330950 304742 284983 271776 251914 245259 211983 158278 110609 77024
M 311294 304742 278380 258517 245259 185208 178450 171743 134134 103696 77024
N 284983 271776 251914 232000 191915 178450 158278 138003 124383 98692 69801
Fancy
2.0
0-2.9
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 4105171 2670711 2584711 208 0418 1679719 1216286 786902 522813 427526 247580 138003
E 3737747 2345075 2092748 1907901 1605687 1141893 705545 510122 414784 234528 114994
F 2455684 2178955 1932561 1562455 1506841 955395 686714 497431 357261 201665 94719G 2080418 1741420 1655059 1327669 1241049 836893 636466 472049 331621 175200 94719
H 1445087 1432757 1333859 1086021 930477 718081 604944 395644 312377 155234 87858
I 861863 855620 849378 836893 749396 655296 535453 376504 267133 151520 87858
J 824408 630172 623826 617532 592305 503776 440269 350864 247580 141873 80996
K 554438 529159 516467 510122 465703 395644 338018 280082 201665 128459 77024
L 376504 370107 363658 357261 338018 299480 247580 227976 161889 121701 77024
M 331621 318775 312377 299480 286582 247580 214821 175200 148528 103696 77024
N 286582 273633 260633 241080 195062 188458 175200 155234 135166 98692 69801
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 1260602 974122 749500 697755 521162 441765 375111 334922 301286 206154 121701
E 1089013 852370 665253 560680 514610 435110 361749 328216 267546 185311 114530
F 813884 697755 554128 547525 508007 415196 355042 321457 260787 164314 93945
G 586888 580336 547525 501403 448420 395128 348336 314751 233600 157246 87342
H 508007 481541 421800 401835 388473 328216 314751 240461 219928 150178 79758
I 428455 388473 381818 348336 328216 308044 267546 233600 192276 123094 79087
J 361749 321457 308044 294527 274304 267546 260787 226790 166223 107307 79087
K 287769 267546 260787 247219 240461 213067 206154 192276 164314 107307 71555
L 247219 226790 213067 206154 199241 192276 171330 164314 150178 107307 71555
M 219928 206154 185311 171330 157246 150178 121701 114530 114530 92810 70833
N 199241 185311 171330 164314 135991 128820 114530 92810 79087 78210 63920
Fancy
1.2
5-1.49
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 1686374 1146846 874244 791391 701779 573165 469108 390175 317124 206154 134134
E 1159485 1064663 861501 778596 650447 553767 455952 370313 283745 185311 114530
F 1014001 931457 836068 695382 579614 534266 449400 363710 277038 164314 93945
G 816876 746610 637601 579614 540766 488712 416538 357054 277038 157246 87342
H 708228 592563 540766 501764 482160 423141 370313 317124 236695 155028 84298
I 521265 495212 475660 442849 403382 383520 317124 283745 196197 127118 79087
J 376917 370313 363710 357054 323830 317124 277038 256918 168854 112931 79087
K 337089 303762 290400 283745 277038 270332 243453 209713 164314 107307 77024
L 290400 243453 216472 209713 202955 196197 189387 175716 150178 107307 77024
M 236695 229988 209713 189387 175716 168854 155028 148115 134134 98692 77024
N 209713 202955 196197 182577 148115 141099 134134 127118 112931 98692 69801
Fancy4.0
0-4.9
9
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 4419303 3716905 3294899 3013269 2492416 1385965 1003064 573836 460699 263625 146567
E 4315504 2896933 2737623 2259281 2142687 1262562 903960 529932 429126 237933 119998
F 2633412 2339039 2204028 2191750 1989156 1200809 748622 504808 397449 218587 99878
G 2099713 1995295 1687870 1681731 1638602 1188479 717462 492220 384810 199086 94719
H 1558534 1552395 1546255 1540065 1342785 1003064 711220 422780 340288 179482 93172
I 1021637 1015446 1009255 1003064 978353 848140 623826 403795 308457 159774 87858
J 903960 872954 854330 810840 792164 686250 492220 365722 250779 141873 86413
K 573836 567542 561299 555005 548763 542469 429126 308457 201665 133309 79655
L 473287 454405 448059 441765 435420 391104 340288 231484 161889 133309 79655
M 384810 372067 365722 359376 346685 327597 263625 179482 159774 133309 79655
N 289265 276471 263625 250779 237933 231484 205586 172930 159774 126653 72897
IF VVS1 VVS2 VS1 VS2 SI1 SI2 SI3 I1 I2 I3
D 6758135 5619750 4480849 3742803 3242225 2067108 1539239 805526 656638 375214 197022
E 5558874 4724612 3834375 3266627 2985513 1840112 1058782 544481 444396 248303 151623
F 4365030 3584112 3413246 3040560 2600136 1569987 997080 525754 431860 222714 112105
G 3352163 2581770 2545038 2379640 1821694 1385449 947657 494490 406736 203419 105450
H 2453156 2214243 2030324 1975123 1680544 1237644 861140 438154 349935 190573 98795
I 1748076 1545378 1342372 1336181 1305433 1114344 774572 419272 311965 177624 98795
J 1385449 1268443 1034122 1021792 990889 830238 669071 387802 261045 164675 92088
K 1034122 879713 793145 786954 780763 581884 469469 318259 209868 138519 92088
L 762191 631720 531996 519511 494490 469469 356281 241906 164675 133309 92088
M 569450 469469 419272 394148 368920 349935 273788 190573 159774 133309 85381
N 425566 394148 356281 305568 248303 235508 209868 177624 159774 126653 78675
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 ba
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 Fed
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 trans
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 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 consumer
THE DIAMOND RETAIL BENCHMARK INDIADIAMOND RETAIL BENCHMARK FOR POLISHED DIAMONDS
FEBRUARY 1st 2012
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34IDEX MAGAZINE
INDIA RETAIL|
NO 15 COVER STOR
communication
results
TO SURVIVAL OF
TRANSFORMATION
IS KEY
RETAIL
FAMILY RUN
BY VINOD KURIYANKEYHOLDS THELEADERSHIPINNOVATIVE
JEWELLERY
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INDIA RETAIL|
NO 15 COVER STORY
Leadership is key to the future growth and well-being of the
Indian gem and jewellery industry. The key leadership challenge
today, is the need to transform the countrys largely family-
owned-and-managed jewellery retail businesses through the
induction of professional talent, up-to-date business processes
and high ethical standards. Without this transformation, the
Indian jewellery industry and its product will swiftly lose
relevance with the consumer and be overtaken by other luxury
products and services that already have made the transformation.
LEADERSHIP ISKEY
TO FUTURE
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36IDEX MAGAZINE
INDIA RETAIL|
NO 15 COVER STOR
A professional manager, he observed, differs from an owner-
manager in that he or she is a specialist whose salary is the major
source of income. His or her appointment to any particular position
is purely merit-based and entitlement plays no role. Influence,
he added, does not work.
ONE SIZE DOES NOT FIT ALL
But how does one let go ones own family business and turn it over
to professionals? How much and how fast, Mariwala, observes,
depends entirely on the family, the size of its business and thecompulsions of the current situation. The family should look
at what is important, he said, they need to understand that as
growth takes place, complexity and conflicts increase. The size of
the business and the aspirational level of the family will usually
determine the level of professionalism that is required to effect
the necessary changes. There is no single way or one rule that fits
all, in determining this.
This, however, is easier said than done. Leadership, by its very
definition, is a singularly lonely endeavour, with the vast majority
of businesses simply content to play the role of followers. Leaders
innovate while followers most people ask why and when,
said Nirupa Bhatt, Managing Director for India and the Middle
East, of the Gemological Institute of America (GIA), in her opening
remarks at the Leadership Summit that the GIA had organized in
Mumbai on January 5 with the support of the All India Gem &
Jewellery Trade Federation (GJF).
Bhatt went on to note, Most businesses are over-managed and
under-led. Leadership is a continuous process once a leader,
not always a leader. In todays markets, where the need to cope
with change is great, the economic situation extremely volatile and
where much greater complexity is the norm, the need for leadership
is that much greater. Leaders create trust, she observed.
Bhatt went on to say, Even though the industry has registered
double-digit growth annually in the last few years, its future growth
and well-being will be in direct proportion to its skill levels. Most
industries grow in good times, the challenge is to sustain growth
and momentum in bad times. In this, she went on to say, past
success is no guarantee of future victories.
Summing up, Bhatt said, Success is not final, failure is not fatal.
The courage to continue is what matters. And to continue, Bhatt
observed, the professionalization of the countrys largely family-
owned-and-managed jewellery retail businesses was of prime
importance.
It was perhaps with this in mind that the organizers chose as
the events keynote speaker, Harsh Mariwala, the Chairman and
Managing Director of Marico Ltd. Mariwala shared his experiences
in the transformation of what was a family business that sold
coconut oil and had a turnover of Rs. 50 lakh, into the publicly
listed beauty-products behemoth that today reports a turnover
of Rs.3,000 crore. This incredible transformation took just three
decades to effect.
Mariwala struck a chord with the family-owned Indian jewelry
retail businesses when he revealed how he too didnt have a
business degree, but sought expertise from outside experts and
upgraded his own knowledge and skills through a combination
of interacting with professionals and taking whatever short-termcourses he could.
We didnt have the skills, so we had to look outside, he said,
recounting the choices he faced in trying to transform the family
business. When you bring in expertise, you have to face up to the
fact that youre going to be dealing with more qualified people
and you have to loosen the reins to let changes be effected.
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o continue
Most businesses are over-
managed and under-led.
eadership is a continuous
process once a leader, not
lways a leader. In todays
markets, where the need to
ope with change is great, the
economic situation extremely
volatile and where muchgreater complexity is the
norm, the need for leadership
s that much greater.
irupa Bhatt, Managing Director for India and the Middle East,
f the Gemological Institute of America (GIA)
IDEX MAGAZINEINDIA RETAIL
|NO 15 COVER STORY
While effecting the change, Mariwala cautions, it is important that
the family maintain cohesion. They need to clearly determine such
issues as wealth sharing, gains, family careers and how they move.
Conflicts cant be avoided in something so complex and Mariwala
recommends that a clear process for conflict resolution be put in
place. Bring in an outsider for this if need be, he says, observing
that a non family member might bring in the needed impersonality
in the assessment of these issues.
The Marico transformation story started three decades ago when
Mariwala assembled the elders of the family his father and
three uncles who ran the relatively small oil business and told
them he wanted space to start working on changing the business.
I made it clear that I wasnt asking to move out of family control,
he said, I was still answerable to the family elders, but I wanted
sole charge of the familys oil business particularly the flagship
Parachute coconut oil brand. I agreed to my cousins having similar
control of the other parts of the family business if they wanted to
make changes too.
The oil business, then known as Bombay Oil Industries Limited,
served as the platform for the launch of the Marico corporate
brand. To do this, Mariwala had to start from scratch. If we were
to