Within jewellery, diamond products are witnessing faster growth and increasing premiumisation compared with previous years, reflecting a shift in buyer preferences, particularly towards higher-grade offerings.
The company has also seen higher wedding-related footfalls through its Magnificent Weddings programme.According to Cotha, demand is being driven by bespoke diamond bridal sets, solitaires and coordinated family collections, especially in higher-value wedding purchases.
He noted that a recent moderation in prices of natural diamond solitaires has influenced consumer behaviour, with buyers showing renewed preference for natural diamonds.
Traditional designs combined with contemporary aesthetics are shaping purchase decisions.
While conventional bridal jewellery continues to retain emotional significance, demand for lightweight and contemporary diamond jewellery that can be worn beyond wedding functions is rising.
C Vinod Hayagriv, Managing Director and Director at the Krishniah Chetty Group, said natural diamonds continue to feature prominently in purchase decisions, supported by relatively stable resale values.At the same time, gold coins and bars continue to see steady demand from consumers focused on wealth preservation.
Fluctuations in gold and silver prices are influencing purchase timing and product choices.
Cotha said elevated gold prices have led many families to advance jewellery purchases or opt for a mixed allocation with a higher diamond component.
While sharp price movements can temporarily affect sentiment, weddings remain essential life events, prompting buyers to adjust spending patterns rather than defer purchases.
Cotha added that diamond jewellery is gradually gaining a larger share of wedding-related spending, even as gold purchases become more staggered and price-sensitive. Both natural and lab-grown diamonds are being chosen for milestone purchases, particularly among affluent and aspirational consumers, where design, transparency and brand trust are key considerations.
On the retail side, the company is adopting an omnichannel approach to address wedding demand, including personalised bridal consultations, bespoke design services and private family viewing lounges, along with digital initiatives such as virtual appointments, curated online catalogues and remote buying support for non-resident and outstation customers.
Cotha also said the company is expanding its engagement beyond traditional product sales by offering bundled wedding programmes, such as the Magnificent Weddings offering for purchases of ₹15 lakh and above, aimed at engaging customers across multiple stages of the wedding lifecycle.
According to estimates by the Confederation of All India Traders (CAIT), India’s current wedding season is expected to generate around ₹6.5 lakh crore in overall spending, with jewellery accounting for roughly 15%, or about ₹97,500 crore. While CAIT does not provide a detailed breakup between gold and diamond jewellery, industry participants indicate a gradual shift towards diamonds within wedding budgets.
Cotha said the outlook for the jewellery sector remains stable, supported by sustained wedding demand, premiumisation trends and evolving consumer preferences, even as volatility in precious metal prices continues to influence buying decisions.
