"The company is ‘upbeat’ about the ongoing season and is fully prepared with fresh collections, campaigns and the launch of 15 more showrooms before Diwali. With prices trending upward, customers are “choosing to buy rather than wait”. In urban and Northern markets, there is growing interest in 18K gold, which was earlier used mainly for diamond jewellery, and is now also being chosen for even traditional designs in gold. In the South, the preference is still for 22K when it comes to gold jewellery."

"We expect record sale this Diwali in terms of volume as well as value due to FOMO (Fear of Missing Out) of the consumer and investor both. While jewellery sale is likely to be hit by 25% in comparison to last year due to higher prices, the sale of coins and bars could compensate. The sale of lightweight and low-carat jewellery is likely to pick up. We are seeing a surge in exchange of old jewellery for new and this could continue till prices settle down."