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It's Studded: Men's jewellery market grows 15% 12-31-2006
The Economic Times
PRAMUGDHA MAMGAIN & SURBHI GOEL
TIMES NEWS NETWORK
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NEW DELHI: Who says jewellery is only for women? With the rise of the metrosexual man and more products hitting the shelves, the men’s jewellery market is rocking to register a digit growth. According to industry figures, domestic men’s jewellery market is currently growing at 15%.
Besides the more conventional chains, rings, bracelets, cufflinks and kurta buttons, precious metals have entered into new categories such as diamond studded wallet clips, collar corner, wrist chains, belts and buckles to name a few.
Says Swarovski country manager (consumer goods business) Shiv Kumar: “The contrast of women becoming bolder and men getting sensitive is the key factor for the revolution in the jewellery market. Women have started experimenting with chunky jewellery and bold coloured stones, whereas men are going more for charms, crystal studs and lighter neckpieces.”
“Deficiency in innovative design, merchandise selection and product promotion has kept this category underdeveloped. But the time is now ripe to push this huge untapped market,” says Gold Souk director G S Pillai.
Adds Tanishq vice-president (marketing) V Govind Raj: “Though the market for these products is still very niche, the entry of more designers and jewellery makers is giving men’s jewellery the attention it deserves, helping to stimulate interest and demand.”
The most popular category among men is the simple heavy-weight gold chains and bracelets. The range for both the items start from Rs 10,000 and go up in lakhs depending upon the weight. To add the sparkling effect, consumers are also complementing the chains with pendants and lockets.
These days pendants with initials are in fashion. The bracelets for men are anything but feminine, incorporating materials such as brushed steel and rubber for a refined yet rugged style. The range of diamond studded bracelets starts from Rs 25,000.
Cufflinks and tie pins, whose market is picking up slowly, can cost about Rs 5,000 if in gold and could burn a hole four times more than if replaced by a few diamond studs. Crystal studded cufflinks and tie-pins are priced between Rs 3,000 and 6,000.
Says Surat Diamond Jewellery director Rajiv Mehta: “Rings based on astrological signs are also very popular these days. Diamond studded watches can also be an option. But for a more sober look, one can go for gold and steel watches.”
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