The sixth edition of Signature Mumbai reveled in impressive displays of diamonds
Oversize, elaborate, and diamond-intensive were the trends du jour at the sixth edition of Signature Mumbai Feb. 22–25 at the Bombay Convention & Exhibition Centre in India.
The looks played out in voluminous diamond cluster rings, some using special patented cuts that combine to form impressive statement pieces; bold necklaces, many a patchwork of traditional techniques and contemporary accents; oversize chandelier earrings with large drop sapphires, rubies, or emeralds accented by layers of diamonds; and bangles and cuffs featuring extensive filigree and rose-cut or simple rough sawn diamonds.
Organized by the Gem & Jewellery Export Promotion Council, Signature Mumbai is aimed at India’s key bridal buyers. Once almost exclusively ruled by gold, the bridal market—which accounts for some 80 percent of the Indian jewelry market—lately has been infiltrated by more diamond pieces due to the high price of gold, say exhibitors.
“The diamond jewelry market in India is booming and sales are growing,” says Jimmy Sanghavi, manager of KARP Jewellery, which promotes several diamond jewelry brands in India and other markets in Asia.
Stephen Lussier, CEO of Forevermark, the guest of honor at the show, confirms that India is the world’s fastest growing diamond market. In the year since De Beers began partnering with local jewelers to promote Forevermark-branded jewelry, sales have grown tremendously, he says. India now accounts for about 8 percent of its $1.5 billion sales worldwide. He predicts India will soon reach 20 percent of Forevermark’s global business.
Even exporting manufacturers that have been focused on the U.S. market are hoping to get a piece of the domestic action, by adding collections designed for Indian consumers. Gold Star Jewellery India Pvt Ltd., which sells nearly 90 percent of its production in the United States, is promoting diamond brand Ttva (Sanskrit for “you”). The jewelry features patented cuts that are combined in a piece to give the appearance of a large solitaire. “These combination solitaires are very popular in the bridal market in India because they give the appearance of a large single stone with a high perceived value,” says director Hemil Mody.