Bhubaneswar: Chairman of Lalchnd Jewellers Sunjoy Hans said the price of gold will ease once the market gets back to normalcy. In an exclusive interview, Hans talked about price-hike of the yellow metal and increasing demand for Platinum in the jewellery market.
Here is an excerpt from the conversation:
Post lockdown, what is the current state of Jewellery industry?
The lockdown has adversely affected almost every business sector and ours is no exception. But, the market is slowly recovering now. With every unlock procedure, the market returned one step closer to normalcy. We’re really thankful to all our customers visiting our shops wearing face-masks and maintaining proper social distancing norms.
The demand for jewellery has increased since Dhanteras. How long do you think it will stay so?
The sale of gold shoots up every year during Dhanteras as it comes just before the wedding season. This kind of demand for gold will remain only during festive occasions. Then it plunges slightly. Normally, jewellery market gets dull during summer.
Which category of customers should gold-selling shops prioritize on?
Normally, people say ‘women’. But, I believe one can’t categorize that way. Be it men or women, the youth or the adults, rich or poor, traditional or modern, every customer’s requirements must be catered.
Apart from gold and diamond, what other jewellery in the showroom must customers try?
I will definitely suggest silver. Our Tarakasi (Filigri) craftsmen design incredible silver jewellery and they are worth a try not just in Odisha but also in the national and international jewellery market. We are really proud of our craftsmen who have continued working in spite of all the adversities that had come their way. Another jewellery that has been in demand is Platinum. The new generation prefers it more.
What are the plans for expansion?
We always dream big. Last year, we established our largest showroom for the Eastern India zone in Ragunathpur, Patia area Bhubaneswar. We are planning to set up our showrooms on every commercial hub in the state. People across the state love our jewellery. So, we are looking forward to reach them all, as soon as possible.
When do you think gold price will relax buyers’ pockets?
The rates will automatically come down as the market situation gets better. Usually, price of gold rises during pandemics, war and extraordinary circumstances. Covid-19 pandemic is a global emergency situation. Luckily, vaccines are under preparation. Things will soon return to normalcy and once that happens, the gold price will ease too.
What is your take on Brands of Odisha Pride of India?
It is an excellent and utterly necessary initiative. The world should recognize all the good work that carries on in our state. Sambad Group is doing a commendable job by introducing them on a national level. I thank Sambad for that.