India’s Jewellery Market: B2B Growth Opportunities

The Indian jewellery market is undergoing a fundamental shift, moving from a largely unorganised sector to a more structured, organised landscape. This transformation unlocks substantial growth potential for behind-the-scenes B2B jewellery manufacturers.

Sky Gold & Diamonds: Advanced Manufacturing Fuels Growth

Sky Gold & Diamonds, a key player in jewellery design and manufacturing, is strategically adopting an ‘Advanced Gold Manufacturing’ model. This approach involves jewellers supplying the gold, allowing Sky Gold to charge for job work, which effectively reduces its working capital requirements.

• The company has demonstrated strong financial performance, reporting significant revenue and profit growth.
• Its client base includes major national retail brands, solidifying its position within the organised sector.

Goldiam International: Leading in Lab-Grown Diamonds

Goldiam International, a luxury diamond jewellery manufacturer, stands out for its leadership in lab-grown diamonds (LGDs). The company has proactively adjusted its business model to navigate US tariffs through a hybrid casting model, showcasing strategic adaptability.

• Goldiam has experienced robust financial growth, with LGDs constituting a major portion of its exports.
• Its expansion efforts include growing its retail footprint through the ORIGEM brand.

Shringar House of Mangalsutra: Targeting Organised Retailers

Shringar House of Mangalsutra specialises in mangalsutras and bridal jewellery, serving a broad client base that spans both corporate and unorganised retailers. The company is now making a deliberate shift towards organised corporate clients.

• This strategic pivot offers the benefit of better payment cycles and higher margins through its refined sales model.
• Shringar has also significantly expanded its production capacity to effectively meet rising market demand.

Each of these companies employs distinct, yet equally effective, strategies to capitalise on India’s evolving jewellery market. Their individual approaches — from advanced manufacturing to lab-grown diamonds and a focus on organised retail — collectively underscore the broader industry trend towards formalisation.