BlackBook — India's Luxury Insider - November 2014

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Our fascination with rare metals and gemstones has continued over centuries. Gold is inseparable from wedding celebrations and is favoured as an investment even in the humblest of households. Despite strict regulations, we've scarcely curbed our insatiable appetite for the yellow metal. Our jewellery marketplace is dominated by the unorganised sector, but souks and by-appointment only salons have sprung up to cater to contemporary royalty. We’re being wooed with certificates of guarantees, glimpses of celebrities on catwalks adorned in precious jewels and a promise of an exclusive, one-of-a-kind piece that will make heads turn. Needless to say, this strategy is working. One of India’s biggest success stories has been Amrapali, a brand with an Indian soul. Barely four decades old, it is already sought after on the international fashion circuit. But they do not need to look far beyond India’s shores. Tarang Arora, Amrapali’s CEO and Creative Director, has witnessed the Indian market grow in the past decade, and it accounts for nearly 70 per cent of sales now, a steep rise from a figure of 40 per cent. Describing the brand as ‘accessible luxury,’ Amrapali's next step is to expand their e-commerce business, which reaches out to the furthest parts of the country. With fashion jewellery already available online, it is just a matter of time when more fine jewellery specialists log on. In a marketplace defined by goodwill and trust, it will be interesting to see how the virtual world supports an extremely personalised, high-value marketplace.