JB Insights
PM Modi, Vipul Shah in Rapaport’s “People of the Year” list
Rapaport’s “People of the Year” reflect the broad range of challenges affecting the diamond trade and industry — and some of the solutions.The , inclusion in this list is reflective of his or her influence on the diamond industry and/or presence in the headlines.
It names honourable Prime Minister of India Narendra Modi as the mover and shaker of the diamond world in the year 2023.Prime Minister Narendra Modi had a number of contact points with the jewelry industry in 2023. He inaugurated the Surat Diamond Bourse in December. He also raised a few eyebrows by referring to lab-grown diamonds as “green diamonds.”
It also names GJEPC Chairman Vipul Shah one amongst 6 people in the world to shape the future of the world diamond industry .India needed a voluntary pause in rough-diamond imports to stop inventories from getting out of control. The industry implemented this freeze for two months.it was the GJEPC that brought people together and managed the process following the crunch meeting. Vipul Shah, its chairman, was at the forefront.
JB Insights
From Gold to Experience: How Jewellery Retail Is Evolving into Lifestyle
Anil Jose, Managing Director, TT Devassy Jewellery
Changing consumer preferences are transforming jewellery retail, with experience-led showrooms, everyday wear and personal expression redefining how brands connect with customers
For generations, buying jewellery in India has been entangled with occasions. Weddings, festivals, anniversaries and family milestones have traditionally shaped when and why people purchase jewellery. Gold, in particular, has a unique place in Indian households, representing not just beauty but also security, tradition and long-term value.
That relationship remains strong. What is changing is the role jewellery plays in everyday life. Consumers are increasingly buying jewellery not only to mark an occasion, but also to express their personality, complement an outfit, celebrate a personal achievement or simply enjoy something they connect with.
For jewellery retailers, this represents a significant shift.
Jewellery Showroom as an Experience
The modern jewellery customer journey is becoming more experiential. A customer may discover a design on social media, explore collections online, compare options and then visit a store to experience the product in person. The showroom is therefore no longer simply a place to display products; it has become an important part of the brand experience.
This is also reflected in the expansion of organised jewellery retail in India. As per a research, jewellery’s share of organised retail leasing in India rose from 2% in 2019 to 8% in 2025, making it one of the country’s top three retail demand drivers. At the same time, larger, experience-led formats are gaining ground, with stores exceeding 8,000 sq. ft. accounting for half of jewellery retail leasing in 2025, compared with 14% in 2019.
The implication is simple: a jewellery store can no longer be just a place where products are displayed. It needs to be a place where customers discover, explore and connect with a brand.
From ownership to self-expression
Traditionally, jewellery was often purchased with a long-term perspective. It was an asset, an heirloom and something intended to be passed down through generations.
Those motivations remain important, but a new layer is emerging; personal expression. Younger customers are increasingly drawn to lightweight, versatile and contemporary pieces that can reflect their individual style and be worn across occasions.




Building a jewellery wardrobe
In many ways, jewellery is beginning to develop its own version of a wardrobe. There are traditional pieces for weddings and festivals, minimalist designs for everyday wear and statement pieces for celebrations.
This creates an opportunity for retailers to move beyond individual transactions and become part of more moments in a customer’s life. When jewellery becomes relevant to more occasions, it naturally becomes less occasional and more habitual.
Trust remains timeless
For all the changes in jewellery retail, one factor remains constant, trust.
Transparency in pricing, confidence in quality and dependable after-sales service continue to shape customer relationships. Today, that trust extends to every part of the brand experience, from digital communication to the showroom itself.
Jewellery has always been about more than gold and precious stones. It represents relationships, memories, celebrations and identity. What is changing is how frequently and personally consumers choose to express those emotions through jewellery.
The opportunity for retailers is to evolve from occasion-driven sellers into lifestyle brands; brands that understand how customers live, what they value and how jewellery fits into their everyday stories.
Gold may remain timeless. But the experience surrounding it is becoming the real differentiator.
-
National News17 hours agoDhanteras-Diwali 2026: Strong Footfalls, Value-Led Growth Across India’s Jewellery Trade
-
GlamBuzz18 hours agoSupermodel Tyra Banks Wears Kalyan Jewellers To Diwali Celebration In New York
-
National News18 hours agoGold, Silver Slip As US Inflation Fuels Fed Rate Hike Concerns
-
New Premises19 hours agoPalmonas Expands Its Mumbai Retail Presence With A New Store In Bandra

