“Imitation jewellery market is growing 1 5o 230 percent every year. Even fashion designers are taking it seriously because of the profit margin which could be anywhere between 30 to 40%,” says Karuna Khaitan of Wildorchid.The real reason for the popularity of imitation jewellery is because of the practicality of buying multiple pieces which matches to your outfits.
Spurts in the price of gold jewelelry are another reason for the rising demand of costume jewelelry. Young “women like to buy costume jewellery more than gold jewelelry because it is affordable and suit for mix and match. Availability of well designed beautiful pieces changed the image of costume jewelelry. Earlier women like to buy gold of diamonds and today imitation jewelelry takes it place,” says Vandana Bhargava jewellery designer.
Earlier gold is considered a status symbol. Today women are ready to experiment with fancy costume jewellery. It goes well with all kind of dresses and adds lot to the overall look of the wearer. Due to higher price of gold demand for imitation jewellery has almost doubled in the past one year. Shops in Malls keep exclusive costume jewellery mainly sourced from Rajkot and Rajasthan.
According to J J Valaya today’s women try to ape the jewellery worn by TV stars and film stars. “Lot of changes has taken place in the thinking of women. They no more consider jewelelry as an asset but as a daily wear item which they can match with the dress they wear from time to time. Another reason is price. You can easily afford artificial jewelelry and it is easy make collection for regular as well as formal occasions” Valaya said.
Imitation jewellery is largely made of brass, glass, plastic beads, and artificial stone. They have no resale value like gold. “Manufactures of artificial jewellery churn out new collection every two months. But the sudden inflow of jewellery from China is creating problem. Their products are very cheap when compare to Indian stuff. Government has to do something to minimise the inflow otherwise we will suffer,” said Madhubhai Parekh of Imitation Jewellery Manufactures Association.