Preference for jewellery remains despite the price fluctuations | business | Hindustan Times
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Preference for jewellery remains despite the price fluctuations

business Updated: Nov 04, 2012 23:11 IST
HT Correspondent

MMTC has been in the bullion trade for many years and over the years has transformed itself into one of the largest bullion importers in the subcontinent.

As part of its commitment to bullion industry, MMTC hosts the Festival of Gold exhibition.

Ved Prakash, director (marketing- precious metals) spoke to Hindustan Times on a range of issues. Excerpts:

What are the special features for this year's Festival of Gold?
MMTC's golden jubilee year is commencing with our flagship event- The Festival of Gold - at Hotel Ashok for a period of 10 days from November 2 to November 11. Major festivals like Karva Chauth, Dhanteras followed by Diwali provide the customers an opportunity to source jewellery and value added bullion products from across India under a single roof. The exhibition will have assayed and hallmarked gold jewellery, both ethnic and contemporary from 10 states. All diamond jewellery is certified by International Gemological Labs, trendy jewellery for the youth to be a part of the festival this year, special festive offers and discounts on maximum retail price on all items along with lucky draws and attractive discounts.

What is MMTC's newest venture going to be in the precious metals segment?
In the golden jubilee year, MMTC will be launching its retail jewellery brand. The jewellery brand will debut during the festival this year. It would comprise designer jewellery in gold, diamond and silver, and also our range of sterling silverware. Already known for its purity, quality and spectacular craftsmanship, MMTC's jewellery brand is being launched to suit the varied preferences from office wear to party wear to traditional occasions with its versatile designs. MMTC is creating new designs of its brand in sync with fast changing market trends with designs that are lightweight, smart, wearable and changeable. This jewellery in 14 and 18 carats, in gold, diamond and silver will be stylish, trendy.

What are the new business opportunities MMTC is tapping in the precious metals sector?
MMTC sees a big opportunity to meet people's demand in the jewellery and bullion sector. We are expanding our footprint in some new terrains like Bhubaneshwar, Goa, and Andhra Pradesh among others. Our retail initiatives include setting up new MMTC jewels showrooms, opening new company outlets where the company has it offices. In the current scenario, the preference for jewellery remains despite the price fluctuations. Genuine customers will continue to buy for the festive and marriage seasons. The Festival of Gold exhibition also offers an opportunity for consumers to buy medallions and coins for savings for the future.

How do you foresee the trend for sales this year as compared to last year?
Indians seem to believe gold investment to be a continuing safe bet. We expect the interest in gold to continue as always as India's golden heritage and fascination with gold itself is an everlasting one. Across ages, cultures, regions, and religions, gold has thus become an intrinsic part of the Indian society and psyche, which makes gold and gold jewellery a prized form of art by itself.