Rakhi Special: Diamond-studded threads of love

Some of the leading jewellery brands in the country have released special edition rakhis and bracelets for Raksha Bandhan made with diamonds and precious stones set in yellow and white gold.

Ever since the sacred thread of rakhi got a bejewelled makeover, the trend has only been on the rise. This year, too, some of the leading jewellery brands in the country released special edition rakhis and bracelets for Raksha Bandhan made with diamonds and precious stones set in yellow and white gold.

Rakhis with diamonds and precious stones.

Rohan Sharma, Managing Director, RK Jewellers, attributes this rise to an increase in demand for men’s jewellery. “Increased purchasing power is another reason. We have always done gold rakhis but this year the demand has doubled from pre-Covid numbers. We sold around 30-32 gold rakhis in 2019 whereas the sales have already crossed 50 in number this year,” says Sharma. In addition to gold ones, they also get orders for diamond rakhis. The most expensive Rakhi in their portfolio this year is a 5.5 carat all-diamond bracelet set in 18 carat white gold, priced at ₹ 8 lakh. Alluding to a niche market, Sharma says they also take customisation options. “We have done more expensive rakhis than this one; we made one priced at ₹ 20 lakh on order in 2014,” he shares.

All-diamond Cuban bracelet rakhi by RK Jewellers.

In keeping with the rising demand, jewellers are innovating with styles. Jammu-based Rakesh Jewellers make unique kada-style bracelets with diamonds that are priced between ₹ 3.5 lakh to ₹ 4 lakh. “We sold 4-5 pieces of the kada this season. We also have gold rakhis ranged between ₹ 40k- ₹ 50k, whereas the most expensive bracelet rakhi we have sold is priced at ₹ 5 lakh,” says owner Sahil Mahajan.

(L) Kada-style rakhi and (R) diamond bracelet rakhi at Rakesh Jewellers.

And if you think precious rakhis only mean bracelets or chunky designs, Hazoorilal Legacy has two contemporary styles with 18 carat diamonds set alongside black onyx stones in adjustable cord bracelets. Priced at ₹ 1.45 lakh and ₹ 1.5 lakh, these bands are a light-weight, yet statement option. “Customer preferences for fine jewellery rakhis seem to have changed to contemporary bracelets with minimal details. These versatile bracelets can be effortlessly worn as an everyday accessory,” says Sonal Narang, designer at the jewellers.

Diamond and onyx rakhis from Hazoorilal Jewellers.

More than expressing a bond of love, these rakhis are also seen as investment. Pawan Gupta of PP Jewellers by Pawan Gupta notes that there are two kinds of buyers for gold and diamond rakhis – one, who only see it as one-time wear fondly reserved for newlywed brothers and bhabhis and second, who go for bracelets that can be worn on other occasions as well. “These are custom-made rakhis that range between ₹ 50,000 to ₹ 5 lakh that have seen a steady increase in popularity,” he says.

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