India's PNG Jewellers launches lightweight jewellery brand 'Lifestyle' as gold prices surge
P N Gadgil Jewellers
on Tuesday launched
Litestyle
, a new sub-brand for lightweight and lower-carat jewellery, as record
gold prices
push consumers towards more budget-friendly options.
Gold prices have jumped sharply in the past few months, but consumers' budgets haven't risen in the same proportion, leading them to look for budget-friendly options, Saurabh Gadgil, chairman of the Pune-based company, told Reuters.
The
lightweight jewellery
segment is growing rapidly at around 30% per annum, and the company will launch 12 Litestyle stores this year to tap into this segment, Gadgil said.
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Local gold prices, which hit a record high of 101,078 rupees per 10 grams on Monday, have risen 29% so far in 2025, after rising 21% in 2024.
Consumers are slowly adjusting to higher prices, Gadgil said, forecasting a 30% to 35% year-on-year jump in revenue in the fiscal year ending March 2026.
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Investment demand for
gold and silver
has been rising as both metals are yielding better returns than other asset classes, he added.
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