India Business News: Young urban grooms in India are increasingly choosing platinum jewellery over gold, providing relief to the bride's family amidst rising gold prices.
Young urban grooms in India are increasingly opting for platinum jewellery, such as chains, bracelets, and earrings, as an alternative to gold amid rising gold prices. Platinum is currently trading around ₹25,000 per 10 grams, compared to gold prices exceeding ₹61,000 per 10 grams. The trend is providing some relief to the bride s family, which traditionally gifts jewellery to the groom during weddings.
Jewellery brands are scrambling to get new celebrity endorsements, both at the national and regional level, sparking a spike in celebrity fees and stringent terms and conditions. But the demand is skewed in favour of glamour icons.
A senior executive of a prominent jewellery brand, asking not to be identified, said the asking price of big stars is roughly around ₹8 crore a day. "It s becoming unviable for the business. Even at this hefty price, they are reluctant to give more than three days in a year to the brand they are endorsing, won t change costumes more than two times on the day of shooting, and won t work more than eight hours on that day including traffic time."
A senior executive of a prominent jewellery brand, asking not to be identified, said the asking price of big stars is roughly around ₹8 crore a day. "It s becoming unviable for the business. Even at this hefty price, they are reluctant to give more than three days in a year to the brand they are endorsing, won t change costumes more than two times on the day of shooting, and won t work more than eight hours on that day including traffic time."