Gold prices have been skyrocketing over the past year, and in the last few days, have climbed to an eye-popping Rs 1.7 lakh per 10 grams. With the yellow metal’s price rising sharply over the past year or so, consumers have also started gravitating towards light-weight, daily-wear and lower-carat jewellery over traditional and heavy designs.
A report by the World Gold Council says listed jewellery retailers in India recorded strong revenue growth between 37% and 51% year-on-year in the December 2025 quarter, buoyed by a price rise of over 15% despite a 24% slump in demand. The major growth drivers during the past year were lower carat jewellery and gold coin sales.
Younger Buyers
As per industry estimates, light-weight and lifestyle-led jewellery segments recorded over 40% sales growth, driven largely by younger buyers. Almost half of all respondents (49%) in a January 2026 Deloitte report said they favoured light-weight, minimalist jewellery over heavy, ornate sets (15%), signalling a growing appetite for repeatable, affordable luxury.
“Our core buyers are aged between 25 and 45 years, but Gen Z participation is growing in lighter, trend-led designs. Customers have shifted toward lighter designs, but gold’s cultural value remains strong,” observes Atul Sinha, chief operating officer, CaratLane. The brand has strengthened its light-weight gold portfolio with a focus on 18 carat and below, and has recently introduced Shaya Diamonds, its natural diamonds set in sterling silver, for those seeking more contemporary styles.
Interestingly, some brands like Mia by Tanishq or GIVA promote many of their designs as self-gifting pieces to erase the stigma often associated with “indulgence” in India.
For some brands such as Kalyan Jewellers and Jos Alukkas, that focus largely on festive and wedding jewellery in their communication, the demand for sleeker designs has led to a more lifestyle focussed pivot. Says Varghese Alukkas, managing director, Jos Alukkas, “Light-weight everyday jewellery has started contributing significantly to overall sales. This segment has consistently outperformed the rest in recent months.”
Tier-I markets have been major growth contributors, driven by working professionals and young consumers seeking easy-to-style pieces. Tier-II and III markets are also showing strong traction as aspiration-driven buyers look for affordable entry points to gold ownership.
Weighty matters
India’s jewellery market was estimated at 8.7 lakh crore in 2025, and is projected to reach 13.9 lakh crore by 2034, growing at 5.3% annually. Gold holds the largest share — almost 80%. Heavy jewellery dominates the category with over 70% share. Naturally, major retail players such as Tanishq, Kalyan Jewellers and Jos Alukkas continue to focus on heavy-weight traditional pieces.
This presents challenges. “Selling light-weight jewellery from a brand built on traditional heavy-weight jewellery can lead to cannibalisation, and inefficient use of resources. One way to tackle this issue is to build separate independent outlets or brands, that use the association with the parent brand to generate trust but do not lead to cannibalisation of sales,” says Praveen Govindu, partner, Deloitte India. Another way is to designate stores selling heavy pieces as experience zones for light-weight jewellery, while encouraging consumers to buy online. “Given the lower price points, customers show a higher inclination towards buying such jewellery online,” he adds.
Ramesh Kalyanaraman, executive director, Kalyan Jewellers, says its brands like Glo, Ziah and Laya specifically offer contemporary designs. “We have intentionally pivoted towards a more design-led narrative to meet this aspiration. This is most visible in our studded and 18K gold portfolios, the primary engines for everyday wear. Currently, the studded category contributes about 30% of our total revenue,” he points out.
Kalyan’s omnichannel brand Candere has expanded its physical footprint to nearly 100 showrooms. “This brand caters to the lifestyle-centric shopper who seeks global trends with the reassurance of the mother brand,” Kalyanaraman says.
Perception is another major focal point for traditional jewellery brands to push everyday pieces. Many jewellery retailers are crafting marketing campaigns that not only celebrate big occasions like weddings but also reflect different aspects of the consumer’s life such as a promotion or a new job. Kalyan for example recently partnered with the Royal Challengers Bengaluru team during the 2026 season of the Women’s Premier League to showcase its everyday wear range.