New Delhi, Oct 10 The pandemic revolutionised how we shop, everything from cloths to essentials are now purchased online, so much so that even high jewellery is E-tailing.
Hazoorilal Legacy - one of India's oldest and the most reputed luxury jewelry brands since 1950 launched their e-store on the 8th of October. The e-store will include all the collections of bejewelled treats. life caught up with Rohan Narang, Managing Director, Hazoorilal Legacy to get all the details.
Read Excerpts:
Q: After speaking to industry insiders, we believe that the COVID-19 induced recession is unlikely to impact the jewellery sector. Your thoughts?
A: The Covid-19 pandemic has had adverse effects on the economy and as a result the jewellery and luxury markets are certainly affected. Due to the extended lockdown and rising cases there is a drastic shift in consumer behaviour and preferences that are hindering the demand and supply patterns across the jewellery sector. However, gold continues to be a safe haven for investors and demand for the same remains steady. With the advent of the festive and wedding season, the health of the Jewellery sector is expected to improve and should provide much needed respite.
The luxury market altogether has been hit hard by the lockdown but things look promising for the final quarter of 2020. We believe that the jewellery sector will evolve to become one of the fastest recovering industries in this post-Covid world.
Q: With the big fat Indian wedding has been slimmed , jewellery is predicted to be the net beneficiary as people will chose to invest in jewellery instead of what they spent on events. What do you think?
A: This remains to be seen and is a very subjective matter. It's true that most people have had to scale back their wedding budgets. As a result, they have developed a preference for promising investments like gold and diamonds.
Q: What was the reason for your brand going online from offline? Did the pandemic influence the decision, how beneficial do you think it will be?
A: With the launch of Hazoorilal Legacy's E-store, we are solidifying our Omni channel presence in a socially distanced and technology friendly world. The launch of our E-commerce platform will showcase an exclusive, online-only launch drop of our latest diamond jewellery collections which have been specially designed, curated and priced for the customers online. Similar online only collections will be soon available for gold
( With inputs from IANS )
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor