Agni CZ Gold Jewels the largest available Jewellery brand enters its 8th anniversary year with a bang
Launched in 2004, Agni CZ Gold Jewels celebrated its 8th Anniversary year by announcing the launch of inimitable anniversary jewellery creation in a grand way. The new jewellery has a range of Rings, Earrings, Nose pins, Pendant sets and Necklaces. Agni Launched "Chain Necklace Sets" and "Agni Bachpan creation with Bracelets and Kada's" sets for the first time.
Mr. Ramesh Shoor, Director, Agni CZ Gold Jewels proudly said, "Agni has emerged as the leader in availability and has always offered splendid designs and top jewellery brand quality with certification. The brand is set to grow and reach greater heights in this New Year. We are also launching a unique and elegant collection on the eve of Agni's 8th Anniversary. With the gold prices soaring high and becoming unaffordable for a common man, Agni CZ Gold Jewellery range starts at just Rs. 1,400."
Present on this grand occasion, Mr. Jagdeep Kapoor, CMD, Samsika Marketing Consultants " Being associated with Agni,as it's marketing consultant, right from the launch and positioning it as - Anmol aap hi ki taraha -, I am extremely pleased that our marketing strategies have made Agni, the largest CZ gold jewellery brand in India. The Indian lady consumer , now loves Agni and uses the brand for regular daily wear. It is not only a case of successful brand building , but also of a new category creation"
Agni Brand Ambassador & Bollywood Actresss Amrita Rao feels proud to be associated with this prestigious brand as a showstopper. She expressed how Agni has touched the hearts of women by making their jewellery available at affordable prices with it's classy elegant designs. TV Actress, Reshmi Ghosh and Ex Femina Miss India, Miss Tourism and winner of MTV Get Gorgeous Priyanka Shah also graced the ramp with the new-fangled jewellery collection just adding on to the exquisiteness and raising a toast.
The core highlight of the show was that the jewellery piece selected at the launch by Brand Ambassador Amrita Rao was auctioned and the amount raised was donated to a charity for a good cause. Pratham is the largest nongovernmental organization working to provide quality education to the under privileged children of India.
Source: http://www.indiaprwire.com/pressrelease/other/20120118109454.htm
SONI ARTS : DO U LIKE GOLD ?
24 January 2012
Gold Loan Business
Ashok Vishwakarma, a government employee in Dhar, Madhya Pradesh, needed Rs 25,000 for an emergency at home. Banks would have asked for a variety of documents, so he rushed to a Muthoot Finance branch. He kept some gold jewellery as security and took home Rs 25,000 in 15 minutes. “I didn’t want to run after banks for a personal loan,’’ the 52-year-old says. On January 5, he repaid the principal to take back the jewellery.
Vishwakarma joined millions who over the last couple of years, across metros as well as small towns such as Tiruchy in Tamil Nadu and Jabalpur in Madhya Pradesh, have resorted to “gold loan”, ensuring non-banking finance companies do a roaring business.
Thrissur-headquartered Manappuram Finance that set its foot in Madhya Pradesh two years ago now has 73 branches with a turnover of Rs 150 crore. Kochi-based Muthoot Finance has over 50 branches with a Rs 250-crore business.
Industry studies reveal that between 2002-10, the gold loan business posted a compounded annual growth rate of 35-40 per cent. On the back of a sizzling 36 per cent jump in gold prices, the business boomed last year and is estimated to have doubled in size to Rs 75,000 crore in 2011.
However, even this may be off the mark. “The exact growth rate and total business could not be assessed due to the involvement of local moneylenders and unlicensed firms, which are lending gold loans at three times higher rate than the organised sector,” V P Nandakumar, Chairman of Manappuram Finance, said.
People in urgent need of money prefer to tap non-banking finance companies like Muthoot and Manappuram who turn out loans in double quick time with little or no paperwork. The sustained rally in gold prices has only fuelled this risky but convenient method of minimal documentation.
The average size of gold loans with Muthoot, Manappuram and other NBFCs in rural areas and tier-2 and tier-3 towns is about Rs 10,000 to Rs 20,000. People are taking loans against gold to pay hospital bills, bear wedding expenses and education bills.
Even private sector banks have started cashing in. “Our gold loan business has doubled in the last 12 months. We have already become number one among private sector banks,” said an official of HDFC Bank, refusing to give details.
While commercial banks and NBFCs (mainly two Muthoot companies and Manappuram) control approximately 58 per cent and 32 per cent of the market share respectively, the remaining 10 per cent is held by small cooperative banks and others. Indian Overseas Bank and Indian Bank are leaders among the public sector banks.
Loans are instantly approved, with companies charging between 12 and 24 per cent interest and offering a maximum loan of Rs 2,450 per gram on 24-carat gold and a maximum of Rs 2,055 for 22-carat jewellery. “Loan in 5 minutes,” says the website of Muthoot Finance, India’s largest gold loan company with over 3,000 branches at a time when borrowers who approach banks have to wait several days to get loans sanctioned after submitting several documents.
In Kerala, Muthoot Fincorp, another leading NBFC run by another branch of the Muthoot family, doesn’t even ask you to fill out an application form. Anyone walking into the outlet with a copy of their voter’s ID card can pledge the gold and walk away with the loan within an hour.
“Gold has a lot of sentimental and emotional value. We don’t rush to auction it in case of default and give the customers the maximum period of 18 months,” says Muthoot’s Dhar branch manager M P Sharma, who retired from a public sector bank.
In 2011, Indians — known to traditionally accumulate gold — imported nearly 1,000 tonnes of the metal, which today has a market value of Rs 2,80,000 crore. The unprecedented gold rally over the past two years — up 63 per cent — has catapulted the total value of India’s gold holding — estimated at around 18,000 tonnes by the World Gold Council (WGC) — to around Rs 50,00,000 crore ($1 trillion). This is around 90 per cent of India’s total market capitalisation of all listed shares on the stock exchanges, making India’s gold market almost as big as the stock market.
WGC says that gold demand in India is expected to grow by over 30 per cent in real terms during the next decade, driven by rapid GDP growth, urbanisation, the emergence of a strong middle class and a sustained and potentially rising savings rate of 30-40 per cent of income.
The improving finances of firms in the “gold loan” business, therefore, is no surprise. Muthoot Finance’s assets under management (AUM) stood at Rs 15,870 crore on March 31, 2011, up from Rs 1,450 crore in March 31, 2007 — 11 times in four years.
In two years, the gold loan business of Manappuram Finance has shot up 1,500 per cent. Its AUM stood at Rs 6,370 crore during the year ended March 2011 against Rs 400 crore in March 2009. “Our income from services increased at a compounded annual growth rate (CAGR) of 146.34 per cent from the fiscal year ended March 2008 to the fiscal year ended March 2011. In this same period, the value of loans advanced by us against pledged gold increased at a CAGR of 302.20 per cent. Our number of branches grew from 644 in 14 states and Union territories as of March 2009 to 2,192 branches in 22 states and Union territories as of May 2011,” says the offer document of Manappuram Finance to float non-convertible debentures.
Muthoot Finance’s network has expanded from 373 branches on March 31, 2005, to 3,274 branches on September 30, 2011, comprising 589 branches in northern India, 2,114 branches in southern India, 422 branches in western India and 149 branches in eastern India covering 20 states, the national capital territory of Delhi and four Union territories.
source: http://www.expressindia.com/latest-news/Lining-up-to-pawn-the-family-gold/903093/
Vishwakarma joined millions who over the last couple of years, across metros as well as small towns such as Tiruchy in Tamil Nadu and Jabalpur in Madhya Pradesh, have resorted to “gold loan”, ensuring non-banking finance companies do a roaring business.
Thrissur-headquartered Manappuram Finance that set its foot in Madhya Pradesh two years ago now has 73 branches with a turnover of Rs 150 crore. Kochi-based Muthoot Finance has over 50 branches with a Rs 250-crore business.
Industry studies reveal that between 2002-10, the gold loan business posted a compounded annual growth rate of 35-40 per cent. On the back of a sizzling 36 per cent jump in gold prices, the business boomed last year and is estimated to have doubled in size to Rs 75,000 crore in 2011.
However, even this may be off the mark. “The exact growth rate and total business could not be assessed due to the involvement of local moneylenders and unlicensed firms, which are lending gold loans at three times higher rate than the organised sector,” V P Nandakumar, Chairman of Manappuram Finance, said.
People in urgent need of money prefer to tap non-banking finance companies like Muthoot and Manappuram who turn out loans in double quick time with little or no paperwork. The sustained rally in gold prices has only fuelled this risky but convenient method of minimal documentation.
The average size of gold loans with Muthoot, Manappuram and other NBFCs in rural areas and tier-2 and tier-3 towns is about Rs 10,000 to Rs 20,000. People are taking loans against gold to pay hospital bills, bear wedding expenses and education bills.
Even private sector banks have started cashing in. “Our gold loan business has doubled in the last 12 months. We have already become number one among private sector banks,” said an official of HDFC Bank, refusing to give details.
While commercial banks and NBFCs (mainly two Muthoot companies and Manappuram) control approximately 58 per cent and 32 per cent of the market share respectively, the remaining 10 per cent is held by small cooperative banks and others. Indian Overseas Bank and Indian Bank are leaders among the public sector banks.
Loans are instantly approved, with companies charging between 12 and 24 per cent interest and offering a maximum loan of Rs 2,450 per gram on 24-carat gold and a maximum of Rs 2,055 for 22-carat jewellery. “Loan in 5 minutes,” says the website of Muthoot Finance, India’s largest gold loan company with over 3,000 branches at a time when borrowers who approach banks have to wait several days to get loans sanctioned after submitting several documents.
In Kerala, Muthoot Fincorp, another leading NBFC run by another branch of the Muthoot family, doesn’t even ask you to fill out an application form. Anyone walking into the outlet with a copy of their voter’s ID card can pledge the gold and walk away with the loan within an hour.
“Gold has a lot of sentimental and emotional value. We don’t rush to auction it in case of default and give the customers the maximum period of 18 months,” says Muthoot’s Dhar branch manager M P Sharma, who retired from a public sector bank.
In 2011, Indians — known to traditionally accumulate gold — imported nearly 1,000 tonnes of the metal, which today has a market value of Rs 2,80,000 crore. The unprecedented gold rally over the past two years — up 63 per cent — has catapulted the total value of India’s gold holding — estimated at around 18,000 tonnes by the World Gold Council (WGC) — to around Rs 50,00,000 crore ($1 trillion). This is around 90 per cent of India’s total market capitalisation of all listed shares on the stock exchanges, making India’s gold market almost as big as the stock market.
WGC says that gold demand in India is expected to grow by over 30 per cent in real terms during the next decade, driven by rapid GDP growth, urbanisation, the emergence of a strong middle class and a sustained and potentially rising savings rate of 30-40 per cent of income.
The improving finances of firms in the “gold loan” business, therefore, is no surprise. Muthoot Finance’s assets under management (AUM) stood at Rs 15,870 crore on March 31, 2011, up from Rs 1,450 crore in March 31, 2007 — 11 times in four years.
In two years, the gold loan business of Manappuram Finance has shot up 1,500 per cent. Its AUM stood at Rs 6,370 crore during the year ended March 2011 against Rs 400 crore in March 2009. “Our income from services increased at a compounded annual growth rate (CAGR) of 146.34 per cent from the fiscal year ended March 2008 to the fiscal year ended March 2011. In this same period, the value of loans advanced by us against pledged gold increased at a CAGR of 302.20 per cent. Our number of branches grew from 644 in 14 states and Union territories as of March 2009 to 2,192 branches in 22 states and Union territories as of May 2011,” says the offer document of Manappuram Finance to float non-convertible debentures.
Muthoot Finance’s network has expanded from 373 branches on March 31, 2005, to 3,274 branches on September 30, 2011, comprising 589 branches in northern India, 2,114 branches in southern India, 422 branches in western India and 149 branches in eastern India covering 20 states, the national capital territory of Delhi and four Union territories.
source: http://www.expressindia.com/latest-news/Lining-up-to-pawn-the-family-gold/903093/
Hong Kong Int'l Jewellery Show 2012 16-20 Feb.
Hong Kong Int'l Jewellery Show 2012 16-20 Feb.
Poonam Soni who pioneered bespoke precious jewellery more than two decades ago now presents a platform to launch and promote new talents in the world of jewellery from across India. Poonam presents a Jewellery show called "Jewels Eleven" which will be a showcase the designer jewels that are unusual, one of a kind designs and are not available at any other store across world. "Jewels Eleven" also presents established jewellery labels from outside Mumbai.
The first "Jewels Eleven" showing was hosted by Poonam Soni with Priyanka Thakur, at the Poonam Soni Signature Line Store at Raj Mahal Building, Altamount Road, Mumbai from 18th to 20th January 2012.The Participants in "Jewels Eleven" included Indian designers like Dipti & Amisha, Eekani Jewels, Devika from B N Jewels, Kriti Soni who unveiled their distinctive one of a kind jewels, showcasing an array of styles from Moghul with Vilandi to modern silhouettes with a traditional twist. Guests loved Kriti Soni's one of a kind pieces that fused wood with semi precious stones.
The highlight of the jewellery show is the Unveiling of Kriti Soni's first collection titled “Plumed". Which includes statement pieces in necklaces.
The jewellery show met with tremendous success as guests enjoyed browzing through a wide variety of designs and styles of jewellery and then selecting a piece that was just right for them. There were droves of women walking into the store over three days, making the firs "Jewels Eleven" show a super duper hit!!
Seen visiting the "Jewels Eleven" jewellery show over three days were Nawaz Singhania (who made a rare appearance only to congratulate Kriti), Deepika Gehani, Mona Narang, Roopa Fabiani, Rashmi Uday Singh, Lata Patel, Debbie Hitkari, Shibani Suri, Jumana Lokhandwala, Divya Palat,Kalpana Shah and Malti Jain amongst many other discerning, jewellery loving women of Mumbai.
"This show brought together a collection of Indian designers and jewellery labels - each one with a distinct style & usp of their own to create a unique shopping experience. Every piece of jewellery is selected to create a varied collection from semi precious baubles to serious Columbian emeralds and fancy shaped & coloured diamonds", says Poonam
The highlight of the jewellery exhibition is the Unveiling of Kriti Soni's first collection titled “Plumed". Which includes statement pieces in necklaces and bracelets. Mounted and handcrafted with coloured stones –Kriti’s collection is inspired by plumage feathers. It is flamboyant, colourful with designs that would make heads turn anywhere in the world
The other Indian designers & brands include Dipti & Amisha, Eekani, Devika from B N Jewels and many more.
source: http://www.boldsky.com/cosmopolitan/cosmo-life/2012/jewellery-show-indian-designers-230112.html
Buying Gold for Indian Weddings
With gold jewellery woven into the culture, tradition and different religions of India, Indian households are pulling out all the stops and splashing big money on the precious metal this wedding season.
"Indians prefer to get married in winter to avoid the monsoon rains and summer heat. Typically, the wedding season runs from November to February and though Gold Prices are ruling at their peak at this time of the year, the average consumption per household has clearly gone up twice over,'' says Mahesh Zaveri, gold jewelry retailer.
Traders say brides are Buying Gold this season in greater quantity and even relatives are offering gold bridal sets as gifts for the trousseau. "Most households start saving for a marriage years in advance, so a small dip or rise in the price of gold will not upset demand,'' said bullion businessman Motabhai Kainan.
He added that spot gold rates had marginally slipped in major cities in India on Friday, even as the wedding season entered its final fray. In Mumbai, rates were down $6.95 per ten gram at $551.62, while in the Jaipur market, pure gold was down $4.95 at $548.61 per 10 gram. In the Delhi market, pure gold was down by $1.98, while in Chennai it slid by $2.57 and in Ahmedabad by $3.07.
With the country hosting 10 million marriages every year, traders said almost 70% of gold jewelry is sold in India during the wedding and festival season. One estimate has it that gold and jewelry make up 50% of total Indian marriage expenses.
"It is traditional and an ingrained custom of giving gold at weddings. Soon after children are born, families start saving by buying up small quantities of gold, especially to be given away to the bride which would become her exclusive property. Sometime, gold bars and not just gold jewelry are also given away to the family of the groom as a kind of insurance and benevolence,'' said Kainan.
He added that most marriages were incomplete without a significant investment in gold. "At the time of marriages, gold is actually worshipped before being put on the couple,'' he said.
Traders say that on average at least 30 grams to 40 grams of gold is consumed in every marriage across the country. In richer households though, this easily shoots up to several kilos of gold, especially to be displayed at the time of a wedding.
Incidentally, it is not necessary that the biggest gold jewelry piece is worn by the bride or members of the bride's household, those attending the wedding often try to outshine the bride by decking themselves in the finest new style.
"Everyone wants to look better than the other. It is a crazy set up during marriages, when one buys gold sets (which include earrings, bangles, toe rings and necklaces) running into beyond $5000. This could triple with the richer houses. Then there are gifts of gold. Richer households even serve welcome drinks with 18 carat gold leaf trimmings,'' said Preeti Aluwalia, wedding planner and jewelry designer.
She added that tons of gold jewelry is displayed at parties that precede weddings, sometimes which run on for an entire week. "In smaller towns too, people are continuing with their wedding purchases and gold continues to be an integral part,'' she added. Aluwalia was referring to smaller towns in Raipur, Kolkata, Bilaspur and Gondia.
Traders added that sentiment in gold would remain firm on rising demand from retailers, despite the price of the yellow metal increasing in the overseas markets. Gold price peaked on January 17, at $1667 per ounce, more than 9.4% above the five month low touched in late December.
According to a report by Macquarie, the Australian investment bank, Indians own gold worth nearly $1 trillion. Despite Gold Prices rising 64% in Rupee terms between January 2010 and September 2011, gold consumption in India has remained relatively robust in volume terms, up 5% year on year up to September 2011.
However, a weak Rupee, combined with Gold Prices that hit a record $580 for 10 grams on November 15, dampened demand during the festive season. Over the last 12 months, the plunge in the Indian Rupee's forex value has made the price of gold jump 10% higher.
Economists predict that with a hike in the per capita income, the average consumption of gold during weddings is set to nearly double in the next five years.
Source: MineWeb's Shivom Seth in Mumbai.. http://goldnews.bullionvault.com/buying_gold_012320123
"Indians prefer to get married in winter to avoid the monsoon rains and summer heat. Typically, the wedding season runs from November to February and though Gold Prices are ruling at their peak at this time of the year, the average consumption per household has clearly gone up twice over,'' says Mahesh Zaveri, gold jewelry retailer.
Traders say brides are Buying Gold this season in greater quantity and even relatives are offering gold bridal sets as gifts for the trousseau. "Most households start saving for a marriage years in advance, so a small dip or rise in the price of gold will not upset demand,'' said bullion businessman Motabhai Kainan.
He added that spot gold rates had marginally slipped in major cities in India on Friday, even as the wedding season entered its final fray. In Mumbai, rates were down $6.95 per ten gram at $551.62, while in the Jaipur market, pure gold was down $4.95 at $548.61 per 10 gram. In the Delhi market, pure gold was down by $1.98, while in Chennai it slid by $2.57 and in Ahmedabad by $3.07.
With the country hosting 10 million marriages every year, traders said almost 70% of gold jewelry is sold in India during the wedding and festival season. One estimate has it that gold and jewelry make up 50% of total Indian marriage expenses.
"It is traditional and an ingrained custom of giving gold at weddings. Soon after children are born, families start saving by buying up small quantities of gold, especially to be given away to the bride which would become her exclusive property. Sometime, gold bars and not just gold jewelry are also given away to the family of the groom as a kind of insurance and benevolence,'' said Kainan.
He added that most marriages were incomplete without a significant investment in gold. "At the time of marriages, gold is actually worshipped before being put on the couple,'' he said.
Traders say that on average at least 30 grams to 40 grams of gold is consumed in every marriage across the country. In richer households though, this easily shoots up to several kilos of gold, especially to be displayed at the time of a wedding.
Incidentally, it is not necessary that the biggest gold jewelry piece is worn by the bride or members of the bride's household, those attending the wedding often try to outshine the bride by decking themselves in the finest new style.
"Everyone wants to look better than the other. It is a crazy set up during marriages, when one buys gold sets (which include earrings, bangles, toe rings and necklaces) running into beyond $5000. This could triple with the richer houses. Then there are gifts of gold. Richer households even serve welcome drinks with 18 carat gold leaf trimmings,'' said Preeti Aluwalia, wedding planner and jewelry designer.
She added that tons of gold jewelry is displayed at parties that precede weddings, sometimes which run on for an entire week. "In smaller towns too, people are continuing with their wedding purchases and gold continues to be an integral part,'' she added. Aluwalia was referring to smaller towns in Raipur, Kolkata, Bilaspur and Gondia.
Traders added that sentiment in gold would remain firm on rising demand from retailers, despite the price of the yellow metal increasing in the overseas markets. Gold price peaked on January 17, at $1667 per ounce, more than 9.4% above the five month low touched in late December.
According to a report by Macquarie, the Australian investment bank, Indians own gold worth nearly $1 trillion. Despite Gold Prices rising 64% in Rupee terms between January 2010 and September 2011, gold consumption in India has remained relatively robust in volume terms, up 5% year on year up to September 2011.
However, a weak Rupee, combined with Gold Prices that hit a record $580 for 10 grams on November 15, dampened demand during the festive season. Over the last 12 months, the plunge in the Indian Rupee's forex value has made the price of gold jump 10% higher.
Economists predict that with a hike in the per capita income, the average consumption of gold during weddings is set to nearly double in the next five years.
Source: MineWeb's Shivom Seth in Mumbai.. http://goldnews.bullionvault.com/buying_gold_012320123
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