Ever heard of gold jewellery with a hidden microphone or USB drive or a piece of jewellery with embedded therapeutic gem stones? Faced with rising gold and diamond prices and growing competition from lifestyle products such as mobile phones, holidays and cars, the gems and jewellery industry has found novel ways to take on the competition.
Students at the National Institute of Design (NID), Ahmedabad, are working on innovative designs concepts which will add some utility value to luxury jewellery products and help jewellers stay afloat.
Luxury spending in India may have increased five times in last five years, but the share of jewellery has dipped drastically. From being viewed as an investment product, jewellery is now increasingly being pitched against other luxury products thereby requiring innovation.
