Mumbai: “Ugadi” is a significant Hindu festival that marks the beginning of a new year, and it has its roots in the ancient Sanskrit language. The word “Ugadi” is derived from the combination of two Sanskrit words, “yuga” and “adi,” which symbolize the start of a new era. The festival is celebrated with immense joy and devotion, primarily in the southern states of India including Andhra Pradesh, Telangana and Karnataka.
Ugadi, the festival of new beginnings, calls for a gift that’s as precious and timeless as the occasion itself. And what could be better than the gift of pure and precious platinum? This rare and valuable metal has its origins in the stars and is renowned for its ability to withstand daily wear and tear without losing its luster or shape.
With a purity level of 95%, its durability and versatility, platinum jewellery is an ideal choice for those looking to purchase or gift jewellery on the occasion of Ugadi. These very attributes make platinum a symbol of enduring love and commitment. Whether it’s a pendant, a ring, or a bracelet, the gift of platinum is sure to leave a lasting impression on your loved ones.
Commenting on this auspicious occasion, Vaishali Banerjee, Managing Director, Platinum Guild International-India said, “Festivals in India bring a renewed sense of energy and spirit to consumers, who celebrate with great enthusiasm and excitement. These occasions mark new beginnings and positivity, with consumers increasingly looking for meaningful purchases to commemorate the occasion. We have seen a significant uptick in demand for platinum jewellery during these festivities. The upcoming festivities offer a positive outlook for sales, setting the stage for a great footfall in the next quarter for our retail partners.”
Paul J Alukkas, Managing Director, Joyalukkas, “Ugadi holds a symbolic significance as a festival of new beginnings and a harbinger of prosperity. It is viewed as an auspicious occasion to purchase gifts for the family and loved ones. We have seen that platinum makes for an ideal gift to commemorate this festival, especially among younger consumers. We are optimistic that Ugadi will create a positive momentum that will carry forward through the festive season.”
Joy Alukkas, Managing Director, Joyalukkas India Ltd, “Ugadi marks the onset of a new year and envelopes the country in a warm festive embrace. We foresee a positive consumer outlook for platinum jewellery it makes an ideal choice to celebrate this auspicious festival symbolising prosperity”.
Rajesh Kalyanaraman Executive Director of Kalyan Jewellers, “As we welcome the new year with a positive outlook and the festive spirit of Ugadi, we are witnessing a positive buying sentiment for platinum jewellery. The increase in footfall across stores is expected to translate to a significant rise in sales volume. We are optimistic about the upcoming festive season and expect to begin this new year on a high note.”
Dr. B Govindan , Chairman, Bhima Jewellery, “We are confident that Ugadi will be a fruitful occasion for us as we are witnessing heightened interest from consumers for various platinum jewellery pieces such as neckwear, bracelets and rings. Enthused with this response we are expecting the demand momentum to continue.”
G.R. ‘Anand’ Ananthapadmanabhan, Managing Director, GRT Jewellers, “Ugadi marks the beginning of a new year and offers an opportunity for a fresh start. There is a strong sense of positivity felt among our consumers as they get ready to celebrate this festival with much fervour and excitement. We anticipate strong demand for platinum jewellery to mark this important festival. We continue to see a growing preference for trendy, daily wear, platinum jewellery driven by the younger segment and expect this trend to accelerate through the season.”
G. R. Radhakrishnan, Managing Director, GRT Jewellers, “Ugadi marks the beginning of a new year in Andhra Pradesh, Telangana & Karnataka and is celebrated with huge fanfare. Being a festival of prosperity and abundance, people prefer buying jewellery for self-purchase as well as gifting.”