By TradeIndia Team in General — 21 Dec 2022

Best Costume Jewelry Markets of India

Since the dawn of Indian civilization, we have been fascinated with jewelry. Jewellery is often seen as the final touch for an ensemble. Many individuals think a style is finished by adding the right accessories. Jewelry has played a crucial role in human life for thousands of years. According to history, ancient cultures treasured jewellery and used it to highlight the natural beauty of the wearers. Different accouterments were worn to signify diverse ideas, such as wealth, security, sophistication, and elegance. Women like donning jewellery as a statement of femininity or to express social status. Jewellery has the ability to increase a woman's sense of attractiveness and self-worth. Traditional jewellery requires the use of precious metals like Gold, and platinum along with various kinds of stones such as ruby, diamond, pearl, sapphire, etc. However, the problem with them is the high price and thus their affordability.

About Custom Jewelry

As an alternative to precious metal jewelry, which is expensive and often viewed as collectibles, keepsakes, or investments, costume or fashion jewelry refers to a variety of inexpensive ornamental things worn for individual use to match a specific stylish ensemble. Costume jewelry usually referred to as fashion jewelry, has always mirrored the designs of its more expensive fine counterparts. It is also referred to as artificial jewelry or imitation jewelry. The early 20th century is when the phrase costume jewelry first appeared. Costume or fashion jewelry was first created by setting cheap imitation gemstones like rhinestones, nickel, pewter, or silver. Rhinestones were even downgraded by some producers during the depression to lower production costs. Sterling silver was frequently used in costume jewelry creations during World War II because base metal components were prohibited from usage in the commercial sector because they were required for military production during times of war. Also, because base metal could resemble platinum's colour, it was initially popular and sterling silver served the same purpose. As a result, sterling silver costume jewelry was made for a number of years; some of it is still available in the vintage jewelry market today.

About Costume Jewelry Manufacturers

Costume jewelry manufacturers can be found all over the world, but there is a concentration in especially in China and India, where the trade of these commodities dominates entire cities' and regions' economies. Traders in the US and other nations buy fashion jewelry from producers as part of the supply chain. At trade exhibitions, wholesalers of costume jewelry typically look for new suppliers. The trade-show concept has altered as the role of the Internet in global trade has grown. Nowadays, there are several wholesalers with websites on the Internet from which retailers can choose. The wholesalers buy from foreign suppliers who are also accessible on the Internet from many countries, such as Chinese, Korean, Indonesian, Thai, and Indian jewelry enterprises, with their broad selection of goods in bulk. Some of these websites also cater to consumers directly, allowing them to buy costume jewelry at incredibly low costs. Fashion jewelry is categorized individually on some of these websites, while costume jewelry is replaced with this phrase on others. There is a growing trend amongst entrepreneurs to buy imitation jewelry from the wholesale market and then selling it at a premium to retailers. Also, the Internet has opened up a huge marketplace for costume jewelry dealers to display their wares for interested customers. They accept digital payments such as credit cards, debit cards, online bank transfers, etc thus making it easier for their clients to choose and pay. All these websites even offer exchange or return of these wares in case the client is dissatisfied.

Wedding Costume Jewelry

According to 2011 research, the surge in gold prices has resulted in an increase in demand for fake or copycat jewelry of 85%. As of 2019, the imitation jewelry or costume jewelry market is valued at $32.9 billion and is expected to grow to $59.7 billion market by the year 2027. In India too, the costume jewelry market is valued at approximately 8000 crores, in which the online trade alone contributes to about 2% of the sales volume. In fact, wedding costume jewelry has become one of the major mainstays of our big fat Indian marriage. The bride can adorn herself with costume jewelry of her choice, to look resplendent and more beautiful for her special day.

Costume jewelry market in India is rapidly expanding. Imitation jewelry does not need an occasion to adorned. Costume jewelry shops can be found across the entire country, offering a selection of beautiful artificial jewelry items to cater to every section of society. However, there are many markets in India that are renowned for costume jewelry alone. Let us look at a few of these big markets across different states of India.

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1. SarojIni Nagar, Delhi:

Girls from all across India, including those in Delhi, like this market since it is the most well-liked place for street shopping. Recognized for its absurdly cheap costs, Sarojini Nagar is renowned for everything. Speaking of jewelry, Sarojini Nagar has all the costume jewelry you could possibly want. In Sarojini Nagar, you can get any kind of fashion jewelry, whether it's for a huge, lavish wedding or a party. On Mondays, the market is solely closed. SarojIni Nagar market operates from 11 a.m. to 7.30 p.m.

2. Commercial Street, Bangalore:

Located in the heart of the Indian Silicon valley, Commercial street is the go-to destination for all your costume jewelry requirements. This market is located close to Shivaji Nagar and is also very close to M.G. Road. This market has a lot of costume jewelry dealers, offering a plethora of fashionable accessories. From nose pins to bangles, to wristbands, whatever imitation jewelry you desire, you will get it here.

3. Begum Bazaar, Hyderabad:

Hyderabad's Begum Bazaar is a very old bazaar. It is also among Hyderabad's busiest business areas. Retailers and jewelry enthusiasts from all over India are drawn to Begum Bazaar by the promise of high quality at very low costs. In Begum Bazaar, there are over a hundred stores that offer costume jewelry at discount rates. The jewelry from Begum Bazaar is the greatest choice for large purchasers who want to start their own little jewelry company since it may be sold for a significant profit when resold.

4. Patna Market, Patna:

Patna Market is located on the Ashok Rajpath in the heart of old Patna. There is a vibe of the Chandni Chowk market here. There are many dealers and sellers of impeccably crafted costume jewelry. Along with that, there is a thriving clothes market here, serving every gender and age.

5. Esplanade, Kolkata:

The best location in Kolkata for street shopping is Esplanade. The New Market, one of Kolkata's top marketplaces, fiercely competes with the air-conditioned, contemporary malls. Even now, many people still choose this street market to upscale shopping centers. It is regarded as Kolkata's top market. There are many costume jewelry shops here with a wide range of collections.

6. Kabootar Khana, Mumbai:

For all your fashion jewelry needs in Mumbai, this is the place you want to visit. Decked with many dealers and shops, this market offers a variety of costume jewelry at a discounted rate. There are many famous wholesale shops here such as Vee Kay Jain, and Riddhi Art that house intricately created jewelry for your needs. Every piece of jewelry sold in the city comes with a guarantee of excellent value and quality. Mumbai is a sizable city with several famous establishments providing a variety of goods at distinct opening and closing times.

7. Pondy Bazaar, Chennai:

Soundarapandianar Angadi is another name for Pondy Bazaar. It is included in the list of the top retail areas in Chennai. Many stores at Pondy Bazaar offer fashion jewelry, which includes anything from rings and necklaces to bracelets and bangles. The fashion jewelry is often referred to as "gold-covered" jewelry there. These stores provide both wholesale and retail sales. Therefore, you should visit Pondy Bazaar if you want to conduct some buying for your next major occasion.

Conclusion:

The Indian costume jewelry market is thriving, and is on an upsurge after the Covid pandemic. All the markets mentioned above offer an extensive range of eye-pleasing fashion jewelry at affordable prices. As a buyer, one must visit various shops in these bazaars before selecting their products and always be on the lookout for a good bargain.

FAQs: Costume Jewelry

Q. Which is the best shop for buying costume jewelry in Mumbai?

Ans: You can visit Kabootar Khana market in Mumbai to explore all the best shops for your fashion needs. Prominent dealers are Riddhi, Aum Beads and Vee Kay Jain.

Q. How can I be assured of the quality of costume jewelry from these wholesale markets?

Ans: It is always advisable to visit prominent dealers in these markets. They source their wares from the best places and offer a wider range of products to choose from.