Gemstones Gaining Popularity Amid Indian Women

Rapaport reported that a survey sponsored by Gemfields plc (LSE:GEM) revealed that nearly 12 percent of respondents had acquired gemstone jewelry in the last year. Survey respondents were Indian women aged 18 to 64.
Dev Shetty, COO at Gemfields, commented:

India has been a key market for Gemfields and will continue to be one of our main focus regions in the coming year. The report provides comprehensive insights and analysis that will help Gemfields build a branding and communication strategy for colored gemstones in the Indian market.

As quoted in the market news:

[The survey] also found that smaller pieces dominated the colored gemstone jewelry market, with rings comprising 52 percent of such jewelry items, and earrings constituting 14 percent. By value, the survey estimated that 50 percent of the gemstone jewelry market is comprised of small items.
The survey found the 40 percent of colored gemstone rings were purchased were for astrological reasons, although astrological oriented jewelry only accounted for 10 percent to 15 percent of the total colored gemstone jewelry market by value.

Click here to read the full Rapaport report.