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Jewellers bargain on rent, pare store sizes and stocks to stay afloat

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Jewellers in India have been struggling for survival ever since the government announced demonetisation

4 min read Last Updated : Jul 28 2020 | 1:42 AM IST

The Rs 475,000-crore Indian jewellery sector has entered a consolidation phase with jewellers renegotiating for a 25-30 per cent of cut in rent, reducing store sizes and inventories, and pruning other fixed costs including labour and technology for survival.

This situation has been fuelled by the rally in the price of gold, with bullion hitting new highs everyday on global cues. Jewellery buyers have deferred new purchase amid expectations of a correction in gold prices. Apart from the prohibitive price of the metal, the general apathy of consumers who are avoiding store visits and are only buying gold coins or

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