Sky Gold Partners With Senco Gold To Launch 'Gen-Z Coded' 9KT Jewellery Amid Soaring Prices

Sky Gold and Diamonds Ltd. has joined hands with Senco Gold and Diamonds Ltd. to form a strategic collaboration to launch a new line of 9KT jewellery, which will target young and first-time buyers, the company confirmed in an exchange filing.

The shares of Sky Gold has zoomed 2% from the day's low of Rs 286.1 and is currently trading with gains of up to 1%, reaching an intraday high of 296.75.

Sky Gold's partnership with Senco Gold for a new line of 9KT jewellery comes on the back of soaring gold prices.

The collaboration aims to capture the growing market for affordable fashion jewellery, thereby targeting the younger 'Gen-Z' population as well as first-time customers.

"At a time when gold prices are at elevated levels, the introduction of exclusive 9kt modern designs allows us to offer more accessible jewellery options," said Suvankar Sen, MD & CEO of Senco Gold and Diamonds.

A 9KT jewellery is essentially a 9-carat jewellery, meaning for 24 parts of the metal, only 9 parts of it will be pure gold. The remaining 15 parts will be made up of allow metals.

This means a 9 KT jewellery usually has a gold quantity of 37.5% while the remaining parts of the jewellery is made up of alloy metals such as copper, zinc and silver.

While 9 KT jewellery may not be 'pure gold' in the very sense of the word, they are usually more affordable and are more flexible than a traditional 22 carat or 24 carat jewellery.

“9 KT jewellery is trending with Gen Z because of the stylish, contemporary designs it offers and its alignment with fast fashion trends. It allows us to reach a wider customer base while also serving as a stepping stone for first-time gold buyers and buyers who need a variety of options in their jewellery collection," said Darshan Chauhan, Director and Chief Growth Officer at Sky Gold.