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