Offering lower making charges is one of the oldest ways to win a customer in jewellery. The trouble is that almost every jeweller does it. When everyone makes the same offer, the offer stops being a reason to choose you.

In our view, a strategy that any competitor can copy in a day is a weak strategy. A stronger one is to build something that is harder to copy. In jewellery, that often means studded and diamond jewellery, where the value comes from stones, design and craftsmanship, and not only from the weight of gold. That gives a business more room to earn.

One of India's jewellery manufacturers has just made a move that follows this thinking.

The Deal

On 7 October 2026, Sky Gold & Diamonds Ltd completed the acquisition of 100% of the equity shares of Purvi Gems & Jewellery (India) Private Limited. The company's board had approved the deal on 18 September 2026, and completion came ahead of the 30 November 2026 date first expected.

Quick facts

• Deal value: ₹9 crore in cash, which the company says is 1.5 times Purvi Gems' book value as of 31 March 2026

• Related party: No. Sky Gold says neither its promoter nor promoter group has any interest in Purvi Gems

• Management: Purvi Gems' current management will continue to oversee the business

• Purvi Gems turnover: Reported at ₹67.87 crore in FY24, ₹78.95 crore in FY25 and a provisional ₹103.40 crore in FY26

 About Sky Gold & Diamonds

It was established in 2008 and is listed on BSE and NSE. It manufactures gold jewellery from its Navi Mumbai facility and supplies jewellery brands, wholesalers, distributors and retailers, often with natural diamonds, lab grown diamonds and coloured gemstones.

About Purvi Gems & Jewellery Pvt Ltd

It was incorporated in 2010 and makes lightweight, uncut and studded jewellery. It has built it's demand in South India and export markets.

Why the Move Makes Sense  ?

According to Sky Gold's announcement, the deal gives it:

• Immediate entry into the lightweight uncut and studded jewellery segment, which widens its addressable market

• More exposure to higher margin studded jewellery, supporting its product mix and profitability

• Potential monthly sales of around 100 kg

• Cross selling opportunities across its existing customer network

• A stronger export position, particularly in the Middle East

The jewellery market keeps changing. Customers want new designs, competitors copy every offer, and the old tricks stop working sooner than before. Sky Gold's move shows a business reading that shift early and acting on it.

Thinking ahead and adapting to change is the new constant in this industry. Those who do it well are the ones who scale in the jewellery market.