Chennai: World Gold Council on Tuesday announced the launch of its wedding jewellery collection Azva, inspired by the seven vows.
Initially the collection would be available in the four metros, which will be expanded to 20 other cities of India in a phased manner, World Gold Council Director (Jewellery) Vipin Sharma said.
"Today, 50 percent of the gold is bought for weddings," he said.
Azva will be available in select jewellery stores here from November 10, Sharma said.
The target age group was 23-30 years, he added.
The collection ranges from 70-300 grams and the price range was a "broad" one, Sharma said in response to a question, without elaborating.
Later, Sharma told reporters that Azva was launched following an extensive survey with Indian consumers.
To questions on market trends, he said there had been a "fairly robust demand for gold in the long run" and the annual demand for the last three years was around 700 tonnes.
However, there had been a eight per cent "dip in value" in the first half of 2012 compared to the period 2011 but, demand will pick up in the wake of the festive season, he said.
First Published: Tuesday, November 6, 2012, 14:24