P N Gadgil Jewellers has introduced Litestyle, a new sub-brand focused on lightweight and lower-carat jewellery, in response to surging gold prices that are prompting consumers to seek more affordable options.
Speaking to Reuters, Saurabh Gadgil, Chairman of the Pune-based jewellery firm, noted that while gold prices have soared, consumer budgets have not kept pace, leading to a growing preference for budget-conscious purchases.
The lightweight jewellery category is expanding rapidly—at an estimated 30% annual growth rate—and PNG Jewellers plans to open 12 Litestyle outlets this year to meet rising demand.
Domestic gold prices reached a record ₹101,078 per 10 grams on Monday, marking a 29% increase in 2025, following a 21% rise in 2024.
Gadgil said that although customers are gradually adapting to higher prices, the company expects a 30–35% year-on-year revenue increase for the fiscal year ending March 2026. He also observed a rise in investment demand for both gold and silver, as these metals currently offer better returns than many other asset classes.