What do jewelers buy in Diwali?

While you might be busy shopping for jewelry and fineries for the upcoming festive season, the jewelry chain owners especially the ones based in Kerala are shopping for something far more outlandish- private jets and helicopters!

Apart from using private jets for business purposes, jewelers like Joyalukkas are looking at renting and maintaining an air fleet for profit. Joyalukkas has 54 outlets across the world, including the Gulf, London and Singapore. With a hope of touching a turnover of Rs.12,000 crore; they can surely afford to buy aircrafts at $10 million of which they already have two.  Kalyan Jewellers too have spent Rs.48 crore on a Bell 427 helicopter citing official purposes.  They target a turnover of Rs.20,000 crore this year.

It is interesting to notice that while the gold rates have not budged down much, the drop in sales at least hasn’t deterred these biggies much. With helicopters, private jets, big mansion and an international, ever expanding market; it truly looks like they are born with a golden spoon.