Jewellery brands are hunting down sentimental assets of families through emotional campaigns

India is estimated to have around 30,000 tonnes of gold lying idle in households | Photo Credit: FRANCIS MASCARENHAS

Your grandmother’s chunky gold necklaces and old-fashioned bangles are no longer just sentimental family heirlooms – they are the most hunted assets in the jewellery business. Jewellery brands are engaged in a fierce marketing battle to acquire idle household gold luring customers to their exchange counters with enticing offers and catchy advertisements.

If Tanishq roped in Sachin Tendulkar to call for jewellery purchases through old gold exchange, and did an ad blitzkrieg, then Joyalukkas has taken an interesting tack. It is running an aggressive “Gold Selling is Better Than Gold Pledging” campaign right now in multiple languages urging customers to sell old jewellery instead of taking out expensive loans. In a month-long campaign that stresses on how in just 15 minutes you get instant cash payout for the gold sitting idly in your lockers, it is offering an additional ₹150 per gram over the prevailing exchange value.

Change Mindsets

Joyalukkas, Chairman and Managing Director of the Joyalukkas Group, told businessline that gold has always been an integral part of every family’s legacy, and many customers possess jewellery that is no longer worn as it is not aligned with current fashions. Yet they do not sell it for sentimental reasons, preferring to pledge it in case of financial contingencies. “We are encouraging customers to change this mindset,” he said, describing how the campaign has already had a significant impact. Since it launched on July 10, old gold coming to their outlets is in the range of 8 kgs per day against the average of 2 to 2.5 kgs before. Some days it has even gone beyond 8 kgs, he said. 

Tanishq is also buoyed by the response to its campaigns. Arun Narayan, Chief Executive Officer, Jewellery Division, Titan Company Limited, said, “Over the past nine months, Tanishq has been calling out for jewellery purchases through old gold exchange to minimise imports and strengthen our nation. We are thankful to the 5 lakh customers who have responded by exchanging more than 11,000 kgs of gold in this short period.”

Old Gold

S. Abdul Nazar, General Secretary of the Kerala Gold and Silver Merchants Association, points out that the jewellery industry is facing a shortage of imported gold and, therefore, the availability of old gold in the domestic market has assumed significant importance.

Citing various studies, he said that India is estimated to have around 30,000 tonnes of gold lying idle in households. Of this, nearly 25 per cent—about 7,500 tonnes—is believed to be held in Kerala.

The World Gold Council in a market update has noted that trade-ins and old gold exchanges continued to rise and currently account for between 43–55 per cent of sales at major jewellery chains, aided by promotional and marketing campaigns. 

Transparent Transactions

Nazar says, “Until now, the purchase of old gold was largely dominated by the unorganised sector, with advertisements carrying phone numbers pasted on walls and public places, raising concerns over transparency and legality. The entry of organised jewellers into this segment will ensure transparent transactions and enable customers to realise the best market value for their gold.”

Tanishq’s Narayan describes how the brand’s “exchange programme is built on transparent, standardized, and fair evaluation processes that give customers complete confidence in every transaction.”

Joyalukkas too stressed how the company’s old gold buying programme maintained the highest standards of transparency in valuation. 

Published on July 17, 2026