Classic Diamonds launches its Retail Store in Delhi, Plans to open its retail stores in other metros

Classic Diamonds India Ltd has announced the soft launch of the Company´s Delhi Store in Delhi, after receiving a overwhelming response from the Company lately opened store at Gurgaon the Gold Souk. The Company is a fully integrated business, buying its rough diamonds from the major mining Companies, manufacturing it under the Company’s direct control, sorting the polished into regular assortments and finally selling to jewellery manufacturers or the Company own jewellery manufacturing Company. With the inauguration of this Retail Store, the Company will be able to better serve its customers, of well made diamonds, consistently.

It is opening its next retail store in Ludhiana by the close of this week. By this the Company will now be in a position to cater to the cream buyers of Diamond Studded Jewellery of the north of India.

With an annual turnover in excess of $135 mn, the Company is one of the leading diamond Companies in India. The Company have been one of the few publicly quoted Companies on the stock exchange ever since. The Company are recognized Sight holders of both the Diamond Trading Company and of the Aber Group, which in itself is recognition of the fact that the Company are one of the largest Indian manufacturers of Stars (2 Pointer) with a monthly output of 2.5 million stones.

The international market on the Diamond front has now started to absorb the prices that were jerked up in the previous year Aug to Dec due to the increase in prices of rough. The effect of which has been seen partly in the first quarter, and the rest would be in the second quarter. During the last quarter, Company’s profit before tax was up by more than double and expects to grow further.

Source : Equity Bulls

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