Classic Diamonds ties up with Diamond Direct LLC to tap the US Retail Jewellery Market

Classic Diamonds India Ltd has announced that the Company has recently entered into an agreement with Diamond Direct LLC, a reputed Company dealing in Jewellery, Outlet and Super Stores in USA to establish retail operations in the US & Canada.

The Company is a DTC sightholder Company. The company is present in all the value segments in the jewellery manufacturing chain - from loose diamonds to design, and manufacture of retail Jewellery.

The rough diamonds are cut & polished at the company’s, diamond manufacturing unit diamond studded jewellery are designed and manufactured in-house. This end to end manufacturing expertise allows the Company to have better control on production processes thus enabling better cut and clarity and low cost of production.

Retail Jewellery business is a focus growth area for the Company and it is looking to expand its presence in local and overseas markets.

Diamond Direct LLC is a jewellery wholeseller working exclusively with the Company. Its clients include retail chain stores like JC Penny, Sterling, Zales and the Samsclub (a higher end store of WALMART). All the jewellery sold to these retail chains are sourced through the Company.

The Company is now looking to tap into the US retail market directly thru Diamond Direct LLC. The Company & Diamond Direct LLC are in discussions to set up jewellery retail chain stores under the "Classic Jewels" brand. These chain stores will retail diamond studded jewellery manufactured by the Company.

Source : Equity Bulls

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