The Hindu Business Line : MP Jewellers plans to restart exports

THE Kolkata-based jewellery retailer and wholesaler MP Jewellers is planning to resume exports from 2005. The company, which was set up before Independence, will turn 60 on January 26.

Addressing a press conference here on Wednesday, Mr C.K. Roychowdhury, senior executive, said that targeting the US market, MP Jewellers would relaunch its exports after a gap of over three years.

"The high demand for MP Jewellers' products in the domestic market" was one of the reasons behind withdrawing from the exports market since 2001-02, according to Mr Roychowdhury. At that time, Dubai was the company's main market with exports averaging at 15 kilos per month.

MP Jewellers, known mainly for its astral gemstones, is now seeking a major presence in ornamental jewellery and studded jewellery.

The company has already invested about Rs 1.5 crore on space at Aerens Souk, the gold mall coming up in Gurgaon near Delhi, according to Mr Biplab Roy Chowdhury, senior partner.

The company which, makes all types of traditional jewellery including kundan and Bengal's famous wire-work pieces, is also planning to launch a customer loyalty programme called `Jubilee Club'.

Mr Roychowdhury, who was unwilling to reveal turnover figures, said that although there was an initial drop in sales due to the upward price spiral, 2003 ended with a 20 per cent sales growth for MP Jewellers. The rate is expected to be maintained this year for gold jewellery. The company witnessed a 7 per cent growth in platinum jewellery sales and a 10-15 per cent growth rate in sales of diamond jewellery in 2003. The company, which has a presence in the wholesale market in Mumbai and Delhi, is adding the fourth retail outlet in the city to mark its diamond jubilee.

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