Financial Daily from THE HINDU group of publications
Friday, Mar 05, 2004
Financial Daily from THE HINDU group of publications Friday, Mar 05, 2004 |
||
|
|
||
|
Corporate
-
New Projects Shrenuj to set up third jewellery unit Dhimant Bhatt
Mumbai , March 4 SHRENUJ & Company, manufacturer and exporter of cut and polished diamonds and diamond-studded jewellery, is expanding capacity by setting up its third jewellery-manufacturing unit in SEEPZ (Mumbai) soon. "The new factory will be commissioned in the first quarter of financial year 2004-05 under its 100 per cent subsidiary - Aditi Diamimpex, with the total cost of Rs 25 crore," Mr Shreyas K. Doshi, Managing Director, told Business Line. "This unit will act as supply base for some of the leading brands in Europe. The company is focusing on downstream integration and jewellery manufacturing along with diamond manufacturing business," he said. "Looking to emerging diamond jewellery trends and branding boom of diamond studded jewellery in the country, Shrenuj has also enter into the domestic market," he added. The company last week launched 30 designs of diamond-studded jewellery under its new diamond brand, Sveni. "Sveni was launched after extensive market research showed a gap in the market," he added. Sveni (means `white' in Sanskrit) has launched in four cities (Amirtsar, Ludhiana, Chandigarh and Delhi) in northern India. "The company is planning to enter southern market by 2004-end. The Sveni range focuses on the young middle class and the upper middle class women in the age group 20 to 40, with prices starting from Rs 60,000 onwards," he said. Sveni follows close after Nakshatra, Asmi and Arisia, the other three brands under the Diamond Trading Corporation umbrella. "We see a gradual shift in the attitude and the buying behaviour of the Indian consumer who now prefers diamond jewellery to its traditional counterpart, gold. It has been our constant endeavour to fill the vacuum that has been created," says Mr Doshi.
More Stories on : New Projects | Gems & Jewellery
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|