The Hindu Business Line : In search of a ‘soul mate’ in India

Recently in China Mr Yon-Ping Cheu is engrossed in mounting diamonds on gold ring. Mr Cheu is amongst 1,500 skilled diamond workers in J.B. Group’s Panyu unit working hard to broaden the expression of love through diamonds.

And, for the Panyu unit in Mainland China, diamonds come in pairs or rather are called SoulMate.

Every pair of diamonds for the SoulMate is from a single rough and is not separated, even while cutting and polishing.

SoulMate is in demand in the US and the UK. They are gifted to siblings and spouses.

With disposable incomes growing, India too is on the radar of the J.B. Group.

J.B. Group is an accredited ‘sightholder’ (licencee) of Diamond Trading Corporation (DTC), which is a part of De Beers Group that supplies the rough diamonds.

The cheapest of SoulMate in the US cost about $200 (Rs 8,000) and are distributed through 1,600 retail chains in the US and the UK. Though not marketed, SoulMate is made in India (Surat), China and Thailand. The company recorded a turnover of $25 million in 2006-07.

In talks with retailers

Mr Bhupen Surani, Chairman, J.B. Group, says, “We may launch it by June-July. We are in talks with a few retail chains and jewellery shops in India. In a nutshell, we are in search of a ‘soul mate’ in India.”

Though SoulMate will not be available off the shelf, the company intends to maintain demand with prompt delivery. “We are also ramping up production capacity at our Panyu unit by doubling workforce,” said Mr Surani. Panyu is considered the jewellery manufacturing hub boast of 1.40 lakh skilled artisans and 30-40 units.

The company in China also markets Venti, a French designer classic jewellery.

Apart from SoulMate’s launch, the company has lined up investments in a steel manufacturing unit, hospitality, mining and real estate in India.

It is developing a 400-acre luxury hotel in Goa at a cost of Rs 250 crore. Another of its star hotel chain is expected to come up shortly in Dubai and Oman.

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