SGS closed the year 2006 with a turnover, including agency sales, of US$136mn from its two lines of business, viz. sales to majors and to retailers.
Giving an overview on the trends in the jewellery business Doshi, added, “the jewellery business worldwide is witnessing consolidation at all levels. Major retailers are looking for economical and efficient manufacturing and product development partners.” Commenting the trend as healthy, he said, “Indian players have truly become favorites of their western counterparts as possible partners and many such deals are likely in the near future.”
As for Shrenuj, the deal opens the entire North American market for its range of diamonds and jewellery. The deal, funded by long-term debts, FCCB and internal accruals, is expected to generate significant additional revenues and profitability for Shrenuj.
Shrenuj & Company Limited
marketing@alchempro.com
