India’s Dimpex to focus on U.S., China, domestic market
MUMBAI, January 8, 2012 – Indian manufacturer Dimpex will concentrate more on the U.S., Chinese and domestic markets in 2012 to confront a challenging global economic environment.
Viral Mehta, director, Dimpex Group
“We are trying to develop more the customer base there (U.S.), considering that that market is reviving,” Viral Mehta, a director of the Dimpex Group, told Jewellery Outlook at the Dimpex stand on the sidelines of the IIJS Signature gem and jewellery trade fair in Mumbai.
He said Dimpex would focus on doing more roadshows – travelling and meeting clients personally – in the United States.
Rajiv Jain, chairman of the Gem & Jewellery Export Promotion Council (GJEPC), has said that jewellery sales did fairly well in the United States over the Christmas period, highlighting the U.S. as a bright spot in a tough international market.
The Dimpex Group will concentrate more on boosting sales of loose diamonds, rather than manufactured pieces, to China, as the Chinese market has the option of sourcing finished jewellery from Thailand and Hong Kong.
Mehta said he saw strong potential for gem and jewellery sales in India in 2012 despite a slowdown in recent months spurred by a weaker rupee and high, volatile precious materials prices.
“Volumes may have gone down a bit (in India) and some people have converted into 14-carat instead of 18-carat (gold),” he said.
Value was holding steady in Indian wedding jewellery demand, he added.
The Dimpex Group exports loose diamonds and diamond studded manufactured jewellery, and has diamond processing factories in Mumbai and Surat.