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Our Bureau

Mumbai , Oct. 1

MUMBAI-BASED Sheetal Manufacturing Co, manufacturer of polished diamonds, is all set to enter the diamond jewellery retail market in India with its brand of Kiah range of jewellery.

The Rs 800-crore company, which has an annual turnover of 1.5 million carats, has a major presence in the overseas market, especially the US.

Talking to presspersons, Mr Govindbhai Kakadia, Chairman of the Sheetal Group of companies, said the Kiah range of diamond jewellery would lay thrust on "innovative designs and consistent price range". The company will be investing Rs. 150 crore during the next two years to set up a retail chain for marketing the new products across the country.

Sheetal, which has chosen film actress Sushmita Sen as the brand ambassador, plans an active media campaign, including a TV commercial, to introduce its brand in India.

"We have already launched it in a small way in Mumbai and the response has been encouraging," Mr Kakadia said. The range of products includes rings, pendants and necklaces, with a price spectrum of Rs. 4,000 a piece for the daily-wear collection to Rs 10 lakh apiece for the bridal wear collection.

The company is planning to set up a chain of 25 exclusive showrooms across the country within the next two years.

Asked how the company would face competition, he said, "There will be competition, but India is a huge market for such products, estimated at Rs 7,000 crore. In the next five years, we expect the market to grow to Rs. 20,000 crore."

He said the company was banking on its designs, which would be its USP for the new brand.

More Stories on : Retailing | Gems & Jewellery | Brands

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