Goldiam International ventures into Russian market
City-based jewellery company Goldiam International on Monday said it is venturing into the Russia and is in talks with a leading Russian retail business house for a proposed joint venture.
By PTI |
MUMBAI: City-based jewellery company Goldiam International on Monday said it is venturing into the Russia and is in talks with a leading Russian retail business house for a proposed joint venture.
Goldiam International's subsidiary Diagold Designs is venturing into the Russian markets with a distribution and retail business in diamond studded jewellery, the company said in a filing to the Bombay Stock Exchange.
The Russian business is expected to be operational by February, 2008 and would generate 10 million dollar incremental sales in the financial year 2008-2009, it added.
"Diagold Designs Ltd is also in talks with a leading Russian Retail business house for a proposed Joint Venture," the company said.
Last week, the company had received approval from the Development Commissioner, SEEPZ Special Economic Zone, for the establishment of a trading unit in Santacruz Electronics Export Processing Zone (SEEPZ) SEZ, in Mumbai.
These jewellery are being manufactured in Goldiam International's factories in India and China.
Shares of the company were trading at Rs 81.05, down 4.48 per cent, at BSE in afternoon trade.
Goldiam International's subsidiary Diagold Designs is venturing into the Russian markets with a distribution and retail business in diamond studded jewellery, the company said in a filing to the Bombay Stock Exchange.
The Russian business is expected to be operational by February, 2008 and would generate 10 million dollar incremental sales in the financial year 2008-2009, it added.
"Diagold Designs Ltd is also in talks with a leading Russian Retail business house for a proposed Joint Venture," the company said.
Last week, the company had received approval from the Development Commissioner, SEEPZ Special Economic Zone, for the establishment of a trading unit in Santacruz Electronics Export Processing Zone (SEEPZ) SEZ, in Mumbai.
These jewellery are being manufactured in Goldiam International's factories in India and China.
ADVERTISEMENT
Shares of the company were trading at Rs 81.05, down 4.48 per cent, at BSE in afternoon trade.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
