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Vaibhav Gems earns 11 percent increase in sales for 2007-08
Also had to consolidate its operations in US and Bangkok
By: Diamond World News Service
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Sep 13 2008 2:13AM
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Reference: 3039  

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The Annual Report results of Vaibhav Gems for the year 2007-08 show increase of 11 percent in sales for the year. The company earned sales revenues worth Rs.313 crore, a cumulative figure encompassing its worldwide retail presence. Of this, its retail sales in Mexico, Alaska and Carribean Islands, Germany and UK generated good results, as indicated by media reports.

However, the generic challenges in the industry - US economy slow down, increasing oil prices and gold prices, did make the company consolidate its operations in US and Bangkok. The company also faced a total loss of Rs.184 crore.

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