The expansion is in line with the strategic growth plan of the business. The company, over the years, has consistently grown across all the categories leading to the requirement of expansion of diamond manufacturing facilities. The new factory would support the company’s sales growth plans in the new business territories and increased demands from the existing customers.
Kiran Gems’ jewellery business has also witnessed a robust growth in the past years in the wake of growing and stabilising economy of the U.S. The diamond jewellery business sources over 90 per cent of their diamond requirements from Kiran Gems. The expansion of diamond manufacturing would also ease sourcing of diamonds, which include special cuts, colour assortments, for the jewellery division. It is also expected that the expansion would ease the diamond manufacturing pressure of special programs, the U.S. majors does with the diamond jewellery division.
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