Gemfields India Pvt Ltd, a part of UK-based $84 million Gemfields Plc, a producer of coloured gemstones, is aiming 30% growth in its business in India during 2013-14.
The company polishes 90% of its gemstones in India and 40% of them sold here.
The company is also planning to expand its offerings in India with the launch of rubies in the second half of this year, Rupak Sen, regional marketing director-Asia, Gemfields India Pvt Ltd said.
“We have grown 50% in India last year and with the base going up we are looking at 30% growth this year, which is a very good growth. We will be expanding our offerings with the launch of rubies later this year,” he said.
After developing emerald and amethyst mines in Zambia, the company is now venturing into rubies, processed in Mozambique. '
Sen said the company will kick start a major advertising campaign in India with a spend of $1 million. It is planning to publish print advertisements in 12 major luxury magazines.
Gemfields, which unveiled a new jewellery collaborations with 36 leading international designers, here on Tuesday, is also looking at partnering with more Indian jewellery houses. It is in talks with Tanishq, Kalyan Jewellers, Joy Alukkas among others. It has already partnered with Gitanjali for sourcing of emeralds.
The Indian gems and jewellery market is estimated at $30.1 billion, of which gemstones account for 6%, while diamonds account for 15%.
