MUMBAI: One of Asia's largest manufacturers and exporters of diamond jewellery Kama Schachter is eyeing up to 30 per cent revenue growth as the US and Japanese markets are expected to bounce back, while China will grow, a top company executive said.
"Last year was challenging for the industry and exports were drastically affected. This year, things are improving and we expect 25 per cent to 30 per cent growth in sales as US and Japanese markets look positive.
"The Chinese market is expected to grow by seven per cent. The domestic market is also very positive," Kama Schachter's Managing Director Colin Shah told PTI.
The company's international and domestic businesses account for 50 per cent each of the total turnover, Shah said.
Kama Schachter's global presence now extends to Israel, the US, Japan, Germany and China, where it also has a manufacturing unit.
The company has a retail presence in India, with its private label brands like Kama Love and Kama Platinum, which are available at over 230 retailers across the country.
"For Kama Love, which is currently available with about 100 stores, we plan to expand our retailer distribution network to 200 stores and for Kama Platinum, which is available with around 130 retailers, we will expand to 200 stores by December 2013, across India," he said.
Kama Schachter also has two exclusive company showrooms in Mumbai.
"We are planning to open another exclusive company showroom in Mumbai by November this year. We would like to be strong in the western region before becoming national player," he said.
The company also expects its retail business to grow by around 30 per cent, as against the industry growth of about around 15 per cent, he said.
The company has also launched web stores and offers over 1,000 pieces of diamond jewellery in categories like rings, ear rings, pendant sets, pendants as well as men's jewellery with price range between Rs 6,000 to a few lakhs for necklaces and solitaires.
Kama Schachter has also entered the corporate gifting segment and its current portfolio includes Kama diamond jewellery and gift vouchers, among others.