Mini Diamonds India Ltd (MDIL) announced on August 19, 2024, a partnership with AV PALACE DMCC, a diamond and jewelery enterprise based in Dubai. The collaboration aims to expand MDIL’s lab-grown diamond jewelery segment in Dubai and adjacent regions.
MDIL is under the Periodic Call Auction System (PCAS), with shares trading at ₹104.07, up by ₹2.04 or 2 per cent, on the BSE on Monday.
AV PALACE DMCC, located in Almas Tower, Jumeirah Lakes Towers, Dubai, will distribute MDIL’s jewelery through both Business-to-Business (B2B) and Business-to-Consumer (B2C) channels. In the B2B sector, they will engage with wholesalers, retailers, and other businesses, offering customized and bulk order options with competitive pricing. For B2C, AV PALACE DMCC will provide direct sales to consumers both online and in-store, offering personalized customer service and certified jewelery pieces.
MDIL specializes in cut and polished diamonds and jewelery manufacturing. The company operates a manufacturing facility in Mumbai, equipped with cutting-edge technology including Sarin Technology, Auto Bruting Machines, and Semi-Automatic Polishing Mills.
Upendra N Shah, Chairman and Managing Director of MDIL, stated, “We are confident that the collaboration with AV PALACE DMCC, Dubai will significantly enhance MDIL’s market presence in Dubai and bring our beautifully crafted lab grown diamond jewelery to a broader audience. We look forward to a successful and prosperous partnership that will elevate our brand and solidify our position in the global jewelery market.”
The partnership is aimed at establishing a strong brand presence for MDIL in the competitive Middle Eastern market, leveraging AV PALACE DMCC’s decade-long experience and reputation for quality and customer satisfaction.
