Goldiam International Ltd. (Goldiam), an integrated manufacturer and supplier of fine diamond jewellery to leading retailers and wholesalers in the USA and Europe, reports an encouraging order for both natural and lab-grown jewellery during Black Friday week via e-commerce platforms. The Company witnessed an order inflow of USD 2mn during Black Friday week via e-commerce platforms, registering a growth of 30% YoY. Such orders are expected to be executed in 7-8 working days. These order receipts are via e-commerce platforms, making them more working capital efficient. Of the Total order received, lab-grown jewellery accounts for ~40% of the total value.
Mr. Rashesh Bhansali, Executive Chairman of Goldiam International, said, "The story of the U.S. retail sector has been one of incredible resilience over the past few years. Receipt of orders worth USD 2mn over the black Friday week is quite encouraging. Additionally, e-commerce sales have a negative working capital requirement which makes these sales more remunerative. Lab-grown diamond jewellery has been witnessing strong traction and has been growing consistently. We expect this momentum to continue during Christmas, and the Company is wellpositioned to deliver the orders accordingly".