MDIL enters into a Business Arrangement in the Jewellery Ancillary and Auxiliary Services Segment

Mini Diamonds (India) Limited (MDIL) has entered into a business arrangement with a Pyramid Gold Auxiliary Services LLP, a Mumbai-based Jewellery Hallmarking and Auxiliary services unit. Under this arrangement, MDIL will take responsibility for marketing and business development and get a share in revenue accordingly, while gaining the ability to offer hallmarking, assaying, touch testing and other ancillary services to its existing and prospective customers through the business partner.

The arrangement will also enable MDIL to tap into the unit's customer base as a potential market for its jewellery products and related services, thereby strengthening MDIL's overall service offering and deepening its reach across the jewellery value chain.

Shri Upendra N. Shah, Chairman and Managing Director, Mini Diamonds (India) Limited, had to say the following with regards to this business update: "We see this business arrangement as a logical extension of our jewellery business, allowing us to offer hallmarking and related ancillary services alongside our core products. By combining our marketing capabilities with the business partner's established operational base in Mumbai, we aim to deepen our customer relationships and unlock additional revenue streams."

Source : Equity Bulls

Keywords

MiniDiamondsIndia BusinessArrangement PyramidGoldAuxiliaryServices