Mini Diamonds India Ltd (MDIL) announced on August 19, 2024, a partnership with A V PALACE DMCC, a diamond and jewellery enterprise based in Dubai. The collaboration aims to expand MDIL’s lab-grown diamond jewellery 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.
A V PALACE DMCC, located in Almas Tower, Jumeirah Lakes Towers, Dubai, will distribute MDIL’s jewellry 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, A V PALACE DMCC will provide direct sales to consumers both online and in-store, offering personalized customer service and certified jewellery pieces.
MDIL specialises in cut and polished diamonds and jewellery 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 A V PALACE DMCC, Dubai will significantly enhance MDIL’s market presence in Dubai and bring our beautifully crafted lab grown diamond jewellery 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 jewellery market.”
The partnership is aimed at establishing a strong brand presence for MDIL in the competitive Middle Eastern market, leveraging A V PALACE DMCC’s decade-long experience and reputation for quality and customer satisfaction.