The World Jewelry Center announced that three Indian companies have signed Letters-of-Intent to occupy the planned trade and retail complex in Las Vegas.
With the signings of Dharmanandan Diamonds, Shefi Diamonds, and Vishal Diamonds, the total number of companies from India or have Indian ties total 26, about 15 percent of the 147 total participating firms. Seven of these companies are DTC sightholders or affiliated firms.
“The World Jewelry Center offers a great opportunity for Indian companies to participate in a major new jewelry marketplace, and there are many unique benefits to it, including a designated Foreign Trade Zone,” said Yogesh K. Madhvani, chairman and chief executive officer of SimplexDiam, Inc., one of the earliest Indian companies to reserve space in the WJC.
Jerry Buckley, WJC global manager of Sales and Marketing, travels regularly to India, as well as to major international shows where Indian firms exhibit, and has made numerous presentations to Indian diamond, colored gemstone and jewelry companies.
“As leaders in the international gem and jewelry industry, Indian companies clearly recognize the value of the World Jewelry Center to help them increase business in North and South America and the Pacific Rim countries,” Buckley said.
“Since the outset of the World Jewelry Center project, the response from Indian companies has been very positive,” added Bill Boyajian, WJC managing director. “With a worldwide entrepreneurial outlook and a great deal of experience in the jewelry industry, Indian firms grasped the WJC vision early on.”