Classic Diamonds forays into Saudi Arabia

Classic Diamonds,will soon partner with two Saudi Arabian firms to sell its range of jewellery in what is considered Middle East's largest jewellery market. The first deal to be signed would be worth $5 million, according to Nirav Bhasali, Director – Classic Diamonds.

The DTC Sightholder had witnessed a 60 per cent growth in its jewellery sales in 2006, totaling to $35 million, as compared to 2005. The net sales including diamonds, were valued at $158.34 billion and net profits, at $5.58 million during 2006-07.