Rajesh Exports heads for Rs 8000 cr export

Bangalore, Jan 3 (UNI) Diamond and gold jewellery exporter Rajesh Exports Ltd (REL) will achieve Rs 8,000 crore of exports during the current fiscal, company Chairman Rajesh Mehta said.

Speaking to reporters after releasing a new range of international diamond jewellery brands here today, he said falling margins had affected the gold jewellery export industries hard.

The city-based company would concentrate more on private label exports, diamond jewellery and retail, which offered better operating margins. Bulk export share in overall business was targeted to be brought down to 25 per cent in five years. Now, bulk exports constituted little over 92 per cent.

While bulk exports offered operating margin of just 3.5-4 per cent, it was 14 per cent in case of retail, 20 per cent for private label exports and 35 per cent for diamond jewellery, Mr Mehta said.

''The new designs will reach out to 100 countries over the next five years. The ranges consist of 700 sets of jewellery, including traditional, western and Arabian styles, appealing to a wide spectrum of customers and for various occasions such as daily, party and wedding wears, while the affordability factor has been kept in mind,'' he said.

He said the recession in the US would not affect the company much as its exports to that country constituted only 15 per cent of the total.

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