Reliance Money joined hands with Swiss precious metals refiner to retail gold coins in India

Reliance outlets to sell 24 karat, 999.9 pure gold coins in denominations of 5 gm and 8 gm

Post By : Diamond World News Service On 07 May 2007 12:00 AM
JEWELLERY manufacturer Flawless Diamond India Ltd has decided to invest Rs.50 crore ($11.14 million) to fund its entry into the jewellery retailing business, according to a company statement. Flawless plans to sell its own branded and non-branded jewellery through its own retail chain. It plans to open at least three outlets before December 2006 and 25 outlets before March 2007.%%During its second quarter ended September 30, Flawless reported a 45 per cent drop in revenue to Rs.59.93 crore ($13.34 million) compared to a year earlier. However, its net profits increased eight-fold to Rs.1.25 crore ($280,120).%%Flawless recently invested Rs.50 crore ($11.14 million) in the construction and realty development business, and will focus on developing shopping malls, residential complexes and projects.

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