Getting a facelift

Calcutta, Jan. 2: The Indian arm of $6.5-billion Diamond Trading Corporation (DTC) has undergone an internal restructuring and been rechristened DeBeers Marketing Group.

The company has also decided not to deal with diamond brands and to only handle generic promotion.

“The business in India will now deal only with the promotion of diamonds as a category and with establishing the Forever mark. We want the Forever mark to stand for quality and trust just like Woolmark does for woolen garments,” said Premjit Sengupta, regional business manager (east) of DTC.

DTC owns the Forever mark, which is a unique number engraved on the table (upper surface) of the diamond. It is invisible to a naked eye and can be seen only with a Forever mark viewer. The mark is applicable for diamonds of 0.20 carats and above (higher the carat, more valuable the diamond).

The company recently sold its stake in the Sangini brand to Sanghvi Exports, while Gitanjali Gems bought DTC’s stake in Asmi and Nakshatra, the leading diamond brands in the country. It no longer has any retail diamond brands under its fold in the country.

The business that deals with rough diamonds will now be handled from South Africa.

DeBeers, the parent company of DTC, used to be a listed entity on the London Stock Exchange but was delisted four to five years ago.

The Indian diamond market is worth Rs 9,500 crore, of which Calcutta has a 15 per cent share.

The diamond business in the city has for the first time exceeded the national growth rate.

“The diamond business in Calcutta has grown at 35 per cent while the national average is around 26 per cent. Considering the size of the Calcutta market it will be a significant growth of around Rs 300 to Rs 400 crore,” Sengupta said.

As far as brands are concerned, DTC operated on a built, operate and transfer (BOT) mode.

DTC also plans to launch the Forever mark jewellery in the future.