Rosy Blue set to achieve $2bn sales target in '06

Dubai, Dec 12: Belgium-based Rosy Blue, one of the largest diamond manufacturers in the world, is set to achieve a global sales target of two billion dollars this year from 1.7 billion dollars achieved last year, its chief operating officer has said.

Mr Sanjay Dalmia said his company is seeking to raise its market share in the Gulf Cooperation Council (GCC) region up to 15 per cent during the next five years.

''We have set a sales target of 300 million dollars in the GCC region for 2007,'' Khaleej Times reported him as saying.

''There is huge space in the branded jewellery sector in the UAE and as a step of 'forward integration' the company planned to offer its existing clients from raw commodity to end product, its branding and marketing a 'complete package'.'' The company is also planning to launch 8-10 brands in West Asia and is open to franchise initiatives in the region, Mr Dalmia added.

''The company's sales in the region are expected to touch 250 million dollars in 2006 as against 200 million dollars last year.'' Rosy Blue's global sales include loose diamonds, jewellery and rough and polished diamonds.

According to the Dubai Chamber of Commerce and Industry the trade in diamonds was worth Dh25.2 billion in 2005 an increase of 72 per cent from the year before.

UNI