Sky Gold will start D2C (Direct to Consumer) sales in the USA
Dec 20, 2022
Mumbai (Maharashtra) [India], December 20 (ANI/PNN): Sky Gold Limited (BSE: 541967) is engaged in the business of Designing, Manufacturing and Marketing of Gold Jewellery. Has entered the D2C (Direct to Consumer) market in the USA to expand its business. The Company has a tie-up with M/s. Varanium Inc. USA and will introduce its Gold Jewellery Products by launching its own brand in the USA retail market.
Speaking on the occasion Mangesh Chauhan, Managing Director and Chief Financial Officer of Sky Gold Limited said - "This is an exciting day for us as we are taking first step towards diversification in Retail Segment. We are introducing our jewellery products by launching our own brand in collaboration with M/s. Varanium Inc. in the USA retail market through D2C channel.
There is a substantial demand for light weight jewellery products in the US retail market which will provide a lucrative opportunity to establish our brand."
Established in 2008 Sky Gold Limited (The Company), is one of the leading jewellery companies based in Mumbai. The Company has been engaged in the business of Designing, Manufacturing and Marketing of gold jewellery.
The Company is specialised in light weight jewellery of 22 Carat gold. The Company manufactures jewellery through casting. The Company make Plan Gold Jewellery, Studded Gold Jewellery and Turkish Jewellery.
The Company works on B2B model with leading Jewellery Retailers like Malabar Gold & Diamonds, Joyalukkas, Kalyan Jewellers, GRT Jewellers and Samco Gold. The Company also works with large wholesalers. With this Sky Gold products are available at more than 2,000 showrooms across India.
Sky Gold manufactures its Jewellery in its 25,000 Sq Ft manufacturing facility in Mumbai India with the help of German Equipments. The Company is having capacity of processing 300 Kg Gold per month. The Company has design library of more than 5,00,000 designs of rings, bracelets, bangles, fancy pendants, earrings etc.
The Company entered equity markets by SME IPO on BSE SME in October 2018 raising Rs 25.56 Crore at issue price of Rs 180.
For FY22, The Company has reported total Revenues of Rs 796.26 crore and Net Profit of Rs 16.92 crore.
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