Viswa & Devji Diamonds to launch e-commerce site, expand business

The company is launching its second exclusive diamond jewellery showroom in Chennai this month

Viswa & Devji Diamonds, a Coimbatore-based diamond jewellery firm, is planning to enter into the e-commerce market and expand its exclusive retail presence in other states. The company today announced that it will be launching its second exclusive diamond jewellery showroom in Chennai, offering premium limited edition jewellery to the customers.

The company at present has no presence in e-commerce. It would be looking at launching its own e-commerce website next year and would offer casual jewellery with prices ranging from Rs 25,000 to a few lakh rupees, said Prem Kishan, managing director of Viswa & Devji Diamonds. In its current format, the company supplies diamond jewellery to wholesalers and retailers and also sells specially designed limited edition jewellery through its exclusive brand showroom.

"We are not present in e-commerce now. We will be looking at launching our own e-commerce site next year," he said.

The company, which was established in 1950 and caters to the wholesale and retail business in India and abroad, currently has around 20 showrooms in West Asia and in India. Its first branded showroom was established in 2008 in Coimbatore. The company is investing around Rs 50-100 crore to set up showroom in Chennai this month as the first phase of expansion and would later look at expanding presence to Hyderabad, Bengaluru, Visakhapatnam and Kochi, apart from more showrooms in Chennai.

The investment for expansion is from internal accruals and there are no plans for fund raising, said Kishan. The group has a turnover of around Rs 1,000 crore, he added.