Bennett, Coleman & Co (BCCL), the publishers of the Times of India and the Economic Times, has picked up a 9.22% equity stake in Flawless Diamond India (FDILL), an over 30-year-old integrated diamond and jewellery manufacturer, who is now all set to foray into the lifestyle retail segment.
Flawless Diamond is likely to set up its own outlets across this city and plans to franchise its brand in other parts of the country, which will firmly establish its presence in the jewellery sector.
AUM, the company's flagship brand, is going to represent the distinct identity through its key focus on unique & innovative product designing. The group wants to ride on the combination of fashion and jewellery to drive growth and will focus on extensive distribution so that AUM attains new levels of success.
Apart from high-end luxury products, it also looks to cater to middle and higher-middle class segments. Speaking on the companys growth plan FDIL managing director Bhawar U Jain said AUM intends to be a significant player in contemporary branded diamond jewellery segment.
Source : Television Point