Diamonds and semi-finished stones trade through Mumbai Suburban at trade prices while others earn the design margin. A small label with its own setting workshop can turn them into finished jewellery for online shoppers, boutiques and, later, overseas buyers.
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This business designs its own rings, earrings and pendants set with small diamonds, has them made in its own small workshop, and sells them under its own name. Pieces can be in silver or gold, with natural or lab-grown diamonds, always clearly labelled.
Why here: gems and jewellery is Mumbai Suburban's One District One Product. BKC is home to the city's big diamond trading exchange, and the SEEPZ export zone in Andheri East is packed with jewellery makers. Loose and semi-finished stones move through the district at trade prices, while the extra money from design and a known name goes to labels further along the line. Stone supply, setting and polishing skills are all close by.
What it takes: a clear design style, trusted stone dealers and two or three skilled karigars (craftsmen). You also need GST registration and BIS hallmarking for gold pieces. Give gem-lab grading certificates with costlier pieces, and never blur natural and lab-grown stones. The hard part is selling, not making. A new name has to earn trust, and money tied up in stock that does not sell is the main risk. Gold and diamond price swings add to it.
Sell through your own website and social media, wedding and gifting exhibitions, boutiques in Bandra and Juhu and, later, overseas buyers at trade fairs.
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