Goldiam International bags order worth $2 million in Black Friday week

Goldiam International Ltd has announced an encouraging order for both natural and lab-grown jewellery during Black Friday week via e-commerce platforms.

The Company witnessed an order inflow of USD 2 million during Black Friday week via e-commerce platforms, registering a growth of 30% yoy. Such orders are expected to be executed in 7-8 working days.

These order receipts are via e-commerce platforms, making them more working capital efficient. Of the Total order received, lab-grown jewellery accounts for ~40% of the total value, the company said.

Rashesh Bhansali, Executive Chairman of Goldiam International, said, "The story of the U.S. retail sector has been one of incredible resilience over the past few years.

Receipt of orders worth USD 2 million over the black Friday week is quite encouraging. Additionally, e-commerce sales have a negative working capital requirement which makes these sales more remunerative.

Lab-grown diamond jewellery has been witnessing strong traction and has been growing consistently. We expect this momentum to continue during Christmas, and the Company is well-positioned to deliver the orders accordingly".

At around 9:16 AM, Goldiam International Ltd is currently trading at Rs131.40 per share up by Rs1.8 or 1.39% from its previous closing of Rs129.60 per share on the BSE.

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