Apart from the discount, the customers buying jewelries worth Rs 100,000 are also offered gifts worth Rs 5,000, while those buying ornaments worth Rs 150,000 will receive gifts worth Rs 10,000, said Amir Maharjan, executive director of the company. [break]The store also provides jewelry box as anniversary gift to all customers buying diamond jewelries.
The company, which has a showroom in Pulchowk, produces jewelries at its workshop in Gwarko, and their designs are created by in-house designers who always keep track of changing tastes of the customers in Nepal as well as across the globe.
Classic Diamond has two outlets in the United States - Queens Diamond in New York that specializes on Asian community and Majestic Gems in Alaska that deals on European style jewelries.
"The jewelries available at both the stores are manufactured in Nepal,” Maharjan told Republica.
The store sources 90 percent of diamond from India and rest from Belgium and Israel. "Diamond prices were almost steady for the last four years, but this year, it has become dearer by 35 percent mainly due to drop in global diamond output, increase in demand and strengthening of US dollar against local currency," said Maharjan.
Despite consistent rise in the price of finished products, Maharjan said the demand for diamond jewelries is growing with every passing year. He, however, said the market of diamond jewelries could grow multifold in Nepal if a proper laboratory for testing diamond and training center to learn the ways to recognize diamond were established.
The store offers a wide collection of diamond rings, ranging from Rs 15,000 to Rs 700,000 and necklace set priced between Rs 150,000 and Rs 2 million.
The company is currently providing employment to around 90 people.
´We plan to open new outlets in 2013´
Amir Maharjan
Executive Director
Classic Diamond Jewelers
How have the customers responded to your latest discount offer? We have been announcing sale and discount offers every year so that our customers can enjoy buying jewelries at our store. As usual, the response from the customers is overwhelming this year as well. It has raised our sales by around 30 percent. Our recent event ´Timeless Paragon Jewelry Fashion Show´ also drew a warm response, helping us a lot to showcase our jewelry products and promote our brand.
How is the price of diamond products determined?
The price of diamond depends on clarity, color and weight of the stone. In the international market Rapaport Diamond Report fixes diamond prices. This price is updated every Friday. The Nepali market also follows the same report for determining local prices.
What are the things that buyers should consider while buying diamond jewelries?
First and foremost is; they should always buy through the trusted jewelers. Besides, they should ask the store to show them the diamond test to confirm it is diamond and not other stone. They must always measure the weight. The customers should keep in mind the clarity and color of diamond. Also, customers should not forget to ask for quality certification and guarantee.
Customers are worried that there is no resale value for diamond. Is it true?
Well, we do not deduct any price if the customers bring the jewelries that they bought from our store for resale. If you have quality certification of the product, you will be paid as per the market value.
You have two outlets in the US, but only one in Nepal. Are there any plans of opening new outlets?
Yes, we are planning to open new outlets in 2013. However, we have not finalized the location in Kathmandu. We are also preparing to open new outlets in Pokhara and Dharan, as the demand for diamond jewelries is high in these cities.
Related story
Classic Diamond Fashion Show Begins
