Executive Summary – Introduction
Zyana DMCC (the “Company”) is a Free Zone Company incorporated in May 2018 and registered in Dubai Multi Commodities Centre, Dubai – United Arab Emirates.
The registered office of the Company is at Unit 703A, Mazaya Business Avenue AA1, Jumeirah Lakes Towers, Dubai, United Arab Emirates.
The Company has a trading license, and is engaged in trading business. The management and control of the Company are vested with the Managing Director Mr. Rajiv Jhunjhunwala, an Indian National. Click Here to Download his profile.
The Business and operations
As stated in the executive summary, the Company is engaged in trading business of various products. As per the trade license, the Company can engages in trading of following products:
- Jewellery
- Pearls and precious stones
- Non manufactured precious metals
However, the primary activity of the Company has been trading of precious stones and jewellery. The Company also trades in jewellery and supply to showrooms and e-marketing retailers.
The operations consist mainly of sourcing of precious stones, pearls and diamonds of all grades, sizes, shapes, and colors and supplying the same to other diamond distributors and also to jewellery manufacturers.
The Company hires assorters and quality controllers, as required, to have complete control over its supplies and inventories. The value of inventories generally ranges between AED 10mn and AED 15mn. The Company maintains a highly secure facility from which to hold, package, and distribute its inventories.
These are assorted and supplied to manufacturers/traders who require particular shapes/sizes/qualities.
The Market Analysis
It is no secret that the diamond business has been occasionally riddled with controversies and problems. The distribution portion of the industry historically has operated on an oligarchy system, with De Beers controlling a significant portion of the market. In the mid-80s, De Beers controlled more than 90% of the known aggregate rough diamond supply. Today, De Beers only controls a 45% to 50% market share.
This is primarily attributed to the fact that many diamond mining companies have started operations, and/or have begun to directly market rough diamonds into the open market at prices that are equally competitive to De Beers.
Secondary issue to the diamond market is the importation of diamonds that come from war-torn areas. The Company has several policies in place to ensure that the Company only purchases diamonds from reputable domestic and international wholesalers that certify that none of the diamonds/precious gems purchased by the Company come from geographic regions that are financed by “conflict” diamonds.
Dubai has strategic importance in terms of its geographical location and provides a very safe, efficient and clean environment, attracting more and more people to visit/settle/invest here. It is easier / comfortable for customers/tourists from all over the world to visit for buying/meetings/investing. The Company has established itself to take advantage of Dubai’s unique place in the world.
Future plans and Strategy
First and foremost, the Company plans to continue building relationships with other diamond distributors, pearls and stones traders, jewellery manufacturers and jewellery retailers and develop an interactive online website so that the Company’s target clients can easily find the Company’s contact information, information related to stock on hand, making bulk/retail sales easily possible/functional. The Company also plans to hire an internet marketing firm to place the Company’s URL address in the proper directories among jewellery industry websites.
The Company is also looking forward to trade in other licensed products i.e. watches, crystal products and gift items, by exploring import opportunities from China, Taiwan, Korea and India, to be marketed to local retailers as well as to export to countries in Africa, Europe and North America.
The Management will also take part in local and international trade shows, both B2B and B2C. It will also regularly attend industry events like conferences and seminars. That will allow the Company to network among potential clients.
Management Team
The Company has a capable team to run all its business activities, with clearly defined roles and responsibilities, as follows:
