Kiran Gems Continues Restructuring, Offloads U.S. and Hong Kong Firms

13/04/2017 12:45

Kiran Gems, based in Surat, India, which is said to be the world's largest diamond manufacturing firm and among the top three jewelry suppliers to the U.S., is continuing its corporate restructuring by offloading several subsidiaries in the U.S. and Hong Kong. Kiran Jewels Inc., Unique Design, SDIL and Prestige, which are located in the United States, and Kiran Export Hong Kong will no longer belong to the Kiran Gems Private Limited group of companies. The company's announcement states that the restructuring will technically end all the relations between these companies and Kiran Gems Pvt. Ltd, which continues to be De Beers GSS (International) Sightholder. All of the entities will continue to function as normal independent businesses in their respective geographies.

Kiran started the restructuring back in September when it let go Kiran Exports BVBA, a is Belgium-based company. Kiran Exports primarily deals in rough diamonds and sells polished diamonds to the European market. Kiran Gems is a preferred diamond supplier to some of the biggest and most well-known brands and jewelry and watch companies, claiming to produce1.6 million carats of polished diamonds annually from over 5.7 million rough carats. Kiran Exports Bvba was founded in 1996 in Antwerp, Belgium and is a RJC certified company.