Mumbai, 16th February 2017: High quality diamond jewelry has finally become affordable and accessible for everyone. Muthoot Exim Pvt Ltd., the precious metals division of the 130- year –old business conglomerate Muthoot Pappachan Group, has launched a Swarnavarsham diamond jewelry in association with Divine Solitaires Pratham diamonds. The launch was graced by dignitaries from both Muthoot Pappachan Group and Divine Solitaires which include Mr. Thomas Muthoot (Executive Director, Muthoot Pappachan Group),) Mr. Keyur Shah (CEO, Muthoot Precious Metals Division), Mr. Jignesh Mehta (Founder and Managing Director, Divine Solitaires), Mr. Shailen Mehta (Co-Founder and Director, Divine Solitaires) and Mr. Hitesh Mehta (Director, Divine Solitaires) amongst others.
Initially, to begin with Muthoot Exim in association with Divine Solitaires, is offering 18-Karat gold ring studded with 0.14 cents diamond of EF color and VVS clarity. This ring is being offered in three sizes- 12mm, 14mm and 16mm with the weight of gold as 2gm, 2.2gm and 2.4gm respectively. More variants of diamond studded gold Jewelery will be launched subsequently. Laser inscription of unique identification code is available on every diamond. Muthoot Swarnavarsham diamond jewelry with Pratham diamonds which is an extension of the parent brand Divine Solitaires is available in tamper proof see through packaging and comes with a Quality Guarantee Certificate & Buyback Guarantee.
Muthoot Exim’s Swarnavarsham Diamond Jewellery will be available initially at 76 branches of Muthoot Fincorp Ltd., which is the flagship company of Muthoot Pappachan Group, and one of the largest NBFCs in India, registered with the Reserve Bank of India. The Muthoot Fincorp branches in Ahmedabad, Bangalore, Chennai, Coimbatore, Delhi, Madurai, Mumbai and Vijayawada locations will showcase the diamond jewelry in the first phase of launch.
Mr. Thomas Muthoot, Executive Director, Muthoot Pappachan Group, said, “Diamonds are forever and every Indian desires to own them but many feel that it’s a luxury beyond reach. In a pioneering initiative, the Muthoot Pappachan Group Company Muthoot Exim Pvt Ltd., is now introducing an innovative offering – Swarnavarsham Diamond Jewellery with Divine Solitaires Pratham diamonds, which enable customers to purchase assured high quality diamond jewelry through easy monthly payments. We want to make quality diamonds affordable and within the reach of every Indian. Our focus is to empower underprivileged sections of society to buy and own diamonds and realize their dreams. The Swarnavarsham Jewellery with Divine Solitaires Pratham diamonds will be available initially at 76 branches of Muthoot Fincorp Ltd across 9 cities.’’
Customers can choose to buy the jewelry from various payment schemes offered as follows: 1) One month scheme: Customers can make entire payment in one shot and book the jewelry; and 2) EMI schemes: Customers can choose to make payment towards jewelry in monthly installments of 3/6 months. 20% of the invoice must be paid as down payment and the balance in EMI’s. The price of gold and diamond in the jewelry will be frozen at the time of booking and any further changes in prices will not affect customer. Delivery of the jewelry to the customer will be effected only after completion of full payment.
Mr. Keyur Shah, CEO, Muthoot Precious Metals Division, said, “Muthoot Exim has set new standards of innovation, excellence, affordability and accessibility with Swarnavarsham gold jewelry and Swethavarsham silver articles. And now we present Swarnavarsham Diamond jewelry in association with Divine Solitaires Pratham diamonds – a revolutionary product with Buyback Guarantee for the masses. Buyback of solitaire diamonds will be offered at 90% of prevailing rates as per Nationwide Standard & Transparent Price List, which makes it very transparent process. Buyback will be facilitated through our Muthoot Gold Points – the first National level organised sector that allows you to sell your gold in a transparent and efficient manner. One year free insurance is also being offered on Divine Solitaires Pratham diamonds.”
Mr. Jignesh Mehta, Founder and Managing Director, Divine Solitaires, said, “Gold Jewellery have always lured the masses across India because of its affordability, accessibility and transparency, unlike diamonds which have been though highly aspirational in the Indian culture. As a pioneering step, Divine Solitaires have revolutionized diamond buying by introducing Pratham diamonds, an extension of Divine Solitaires in association with Muthoot Exim’s Swarnavarsham Jewellery that now provides the same affordability, accessibility and transparency while buying the best quality diamonds by the masses across the country. Based on a stringent check on 123 parameters and guaranteed Hearts & Arrows craftsmanship in each & every diamond, Divine Solitaires Pratham Diamonds are guaranteed to be the brightest & most magnificent diamond. Divine Solitaires also brings in pricing transparency through its ‘Nationwide Standard & Transparent Price List ‘ and also provides Buyback and Upgrades that give the benefit of price appreciation to the consumers. Current Prices can be tracked anytime on the Divine Solitaires mobile application. So buying diamonds is now made easier with Divine Solitaires Pratham diamonds that symbolizes the stepping stone towards a better future, be it in career, marriage, business or personal life. We are very happy & excited to partner with Muthoot Pappachan Group.”