Asian Star Company began in 1971 as a single diamond-cutting unit in Surat and spent five decades building a complete “mine-to-market” chain - it now sources rough stones directly from the world’s biggest miners, cuts and polishes them in its own factories, sets them into finished jewellery, and sells to global brands and, at its own Mumbai boutique, directly to consumers. The company became one of India’s first listed gems and jewellery businesses in 1996, and its recurring approach has been to add the next link in the value chain using the cash and credibility of the one before: first mastering diamond manufacturing, then layering on jewellery production, and finally opening a retail endpoint. Everything it does rests on a reputation for cut quality - its polished stones are known in the trade as “Asian Star Make” - and on a distribution network that puts offices in every major diamond-consuming city on earth. # Business segments Three engines stacked along a single value chain - a diamond factory that supplies the world, a jewellery workshop that turns those stones into branded and private-label pieces, and a single couture boutique that completes the journey to the consumer. ## 1. Diamonds: the legacy factory that feeds everything else **The company’s core is a 100,000-square-foot cutting and polishing plant in Surat where over 1,000 artisans turn ethically sourced rough diamonds into polished stones that carry a globally recognised quality mark.** - **Direct mine access** - it buys rough diamonds straight from leading global miners, including De Beers and ALROSA, and participates in mine-origin programmes such as De Beers Forevermark and Canadamark, so every stone comes with a documented ethical pedigree. - **“Asian Star Make” is the moat** - the company’s polished diamonds are known worldwide for consistency in cut and quality, a reputation built over more than fifty years that lets it command preference from wholesalers and jewellery brands. - **Proprietary cuts that competitors cannot copy** - beyond standard round brilliants and fancy shapes, it produces exclusive cuts including the “Asian Star cut” and the “EX-EX-EX Hearts & Arrows cut,” which function as branded products inside a commodity market. - **Small stones, steady demand** - the business concentrates on smaller-sized diamonds, which insulates it from the slowdown in Chinese demand for large stones because the customer base and price points are different. - **Traceability as a selling tool** - its in-house ‘ROOTS’ programme maps each diamond’s journey from mine to market, giving buyers an assurance that is increasingly demanded by retail chains and end consumers. ## 2. Jewellery: the value-added layer built on top of the diamond stock **The company runs three factories that turn its own polished diamonds into 750,000 finished pieces a year, serving international brands as a private-label manufacturer while also developing its own collections.** - **A factory network with export and domestic split** - two units in Mumbai’s SEEPZ special economic zone serve only international markets, while the MIDC and Hosur plants cater to domestic demand, giving the company separate duty-advantaged production lines for each customer type. - **A design library of 30,000 styles** - its three in-house jewellery manufacturing facilities maintain a database of over 30,000 designs spanning bridal, fashion, solitaires, ceramic fine jewellery, and men’s Cuban-link pieces, so brand clients can pick from a vast catalogue or commission bespoke work. - **Private-label partner to global retail** - the company manufactures and distributes specialised jewellery for designer brands and private labels, acting as the invisible factory behind leading jewellery retail chains worldwide. - **Mass production meets custom craftsmanship** - large-scale manufacturing capacity gives it a cost edge on volume orders, while expert artisans can simultaneously deliver highly bespoke, one-off pieces for luxury clients. - **Its own label, “Tryyst”** - the company launched an exclusive private jewellery label from the House of Asian Star, described as timeless elegance, which lets it test brand-building without competing directly with the retail customers it supplies. ## 3. Retail: the single boutique that closes the loop **A couture diamond jewellery store in Mumbai serves as the company’s direct window to the end consumer, offering ready-to-wear pieces and bespoke design consultations for high-net-worth individuals.** - **A showcase, not a chain** - the single boutique displays curated collections and takes customised orders for special occasions, functioning more as a live showroom for the company’s manufacturing capability than a mass-retail play. - **Personalised for the elite** - it provides one-on-one jewellery design consultations for bespoke pieces, targeting HNIs who want a direct relationship with the maker rather than buying through a brand intermediary. - **“Rendezvous Luxe” as an annual client event** - the company organises a yearly couture diamond jewellery extravaganza for Mumbai’s elite, which builds a loyal local clientele and generates high-margin custom orders. # Group structure and partners **The company reaches its global customers through three wholly owned trading subsidiaries in the world’s largest diamond markets, supported by a network of 22 marketing offices and a captive processing associate.** - **Three trading outposts** - wholly owned subsidiaries in the USA, UAE (Asian Star FZCO, renamed from Asian Star DMCC in mid-2025), and Hong Kong give the company direct sales presence in North America, the Middle East, and East Asia. - **A 22-office global marketing network** - beyond the three subsidiaries, the company maintains strategically located offices in Antwerp, Shanghai, Bangkok, Singapore, and across Indian cities including Surat, Mumbai, and Chennai, putting sales staff close to every major diamond-consuming hub. - **An in-house processing associate** - Shah Manufacturers, an associate firm in which all partners are directors of Asian Star, performs diamond processing on a job-work basis, effectively giving the company flexible manufacturing capacity without full ownership. - **A non-core real-estate joint venture** - Ratnanjali Infra LLP builds commercial and residential complexes in Ahmedabad, a legacy diversification that sits outside the gems and jewellery value chain.