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06/03/2015

Investment pays off for Diamond Centre Wales as turnover rises by 20% in last two years

Turnover has increased by 20% in the last 2 years at Diamond Centre Wales, the family owned diamond merchant based in Talbot Green near Cardiff.

A package of loans from Finance Wales and the company’s bank, Lloyds enabled owners Kelvin and Sharon James to expand the business they started in 2004.
 
In addition to improving their workshops and customer facilities, the husband and wife also used the funding package, which included a £70,000 loan from Finance Wales, to change suppliers, take on 2 staff and ramp up its marketing.

New marketing campaigns have increased business from existing customers and helped the company win new corporate clients.  Growth has also been good news for the network of local craftsmen and designers that work with Diamond Centre Wales.

Diamond Centre Wales has established a reputation for selling high-quality, bespoke jewellery at prices up to significantly lower than the high street while providing customers with a unique purchasing experience.

“We’ve built our business by providing customers with high-quality precious metals and gemstones, individual designs as well as expert, friendly customer service.  We’re passionate about creating jewellery our customers will treasure forever and aim to make their purchasing experience as special as possible.

“Investing in our business with the backing of Finance Wales and Lloyds over the last two years has really paid off and Diamond Centre Wales is now in a much stronger position.  We’ve implemented changes to key aspects of our business, such as opening our new Diamond Lounge, which has enhanced our overall service and really appeals to customers,” Sharon James explained.

Having spent most of their professional lives in the jewellery industry, Kelvin and Sharon have focused on encouraging their loyal staff.  They are keen to ensure Diamond Centre Wales is in a strong position when they eventually retire and hand over the reins to their daughters Siantel and Kara who also work in the business.

They’ve also worked hard to develop the company’s responsible business credentials and are committed to working with local suppliers and developing local talent.  They have developed a relationship with a budding designer who has gone on to train at the school of jewellery in Birmingham.

Diamond Centre Wales also supports numerous local charities, including Tenovus, Breast Cancer Wales, Macmillan Cancer Support and Childrens Therapy Centre Wales.  It only sources diamonds according to the Kimberley Process Certification Scheme which ensures that the stones are ‘conflict-free’.

Cenydd Rowlands, Senior Investment Executive based at Finance Wales’ Cardiff office made the original investment from the Wales JEREMIE Fund and Portfolio Executive, Matthew Pugh has worked with the company as they’ve implemented their development plans.  He said: “Kelvin and Sharon have a wealth of expertise and experience and their passion and enthusiasm has been key to building a successful business.  They’ve capitalised on the growing demand for higher-priced investment pieces and their desire to create the perfect experience for their clients has strengthened their reputation.

“They have a clear vision and knew how they wanted to expand their business using the funding package. The changes they’ve implemented have had a positive impact on the business and I’m pleased to see that sales are up since they received the investment and continue to be ahead of forecast.”

Following a successful Valentine’s Day, Diamond Centre Wales is now looking forward to brisk  Mother’s Day trade.
 
The Wales JEREMIE Fund is backed by the European Regional Development Fund through the Welsh Government and the European Investment Bank under the European Commission's Joint European Resources for Micro to Medium Enterprises (JEREMIE) initiative.

The market for jewellery in the UK grew consistently between 2009 and 2013 and is currently worth around £3.07 billion a year.