Sky Gold acquires land for manufacturing facility to boost production

Sky Gold and Diamonds Ltd has acquired 10,500 square meters of land for a manufacturing facility to boost its production capacity.

The company plans to develop a 5,40,000 sq ft facility on this land to enhance its production capacity by 4.5 tons kg per month.

With this acquisition, the company aims to strengthen its market presence and expects the enhancement of its manufacturing to fuel its growth in the country’s jewellery market.

“This expansion aligns with our long-term strategic objectives and will strengthen our market presence. We have initiated the planning and development phase, and business operations are expected to commence by 2027, upon completion of the necessary infrastructure and facility setup,” Sky Gold said in a statement.

“This acquisition is in line with our strategic growth plans, and we believe it will positively impact the Company’s operational capabilities and overall market position,” it added.

Founded in 2008, the Mumbai-based Sky Gold works on business-to-business model with leading jewellery retailers like Malabar Gold, Joyalukkas, Kalyan Jewellers, Senco Gold among others.