Business Description:Diamond Technology Solutions started with Technology and E-Business Consulting for the Diamonds and Jewelry Industry.
It is currently setting up its own Online and Phone-Based Service to sell Diamonds and Jewelry. It is focused on educating buyers about the 4Cs (and more) of Diamonds and helping them make an informed decisions in an industry that currently sells solely based on an overused term called "trust".
Diamond Technology Solutions? launched the Service under a temporary brand name - DiaTree.com (Phone service at 022 2387 6838). DiaTree offers 20,000 Large Solitaire Diamonds that are certified by Globally recognized labs that are sourced directly from manufacturers.
Industry:Gems and Jewellery
Founded in:2006
Source of idea:Systematic search for business opportunity
Significant Competitors:bluenile.com, jamesallen.com, suratdiamond.com, mondera.com
Company Details :
Company Name:Diamond Technology Solutions
HeadQuarters:Mumbai
Stage of the company:Have first customer
No of Employees (2006):0-5
No of Employees (2007):6-15
Office Locations(2006):0-1
Office Locations(2007):0-1
No of companies promoted:No
Profits (2006):Did not exist
Profits (2007):Did not exist
>Partnerships:We have partnered with several some of the largest Diamond companies in India as well as Global B2B Diamond listing companies. With the family business being in the Diamond manufacturing field and located in the heart of the Opera house Diamond District in Bombay, allows us to source and deliver Solitaire Diamonds in the most efficient manner. Our strong tie-ups in the industry allow us to offer a large selection of Diamonds at the most competitive prices.
Initial Funding:Personal savings
Addl Funding:Family & friends
Institutitional Capital:No
Revneue Model:DiaTree made its first sale in August 08, that of a 1.51ct Round Brilliant Cut Diamond mounted on a Classic Engagement Setting to a customer based in NY for a price of $13300.
Since we would like to focus on the global market in the long run, our typical buyer (and thus target audience) will be a 25-year-old male buying an Engagement Ring for his girlfriend. However, we are currently focusing on the Indian market, where the target audience would be focusing on occasion specific (weddings) buys as well as investment related buys from the luxury consuming audience.
DiaTree finds its strengths from being close the Diamond Manufacturers and follows the of zero-inventory model with low operational cost. This enables us to be committed to offering our customers the best service and products at the best price available in the global market.
Awards & honors:(Tata NeN Hottest Startup) - We hope this will be a first of many
Promoters Details :
Promoters Name(s):Kashyap Mehta
Age:27
HomeTown:Mumbai
Education:Bachelors University of Virginia
No of companies promoted:No
Family Background:Business
Job:Lead Animation Engineer at Electronic Arts (EA Sports)
Ex-Job Description:Physics and Animation Programming
Favorite Book/Movie:Angels and Demons
