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SourcingApr 08, 2015
White Pine opens Mumbai office
White Pine Trading is increasing its emphasis on its Indian operations with the opening of a new location in Mumbai, marking its fourth internationally.
Mumbai--White Pine Trading is increasing its emphasis on its Indian operations with the opening of a new location in Mumbai, marking its fourth internationally.
Led by Director Hardik Shah, formerly with manufacturer Shrenuj, the new office will facilitate daily brokerage of White Pine’s recycled diamonds and supply from third-party clients in the United States and Europe to provide local buyers with faster access to diamonds.
It’s located at the Bharat Diamond Bourse in the Bandra Kurla Complex.
Coinciding with the office’s opening, White Pine India kicked off its 2015 diamond auction program with an event held on Feb. 16 to 19 at the Trident Hotel BKC, marking the company’s first diamond auction in India since 2013.
More than 160 companies attended the event, which featured more than 35,000 carats of melee diamonds primarily for manufacturing, as well as a large variety of mixed and assorted parcels of all qualities, shapes and sizes.
The company’s next Indian auction is slated for April 6 to 9 at the same venue, with at least two more sales to be held throughout 2015.
“We continue to focus on strategically augmenting our business and see significant growth opportunity in the region,” said White Pine CEO Ben Burne. “Hardik’s knowledge of the local market and expansive network of contacts will be a tremendous asset to White Pine India.”
In addition to its new Mumbai office, White Pine also has locations in Tokyo and Birmingham, U.K., as well as its headquarters in New York City.
It buys second-hand diamonds of all sizes and grades them both loose or set in jewelry, remanufacturing chipped, damaged and poorly cut diamonds. White Pine said it uses a large portion of these diamonds in jewelry and resells the rest to its network of retailers and manufacturers.
Its Jewelry Solutions division also provides consulting and other services to retailers, manufacturers, wholesalers and asset-based lenders in the industry.
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