Aurex Holdings, jeweler from Zimbabwe, said that the local market it is difficult to grow their business because of lower incomes and overall liquidity in the country.
NewsDay quoted CEO Paipu Munhumutemu (Paipa Munhumutema), who said that the jewelry manufacturer was forced to step up efforts to sign partnership agreements with international players.
Aurex said its share is only slightly increased in the market, despite a 50 percent increase in their wedding jewelry business, forcing the company to shift its focus on the international market.
Munhumutema said that jewelry company is in talks with "famous player" in the international diamond industry, which will help it gain a foothold in the international market.
"This is an area that takes a long time to grow, because we have to agree to enter the market with its international partners. Over the past year we have focused on signing a technical partnership agreement with a company that will help us to gain a foothold in the international market. We have nearly completed negotiations one technical partner, which we hope will give us access to the international market, "- he said.
"In terms of different products, there are fashion jewelry and bridal jewelry. At the wedding jewelry market, I think we have a large market share, and more than 50 prodtsentnuyu share in terms of presence in this market (in Zimbabwe), but this is the market where we need to do more, "- he added.
Aurex, a wholly owned subsidiary of the Reserve Bank of Zimbabwe, has eight retail stores across the country.
The company buys diamonds at auctions Minerals Marketing Corporation of Zimbabwe and Murowa, and then carries out facet for subsequent sale.
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