Anita Diamonds CEO Chirag Shah joined the Rapaport Diamond Podcast to explain how the Antwerp-based polished dealer has achieved growth despite difficult trading conditions.
The company’s revenues have consistently increased around 15% each year, including in 2024, Shah reported. He outlined the business’s strategy of selling to a diverse range of clients, partnering on stones, and extending credit to others in the industry. The company stays flexible by not owning any manufacturing units or committing to long-term rough-buying contracts.
“A self-sustaining business without any cost is the best business model that exists today,” said Shah. “I’m not obliged to do any manufacturing, to buy any rough, to [have] any fixed cost[s].”
Anita began with a focus on small stones but has become a name in big diamonds, counting Belgian manufacturer HB Antwerp among its suppliers. The company also extends credit to others in the trade, giving it an additional source of revenue.
Speaking with Rapaport’s Joshua Freedman in mid-December, Shah gave his views on holiday sales and the current state of rough and polished trading, as well as his outlook for early 2025.
Listen to the full episode here:
This podcast is brought to you by GIA — the Gemological Institute of America — protecting consumers and supporting the global gem and jewelry trade since 1931 through research, education, and laboratory services.
