Atit Diamond Corporation, a strategic partner of Shairu Gems Group, a DTC sightholder, [henceforth both companies are referred to as Shariu Gems Group] sells wholesale loose diamonds to major retailers and jewelry manufacturers in New York and throughout the United States.

One characteristic of the diamond industry as a whole is Shairu Gems Group is steeped in family ties.

“There was always a family link involved with the Shairu Gems Group,” Atit Mehta, Vice President of the United States Division, Atit Diamond Corporation says. “As a group we have two generations of the family working around the world. We have the older generation to look to for experience and wisdom as well as the new generation for innovative ideas and technological upgrades.”

Privately-owned and family-run, Shairu Gems Group works in unison to manage inventory levels and ensure quality goods. “As a group we strive to make sure unnecessary inventory levels do not get built up, especially after seeing a crash in prices during the recession.” A lean inventory reduces our carrying costs, allowing us to provide a cheaper product. Information about what is selling and what is not is constantly sent to the factory level. Stones that are needed and in demand are produced as opposed to unwanted shapes and sizes. Implementation of this new strategy has allowed for a more efficient supply chain and fulfillment of customer orders.

Shairu Gems Group began in 1976 and was located in Surat, a city in the state of Gujarat, India. Now headquartered in Mumbai, Shairu Gems Group generates $100+ million in revenue and employs anywhere from 2000 to 3000 people. Shairu Gems Group relies on cutting-edge equipment and capital investments to overcome its competition in the market. The Company operates four factories, the newest a 40,000 sq. ft. factory in Surat built in 2001. The integrated production capability enables the Company to produce more than 15,000 carats a month.

To produce quality diamonds desired by today’s consumer, Shairu Gems Group continuously
upgraded its cutting and polishing capabilities by working closely with GIA and Gemex to
perfect cuts in relation to light return. Shairu Gems also uses innovative methods such as a
helium rough, laser sawing and laser bruiting machines to produce a perfectly cut and polished
diamond.

Once the diamonds achieve accurate combinations of proportions, polish and symmetry, which
enables higher light return, the operation is inherently supply chain-focused.

The Company’s technological investments have allowed for them to go after programs where
the customer requires a better cut stone or a special cut stone. Over the last few years, they
have started to design exclusive cuts. For example, they cut a 162 facet round stone for a
retailer that has more than 300 stores. They have been involved in a lot of GIA EX/EX/EX
programs with different retailers. All this has only been possible with the new technology that the
younger generations have made available.

PEOPLE MANAGEMENT

Shairu Gems Group believes in investing in the lives of its employees as much as the capital
machinery.

Shairu Gems recognizes that employees are the cornerstones of the company’s success over
the past three decades.

Shairu Gems values its “hierarchy that allows an open line of communication, [where] our
employees are encouraged to voice their opinion without any misgivings on business matters.
The ‘Open Environment’ cultivated at Shairu Gems fosters a greater sense of belonging
amongst our employees and enables productivity and meritocracy to thrive in the organization.”

The Company allows their employees to improve their own skills in cutting and polishing.
Employees are able to train in different departments to improve their skill level and eventually
their pay. A regular cutter can take in-house workshops on his off days to eventually end up in
different departments such as Special Cuts that allow for a better pay.

In addition to an “Open Environment,” Shairu Gems provides employees and their families with
medical benefits, breakfast and lunch, mineral water, a pleasant working environment that helps
improve productivity, extensive in-house training, employees’ children with schoolbooks and
stationery, special lunches prepared during religious festivals, air-conditioned factory floors and
clean and safe working environments due to carbon suction systems.

In New York, Atit Diamond fosters the family bond atmosphere that creates an inclusive
environment. The goal is for no one to feel ‘left out.’ Atit Diamond experiences very little
turn over because many new hires are well known beforehand, eliminating any unknowns or
potential conflicts.

CORPORATE SOCIAL RESPONSIBILITY

Just as husbands enjoy giving wives diamonds, Shairu Gems Group enjoys giving back to
the communities in which they operate through corporate social responsibility programs.

Current programs include hospital and school initiatives. Shairu Gems and its partners are the
prime donors of the $17 million 'state of the art' 110- bedroom cardiac facility Shri Bachubhai
Dhayabhai Mehta Institute.

The Institute provides cardiac facilities in South Gujurat and will also support the “Out Reach”
program- to reach out and help the not so fortunate. The program sets up regular cardiac
medical detection camps, blood donation camps and general health camps throughout remote
areas of Gujurat. All Shairu Gems employees and their families have free access to the facility.

In the tribal village of Ambaji in the state of Gujurat, Shairu Gems built the Shri Bachubhai
Dayabhai Mehta Aarasuri Girls School. It is the first school designated just for girls and its main
mission is to provide education for girls who have been historically illiterate in order to integrate
into mainstream society.

ENVIRONMENTAL

Atit Diamond and supplier Shairu Gems’ products originates from the earth; it only makes
sense for the companies to reinvest in the earth. Shairu Gems grows between 6,000 and 7,000
trees each year to counteract India’s rapid urban transformation. Those trees are donated to
municipalities, individuals, schools and real estate projects.

Shairu Gems produces bags made of used newspapers with each bag symbolically sold for
one rupee. The goal is to reduce the use of plastic bags. Additionally, Shairu Gems has set
up a bird nursery to cure injured birds and adopt permanently handicapped birds at its factory.

The Company is also actively investing in renewable energy, energy-efficient manufacturing
technologies and rain water collection systems.
Atit Diamond Corporation works closely with its strategic supplier Shairu Gems to deliver quality,
polished diamonds to customers. The companies reinvest heavily into making the regions they
operate better and more polished at the same time.