The heir of world’s largest gold processing company talks about the next strategic move and associated expectation
Anyone who is constantly associated with the gold market is bound to know the position and dominance of Rajesh Exports. Founded in 1989 by Rajesh Mehta, Rajesh Exports adapted with changing regulations of the noble metal and gradually became the world’s largest gold processing company. While Prashant Mehta has been actively involved in the company, it became a quintessential family business with the inclusion of Siddharth Mehta.
The son of Rajesh Mehta, Siddharth entered Rajesh Exports as any other employee in the 2000s. This came after his attempt to understand the company inside out by beginning from an executive level. Arguably, the Valcambi acquisition was his initial large scale project, on which he successfully helped Rajesh Mehta and the company fulfill their three year old vision.
In 2011, the IT Team of Rajesh Exports was set up and Siddharth is the current head of the unit. In addition, he is the Chief Strategist of Rajesh Exports. When asked about his vision for the company’s future success, he said, “We aim to dominate the South Indian jewelry segment in India. With our retail arm, SHUBH Jewellers, not just expansion but other plans are also on the cards.” SHUBH currently has more than 80 stores across Karnataka and deals in authentic, aesthetic South Indian jewelry.
“The upcoming couple of years are going to witness a big announcement from Rajesh Exports,” added Siddharth Mehta. It is speculated that he is hinting towards the project that eyes the entry of Rajesh exports in the e-commerce industry. “It is my pet project,” said Siddharth Mehta as reported by The Economic Times.
This is also supported by the recent Rs 933 crore order bagged by Rajesh Exports from UAE. Rajesh Mehta revealed that this order was procured because of a new line of jewelry introduced by the company.
Provided that the company gets the timing of their announcements right, not only their stocks are expected to take a substantial jump, but also their market value and business presence will receive impetus with the combined efforts of the father-son duo.