Although initially viewed with skepticism, all four strategies of the last decade led to tremendous growth in the 2000s, enabling Venus Jewel to dominate the nascent online market for large diamonds and ensure its financial stability during markets lean and strong.
During this decade, Venus Jewel tested and adapted new technologies while continuously redesigning the manufacturing processes, allowing for a "new normal" in product and service standards to be one of continuous improvement and enhancement of technology process and services.
The key to the success of all of these strategies is the trust Venus Jewel has continued to build with its customers, a trust built on the company's demonstrated integrity in its business dealings, transparency in its detailed descriptions of its diamonds and fairness in its pricing. Consider a jeweler creating a necklace. By sharing the exact size and extent of every inclusion in each of its diamonds, Venus Jewel helps that jeweler select the gems that best suit the design. Through these efforts and many others, large and small, Venus Jewel continues to build on a legacy of trust, resulting in a loyal customer base that embraces the wide-ranging innovations initiated by the Shah family.
In 2002 Venus Jewel completed the state-of-the-art manufacturing facility in Surat, providing a world-class work environment for its artisans, enabling scalability and allowing for innovation to remain an essential pillar of our business supporting our clients and their customers.
In 2006, Venus Jewel became the first manufacturer to publish a detailed report for every diamond they polished. The all-encompassing Venus Grading Report (VGR) includes the detailed results of a diamond's evaluation via the Venus Grading System, along with a complete mapping of the diamond's inclusions that is far more realistic and refined than conventional symbolic representations.
Reports like these are typically provided by third-party institutions that have gained the trust of the industry, such as GIA, HRD and IGI, but ours is the first report by a polished diamond manufacturer to be accepted as an unbiased standard for some of the industry's leading websites for diamond sales. We were also the first manufacturer whose standards were accepted in the search engines for these sites, which have more than a million diamonds up for sale at any one time.
In 2008, as the global recession led many in the diamond industry to halt production and furlough their workers, Venus Jewel retained all its employees at full pay. While others cut back, Venus Jewel devoted itself to cross-training workers and strengthening the quality and precision of its rough diamond planning and polishing processes. As the economy recovered, Venus Jewel was once again poised to supply a market eager to enjoy. This skillful dexterity caught the attention of the nation's premier management institution (IIM), who conducted an in-depth research into the management techniques which distinguishably stood the test of time to emerge more successful and strong. The IIM published their study in the Jul-Sep 2009 issue of their journal, 'Vikalpa'.