RAPAPORT... Polished diamond supplier and jewelry manufacturer Rosy Blue signed an agreement with Sky Jewellery as the major's retail partner for the Asta brand. Sky Jewellery holds the rights to represent Asta across the United Arab Emirates and Qatar.

Rosy Blue contends the Asta collection was designed to meet the tastes of a range of women in the region, from Arab and Asian communities to Western expatriates, from all Sky Jewellery outlets. The Asta collection, made of simple and dainty diamonds, is available in 18-karat white and yellow gold.

"Rosy Blue's venture in the branded jewelry segment demonstrates the same level of innovation and commitment that the company is known for as one of the leading diamond manufacturers in the world. The designs are eye-catching and unique and appeals to the style and tastes of women across all nationalities and age group," said Babu John, managing director of Sky Jewellery.

With a sales target of $300 million for the region in 2007, Rosy Blue aims to capture 15 percent of the branded jewelry market share by year 2011. The company's global sale of loose diamonds reached $1.7 billion in 2005, and is set to achieve a global sales target of $2 billion in 2006.

"We are excited to be associated with Sky Jewellery, who will represent us in two of our crucial markets - UAE and Qatar. With more than two decades of experience in the retail line, Sky Jewellery has the skills and infrastructure that make them the perfect choice for Asta, one of our key brands," said Harshad Mehta, chairman of Rosy Blue FZE.