Indonesia jewelry electricity Orori Ideosource recently announced that it received local Investment Banks more than millions of dollars of Investment, at the same time, the IMJ Investment Partners, East Ventures and 500 Startups are also involved in the round.
Orori is an electricity company registered in Singapore, Orori buy jewelry for sale and its web site, Indonesia is his main market. Company founder Budi Sumantri, according to the current financing of capital will be used to expand open up more areas, provide more services, he said, “we believe this round of financing will accelerate the growth of the company, we expect that by the end of next year in September, our profits will increase at least three times.
new investor representatives will join the board of directors of the company and to provide overall management and strategic direction, help growth. Sumantri claimed that the company will be in early 2015 for the next round of financing
at present, Orori provide jewelry such as gold, diamond jewelry and gold investment products represented. Remarkable is that Orori as a jewelry trading center and exist at the same time, offer similar second-hand jewelry trading platform, such as gold refining, gem pawn business. Sumantri plans to establish a new page in the next year, provided by the mobile terminal users more intuitive and personalized experience. Sumantri said at the same time, the mobile terminal has become the mainstream of Orori access mode.
Indonesia is the world’s demand for gold and diamonds, one of the largest five countries as indonesians, Sumantri family, was born in a jewelry grew up hearing his profound understanding of the people’s strong desire for jewelry. When it comes to the relationship between work and family, Sumantri so pour “my family now have multiple jewelry factory, a complete system of wholesale and retail, we in Israel, the United States, India, Belgium, mainland China and Hong Kong, China has a supply chain.”
in order to provide better customer experience, Orori cooperation with several Indonesia online banking provider. They at the same time for a particular credit card users with zero interest rates in installment payment business. Sumantri, claimed that the average indonesians in Orori consumed 23 million rupiah (about 11594 yuan). In may, Sumantri report to the board 99% of the sales and logistics is not a negative evaluation.
as a recognised Orori is the beginning of the jewelry store. In the process of operation, he noticed that the Indonesian electricity development, and so he made up his mind to will Orori electricity in 2012.
Orori of electricity transformation lets them in as little as possible to purchase entity under the condition of warehouse to expand their business. Sumantri simplify his relationship with suppliers in order to saving the cost of the entity, as of 2012, Orori team’s profits have doubled, to $2.1 million. Orori only profit of $1.3 million last year, Sumantri claimed that the decline in revenue is due to a new credit card daily business.
Sumantri claimed Orori concept in Indonesia market is unique, and their main rivals in Indonesia is still a physical store. He thinks is the most powerful competitors Orori foreign businesses, such as the Blue Nile and BlueStone in India.