Exporter: Dama Jewelry Technology, Inc. – Johnston, Rhode Island
Destination: 18 Countries
Jobs Supported: 15
Dama Jewelry Technology, of Johnston, Rhode Island, a company of 30 employees, manufactures components for the fashion jewelry industry. When Dama obtained an Ex-Im Bank small business multi-buyer insurance policy in 1995, they had limited international sales. By 2011, they had established a diversified customer base, exporting to 153 buyers in 18 countries.
This international growth is reflected in Dama's insurance policy limits which have grown from $250,000 in 1995 to $600,000 in 2011. These figures are quite impressive as most of Dama's shipments are under $14,000. Exports are expected to slow down and only grow 10% over the next few years.
Exports now comprise 70% of Dama's sales with Hong Kong, South Korea and Thailand being its primary markets. Their international buyers sought open account terms just like Dama's United States' buyers. By extending credit, Dama demonstrated their trust in its customers.
"Foreign buyers want open account terms just like our U.S. customers. Plus, the insurance makes you sleep better at night," claims Marcos Fountoulakis, President of Dama.
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