When Ninos jewellery first came out, it was one of the hottest trends in the fashion world.
Since then, the company has changed hands over the years, but it’s still making the clothes and jewellery it always has.
So how does Malani end up in the company’s roster of employees?
The answer, it seems, is that Nines is in debt, so it has to pay out a massive amount to creditors.
The debtors include Ninos founder and CEO, Nina Khader.
The debts are mounting: Nines has around $3 billion in outstanding debt to creditors, according to a letter to the creditors obtained by Quartz.
Nines’ creditors also have claims to around $5 billion in unpaid royalties, according the letter.
Ninos was founded in 2010.
It has sold around 2.4 million pairs of Malani’s jewellery since then.
Nines is not alone in facing debtors, according, to Quartz, in a report from the International Monetary Fund.
Another major player in the jewellery industry, Louis Vuitton, has about $2 billion in debt.
The debtors are also not alone.
The world of jewellery is in turmoil.
Last year, the International Organization for Standardization (ISO) revised its guidelines for what constitutes a good quality piece of jewry, to make sure it’s a good investment.
The new guideline calls for a minimum of 50 per cent of the product’s value should be from natural or mineral materials.
But the new guideline also calls for 50 per of the total price to be from a natural product, including jewels, but not to include diamonds, gems and gemstones.
The guideline is set to be finalised next year.
According to the latest data from the World Economic Forum, global jewellery prices were up about 6 per cent in 2017, and the number of pieces sold has increased more than 80 per cent.
While there are no firm figures for the total amount of jewelled goods sold, a Reuters poll found that jewellery sales are increasing rapidly.
Some people have been selling their jewellery at a discount to the average person, which makes the problem of debtors even worse.
The company has not said when it will repay the debts, and it’s unclear how much it will owe creditors.
The IMF says it has no plans to impose new rules or regulations on jewellery producers.
But it is considering whether to call on the International Finance Corporation (IFC) to intervene in the debtors’ cases, Reuters reported.