In a bid to create better synergy within group companies, bring down costs and improve cash flows for unlocking value in future, Gitanjali Gems is planning to restructure its business. The company is consolidating its various subsidiaries which are into jewellery retail under different brands like Gili and Asmi besides exports.
The company has already received its Board approval for merger of its arm Gitanjali Exports Corporation (GECL) with itself.
Gitanjali Group is a 52-year-old company having stores outside the country including USA. It is only in the last few years that it is concentrating on retail markets to boost revenue. Gitanjali Jewels owns brands like Asmi, Diya, Gili, Nakshatra, Sangini and Parineeta.
