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Gitanjali Gems merges its step down subsidiary with Imacbc

22 Apr 2013 Evaluate

Gitanjali Gems, one of the world’s largest integrated jewellery manufacturers, has merged its step down subsidiary Gems London Co. with Tokyo based Imacbc Co.

Gitanjali Gems held 30% stake in Gems London Co. through its Hong Kong based wholly owned subsidiary, Aston Luxury Group. Currently, Gems London is one of the largest sellers of jewellery through its TV channel, Gems TV in Japan. Its revenues for the financial year 2012-2013 exceeded $ 90 million.

Gems London Co. was merged with Tokyo based lmacbc Co. with effect from April 10, 2013. After the merger, Imacbc shall become completely integrated company from sourcing raw material from Thailand and China, manufacturing in two facilities in China, to retailing in Japan.

In addition to selling through Gem TV, the merged Imacbc plans to expand its existing jewellery retail network in Japan. The combined revenue of consolidated business is expected to be more than double in next 2 years.

 

Peers
Company Name CMP
Titan Company 4589.45
Kalyan Jewell.India 534.50
Thangamayil Jeweller 6629.45
Rajesh Exports 89.00
Senco Gold 374.65
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