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Gitanjali Gems buys Italian jewellery chain

04 Apr 2011 Evaluate

Gitanjali Gems Ltd, the country’s leading branded jewellery producer, has acquired leading Italian jewellery chain Giantti Italia for $15 million. Giantti has leading jewellery brands under its chain, which include Valente, Stefan Hafner, Nouvelle Bague, Io Sì and Porrati. The Italian brand acquisition will help the company penetrate global markets and would allow Gitanjali to introduce new light weight jewellery designs especially in European and the West Asian markets, where Indian brands could not make a stronger foothold earlier. This was the third mega acquisition by the Indian jewellery firm after Samuels Jewellers Inc and Rogers, both US firms, the company acquired in 2007.
The group now has a business with a complete, vertically-integrated vision: from the processing of diamonds and precious stones, it is a Diamond Trading Company (DTC) sight holder, to the production of jewellery. It owns the D’damas, Nakshatra and Gili brands in addition to the retail distribution of lifestyle brands in India, the USA, the UK, Belgium, Italy, the West Asia, South East Asia, China and Japan, through an international network of retail outlets that it either owns or manages directly.

Peers
Company Name CMP
Titan Co 4226.95
Kalyan Jewell.India 362.20
Rajesh Exports 104.65
Senco Gold 344.45
Thangamayil Jeweller 5522.20
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