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Gitanjali Gems’ arm acquires 100% stake of 'Crown Aim'

05 Dec 2011 Evaluate

Gitanjali Gems’ wholly owned subsidiary - Aston Luxury Group has acquired 100% stake of 'Crown Aim' ('Crown Aim') on December 02, 2011. Pursuant to this acquisition, Crown Aim has become a step down subsidiary of the company.

Crown Aim is a Hong Kong based company engaged in the business of distribution of jewellery to China, Japan, USA, Middle East and Europe. In addition, Crown Aim has a jewellery manufacturing unit in China and plans to setup retailing of jewellery in China. Crown Aim also has a 100% subsidiary with the name Alfred Terry Holding and a step down subsidiary named Alfred Terry in London, for distribution of jewellery in UK.

Alfred Terry is 45 years old company and has a wide distribution to chain stores and independent presence in UK. It covers nearly 2,000 jewellery shops.

Gitanjali Group's has operational presence starting from sourcing of rough diamond, cutting, polishing and distributing, to jewellery manufacturing, which includes designing, mould making, wading, casting, sprue grinding, filing, polishing and setting. The company was first to offer diamond studded jewellery at reasonable prices.

Peers
Company Name CMP
Titan Co 4512.90
Kalyan Jewell.India 417.30
Rajesh Exports 121.98
Senco Gold 324.10
Thangamayil Jeweller 4129.85
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