Gitanjali Gems plans to acquire Italian jewellery house

Gitanjali Gems, the country’s largest integrated diamond and jewellery manufacturer and retailer, plans to acquire 100% equity in a leading Italian jewellery house by the end of next month, which has presence across Europe and Arabian markets. Gitanjali Gems runs over 130 retail jewellery shops in the US and 2,500 sales points in India.

The Italian brand acquisition will help it to penetrate global markets and introduce new jewellery designs with light weight, especially in European and the Middle East markets, where it had earlier failed to gain foothold. If the deal materialises, this would be third mega acquisition by Gitanjali Gems. It had acquired after Samuels Jewelers and Rogers, both US-based, in 2007.

Gitanjali is currently in the process of evaluating their factory, retail chains and distribution networks to conclude feasibility study on valuation. The process will overcome soon to clear the road leading to final decision.