Gitanjali Gems eyes Italian jewellery house

Gitanjali Gems, the country’s largest integrated diamond and jewellery manufacturer and retailer, is considering acquiring a leading Italian jewellery house by the end of next month.

The company is aspiring to acquire 100 per equity in a leading Italian jewellery house. The negotiation talks are on the final stage.

Gitanjali is aiming to introduce new jewellery designs in the indian market. If the deal materialises, this would be third mega acquisition by Gitanjali Gems.

“We are 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,” Chairman Mehul Choksi said.

Gitanjali Gems, is housing brands like Nakshatra, Gili, D’Damas, Asmi, Gitanjali, Sangini, Gianti - store, Dia etc, plans to introduce each brand as a separate entity, with a minimum of 50 retail stores in India in a couple of years.