Gitanjali news and archive

Gitanjali Jewels plans retail expansion

Gitanjali Jewels has big retail expansion plans and that includes launching 60-65 stores mostly in small towns by the end of 2013. Keeping in mind rising incomes and demand in small cities, the company expects to rake in more business from these cities. Gitanjali Jewels’ Managing Director Santosh Srivastava, says they plan to open stores in...

Apparel

Gitajanli invests in Japanese firm Verite

Jewelry manufacturer and retailer, Gitanjali Group has confirmed that it has acquired 15.3 per cent stake in Japanese firm Verite for Rs 25 crores. In a BSE filing, it has said that the stake was bought through its wholly-owned subsidiary-Astona Luxury Group in Hong Kong. Gitanjali Group chairman and managing director Mehul Choksi said that the...

Apparel

Gitanjali launches first multi-brand flagship in Dubai

Gitanjali Group opened its first multi-brand store in Meena Bazaar, Dubai accompanied by a glamorous event at Mina Al Salam. Former Miss World and Bollywood actress, Priyanka Chopra, who is also the brand ambassador of Asmi by Gitanjali Jewels - inaugurated the showroom. The group also opened its largest multi-brand jewellery showroom in...

Trends

Suneet Varma shines at IIFA

Designer Suneet Varma and Gitanjali Group enthralled the audiences with a spectacular grand finale fashion show at IIFA Rocks in Singpaore recently. Celebrating the brand’s strong association with Bollywood and the eight year long standing alliance with IIFA, the fashion show oozed glamour and glitz making this year’s IIFA weekend a memorable...

Apparel

Gitanjali Gems, L Capital in fresh investment talks

Listed jewelry firm Gitanjali Gems has revived talks with L Capital, the private equity arm of the world’s largest luxury group LVMH, for a strategic investment. The two were in negotiations a year ago but talks had not progressed over the structure of the business. In the last one year, the company has been working on restructuring its...

Apparel

Gitanjali Gems’ 2nd Chinese acquisition in final phase

Gitanjali Gems, India’s largest jewellery retailer is in the final phase of closing its second acquisition deal in China. The formal announcement is expected in the next 2-3 months. In December 2011, it acquired Hong-Kong-based jewellery manufacturing company Crown Aim. The company is aggressively penetrating the country eyeing its lucrative...

Apparel

Gitanjali Gems to focus on small towns

Citing a huge potential in small towns, Gitanjali Gems, which has been on an aggressive expansion spree has decided to open 60-65 stores in the second half of the current fiscal year. The smaller towns are showing demand for branded wear with rising income levels and brand consciousness in these areas. These areas are experiencing 100 per cent...

Apparel

Gitanjali’s brands valuations increase

Four of Gitanjali’s Gems brands—Gili, Nakshatra, Asmi and D’Damas — have almost doubled in value since 2009. The valuation given at the end of 2009 was Rs 1,502 crores. In fact, nine of the group’s major brands have been valued at Rs 5,584 crores. The valuation has doubled in the last two years primarily because of strategic implementation or...

Apparel

Gitanjali to buy Chinese jewelry firm

Looking to expand its global footprint and boost sales, Gitanjali Gems will acquire a Chinese manufacturing unit and jewelry retail firm by year end. Gitanjali, India’s largest jewelry retailer retails diamond jewelry under the brands Gili, Nakshatra, Asmi and D’Damas. It recently acquired four Italian jewelry brands from Dubai’s Damas...

Apparel

Manish, Gitanjali joins hands

Well-known designer Manish Arora has joined hands with Gitanjali Jewellers to showcase his collection at their recently launched store in Mumbai. The venture, Manish Arora by Gitanjali Lifestyle, is the result of collaboration between the two. In fact, Arora has entered into many such tie-ups earlier. He has designed a range of garments for Walt...

Apparel

Gitanjali to double outlets

With 70 outlets across the country, Gitanjali Jewellery is planning to push up the number to 150 stores by the end of 2012. Each store will have a carpet area of 2,500 to 4,000 sq. ft. with an investment of Rs 10 to Rs 12 crores. The company relies heavily on the franchisee model. About 90 per cent of the stores are franchisee-run and the rest...

Apparel

Gitanjali to sell Visconti in India

Gitanjali, which is already in the sphere of luxury lifestyle retailing, offering consumers high end Italian jewelry and watch brands, will now sell Visconti pens at its 600 plus retail jewelry stores across the country. Visconti is a high end Italian brand. Gitanjali has a brand association with Emonte who have exclusive marketing and...