Gitanjali Group news and archive

Gitanjali Group’s US-subsidy sales rise 8.4 percent

Gitanjali Group has announced that its US-based subsidiary Samuels Jewellers comparable jewellery store sales for the nine week holiday season for 2012 were up 8.4 percent, driven by an 11.2 per cent increase in December. The season kicked off with record breaking Black Friday. This results in 18 percent comparative sales gain over the last two...

Apparel

Gitanjali Group acquires two Indian brands

Jewellery major Gitanjali Group has acquired two well-known Indian jewellery brands, Nirvana and Viola through its subsidiary Spectrum Jewellery. Both the acquired brands have a dominant presence in modern retail formats across the country and will complement Gitanjali’s existing portfolio of brands and enhance its retail presence. Gitanjali...

Apparel

Gitanjali partners Myntra.com for online sales

Gitanjali Group has entered into a strategic partnership with Myntra.com, an online retailer of fashion and lifestyle products. Gitanjali aims at achieving Rs 150 crore sales through this partnership by 2016. Mehul Choksi, CMD of Gitanjali Group says, “The initiative is one of the many e-commerce activities undertaken over the last few years,...

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Retail biggies rejig operations before stake-sale

Now that the 51 per cent FDI in multi-brand retail has been approved by the Cabinet, India’s top retailers such as, the Future Group, Bharti Retail, Spencer’s Retail, Videocon’s Next Retail and Gitanjali Group are working over splitting their operations before selling stakes to foreign players. Since the decision over whether to let the foreign...

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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...

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Gitanjali Gems Q1 net up at Rs 148.98 cr

Gitanjali Gems has posted nearly 21 per cent growth in net profit at Rs 148.98 crores for the first quarter ended June 30, 2012. The jewellery maker had posted a net profit of Rs 123.23 crores in the corresponding period last year. The company’s net sales also grew by 31 per cent at Rs 3,384.73 crores in the reported quarter compared to Rs...

Apparel

Gitanjali launches e-platform Jewelsouk.in

Gitanjali Group has launched Jewelsouk.in, an online dedicated marketplace for branded jewelry and lifestyle accessories. The group also owns an offline retail store chain Jewelsouk, though the online marketplace will operate separately. The marketplace operates under a no-inventory model where brands will take care of the delivery by...

Apparel

Adler & Roth store at Grand Hyatt, Mumbai

Adler & Roth, a part of Gitanjali Group, opened doors to its flagship showroom at The Grand Hyatt in Mumbai recently. The store, spread across 400 sq. ft. was inaugurated by Bollywood actress Mugdha Godse. The newly store will offer a classic range of silver products across different categories with a design and finish inspired by rich European...

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Brands offering low-cost diamonds for youth

Known diamond jewelry brands in India have come up with an exclusive range with a price point at under a thousand rupees to woo young consumers. From traditional jewelers such as 140-year-old C Krishniah Chetty & Sons to organised retailers such as Tanishq and Gitanjali, all are targeting the upcoming class of patrons by offering them diamonds...

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Aston Luxury buys stake in Crown Aim

Gitanjali Gems’ wholly subsidiary arm Aston Luxury Group has acquired 100 per cent stake in Crown Aim, making Crown Aim as the step down subsidiary of the company. Crown Aim is a Hong Kong-based company engaged in the business of distribution of jewelry to China, Japan, US, Middle East and Europe. It also has a jewellery manufacturing unit in...

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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

Sen trio the new face of Maya

Maya by Gitanjali Lifestyle, India’s premium women-centric multi-brand lifestyle departmental store catering to women has chosen the gorgeous mother daughter trio of Riya, Raima and Moonmoon Sen as its brand ambassador for. The three gorgeous women represent Maya’s positioning as a store that caters to women with different style quotients and...