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 innovation in product mix, penetration in new geographies and shifting the sales channel. The brand Gitanjali has been valued the highest, at Rs 2,261 crores. Some of the other brands of Gitanjali are Maya and Shuddhi. Jewelry brand Gili was launched in 1994. Nakshatra is a diamond jewelry brand launched in 2000. D’Damas combines international quality with a distinctively Indian aesthetic. Maya is aimed at the Indian wedding market.

These brands cover products ranging from loose diamonds to diamond studded jewelry and other stone-studded jewelry (precious and semi-precious), in gold, silver, steel and combinations, as well as high-end watches, jewelry watches, luxury artifacts and accessories. The brand valuation exercise was conducted by Gitanjali to restructure its business based on three of its verticals – diamond and jewelry manufacturing vertical, domestic branded jewelry vertical and the international branded jewelry vertical. The group is looking to further tap the potential of these brands in the next two or three years