SGJHL to acquire brands abroad

Shree Ganesh Jewellery House Ltd (SGJHL) one of the largest manufacturers and

exporters of handcrafted gold jewelry, is planning to close a deal for acquiring a few jewelry brands in Italy or Saudi Arabia by the end of this fiscal year. SGJHL which offers the well-renowned Gaja jewelry brand which typifies Bengal craftsmanship acclaimed across the globe for its intricacy and minute detailing work like filigree and polka. It is looking at strengthening its retail presence globally through a foreign acquisition. With a unique mix of modernity and tradition, Gaja designs tender a universal appeal offering their discerning consumers a unique brand experience. The Gaja brand is doing well in the market with the company looking at Rs 400 crores turnover from this brand this fiscal year.

The company hopes to close a deal during this fiscal which should be around Rs 50 crores. Their focus at the moment is to enter into foreign markets and also strengthen the domestic retail presence to 43 from the current 13 outlets. They have plans to invest close to Rs 10-15 crores per store. The new stores will come up in cities like Gurgaon, Pune, Ahmedabad, Rajkot, Mangalore, Chandigarh, Chennai and Siliguri among others.

Launched in 2007, Gaja is a chain of branded concept jewelry outlets. Gaja exclusive showrooms are present in Kolkata, Ahmedabad and Bangalore. The company has extensive investment plans for brand building and has launched collection-specific brands targeted at specific consumer groups.