A Celebration of Jewelry and the Business Behind the Beauty
Leibish & Co
Tuesday, January 4, 2011
Gitanjali Buys 90% Stake in Italian Firm
Gitanjali Gems Ltd., an Indian diamond and jewelry manufacturer, retailer and distributor, said it now owns a majority stake of Italian firm Giantti Italia S.R.L., according to media reports.
The company acquired 90 percent stake in Milan-based company from its Dubai-located wholly owned subsidiary, Gitanjali Ventures DMCC, the company reportedly said in a filing with the Bombay Stock Exchange. Financial details of the acquisition were not disclosed.
The Italian firm has become a direct subsidiary of Gitanjali, according to the report. Gitanjali Gems has also incorporated a wholly-owned subsidiary, Gitanjali Resources, in Belgium with a view to explore and expand its businesses in Europe.
Gitanjali Gems provides rough diamond sourcing (cutting, polishing and distribution), jewelry manufacturing; jewelry branding and jewelry retailing in India and abroad.
This blog is for those who are passionate about jewelry and watches and want to learn more about the industry. It's a place to find the best new products from all over the world and the latest news about the business of jewelry, watches and luxury. Readers gain a backstage pass to the glamour, fun and difficulties of the industry.
I am a freelance writer and editor who covers the luxury jewelry and watch industry for several publications, including Forbes.com the Financial Times, Hong Kong-based JewelleryNetAsiaand the Italian jewelry magazine, VO+. In addition, I have my own blog covering the jewelry and watch industry, Jewelry News Network.