Gitanjali Acquires Hong Kong Jewelry Firm, Crown Aim Ltd.
Deal made through its Aston Luxury Group...Gitanjali Gems Ltd. has acquired Crown Aim Ltd., a Hong Kong-based jewelry distribution firm. The deal was made through Gitanjali’s Aston Luxury Group subsidiary.
Crown Aim, which distributes jewelry to China, Japan, US, the Middle East and Europe, also has a jewelry manufacturing unit in China and plans to set up a jewelry retail presence in China, Gitanjali explained.
Crown Aim owns Alfred Terry Holding Ltd., and London-based Alfred Terry Ltd., a 45-year old company with a wide distribution channel that includes chain-stores and an independent presence in the UK, covering nearly 2,000 jewelry shops.
Gitanjali, which has operations in the US, UK, Belgium, Italy, the Middle East, Thailand, China and Japan, recently restructured its international and domestic business as part of a brand valuation exercise initiated to streamline its operations. Its international brands include Stefan Hafner, iO Si, Porrati, Novelle Bague and Valente in Italy, and Samuels and Rogers in the US, among others. The company retails diamond jewelry under the brands Gili, Nakshatra, Asmi and D'Damas in India.
The Mumbai-based diamond and jewelry company operates three diamond manufacturing factories and six jewelry manufacturing units in India and has more than 4,000 points of sale.
By: Dilipp S Nag of RAPAPORT
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