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Home breadcru News breadcru Company breadcru Jewelry brand Gitanjali to foray in US thru retail acquisition
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Jewelry brand Gitanjali to foray in US thru retail acquisition

07 Aug '06
1 min read
As part of its expansion plan, leading branded jewelry company, Gitanjali Gems is in process to acquire two jewelry retail chains in the US.

Company would acquire proposed retail chains between $100 to 120 million, which is expected to complete by October this year.

Through these acquisitions company will get chance to make presence in highly lucrative US market.

After the announcement of foreign acquisition plan, company's share value increased 21 percent.

This forward integration strategy of company will help in long run to make profit in low margin business.

Apart from this, company recently purchased jewelry retailing brand Desire Lifestyle.

Gitanjali has several brands such as Asmi, Nakshatra, D'damas, Gili and Ginatti which are very popular across the country.

Company is trading all its jewelry brands through 620 retail outlets.

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