Breaking News

You are here » Indian-Commodity  :  Investment  :  Gitanjali acquires brand Nirvana and Viola along with state-of-the-art manufacturing facility

13-Dec2012

Gitanjali acquires brand Nirvana and Viola along with state-of-the-art manufacturing facility

Gitanjali Gems Group Company - Gitanjali Group has acquired jewellery brands, Nirvana and Viola, adding to the vast portfolio of branded jewellery it offers to the Indian consumers. The said brands are acquired through 'Spectrum Jewellery', a step down subsidiary of the company. The company has also acquired state-of-the-art manufacturing facility, based at Andheri in Mumbai where Nirvana and Viola jewellery is been manufactured in the said plant.

While, the acquisitions will help Gitanjali Group to further expand its retail network and increase its market share in the organized retail space, Nirvana and Viola will receive a boost to their brand value from Gitanjali's powerful marketing and distribution capabilities.

Nirvana is a 15 year old diamond jewellery brand and is sold through over 106 shop-in shops across the country, particularly in the West and South which together account for 70% of its revenues. The brand also owns one stand alone store.

Viola is relatively a younger brand and is present in 60 shop-in-shops mainly in the North and West. It offers coloured stones and electro foaming Italian designs for occasion wear and party wear and targets the middle and upper middle classes of society.

Gitanjali Group has operational presence starting from sourcing of rough diamond, cutting, polishing and distributing, to jewellery manufacturing, which includes designing, mould making, wading, casting, sprue grinding, filing, and polishing etc.


Related News

View all news

DishTV ties up with Hungama to launch music active

DishTV has entered into partnership with Hungama to launch music active. The active service will enhance DishTV's portfolio in the field of VAS and music and provide unlimited music to its subscribers.......

Sagar Cements acquires 100% stake in BMM Cements

Sagar Cements has acquired 100% equity holding in BMM Cements. With this, BMM Cements has now become a wholly-owned subsidiary of the company.The company had earlier received final approval for......

UltraTech Cement commissions 2 MTPA bulk terminal at Pune

UltraTech Cement has commissioned a bulk terminal with a capacity of 2 MTPA located at Pune in state of Maharashtra. The company was recently in discussion with Jaiprakash Associates for acquiring its......

Top News

View all news

RBI governor finally buzzes to the demand, hints at rate cut

Reserve Bank of India (RBI) Governor Raghuram Rajan finally hinting for a rate cut has said that inflation has come down to the comfort zone quicker than expected and he is keeping a watch on......

RIL, ONGC and Lupin to see some action

Reliance Industries (RIL), owner of the world's biggest refining complex, imported nearly 25 percent more oil in July compared with the previous month, when it had slowed purchases due to a planned maintenance......

Monsoon uncertainty still a risk for inflation: RBI

RBI in its Annual Report for 2014-15  has said that uncertainty in the progress and distribution of monsoon, a key factor in performance of the farm sector, continues to be a risk for......