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Gitanjali Acquires Stake in Japanese Jewelry Firm

Aug 17, 2012 4:56 AM   By Dilipp S Nag
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RAPAPORT... Gitanjali Gems Ltd. acquired a 15.3 percent stake in Verite Co. Ltd., a Japan-based jewelry retailer, for an undisclosed amount. The deal was made through Gitanjali’s Hong Kong-based subsidiary, Aston Luxury Group Ltd.

Verite's shares trade on the Tokyo Stock Exchange and it operates a network of 101 jewelry retail stores in Japan. Gitanjali stated that the acquisition will provide supply chain synergies to the group.

Gitanjali has operations in the U.S., U.K., Belgium, Italy, the Middle East, Thailand, China and Japan. The company markets and sells diamond jewelry under the brand names Gili, Nakshatra, Asmi and D'Damas in India. Its international brands include Stefan Hafner, iO Si, Porrati, Novelle Bague and Valente in Italy, and Samuels and Rogers in the U.S., among others.
Tags: diamond, Dilipp S Nag, Gili, Gitanjali, Hong Kong, India, Japan, Jewelry, Rapaport, Verite
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