RAPAPORT... Gitanjali Gems Ltd. has acquired Leading Jewels of Japan K K for an undisclosed amount with the aim to expand its business in Japan and the adjoining region. The deal was made through Gitanjali’s Aston Luxury Group Ltd. subsidiary.
Leading Jewels of Japan is involved in the production, sale, purchase, import and export of diamonds, precious stones, jewels and jewelry, the company explained. Gitanjali has more than 4,000 points of sale and its diamond jewelry brands include Gili, Nakshatra, Asmi and D'Damas.
Mumbai-based Gitanjali also reported that its Milan-based subsidiary, Giantti ltalia S.R.L., has merged with its Valenza, Italy-based subsidiary, Leading Italian Jewels S.R.L., as part of the company's ongoing restructuring of its international business.
Gitanjali explained that the merger is intended to consolidate the group's business in Italy as it will reduce its administrative burden and help it to obtain synergy across its operations.