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Our Bureau

Mumbai, March 27

Gitanjali Gems on Monday announced the signing of a new joint venture agreement with Sanghavi Exports under which it will become a 50-50 partner in Spectrum Jewellery. The joint venture will manufacture and market the Sangini brand of diamond jewellery.

Spectrum Jewellery, earlier a part of the Sanghavi group, had purchased the brand from Diamond Trading Company, the sales and marketing arm of De Beers, in January 2006. "We strongly believe that in the changing retail scenario, there is a huge potential for growth in the branded jewellery segment," a news release said quoting Mr Mehul Choksi, Chairman, Gitanjali Gems.

More Stories on : Alliances & Joint Ventures | Gems & Jewellery | Brands

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