Gitanjali Gems has acquired the Hong Kong-based jewellery company Crown Aim for an undisclosed amount. The deal was carried out on Friday through the wholly-owned subsidiary, Aston Luxury Group, said Gitanjali Gems in a statement.
Crown Aim is engaged in distribution of jewellery in China, Japan, the US, West Asia and Europe.
In addition, it has a jewellery manufacturing unit in China and plans to set up retailing base in China.
Crown Aim also has a wholly-owned subsidiary, Alfred Terry Holding, and a step-down subsidiary Alfred Terry Ltd in London, for distribution of Jewellery in the UK.
Gitanjali stocks on BSE were up 0.61 per cent at Rs 340.20 on Tuesday.
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Published on December 6, 2011
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