Gitanjali Gems acquires Hong Kong's Crown Aim Ltd

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Gitanjali Gems acquires Hong Kong's Crown Aim Ltd

Aston Luxury Group, a wholly owned subsidiary of branded jewellery maker Gitanjali Gems, has acquired 100% stake in Crown Aim Ltd. Crown Aim is a Hong Kong based company engaged in jewellery distribution to China, Japan, USA, middle east and Europe.

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Moneycontrol Bureau

Aston Luxury Group, a wholly owned subsidiary of branded jewellery maker Gitanjali Gems , has acquired 100% stake in Crown Aim Ltd. Crown Aim is a Hong Kong based company engaged in jewellery distribution to China, Japan, USA, middle east and Europe.

Gitanjali Gems did not disclose the sum for which it bought this company. 

In addition, Crown Aim has a jewellery manufacturing unit in China and plans to setup retailing of jewellery in China. Crown Aim also has a 100% subsidiary with the name Alfred Terry Holding Limited and a step down subsidiary named Alfred Terry Limited in London, for jewellery distribution in the UK.

Shares of Gitanjali Gems were at Rs 340.10, up 0.58%. It touched a high of Rs 341.50 and low of Rs 336.10 in trade so far.

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