Gitanjali purchases majority interest in Tri-Star worldwide

13140 Investors following Gitanjali Gems. Share this News with them.

0

Like this story, share it with millions of investors on M3

Gitanjali purchases majority interest in Tri-Star worldwide

Gitanjali purchases majority interest in Tri-Star worldwide

Post your opinion here

 

0

Tweet

Share on Tumblr

RELATED NEWS Gitanjali reports robust Q3 results Gitanjali Gems Q3 net surges to Rs 31.4cr Gitanjali Gems locked at 10% upper circuit Chavan like Gitanjali Gems, Classic Diamonds ALSO READ See latest News about Gitanjali Gems See previous management interviews See what other Experts & Brokerages are saying about Gitanjali Gems Gitanjali Gems BSE | NSE 25/05/12 Are Mutual Funds betting on Gitanjali Gems?

Gitanjali Gems Ltd., India's largest integrated diamond and jewellery manufacturer and retailer, announced that it has purchased a majority interest in Tri-Star Worldwide LLC, a BHP Billiton direct customer, CANADMARK licensee, manufacturer and global distributor of Canadia® brand diamonds and diamond jewelry. Along with Tri-Star founding partner Beny Sofer & Sons, Gitanjali plans to expand Tri-Star and the Canadia brand. 

The new partnership will also allow Canadia Diamonds to market to Leading Jewelers of the World™, an exclusive network of top U.S. independent jewelers, and to the existing Gitanjali customer base of 1200 independent retail jewelers.

Mehul Choksi, Chairman, Gitanjali Gems added, "The Tri-Star venture is an ideal fit for Gitanjali and is consistent with our downstream strategy.  Our group will enhance the Canadia model and enable it to reach new heights. "

Mr. Oren Sofer, CEO, Tri-Star said, "We are excited to be partnered with Gitanjali, the most vertically integrated diamond house in the world. Gitanjali has extensive global distribution channels. This will help Tri-Star propel Canadia to new levels not only in our existing markets in North America and the United Kingdom, but also in the Indian and Middle-Eastern markets where Gitanjali has well established retail networks.

Nehal Modi, CEO, Gitanjali USA, a wholly owned subsidiary of Gitanjali Gems, said, "Partnering with Tri-Star gives us the opportunity to be a part of the finest "Mined in Canada" branded offering available to the market today.  The Tri-Star business model lends itself to a variety of initiatives our group has undertaken where we believe origin branding will be beneficial."

Sourced From: Sampark Public Relations Pvt Ltd