April 01, 2011 / 20:42 IST
In a bid to expand its global footprint, jewellery manufacturer and retailer Gitanjali Group today said it has recently acquired five Italian brands and launched Giantti Italia Srl, the company''s Italian subsidiary with offices in Milan.
"The presence in the Italian market is in line with our goal of acquiring excellence and expertise in the creation and handcrafting of jewellery. Italy represents the cutting-edge of jewellery designs," Gitanjali Group Chairman and Managing Director Mehul Choksi said in a statement here.The five Italian brands acquired by Gitanjali are Valente, Stefan Hafner, Nouvelle Bague, IO S and Porrati."Our choice for the future is, in fact, to keep all design and production in Italy. It is our desire to work with the Italian creators and designers to offer the international markets innovative collections with a strong stylistic connotation," he said.In addition, he said, Italian jewellery is very popular in India and Gitanjali Group''s range of products are stronger and more diversified."The acquisition of these five brands with a unique history and design will allow us to expand our market," he said. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
