Gitanjali & Sanghavi Exports Sign Diamond Jewelry JV Agreement

Gitanjali & Sanghavi Exports Sign Diamond Jewelry JV Agreement
(March 27, ’06, 6:56 IDEX Online Staff Reporter)
 

Gitanjali Gems today announced the signing of a 50-50 joint venture agreement with Sanghavi Exports to manufacture and market the Sangini diamond jewelry brand.
 
Sangini was one of the flagship brands launched in India by the Diamond Trading Company (DTC), the sales and marketing arm of De Beers. It was launched in 2004, and was run by seven Sightholders until 2005.
 
Spectrum Jewellery, earlier a part of the Sanghavi group, had purchased the brand from the DTC in January 2006.
 
“Through this JV we will add yet another valuable brand to the bouquet of brands being offered by us to the Indian consumer,” says Mehul Choksi, chairman, Gitanjali Gems.