Gitanjali Gems Restructures its International Business

Gitanjali Gems Ltd. has restructured its international business as part of a brand valuation exercise initiated to streamline its operations.

The Mumbai-based diamond and jewelry company transferred its stake in Giantti Italia S.R.L. to its Italy-based wholly-owned subsidiary, Leading Italian Jewels S.R.L. Gitanjali also transferred its ownership in Leading Italian Jewels S.R.L. to its Hong Kong-based wholly owned unit, Aston Luxury Group Ltd.

Gitanjali, which has operations in the U.S., U.K., Belgium, Italy, the Middle East, Thailand, China and Japan, is restructuring its business in an effort to raise its value to attract private equity investors. The company recently completed the restructuring of its Indian subsidiaries.

In September, the company reported that the collective value of its nine major Indian brands was $1.21 billion (INR 55.84 billion) following a brand valuation carried on behalf of the company by London-based Brand Finance Plc. The brands included Gitanjali, Gili, Nakshatra, Asmi, D’Damas, Gitanjali Jewels, Maya Gold, Gitanjali Lifestyle and Shuddhi.

The diamond jewelry maker didn’t value its international brands, which include Stefan Hafner, iO Si, Porrati, Novelle Bague and Valente in Italy, and Samuels and Rogers in the U.S., among others.

Gitanjali conducted the brand valuation exercise as a part of an initiative with KPMG to restructure its business based upon three pillars: Diamond and jewelry manufacturing, domestic branded jewelry and international branded jewelry.

The company operates three diamond manufacturing factories and six jewelry manufacturing units in India and has more than 4,000 points of sale.

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