Gitanjali Gems sets up lifestyle arm
Eager to build on the growing appetite for lifestyle products, leading makers and retailers of jewellery Gitanjali Gems on Monday said it has set up a wholly owned subsidiary - Gitanjali Lifestyles Ltd (GLL).
By PTI |
MUMBAI: Eager to build on the growing appetite for lifestyle products, leading makers and retailers of jewellery Gitanjali Gems on Monday said it has set up a wholly owned subsidiary - Gitanjali Lifestyles Ltd (GLL).
The newly incorporated company would deal in lifestyle space and carry on the business as manufacturers and or dealers in multiple areas, including accessories like jewelleries, watches, clocks, leather products, eye wares, perfume, cosmetics or similar products, Gitanjali Gems told the Bombay Stock Exchange.
Gitanjali Lifestyles would also do business as marketing agents etc, in jewellery of any kind on the basis of ready delivery or forward contracts, counter trade, switch over deal on commission basis or otherwise.
The lifestyle company has already partnered with Australia's leading salon chain 'Just Cuts' and would open 250 outlets in the next four years.
It has earlier announced plans to tie-up with global brands in the lifestyle space, including spas, fashion stores, fine-dine restaurants, jewellery brands and apparel.
Meanwhile, Gitanjali Gems informed that D'Damas Jewellery (India) Pvt Ltd, a joint venture company, has become its 51 per cent subsidiary.
D'Damas Jewellery is primarily in the business of manufacturing plain and diamond studded jewelleries under the brand name D'Damas.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
