Gitanjali Gems Ltd, one of the biggest retailers of branded diamond and gold jewellery, has completed acquisition of Nakshatra Diamonds – a brand previously owned by DTC.
Gitanjali aims to position Nakshatra as a known lifestyle brand worldwide by introducing accessories including designer bags, watches and belts.
“With this acquisition we want to move up in the industry, and offer a wide range of products to our customers,” Mehul Choksi, chairman, Gitanjali Group, said in a statement.
David Rudlin, director of international markets, De Beers Group Marketing, said, “We are happy to see the successful conclusion of the transfer of the brand to Gitanjali Ventures, an important partner in its success.”
Gitanjali had earlier introduced renowned brands such as Asmi, D’Damas, Gili, and Gianti in the Indian market.