Monday, 21st March 2005 (4277 views)

Su-Raj Diamonds in India has announced it has purchased a 49 per cent share in the Forever Previous Jewellery & Diamonds company.

The deal for $1.6 million will help Su-Raj move further into India's fast-growing domestic jewellery market.

As part of the deal Su-Raj will have a share in 300,000 jewellery outlets across India.

Jatin Mehta, chairman and managing director at Su-Raj, told the Hindu Business Line: "Our objective in picking up a stake in Forever is to tap the high growth domestic gold and diamond jewellery segment.

"Forever's business is complementary to Su-Raj Diamonds, while jewellery from Su-Raj will cater to large international B2B clients."

The company will also be expanding its facilities in Goa and plans to become a one-stop shop for the B2B segment for gold, diamond, gem, silver and platinum jewellery requirements.

 

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