Gitanjali Gems increases stake to 60 pc in G

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Hyderabad-based Gitanjali Gems today said it has increased its stake in Gili India, which owns the retail jewellery brand 'GILI', to 60 per cent from 40 per cent.

By virtue of this acquisition of shares, Gili India Ltd, an associate aompany has become subsidiary of the company.

'GILI' has a commendable share of the branded jewellery market and was accorded 'Super Brand' status by the Indian Consumer Superbrands Council, in 2004. It featured among the top ten jewellery brands in the country by the GJEPC magazine Solitaire International, last year.

With increased stake, the group seeks to enjoy consolidated share over branded jewellery market in India, a company statement said.