Gitanjali Gems acquires Gili India

New Delhi, Mar 30: Integrated diamond and jewellery manufacturer and retailer Gitanjali Gems Ltd today said the company has acquired the Mumbai-based Gili India Ltd (GIL). ''Earlier the company was holding majority interest in GIL and pursuant to this acquisition, it has become a wholly owned subsidiary of the company,'' it said in a statement.

GIL, which was accorded 'Super Brand' status by the Indian Consumer Superbrands Council in 2004, owns one of the country's first retail jewellery brand 'Gill'. It is a leading manufacturer of diamond-studded jewellery which is marketed through franchisees all across India and in the West Asian countries as well as Europe and other Western countries under the brand name 'Gili'.

UNI