Gitanjali Gems ink JV with ARMO Netherlands

New Delhi, Nov 20 (UNI) India's largest integrated diamond and jewellery manufacturer Gitanjali Gems today said it is entering into Joint Venture (JV) with ARMO Netherlands Finance BV to carry on the business of importing, wholesale, distribution and manufacture of watches, leather goods, writing instruments, jewellery and other products.

Under the JV a new company will be formed by way of subscription to equal number of equity shares of Morellato India Pvt Ltd, said a statement.

The company will operate under the brand names Morellato, Miss Sixty, just Cavalli, Molccole, John Galliano, Roberto Cavalli, Philip Watch, Pirelli, Pirelli Pzero, Sector, Moschino and such other brands as may be agreed between the JV partners, said the statement.

Gitanjali Gems had yesterday said it has acquired US-based retail jewellery chain Rogers Ltd to strengthen its presence in the United States market.

UNI