Gitanjali Gems acquires Trinity Watch

New Delhi, Mar 16: Gitanjali Gems Ltd said it has acquired 'Trinity Watch Company Pvt Ltd' and 'Renaissance Retail Venture Pvt Ltd' (RRVPL) through its wholly owned subsidiary Gitanjali Lifestyle Ltd for an undisclosed amount.

Trinity Watch is engaged in the business of sale of watches under its registered premium brand 'Iris', said a statement. Trinity also distributes various international watch brands under licence from various principals. RRVPL, on the other hand, is engaged in the business of promoting, conducting and managing retail stores, dealing and trading in all sorts of silver, gold, platinum and other diamond studded jewellery. 'Lucera' is one of the premium brand owned by RRVPL.

Gitanjali Gems has also forayed into the business of providing gold loans, safe deposits vaults through incorporation of its wholly owned subsidiary in the name of 'Mohar Jewels Ltd'.

The main objects of Mohar Jewels will include providing safe deposit vaults and gold loans to individuals, entities or any other person and to manufacture, buy, sell, import and export diamonds and other precious stones.

UNI