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Indian Credit Down 18% Since Banking Scandal
Lending to India’s gem and jewelry industry fell 18% during the past two fiscal years as the 2018 Nirav Modi banking scandal continued to fuel caution among banks, according to credit agency CARE Ratings.Outstanding...
Financial-Legal Jun 07, 2020 Rapaport News
Nirav Modi
Nirav Modi Arrested in London
Fugitive jeweler Nirav Modi was arrested in central LondonTuesday on behalf of Indian authorities, the city’s police said. Modi will appear at Westminster Magistrates’ Court Wednesday, the Metropolitan Police said in a statement. The diamond mogul,...
Retail Mar 20, 2019 Rapaport News
Samuels Jewelers
Samuels Jewelers Files for Bankruptcy
Alleged Indian fraudster Mehul Choksi’s US jewelry chain hasfiled for Chapter 11 protection, according to court papers. Samuels Jewelers has brought in liquidators to begin sellingits assets so it can pay off debt, theTuesday filing at the District...
Retail Aug 08, 2018 Rapaport News
Nirav Modi 150
India Seeks Interpol’s Help in Hunt for Modi
Indian authorities have called on Interpol to help trackdown Nirav Modi, according to Reuters, following reports the fugitive jeweleris in the UK. The nation’s federal law-enforcement agency has asked the internationalpolice organization to issue a “red...
Financial-Legal Jun 13, 2018 Rapaport News
India Trade Looks to Ease Banks’ Concerns
India’s diamond industry is working to produceguidelines for banks to reduce their risks when lending to the trade. The nation’s Gem & Jewellery Export Promotion Council (GJEPC) has beencollaborating with the government and lenders...
Financial-Legal May 01, 2018 Joshua Freedman
De Beers 150
De Beers Raises Prices at $520M Sale
De Beers’ April sight closed with a value of $520 millionamid concerns among manufacturers that higher rough prices could affect profitmargins.De Beers raised prices by 1% to 2% from the previous salefor larger size categories, sightholders told...
Rough Markets Apr 17, 2018 Joshua Freedman
Gitanjali 150
Gitanjali Loses Sightholder Status
De Beers has terminated the sightholder status of Gitanjali Gems following fraud allegations against the Indian jeweler’s managing director,Mehul Choksi. De Beers took the decision in February, meaning Gitanjalican no longer make any purchases from...
Financial-Legal Apr 16, 2018 Joshua Freedman
Nirav Modi store
What We Know About Nirav Modi’s US Companies
The $2 billion fraud allegations against Indian jewelrytycoon Nirav Modi and Gitanjali Gems chief Mehul Choksi have shocked theindustry, as well as raising questions about the wider impact on the trade.One of the first casualties...
Financial-Legal Mar 07, 2018 Joshua Freedman
Gitanjali Chief Tells Staff to Find New Jobs 150
Gitanjali Chief Tells Staff to Find New Jobs
Gitanjali Gems managing director Mehul Choksi has told the company’s employees to look for another job, as asset seizures have made it impossible to pay salaries, The Times of India reported.Indian authorities are investigating Choksi...
Financial-Legal Feb 25, 2018 Rapaport News
India Bank Allegations Widen 022118 150
Investigation into $1.8B Jewelry Fraud Intensifies
Indian authorities have reportedly arrested five senior executivesat Nirav Modi Group and Gitanjali Gems as investigations continue into amassive fraud case involving the two companies.Punjab National Bank (PNB) has alleged the...
Financial-Legal Feb 21, 2018 Joshua Freedman
Mehul Choksi Among Industry’s Top 50 Influencers
Press Release: Mehul Choksi, the chairman of the Gitanjali Group, was named as one of 50 outstanding individuals who represent the jewelry and watch industry's top powerhouses for a second consecutive year. The list is compiled by U.S. trade publication JCK Magazine.The publication cited Gitanjali Group as one...
Retail Jun 05, 2013 Gitanjali
Gitanjali's 3Q Sales +27%, Profit +34%
Gitanjali Gems Ltd. reported that group sales rose 27 percent year on year to $809.5 million (INR 43.55 billion) during its third fiscal quarter that ended on December 31, 2012. Strong performances at its jewelry...
Retail Feb 14, 2013 Dilipp S Nag
Gitanjali Master Brand Award
Gitanjali Receives Master Brand Award
Press Release: Gitanjali Group, the world’s largest integrated branded jewelry manufacturer and retailer, has once again been recognized with the Master Brand Award for 2012-2013 by the Chief Marketing Officer (CMO)...
Retail Dec 14, 2012 Gitanjali
Gitanjali Acquires Two Indian Jewelry Brands
The Gitanjali Group acquired the Nirvana and Viola Indian jewelry brands as the company ‎aims to enhance its share of the organized retail space. The acquisition was made ‎through Gitanjali’s subsidiary Spectrum Jewellery...
Retail Dec 13, 2012 Dilipp S Nag
Gitanjali Piece
Gitanjali Partners with Online Retailer Myntra
Gitanjali Group has partnered with Myntra.com, an online retailer of fashion and lifestyle products in India, with an aim to boost sales. The company’s strength in the branded jewelry space and experience in marketing of jewelry would complement...
Retail Oct 10, 2012 Dilipp S Nag
Polished Diamonds
Rapaport Intl. Diamond Conference Highlights Regulatory, Price Challenges
PRESS RELEASE, August 30, 2012, New York: The Rapaport International Diamond Conference 2012 held in Mumbai on August 29, 2012 attracted over 300 participants, including many of India’s leading diamantaires. The conference was...
Polished Markets Aug 30, 2012 Rapaport
Gitanjali Unveils New Brands
Gitanjali Group unveiled a number of new brands and collections to be presented at the forthcoming India International Jewellery Show (IIJS), which will be held in Mumbai from August 23 to 27. The company stated that Envi, Moira, True...
Manufacturing Aug 20, 2012 Dilipp S Nag
Face of BETI
Gitanjali Kicks Off IIJW in Mumbai With a Social Cause
Press Release: The opening show of the third edition of the India International Jewellery Week (IIJW) on Sunday was a show that went beyond glamour and glitter. It was a ‘show with a heart’ where famous TV and...
Marketing Aug 20, 2012 Gitanjali
Gitanjali's 1Q Sales +31%, Profit +21% to $27M
Gitanjali Gems Ltd. reported that sales rose 31 percent year on year to $612.1 million (INR 33.85 billion) during its first fiscal quarter that ended on June 30, 2012. Growth was driven by the strong...
Retail Aug 13, 2012 Dilipp S Nag
Priyanka Chopra
Gitanjali Inaugurates Dubai Store
Gitanjali Group recently opened its first global multi-brand store in Meena Bazaar, Dubai, with an aim to target international customers visiting the city. Bollywood actress and former Miss World, Priyanka Chopra, inaugurated the...
Retail Jul 09, 2012 Dilipp S Nag
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