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Shrenuj buys stake in Arisia Solitaire brand
12
Jan '08
Shrenuj & Company Limited, an integrated diamonds and jewellery conglomerate with sales turnover in excess of Rs. 980 crores, announced acquisition of substantial stake through its 50% JV in well known Arisia Solitaire brand.

The brand was sold at an undisclosed price by the Diamond Trading Company (DTC), world's premier diamond mining and sales company.

Arisia is a successful niche brand in India and is well-established amongst the Elite consumers in India. It represents a high quality, one carat plus solitaire diamond jewellery, which is very rare, and targets a fast growing elite segment of society in India.

Arisia is the only brand that targets this segment for which solitaires represent epitome of luxury. The brand has achieved premiums well in excess of the market average amongst top end Indian retailers.

Total marketing spend on this brand is approximately $2.5 million and, since launch, over 16,000 pieces of Arisia jewellery have been sold totalling $82 million in retail revenue.

Shrenuj plans to develop this as a global brand in top end luxury segment with products in price range of US$ 5000 or above. Arisia is planned to generate Rs. 500 crores in sales revenue over the next three years.

Vishal S Doshi, group executive director said, “this acquisition is synergistic with Shrenuj's solitaires portfolio comprising Sveni and Bhavya, owned wholly by Shrenuj.

While Bhavya solitaires are above 20 pts, and Sveni solitaires are offered in 50-90 pts, Arisia lies at the top of pyramid.

In the current Indian scenario, where the lower, middle and upper socio-economic segments are growing at the same rate, addition of Arisia to the Shrenuj portfolio will result in improved brand loyalty to Shrenuj's products.”

Arisia brand has been developed after a thorough consumer research. Solitaires have always been a cherished possession of Royalty across the world.


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