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Gitanjali buys US retail jewelry chain Rogers

20 Nov '07

2 min read

Gitanjali Gems Ltd has informed that the Company has acquired Rogers Ltd Inc a retail jewelry chain in United States.

The Company has acquired 100% stake in this specialty retailer, which operates 46 stores in US with current revenues equivalent to US$ 80 Million.

Rogers Ltd Inc is headquartered in Middletown, Ohio and operates under brand names 'Rogers Jewelers' and 'Andrews Jewelers'.

As a privately held, family owned Company, Rogers Ltd Inc was originally founded in 1920 and since then it has grown front a one store operation to a Company with 46 stores.

Rogers is a mall based jeweler appealing to a target customer of middle aspirations to middle upper income mass affluent consumers, who value quality and long standing relationships with trusted family jewelers.

The growth of this Company over the years comes from an unwavering commitment to high quality jewelry, trust, integrity and financial stability.

This acquisition by 'Gitanjali' in organized US jewellery market is a landmark step for the industry and a significant step towards moving up the industry value chain, which will offer a range of synergies to Gitanjali's existing operations.

Gitanjali will not only have access to a large US consumer base, but leveraging Rogers' existing retail infrastructure will give Gitanjali a better control over the entire value chain in the jewelry business.

By way of this acquisition Gitanjali has taken one more step ahead in the direction of getting control over in the value chain, which will boost the Company's plans to expand its retail presence in India and overseas.

Gitanjali Gems Ltd

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