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Rajesh Exports plans OyzterBay jewelry acquisition

17
Mar '06
Rajesh Exports Ltd has decided to take over the Bangalore-based jewelry retailer OyzterBay, by investing Rs11 crore and has approved to further invest Rs100 crore to launch subordinate retailing of gold jewellery.

Under this agreement, Rajesh Exports would gain complete retail business of OyzterBay, including 36 exclusive retail stores, retailing systems, management systems, software packages, customer database and other retail assets.

The whole retailing team of OyzterBay will become a part of the new retailing subsidiary with Rajesh Exports providing 20 percent equity stake to the supporters of OyzterBay here.


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