RAPAPORT… India’s Renaissance Jewellery (RJL) has acquired Jay Gems, a
US-based supplier of Disney-themed jewelry, for $26 million.
The move expands the Mumbai-based company’s
presence in the US, Jay Gems said Monday. RJL will gain access to Jay’s three subsidiaries:
Jewelmark, a manufacturer that focuses on bridal and fine jewelry for specialty
stores; Simply Diamonds, which caters to independent jewelers; and Enchanted
Disney Fine Jewelry, a supplier of Disney-princess-inspired engagement rings,
earrings, rings and pendants.
Jay Gems recorded revenue of $79 million in its latest
financial year, with its Disney-themed subsidiary accounting for more than half
its overall sales, it said. The company supplies to more than 6,000 retailers,
including Signet Jewelers, Fred Meyer and Helzberg Diamonds. Jay Gems’
management will continue to run its operations.
“With the financial strength and global distribution of RJL,
we expect to be able to grow Enchanted Disney Fine Jewelry into a global brand
within five years,” Renaissance vice chairman Sumit Shah said Monday.
Image: A princess-style silver ring.with diamonds, shaped like a tiara. (Enchanted Disney Fine Jewelry)