Gitanjali Gems interested in U.S. jewellery retailer

Gitanjali Gems, an Indian jewellery manufacturer and exporter is pursuing its interest in buying a U.S.-based jewellery retailer. The deal is expected to be worth $100 million and would be concluded within two months, according to an Economic times report.
What has been ascertained so far about the profile of the U.S. retailers is that it is a leading name amongst American jewellery retailers with over 100 outlets.

This would be another of Gitanjali’s foray in the American retail jewellery market, as it a 97% stake in US-based retailer Samuels Jewelers Inc. , last December, for Rs.100 crore ($25.4 million). However, Gitanjali has declined any such inetnts to purchse any Amrican retailers for $100 million.