Indian buyer approached for The Jewellery Group

Sydney-based company – The Jewellery Group, which owns retail stores under the brand names Zamels and Mazzuchellis, is reportedly up for sale. The Australian company operates 101 Zamels stores and 26 Mazzuchellis stores. It is operated under the umbrella of the private equity firm Quadrant. It is learnt through the leading Australian media that buyers are being sought, which possibly could include overseas buyers or someone from the Australian jewellery industry. But reports also note that there are talks of an Indian company being approached for the same.

The Jewellery Group was bought by Quadrant in March 2007 from the Zamel family. Reports also indicate that Quadrant is willing to sell the business at a lower price than what it had purchased it for in 2007.

The first Zamels store opened in New South Wales by founder watchmaker Phillip Zamel in 1954.