Gitanjali Gems announces merger of Gems London with Imacbc in Japan

Gems London merged with Imacbc on April 1,2013.

After the merger,Imacbc would become completely integrated company from sourcing raw material from Thailand and China,manufacturing in two facilities in China,to retailing in Japan.

In addition to selling through Gems TV,the merged Imacbc plans to expand its existing jewellery retail network in Japan.

The combined revenue of consolidated business is expected to more than double in next two years,it said adding the revenues for FY2013 exceeded USD 90 million.

Imacbc after Gems London8217;s merger with it has become the only company in Japan with capabilities of both manufacturing jewellery products and selling them through its own television shopping channel.

The strong base that will emerge will enable Gitanjali Gems to develop its business rapidly as it will have the ability to address customer demand in the Japanese market most effectively and efficiently,it said.

Japan being the third largest diamond jewellery market in the world offers immense potential to add value to the Group8217;s vertically integrated model,it said.