Aston Luxury Group, a wholly owned subsidiary of Gitanjali Gems, has acquired 100% stake of Crown Aim Ltd on December 2.
Crown Aim is a Hong Kong-based company engaged in the business of distribution of jewellery to China, Japan, USA, West Asia and Europe. In addition, Crown Aim has a jewellery manufacturing unit in China and plans to setup retailing of jewellery in China. Crown Aim also has a 100% subsidiary with the name Alfred Terry Holding Limited and a step down subsidiary named Alfred Terry Limited in London, for distribution of jewellery in UK.
Alfred Terry Limited is a 45-year-old company, which has a wide distribution to chain stores and independent presence in UK. It covers nearly 2,000 jewellery shops.
Gitanjali Gems' stocks were trading at Rs 340 apiece on Bombay Stock Exchange at 1400 hours, a modest gain of 0.6%.
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