Gems London Merges with Japan’s Imacbc

(IDEX Online News) - India's Gitanjali Gems Ltd says Gems London Co Ltd, in which it has a 30 percent holding, has merged with Tokyo based Imacbc Ltd.

Gems London is one of the largest sellers of jewelry in Japan via its TV channel, Gems TV, with revenues for fiscal year 2013 of more than $90 million. Gitanjali says it expects revenues of $180 million from the merged companies in the next two years.

Gitanjali Gems’ holding in Gems London is through its wholly owned Hong Kong-based subsidiary, Aston Luxury Group.

The merger took effect on April 1, and following the merger Imacbc will become a completely integrated company: from sourcing raw material from Thailand and China, manufacturing at two facilities in China, and retailing in Japan. Japan is the third-largest jewelry market in the world.

In addition to selling via GemTV, the merged firm plans to expand its existing retail jewelry network in Japan.

Following the merger, Imacbc becomes the only company in Japan able to both manufacture jewelry products and sell them via its own television-shopping channel.

The integration will shorten lead and response times and allow for streamlining at both ends of the jewelry chain, as well as giving it strong competitive advantages.