India’s Gitanjali Gems signs MOU with Italy’s Mariella Burani

Gitanjali Lifestyle Ltd (GLL), a wholly subsidiary of India’s Jewellery firm Gitanjali Group is signing a Memorandum of understanding (MoU) with Mariella Burani Fashion Group (MBFG) of Italy to form a joint venture company in India. The new company would be called Mariella Burani India.

The proposed joint venture is to significantly drive growth of MBFG’s brands in emerging markets, particularly the Mariella Burani, Baldinini, Rosato, Calgaro and Facco collection in the Far East by capitalising on the expertise contributed by the respec tive partners.

MBFG will contribute towards the design, development and international distribution of Italian lifestyle apparel, leather goods and jewellery collections.

“The agreement will be a step towards the Gitanjali Group’s endeavour to expand their retail footprint and market share. We hope this association with MBFG is mutually profitable, and strengthens the Gitanjali Group’s international foray,” said Gitanjali chairman Mehul Choksi.

MBFG chief executive Giovanni Burani, noted: “The partnership is consistent with our strategy to expand internationally with top quality international partners. We are convinced the venture will generate important visibility in emerging markets.

MBFG is a global designer, producer and distributor for a diversified and complementary range of luxury apparel, footwear, leather accessories and jewellery collections under its own brands globally.

Story link: India’s Gitanjali Gems signs MOU with Italy’s Mariella Burani