Italy : MBFG ties up with Indian jewellery brand

Mariella Burani Fashion Group and Gitanjali (Mumbai, India), have agreed to enter into a joint venture for the distribution of MBFG apparel, leather goods and jewellery collections in India.
Gitanjali is one of India’s leading fully integrated jewellery Groups listed both on the Mumbai Stock Exchange and the National Exchange of India, with annual revenues of $850 million.
Mr. Mehul Choksi, Chairman of Gitanjali Group, is renowned internationally for his experience and competence in the jewellery sector.
The Gitanjali Group controls an extensive distribution network of complementary local and international jewellery brands including D’damas, Stefan Hafner and Morellato. The Group is currently initiating an aggressive expansion programme into the leather goods and apparel markets.
The expertise of both partners will be contributed to the joint venture with the objective of developing MBFG in India, particularly the Mariella Burani, Baldinini, Rosato, Calgaro and Facco collections, with a dedicated distribution network that is expected to include 32 mono and multi brand boutiques and 132 shop-in-shops.
Gitanjali will also provide production, marketing, logistics and distribution expertise based on its extensive know-how of the Indian market and its extensive retail network.
Mariella Burani Fashion Group will contribute with its brands its consolidated experience in the design, development and international distribution of Italian lifestyle worldwide.
Giovanni Burani, CEO of MBFG noted: “The joint venture is consistent with our strategy to expand internationally with top quality partners and we are proud to work together with the Gitanjali Group.
We are convinced the venture will represent an important growth driver in India and North America and generate important visibility in emerging markets”.