Gitanjali Gems to form JV with ARMO Netherlands

Gitanjali Gems plans to enter into an agreement with Netherlands based ARMO Netherlands Finance BV to form a joint venture company by way of subscription to equal number of equity shares of Morellato India.

The company has also said that the proposed joint venture will carry on the business of importing, wholesale, distribution and manufacture of watches, leather goods, writing instruments, jewellery and other products under the brand names Morellato, Miss Sixty, just Cavalli, Molccole, John Galliano, Roberto Cavalli, Philip Watch, Pirelli, Pirelli Pzero, Sector, Moschino and such other brands as may be agreed between the joint venture partners.