Jewellery firm Rajesh Exports today said it will utilise the network of recently acquired gold refinery Valcambi to tap European and North American markets.
On July 27, Rajesh Exports took over the Switzerland headquartered Valcambi for USD 400 million (about Rs 2,560 crore) in an all-cash deal.
"Rajesh Exports Ltd has developed a special range of designer jewellery suitable for the local European and the American markets. Valcambi has an extensive marketing network in the European and the American markets which it has developed over a period of time," Rajesh Exports said in a BSE filing.
It said the company will utilise the network of Valcambi to reach high-end European and North American clients.
"We have acquired Valcambi for it's existing strong business, but there would be multiple benefits accruing to REL due to this acquisition one among them would be the distribution of its products to the high end Europe and North America," REL Chairman Rajesh Mehta said.
He said that distribution of India made designer jewellery to those markets would be a difficult proposition for an Indian company, but REL would be smoothly navigate this process through Valcambi.
