Taché and Giloy Joins Forces
-- JCK-Jewelers Circular Keystone, 5/2/2007 7:51:00 AM
Taché, a large supplier of fine diamonds and a leading jewelry manufacturer, and Giloy, a large jewelry manufacturer in Western Europe, will be combining their respective Indian factories into Tache Jewelry Pvt. Ltd.
Tache USA Inc. will be the majority shareholder in this new venture.
Taché supplies jewelry mainly in the United States and France to major retailers, department stores, and independent jewelers. Giloy, a 30-year strategic partner in the Taché Alliance is the number one jewelry supplier to the German market and operates one of the most technologically advanced factories in Europe.
The companies say that combining their manufacturing operations will lead to several benefits from synergies and economies of scale for both companies, including:
* Combined design and model development with state of the art CAD/CAM facilities
* Closer proximity to international customers and markets
* Large increase in production for a marginal increase in costs
* Centralized diamond supply, sorting, and bagging
* Significant increase in buying power
* Enhanced exchange of creativity through research and development
The new combined facility will be managed by Nikhil Khandwala, former general manager of CG International (the former Giloy-Choksi jewelry factory in India). Amish Choksi of Brillimpex Exports, Indian director, will handle the local Indian supply of diamonds as well as logistics.
