PodcastsJan 12, 2026
The latest poscasttest
FinancialsNov 14, 2013
Gitanjali still has eye on U.S. expansion
Gitanjali Group’s U.S. sales grew 12 percent year-over-year in the first two quarters of the fiscal year, and the company remains focused on expanding in markets outside of India.
Mumbai--Gitanjali Group’s U.S. sales grew 12 percent year-over-year in the first two quarters of the fiscal year, and the company remains focused on expanding in markets outside of India.
Globally, Gitanjali’s sales in the first half of the fiscal year, ended Sept. 30, fell 5 percent, from $116.4 million to $110.2 million, the company reported Thursday.
Net profit dropped 75 percent.
Despite the slowdown, Gitanjali noted “strong” growth in the U.S. market specifically, and said that growth is expected to continue at the same pace.
The company also noted, for the second quarter in a row, that it is focusing on markets outside of India, including the United States.
It said it intends to further strengthen and consolidate its international portfolio, with a focus on capitalizing on high-margin mature markets, like the U.S.
During Gitanjali’s second quarter, speculation arose that the chain was looking to acquire recovering U.S. retailer Zale Corp., one of the country’s largest specialty jewelers. Nehal Modi, chairman of Gitanjali USA, said any rumors are conjecture at this point, and a Zale spokeswoman said the company does not comment on rumors.
However, in its second quarter earnings release issued last week the retailer said it is focusing on expanding in certain geographies, including the U.S., both “organically and inorganically,” a statement it also made in the first quarter.
A Mumbai-based retailer and manufacturer, Gitanjali operates Samuels Jewelers Inc. in the United States, which includes the Rogers, Samuels, Andrews and Schubach Jewelers chains as well as Samuels Diamonds.
Editors' Picks
Sponsored by
More on Financials
The Latest
Weekly QuizOct 03, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsJan 12, 2026
Introducing My Next Question, the PodcastA monthly podcast series for jewelry professionals
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
PodcastsNov 27, 2025
Test Podcast With VideoTest Podcast With Video. New interview with Ada Lovelace.
PodcastsNov 25, 2025
Test New Podcast PostAbstract for tests. New Podcast interview with John Lennon, Jimi Hendrix and Jim Morison.
ColumnistsOct 09, 2024
Peter Smith: 7 Things to Know When Selling LuxuryAhead of the holiday season, Smith delves into the often subconscious reasons people buy luxury products for themselves or their loved ones.
AuctionsOct 09, 2024
Rolex Worn on Apollo 14 Mission Up for SaleThe GMT-Master “Pepsi” belonging to astronaut Edgar Mitchell is a standout in RR Auction’s online “Space Auction,” going on now.
MajorsOct 09, 2024
New Simon Campaign Invites Gen Z to ‘Meet Me At The Mall’The ads celebrate the mall culture of the ‘80s and ‘90s.
MajorsOct 09, 2024
PGI Launches New Virtual Sales TrainingRetail sales associates can access the video series on mobile to refresh their selling skills.
Policies & IssuesOct 09, 2024
GJNRF: Reaching Out, Rebuilding Futures For 25 years, India’s Gem & Jewellery National Relief Foundation has provided aid in the wake of war, natural disasters, and global crises.
AuctionsOct 08, 2024
Sotheby’s Selling Jewelry That Belonged to a Bulgarian TsarThe November auction will feature a collection of jewels owned by Ferdinand I, the first king of modern Bulgaria, and his family.
SourcingOct 08, 2024
Rio Tinto Begins New Phase of Production That Will Extend Diavik’s LifeCommercial production has begun underground at the Canadian diamond mine’s A21 pipe.
SurveysOct 08, 2024
What to Know About Online Shopping This Holiday SeasonDeloitte and Adobe Analytics shared their insights on the season, from the retail sales forecast to the role of generative AI.
CollectionsOct 08, 2024
Sylvie Adds New Men’s BandsThe Texas-based jeweler collaborated with luxury clothing brand Uncommon Man on men’s bands designed with European influences.
SourcingOct 08, 2024
Is Current Diamond Industry Turbulence Shaping a ‘New Normal’? Industry players have found ways to cope with market conditions while working to reshape themselves in the face of emerging realities.
SourcingOct 07, 2024
Rio Tinto to Offer 76 Diamonds in 2024 Beyond Rare Tender The sales event, in its second year, features a selection of rare diamonds from the miner’s Argyle and Diavik diamond mines.
CollectionsOct 07, 2024
Olympian Kristi Yamaguchi Partners With Heller Jewelers on New CollectionA portion of the proceeds from the “Always Dream” collection will go to Yamaguchi's foundation, supporting early childhood literacy.
