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Gitanjali buys US-based Rogers for $18.5 mn

Jewellery maker and retailer Gitanjali Gems Ltd has bought US-based jewellery chain Rogers for $18.5 million, its top official said on Monday.

“A further investment of $20 million will be made,” Chairman Mehul Choksi said.

The Indian firm bought the entire stake in Rogers, which operates 46 stores and had revenue of about $80 million, it said in a statement.
In December 2006, Gitanjali had bought a 97 per cent stake in another US-based retailer, Samuels Jewelers Inc. (ET)

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