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Gitanjali partners with jewelry, watch brand

November 20, 2007

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Bombay, India—The Morellato and Sector Group, an international jewelry and watch manufacturer, has partnered with Gitanjali Gems, one of India's largest integrated diamond and jewelry manufacturers and retailers, to create Morellato India Ltd.

The newly created company, located in Bombay, is a joint venture of equal terms with Gitanjali Gems, a group quoted on the Bombay Stock Exchange as a leader in India's jewelry market, both in terms of the brands in its portfolio and its sales, which were roughly $300 million in 2006.

The agreement between the two companies allows for the distribution of all Morellato and Sector Group's watch and jewelry brands (John Galliano, Just Cavalli Jewels, Just Cavalli Time, Miss Sixty Jewels, Miss Sixty Time, Molecole, Morellato, Philip Watch, Pirelli Pzero Tempo, Roberto Cavalli Timewear and Sector) in both jewelry and watch shops in India and in dedicated stores. Over the next three years, 50 new Morellato point-of-sale stores will be opened in India.

"We are very proud of the creation of Morellato India Ltd. and of the partnership with Gitanjali, since it makes it possible to access the main gateway to a market with great potential, which has always been an example of tradition and quality in the jewelry world," Morellato and Sector Group Managing Director Massimo Carraro said in a media release. "We are bringing Italian design and fashion along with the quality and tradition of our watch production."

Currently, the Morellato and Sector Group has 36 stores throughout the world, which is expected to increase to 80 points of sale in 2008.
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