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KGK Group Acquires Stake in Unique Settings
The Mumbai- and New York-based companies announced the news at the JCK Las Vegas jewelry trade show.
Las Vegas--Mumbai-based KGK Group announced it has purchased a stake in manufacturer Unique Settings of New York.
Neither financial terms of the deal nor size of the stake were disclosed.
The two companies announced the news at the JCK Las Vegas jewelry trade show, which ended Monday. They said the move “aims at optimally serving their patrons with a wider range of services.”
The KGK Group is a vertically-integrated company, covering the spectrum of mining, sourcing, manufacturing and distributing colored stones, diamonds and jewelry for more than a century.
It also owns the Martin Flyer bridal brand and Gregg Ruth, a finished colored gemstone jewelry brand.
New York-based Unique Settings employs about 200 employees and offers a spectrum of products, including bridal jewelry and wedding bands, as well as services for retail partners like making changes to existing pieces in a collection or creating new one-of-a-kind designs.
KGK said none of Unique Setting’s services would be relocated. A spokesperson for the company told National Jeweler a new website would be launched soon for Unique to offer live order tracking and making KGK’s stones available to customers.
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