EditorsNov 06, 2026
The Spectrum Pieces I Can’t Stop Thinking AboutFrom a Betta fish brooch to a “dragon’s trove” of zircon eggs, here are seven pieces that’ve stuck with Associate Editor Lauren McLemore.
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
TrendsNov 06, 2026
Pat Pruitt’s DragonFly Earrings Take Flight on Election NightGroundbreaking New Mexico Governor-elect Deb Haaland wore the earrings, our Piece of the Week, when she declared victory on Tuesday.
MajorsNov 06, 2026
SNL’s Colin Jost Finds the Perfect Gift in Kay Jewelers’ Holiday AdJost goes on an epic journey, traversing rough seas and encountering a cyclops, to discover the perfect holiday gift.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
Supplier BulletinNov 05, 2026
Winning With GCAL 8X®: What’s Working at the CounterSponsored by GCAL by Sarine
Weekly QuizNov 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysNov 05, 2026
What Retailers Should Know About Holiday Shoppers This YearFrom shrinking budgets to AI elves, here are five takeaways from holiday reports by Bain, Adobe, Mastercard, NRF, and insights from YouGov.
CollectionsNov 05, 2026
Judi Powers, Russell Jones Unleash Joy With New CollaborationThe designers combined their talents for Little Pet Portraits, hand-painted miniatures of our best friends set in a piece of jewelry.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
MajorsNov 05, 2026
Ariana Grande Stars In Swarovski’s Holiday Campaign“Joy: The Swarovski Musical” features Ariana Grande as the leading lady in scenes inspired by classic musical montages.
GradingNov 05, 2026
GIA to Offer Next-Day Holiday ServicesThe lab will bring back its complimentary next-day service for some reports starting next week.
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
IndependentsNov 03, 2026
Zadok Jewelers Toasts To 50 Years With Diamond Bracelet GiveawayTo enter the giveaway, locals can purchase a featured beverage from one of eight participating restaurants in Houston and Austin, Texas.
Events & AwardsNov 03, 2026
David Yurman Gem Awards Grant Opens 2027 ApplicationsThe grant recipient will be awarded $50,000 as well as mentoring meetings with executives at David Yurman and other industry executives.
Events & AwardsNov 03, 2026
NAJA, Instappraise Name 2026 Scholarship WinnersThe winners include a non-NAJA member seeking training, a member beginning NAJA courses, and a member becoming a Certified Master Appraiser.
AuctionsNov 02, 2026
197-Carat ‘Romanov Sapphire’ Heads to Sotheby’s GenevaThe rare jewel, which has links to Russia’s Romanov dynasty, is estimated to fetch up to $2 million.
CrimeNov 02, 2026
Customs Seizes More Than 400 Fake Audemars Piguet WatchesIt is one of several seizures of counterfeit jewelry and watches by U.S. Customs and Border Protection officials in Louisville this year.
MajorsNov 02, 2026
Lawrence Bock, Caryl Capeci, Amanda Coleman-Phelps Join JA Board Jewelers of America announced the additions to its board of directors following its annual general meeting, held last week.
CollectionsNov 02, 2026
Olympian Kristi Yamaguchi, Heller Jewelers Expand ‘Always Dream’ CollectionThe jewelry collection supports Yamaguchi’s Always Dream foundation, which provides reading and educational resources to families in need.
Events & AwardsOct 30, 2026
Illuminating Carved Paraiba Pendant, Suite of Moonstones Wow at Spectrum AwardsSpectrum’s “Best of Show” honors went to a 101-carat Paraiba carved to look like Medusa that has a magnet-activated LED light.
TrendsOct 30, 2026
Edina Kiss’ Pendants Say ‘Eye’m Watching You’Our Halloween Pieces of the Week are four “Eye” pendants, each set with colorful gemstones.
MajorsOct 30, 2026
The RealReal Hires Former eBay Exec as New Chief Merchandising OfficerAlexis Hoopes expanded eBay’s “Authenticity Guarantee” program during her tenure.
WatchesOct 29, 2026
Bucherer Opens Rolex Boutique in Washington StateThe Rolex-owned retailer’s new 4,700-square-foot store’s façade honors the Pacific Northwest’s evergreen forests.
TrendsOct 29, 2026
Amanda's Style File: All Treats, No Tricks Get into the Halloween spirit with this roundup of 13 spooky jewels.
