Listed jewellery firm PC Jeweller Ltd has acquired bridal jewellery brand Azva from the World Gold Council (WGC) for an undisclosed amount, as per a stock market disclosure.
The acquisition has been routed through one of its wholly-owned subsidiaries.
Launched in 2012 by WGC, Azva Is derived from the Sanskrit word ‘ashvaa’ and was India’s first concept-based gold bridal jewellery brand inspired by the seven sacred vows of the Indian wedding.
Fashioned in 22 karat gold, the Azva collection ranges from 70 grams to over 300 grams and comprises necklace, earrings and bracelets. Azva is exclusively retailed at select jewellery stores in India.
Azva and the Azva logo are trademarks of WGC.
Promoted by brothers Padam Chand Gupta and Balram Garg, PC Jeweller is into manufacturing, retailing and exporting gold, diamond and silver jewellery. The company has a pan-India jewellery retail chain with a focus on diamond and gold jewellery. It went public a little over three years ago.
PC Jeweller currently has more than 58 showrooms across 48 cities in 17 states.
Last year in March, PC Jeweller signed an agreement with Blue Nile Inc, an online jeweller in the US, to evaluate the Indian market for potential online jewellery sales.
As a part of the agreement, PC Jeweller and Blue Nile will initially launch joint branded products.