We are delighted to have The Rapaport Group as our partner. Our clients and associates will immensely benefit from Rapaport's information services and global expertise in the diamond industry. Together, we will strive to provide world class information and services to the Indian gem and jewelry trade.
New York, NY (PRWEB) December 3, 2007
The Rapaport Group announced today that it has acquired a 50 percent stake in India's leading Jewelry magazine, The Art of Jewellery. Through its magazine publication, the company provides the highest level of well-researched timely editorial content while also engaging in exhibitions and top industry events throughout India. As a result of these activities, the company enjoys premiere brand quality and is recognized as a catalyst for change in the Indian gem and jewelry sector. Through its association with Rapaport, The Art of Jewellery will be able to penetrate new markets throughout India and rapidly expand its reach.
The Art of Jewellery also serves as the organizer for the leading South India Jewellery Show (SIJS), held annually in Bangalore. It has been the prime mover in promoting the jewelry trade through innovative and well acknowledged initiatives like "Gold Shopping Festivals." In its six years of publishing, the magazine has won several awards and accolades for its contribution to the industry. The Rapaport Group will bring its extensive knowledge and global expertise of the diamond industry to the company's resources.
Martin Rapaport, who will be appointed Chairman of the board of directors, said, "The Indian gem and jewelry sector is one of the fastest growing markets in the world. We are excited to partner with The Art of Jewellery, India's premier jewelry magazine and a well established reputable brand, whose mission of education, enlightenment and market development we share. This investment is a sign of our deep long-term commitment to India's jewelry sector. We appreciate India's wonderful jewelry community for its consistent encouragement and support of our activities in India."
Sumesh Wadhera, CEO, The Art of Jewellery, said, "We are delighted to have The Rapaport Group as our partner. Our clients and associates will immensely benefit from Rapaport's information services and global expertise in the diamond industry. Together, we will strive to provide world class information and services to the Indian gem and jewelry trade."
As part of its expansion, The Art of Jewellery plans to open offices in Surat, Kolkata and Chennai and introduce a number of trade shows in various parts of India as well as provide cutting-edge online information services. The company will retain its distinct brand identity and will operate independently of the Rapaport Group. The Art of Jewellery's head office will remain in Bangalore and all employees will remain with the company.
About the Rapaport Group:
The Rapaport Group is an international network of companies providing added value services that support the development of free, fair and competitive global diamond markets. Established in 1978, the Rapaport Diamond Report is the primary source of diamond prices and market information. Group activities include publishing, research and marketing services, internet information and diamond trading networks, global rough and polished diamond tenders, diamond certification, quality-control, compliance, shipping, and financial services. Major activities of the group include the development of markets for Fair Trade Diamonds and Jewelry as well as the creation of diamond futures markets. Additional information is available at http://www.diamonds.net.
About The Art of Jewellery: The Art of Jewellery:
India's No. 1 Jewellery Magazine has grown in strength to be the leader in jewellery publications and has been recognized by both readers and advertisers as a premier media vehicle.The Art of Jewellery also organizes the SIJS, jewellery trade event and gold shopping festivals across South India in association with World Gold Council.
The Art of Jewellery is promoted by Mr. Sumesh Wadhera, Chief Editor and Executive Publisher, and Mr. Ashok Kumar Wadhera, Publisher and is backed by a team of professionals with rich experience in the media industry. The predominant interest of the group lies in the publishing sector but other activities include exhibitions, events, advertising agency and print production. The Art of Jewellery is the founder member of All India Gem & Jewellery Trade Federation.
The company is headquartered at Bangalore with state-of the art infrastructure and has editorial and marketing offices in Mumbai, Delhi and Jaipur.