Gitanjali Purchases Majority Interest in Tri-Star Worldwide

Gitanjali Gems Ltd. has purchased a majority stake interest in Tri-Star Worldwide LLC. Last month, Rosy Blue sold its holding in Tri-Star Worldwide, the New York based proprietor and marketer of CANADIA branded diamonds and diamond jewelry.

Tri-Star Worldwide is a BHP Billiton direct customer and a CANADMARK licensee. Gitanjali, a DTC Sightholder, said it plans to expand Tri-Star and the Canadia brand together with Tri-Star founding partner Beny Sofer & Sons. 

The new partnership will give Canadia Diamonds access to Leading Jewelers of the World, an exclusive network of U.S. independent jewelers, owned by Gitanjali, and to Gitanjali’s existing customer base of 1,200 independent retail jewelers.

Mehul Choksi, Chairman of Gitanjali Gems said, “The Tri-Star venture is an ideal fit for Gitanjali, and is consistent with our downstream strategy. Our group will enhance the Canadia model and enable it to reach new heights.”

Tri-Star CEO, Oren Sofer, said, “Gitanjali has extensive global distribution channels. This will help Tri-Star propel Canadia to new levels not only in our existing markets in North America and the United Kingdom, but also in the Indian and Middle-Eastern markets where Gitanjali has well established retail networks.”