International News
Advent International Set to Acquire Controlling Stake in Orra Jewellery for Rs 1,750 Crore
US-based private equity firm Advent International is in advanced talks to acquire a controlling stake in Orra Fine Jewellery, a brand previously owned by India’s Rosy Blue Group, according to multiple sources familiar with the deal. The transaction, valued at Rs 1,500-1,750 crore (approximately $174-203 million), highlights the growing interest from investors in the jewellery retail sector.
Advent is expected to take a 51-75% controlling stake, with Dipu Mehta, Orra’s managing director, retaining a minority share. The private equity firm plans to take Orra public within a few years, and as part of the deal, it will assume management and voting rights.
Orra, founded in 2004 by the Rosy Blue Group, sells diamond, gold, and platinum jewellery through a network of stores across India. With design centres in global cities like Antwerp, Tokyo, New York, and Hong Kong, the company has carved out a niche in the premium jewellery market. The deal is now in the final documentation stages, with an official announcement expected soon.
International News
Cartier Romanov sapphire bracelet nets $4.9mn at Sotheby’s Geneva auction
The cushion-shaped sapphire attributed to onetime ownership of Russia’s imperial family was billed as a very rare stone, and had been expected to fetch between 850,000 and 1.7 million francs ($1 million and $2 million)
A Cartier bracelet that was previously part of the imperial Russian crown jewels more than doubled its high estimate to bring in CHF 4.1 million ($4.9 million) at a recent Sotheby’s auction in Geneva.
The cushion-shaped sapphire attributed to onetime ownership of Russia’s imperial family was billed as a very rare stone, and had been expected to fetch between 850,000 and 1.7 million francs ($1 million and $2 million) at the Geneva auction.
The piece centers the cushion-shaped, 197.80-carat Romanov sapphire with the bracelet featuring brilliant-cut diamonds and accented with modified shield-step-cut diamonds. It has an interchangeable engraved rock crystal center embellished with triangular diamonds. The lot was the top seller, beating its CHF 850,000 to CHF 1.7 million ($1 million to $2 million) estimate.
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