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
US Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
While Overall Buying Power Remains High, Ongoing Inflation and Rising Household Costs Mean Some Families Will Have To Watch Their Spending More Carefully Than Others
The National Retail Federation (NRF) predicts Americans will spend $1.01 trillion on holiday shopping in November and December. That is a 4.2% jump from $972 billion last year.
NRF said its forecast was based on economic modeling that incorporates consumer spending, employment, wages and historical retail sales data. It excludes automobile, gasoline and restaurant sales
Extra Hiring: To handle the surge in shoppers, stores plan to hire 325,000 to 375,000 temporary holiday workers.
Mixed Budget Impact: Higher gas prices and inflation could still strain some family budgets, affecting low- and high-income shoppers differently.
Retailers expect a strong shopping season because people continue to make holiday spending a priority.
Store owners are ready to attract shoppers by offering competitive prices, deals, and choices for every budget.
While overall buying power remains high, ongoing inflation and rising household costs mean some families will have to watch their spending more carefully than others.
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