International News
Birks Acquires European Boutique Chain in $6.6M Deal to Expand Luxury Retail Presence
The acquisition also grants Birks operational control over integrated storefronts featuring premium labels such as TAG Heuer, Gucci, and Diamonds Direct. As part of the deal, Birks has signed a licensing agreement to manage the Diamonds Direct brand within Canada.
Birks Group has announced the acquisition of Canadian diamond and luxury watch retailer European Boutique for CAD 9 million (approximately $6.6 million USD). The purchase includes four multi-brand retail stores and three mono-brand boutiques — Omega, Breitling, and Montblanc — located in high-traffic malls across the Greater Toronto Area.
The transaction includes European Boutique’s national e-commerce platform, expanding Birks’ digital footprint.
“This acquisition strengthens our luxury positioning and aligns with our long-term growth strategy,” said Birks CEO Jean-Christophe Bédos. “We’re excited to integrate the European team, including Jordan Sutkiewicz and Michelle Ceresney, into the Birks family.”
To finance the acquisition, Birks secured CAD 13.5 million ($9.9 million USD) from senior lender SLR Credit Solutions and an additional CAD 3.8 million ($2.8 million USD) in working capital from Mangrove Holding, a controlling shareholder. Both loans are due by the end of 2026.
Birks added it remains actively focused on securing further funding and strategic opportunities to drive its expansion across Canada’s luxury retail sector.
GJEPC hosted HE Mr. Vinod Jacob, Ambassador of India to the Kingdom of Bahrain, during Jewellery Arabia 2025, where GJEPC organised the India Pavilion for the 22nd consecutive year.
Held from 25 to 29 November at Exhibition World Bahrain, the India Pavilion was a key gateway for Indian exporters to engage with key buyers from Bahrain, Saudi Arabia, Kuwait, Qatar and the wider region.
Antrarpal Singh, Regional Chairman – North, GJEPC, and the GJEPC team received the Ambassador on 26 November. He toured the pavilion, interacted with exhibitors, and conveyed his support for their continued growth. Mr. Singh briefed him on India’s strengths in gold, studded jewellery, lab-grown diamonds and silver jewellery.
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