Renaissance Buys Disney-Themed Jeweler

RAPAPORT... India's Renaissance Jewellery (RJL) has acquired Jay Gems, aUS-based supplier of Disney-themed jewelry, for $26 million. The move expands the Mumbai-based company'spresence in the US, Jay Gems said Monday. RJL will gain access to Jay's three subsidiaries:Jewelmark, a manufacturer that focuses on bridal and fine jewelry for specialtystores; Simply Diamonds, which caters to independent jewelers; and EnchantedDisney Fine Jewelry, a supplier of Disney-princess-inspired engagement rings,earrings, rings and pendants. Jay Gems recorded revenue of $79 million in its latestfinancial year, with its Disney-themed subsidiary accounting for more than halfits overall sales, it said. The company supplies to more than 6,000 retailers,including Signet Jewelers, Fred Meyer and Helzberg Diamonds. Jay Gems'management will continue to run its operations. "With the financial strength and global distribution of RJL,we expect to be able to grow Enchanted Disney Fine Jewelry into a global brandwithin five years," Renaissance vice chairman Sumit Shah said Monday. Image: A princess-style silver ring.with diamonds, shaped like a tiara. (Enchanted Disney Fine Jewelry)