Sky Gold Limited acquires Starmangalsutra and Sparkling Chains to expand portfolio

Jewellery business Sky Gold Limited has acquired Starmangalsutra Private Limited and Sparkling Chains Private Limited. By adding these two jewellery labels to its roster, Sky Gold has diversified its offering with a wide range of mangalsutras and chains.

“These acquisitions are expected to enhance our margins through the combined synergies of the enterprise,” said Sky Gold Limited’s managing director and CFO Mangesh Chauhan, India Retailing reported. “Mangalsutras have become a fashion statement in recent years, blending modern aesthetics with timeless Indian traditions. There is a growing demand for versatile mangalsutras and chains today. This acquisition will not only enable us to meet current demand but also drive continued growth and innovation across our product portfolio.”
 
Sky Gold invested a total of Rs 26 crore in Sparkling Chains Private Limited and Rs 23.98 crore in Starmangalsutra Private Limited. Existing shareholders of both Starmangalsutra and Sparkling Chains will be issued shares of Sky Gold on a preferential basis.
 
Sparkling Chains Private Limited specialises in chains and jewellery featuring chains. The brand works with gold as well as silver and other precious metals.
 
Starmangalsutra Private Limited specialises in mangalsutra necklaces, often worn by brides and married women. With designs ranging from dainty and modern to more heavyweight and traditional, the label caters to a range of customer demographics and tastes.