Jewellery Designer and Manufacturer, Tara Jewels has said that it has signed an exclusive manufacturing and supply Agreement with Sterling Jewelers Inc (USA) which is a part of Signet Group. The Signet group is the largest specialty jeweller in USA and UK particularly for the brand Angel Sanchez.
"A launch order valued at Rs. 29 crores (approximately $ 4.4 million) has been successfully delivered. The designs are being tested initially in about 60 stores. Sterling Jewelers Inc (USA) has approximately 1400 stores in America," Tara Jewels Limited informed in a filing to the Bombay Stock Exchange.
Tara Jewels Ltd is an integrated player from designing manufacturing, exports to retailing with manufacturing facility and distribution offices in China, United States.
Sterling Jewelers, Inc. is the largest American specialty fine jewellery company in terms of sales and the number of stores. Sterling Jewelers is a wholly owned subsidiary of UK-based Signet Jewelers Limited.
Meanwhile, shares of the company closed at Rs 32.85 a piece, down 0.61 per cent from the previous close on BSE.