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Private equity and its insatiable appetite for India consumer.
ET reported that global PE giant, Advent International, will buyout up to 75% stake in Orra Jewellery, valuing the business at up to ₹1,750 crore.
The deets: founded by the Rosy Blue Group in 2004, Orra specializes in diamond, gold, and platinum jewellery, mostly appealing to the mid to high wallet urban young audience. Last year, the business made somewhere in the range of ₹1,100 crores in revenue.
Advent plan is to scale Orra and eventually take it public.
The big trend: India’s jewellery market is buzzing with activity. Last year, Tata shelled out ₹4,621 crore for CaratLane. Similarly, Bluestone is cooking IPO ambitions.
Last year, Indians spent nearly $50 billion on gems and jewellery, and probably tens of billions more in unorganized markets. The market is expected to go up to $140 billion by 2030.
