The Indian jewellery scene is about to witness a significant power shift. US buyout giant Advent International is poised to acquire a controlling stake in Orra Fine Jewellery, the renowned brand owned by diamond behemoth Rosy Blue Group. This potential deal, whispered to be in the range of Rs 1,500-1,750 crore ($174-203 million), underscores the rising allure of the jewellery retail sector for investors.
Whispers in the industry suggest Advent’s interest in Orra has been simmering for months, with exclusive discussions taking place. The acquisition would grant Advent a controlling interest, estimated between 51-75%, while Orra’s managing director, Dipu Mehta, is expected to retain a minority stake. Sources indicate that a key element of Advent’s strategy is a planned public listing for Orra in the coming years. This move signals a significant vote of confidence in the brand’s potential and the buoyancy of the market.
Orra, with design centres spanning the globe from Antwerp to Tokyo, has a rich heritage dating back to 1888. Its retail arm, launched in 2004, offers a dazzling array of diamond, gold, and platinum creations through both brick-and-mortar stores and a thriving online presence. The company has been strategically seeking partners to fuel its growth trajectory, both within India and internationally, amidst the dynamic landscape of new-age competitors and the rise of lab-grown diamonds.
This potential acquisition follows a wave of activity in the jewellery retail space. Titan’s substantial investment in CaratLane, and the successful listing of the International Gemological Institute, highlight the sector’s current dynamism. Bluestone’s recent IPO filing further underscores this trend.
For Advent, a global investment powerhouse with a diverse portfolio including Zimmerman’s Jewellery and Lululemon, Orra represents a strategic fit within its consumer-focused investment philosophy. With a strong track record in India, Advent’s involvement could mark a transformative chapter for Orra, propelling the brand to new heights of success. While official statements are pending, the industry is abuzz with anticipation for this potentially game-changing development.
