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GRT Jewellers (India) Private Limited has acquired TBZ, the largest licensing company in the Iberian Peninsula, for an undisclosed amount. The transaction transfers full ownership of TBZ to the Indian jewellery group, marking a definitive change in corporate control rather than a capital-raising exercise.
TBZ, with a 12-year operating history in the Iberian market, has built a strong presence in sports and entertainment licensing. The company has represented more than 60 properties and maintains over 600 active licensors. Its operations span nine offices across Europe, including Lisbon, Oporto, Barcelona, Madrid, and London, with a workforce exceeding 200 employees. TBZ’s core business involves differentiating client products through licensing, promotional action, distribution, consulting, and brand management.
GRT Jewellers, a prominent name in the Indian retail jewellery sector, is expanding beyond its traditional core business through this purchase. The acquisition provides GRT with an established platform in European licensing, a sector distinct from its primary jewellery operations. For GRT, the deal offers immediate access to TBZ’s extensive network of licensors and its operational footprint across multiple European markets, which would have been difficult to build organically.
For TBZ, the acquisition brings the financial backing and corporate stability of a larger parent group. The company can leverage GRT’s resources to pursue larger licensing agreements and potentially expand its property portfolio. The combined entity is expected to benefit from GRT’s capital strength and TBZ’s specialised market knowledge, allowing TBZ to operate with greater scale while maintaining its existing client relationships and European office structure.
The acquisition positions the combined group to pursue growth in both the Indian jewellery market and the European licensing sector. TBZ’s established relationships with over 600 licensors provide a solid revenue base, while GRT’s ownership introduces new financial capacity for future expansion. The integration of TBZ into GRT’s corporate structure will likely proceed with TBZ retaining its operational identity, given the distinct nature of the two businesses.