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Wedknott announces acquisition of Aurezia Events, expands into wedding planning
New Delhi [India], August 18: Elite matchmaking platform Wedknott on Tuesday announced the acquisition of Aurezia Events, a premium wedding planning and design company, marking the company’s entry into India’s wedding services market. Financial terms of the transaction were not disclosed. Wedknott has taken a majority equity stake in the company, it said in a [...]
New Delhi [India], August 18: Elite matchmaking platform Wedknott on Tuesday announced the acquisition of Aurezia Events, a premium wedding planning and design company, marking the company’s entry into India’s wedding services market.
Financial terms of the transaction were not disclosed. Wedknott has taken a majority equity stake in the company, it said in a statement. Aurezia Events will retain its brand name and expand into the broader weddings and events space, with founder Peres continuing as Co-Founder and Director.
India hosts nearly 10 million weddings a year, an economy estimated at US$130 billion (Rs 11 lakh crore) annually, according to industry estimates. The market remains highly fragmented. A single wedding can involve dozens of vendors for venues, decor, photography and hospitality, with quality and accountability varying widely from vendor to vendor.
