The weak dollar and a series of bankruptcies among some of the country's largest jewelry retailers have opened the door to foreign-based retailers that have long sought entry into the U.S. market.

With them, these companies bring high hopes for success and, they say, a fresh mix of merchandise that will help their businesses take off where other retailers have failed.

In July, Indian jewelry retailer and manufacturer Titan Industries Ltd. opened its first U.S. store, Tanishq, in Chicago.

About a month later, Australian retailer Michael Hill announced plans to set up shop in the Midwest with the acquisition of 17 stores from bankrupt chain Whitehall Jewelers.

In the meantime, Indian retailer and manufacturer Gitanjali, the company that operates the Rogers and Samuels chains, continues to grow and remains bullish on its U.S. future.

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