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Fine Diamonds/Festdiam Cutting affirm strategic initiative with HOTJ
13
Mar '07
House of Taylor Jewelry Inc (HOTJ) announced it has formed a strategic alliance with Fine Diamonds LLC/Festdiam Cutting Works, a Sightholder of the Diamond Trading Company (DTC), the sales and marketing arm of the De Beers Group of Companies.

As part of an international marketing, branding and distribution effort, the initiative vertically integrates the direct sourcing and expert polishing of rough diamonds by Festdiam Cutting Works in South Africa with the branding and distribution of product by House of Taylor Jewelry.

Marketing materials and brand packaging will enable consumers to differentiate and identify HOTJ branded diamonds. Benefiting from this initiative, House of Taylor Jewelry anticipates increased penetration of its diamond program to the retail market, with total diamond sales expected to exceed $20 million in 2007, with such increases continuing into 2008 and beyond.

"We are honored and thrilled to partner with the Meents Family (Fine Diamonds LLC) as we build out our existing marketing platforms to meet the growing global demand from consumers for diamonds of superior quality and craftsmanship," said Jack Abramov, president and chief executive officer of House of Taylor Jewelry.

"We believe that this exciting initiative allows for continued innovation and value-added opportunities going forward as diamonds flow through this shortened pipeline to ultimately provide the consumer with the confidence and assurances of quality andvalue to assist in the purchasing and decision-making process."

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