Zalemark Inc, a California-based designer and manufacturer of celebrity-endorsed jewelry, and Phu Nhuan Joint Stock Company, Vitenam's largest jewelry manufacturer and retailer, signed a landmark licensing agreement on June 23, 2007 at a highly-publicized meeting overseen by Nguyen Minh Triet, President of Vietnam, at the luxurious St. Regis Hotel in Dana Point, California.
The event came on the heels of the first diplomatic visit by a Vietnamese head of state since 1973 and only after the 109th Congress approved legislation extending permanent normal trade relations to Vietnam last December.
The event was attended by crowds of onlookers, journalists and television crews, since the signing of this agreement opens a new era of trade opportunities for United States and Vietnamese companies.
The agreement, signed by Zalemark CEO Steven Zale and PNJ CEO Madam Cao Thi Ngoc Dung, provides for the licensing and distribution of three of Zalemark's most successful brands: Demeter with Rachel Hunter; I Forever Do; and Diva's Choice. PNJ will license and distribute the lines for sale in its more than 100 retail locations throughout Vietnam.
The agreement also sets up the establishment of a boutique manufacturing facility inside PNJ's Vietnamese factory which will manufacture Zalemark products using technology and quality levels previously unattainable in Vietnam.
Zalemark will oversee the installation, sending experienced training staff,tooling and equipment to outfit the facility. Zalemark's temporary on-site employees will train PNJ personnel to produce Zalemark's lines to the exacting standards produced by Zalemark's own facilities in the United States.
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