RAPAPORT... The Mouawad Group and Premier Gem Corporation created a joint venture, the ''Premier Diamond Alliance,'' in an effort to integrate the supply chain and provide a secure and consistent supply of high-quality diamonds to the luxury retailer.
Stuart Samuels, the president of Premier Gem, said, ''We are delighted that after two generations of personal family friendship and active trading history with the Mouawad family, we are now able to fully align our business interests. This is truly a very exciting development in both of our businesses.''
Fred Mouawad, a fourth generation co-guardian of Mouawad, added, ''This new venture will be a win-win, offering Premier Gem Corporation a direct route to the end consumer and for the Mouawad Group, access to consistent supply of high-quality diamonds with an assured ethical provenance.''
In other news, Mouawad recently opened its new flagship boutique at Jameel Square in Jeddah, Saudi Arabia. Mouawad's new space opens across 700-square-meters, it was designed by Fred and his brother Pascal in the gray and gold colors of the Mouawad brand image and includes a private viewing room.
Pascal said, ''Fred and I committed to expanding our distribution reach in the region and the opening of the new Jeddah boutique marks the start of the fulfillment of those plans. With two other new Mouawad boutiques opening this month in Doha and Kuwait, and plans for another three outlets in the Middle East by the end of this year, we are investing in expansion in the region in which we have our roots.''