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RAPAPORT... Xcel Brands Inc., the parent company of the Judith Ripka label, signed an exclusive licensing agreement with KGK Jewellery Manufacturing Ltd. to take over the wholesale jewelry business under the Judith Ripka brand. This agreement will give KGK the license to manufacture, source, sell and distribute jewelry, including fine jewelry, diamond jewelry, and bridal jewelry, under the Judith Ripka label.
Robert D'Loren, the CEO of Xcel Brands, said, "I am very excited to partner with KGK Jewellery. This is a powerful alliance for Xcel and KGK with strong growth potential for the wholesale jewelry business under the Judith Ripka brands." Ripka, the chief design officer, said, "I am delighted that KGK has been chosen as our licensee for the wholesale jewelry component of Judith Ripka businesses. Having worked with KGK for over 30 years, I have tremendous respect for the Kothari family. They have demonstrated loyalty, courtesy and the best business practices while operating a very successful and vertically integrated business. I am pleased to join forces with a company that is not only one of the largest De Beers siteholders but which also has access to the highest-quality colored gemstones. I look forward to designing jewelry which will continue to be made by the best craftsmen, using the finest materials and workmanship that my customers have come to expect." Sanjay Kothari, the vice chairman of KGK Group, said, "We are thrilled to partner with Robert D'Loren and Xcel Brands. The partnership will give us the opportunity to combine Judith's distinctive designs with our unrivaled product development and bring exemplary quality product to the marketplace under the Judith Ripka brand. At KGK, our aim is to make and sell the finest jewelry possible with the best in class manufacturing and the finest, rarest of gemstones. We are currently undergoing a vertical integration, getting closer to consumers with our retail ventures and closer to our supply chain by acquiring mines."
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