Chow Tai Seng Becomes TanzaniteOne Sightholder

(IDEX Online News) – TanzaniteOne, a subsidiary of Richland Resources Ltd., has announced that it will be selling finished tanzanite stones into China after signing what it calls a polished Sightholder agreement with jewelry company Chow Tai Seng.

The retailer will be selling cut-to-order stones through its 2,200 jewelry stores across the country.

“Chow Tai Seng is one of the world's most dynamic jewelry companies and I am delighted by today's agreement that allows Richland to expand its product into such a high growth luxury goods market,” said Richland CEO Bernard Olivier.

“The Chow Tai Seng organization continues to grow in China and is excited to be entering into the gemstone market with an ethical mine to market supply chain. We look forward to working with Richland Resources and its subsidiary, TanzaniteOne to create exciting new product ranges for China’s consumers,” said Chow Tai Seng chairman Zhou Zongwen.

Other tanzanite Sightholders include Intercolor, KGK Gems and AG Color Inc.