Stargems and Rachminov Announce Joint Venture
March 11, 20
(IDEX Online) - Stargems and A.A. Rachminov are to pool their respective sourcing and marketing resources in a new joint venture.
It will capitalize on Stargem's rough sourcing capabilities as an accredited DTC buyer and A.A. Rachminov's 80-year reputation for polishing, marketing and distribution.
The stones will be sourced in South Africa and most of the manufacturing will be done at the Stargems' cutting facility in Johannesburg.
Stargems is registered at the Dubai Multi Commodities Centre, and has a presence in Antwerp, Mumbai, Johannesburg and Hong Kong. It was founded in 1981 and has diversified from rough trading to manufacturing, wholesaling, retailing, tendering and auctioning.
A.A. Rachminov was founded in the 1940s and supplies providers white and fancy color diamonds worldwide.
Ori Rachminov, of Israel-based A.A. Rachminov, said: "We'll have the luxury to be present from the birth of diamond until it reaches our esteemed clients hand, enabling better value, top quality stones, and refined traceability. We only see incredible potential in this strategic partnership."
Shailesh Javeri, chairman of Stargems, said: "We are extremely privileged to enter into this joint venture with A.A. Rachminov. Our alliance will enable mother nature's gift to us to be sourced and manufactured by the people that should benefit from them and ultimately reach the right people who can appreciate and treasure these wonderful creations."