Collaborative Sales Agreement with Leading Paris Jeweller

08-Dec-2021 Intellasia | Burgundy Diamond Mines | 6:09 PM Print This Post
Collaborative Sales Agreement with Leading Paris Jeweller

Burgundy Diamond Mines Limited (ASX: BDM; “Burgundy” or “the Company”) is pleased to announce the signing of a ground-breaking alliance agreement with leading Paris design jeweller Bäumer Vendôme.

Highlights

* Collaborative profit-sharing agreement whereby Burgundy supplies polished Fancy Diamonds under its unique ultra-luxury brand; Bäumer Vendôme designs, manufactures and sells high-end jewellery pieces featuring these stones;

*Exclusive arrangement over the stunning Argyle Stella™ pink diamond purchased in November 2021, with the details of this arrangement to be announced in early 2022;

*Highly innovative sale agreement over the Fancy Yellow diamonds purchased from Arctic Canadian Diamond Company in October 2021;

*Burgundy establishes French subsidiary company Burgundy Diamonds SARL at 19 Place Vendôme in Paris, which will house Burgundy’s ultra-luxury brand to be launched in 2022.

Bäumer Vendôme is the only independent jeweller on the Place Vendôme in Paris, located amongst the world’s leading ultra-luxury jewellery brands. The principal, Lorenz Bäumer was previously creative director for Louis Vuitton and for Chanel, and is recognised as one of the most influential jewellers of the 21st century. His passion and artistic flair and love of Fancy Colour diamonds will perfectly complement Burgundy’s transformative diamond sector strategies.

The sale agreement over the Fancy Yellow diamonds represents a major advance in Burgundy’s strategy to becoming an end-to-end diamond company. The agreement gives Burgundy access to a significant share of the margin generated by retail jewellery sale and will provide several multiples of value.

This model will be replicated with future sales of other diamonds through Bäumer Vendôme and several other jewellery houses who have shown great interest in Burgundy’s ongoing supply of polished Fancy Diamonds. This supply will come from in-house cutting and polishing of rough diamonds produced at Burgundy’s future mining operations as well as through purchase of third-party rough with impeccable provenance.

Burgundy Managing Director and CEO, Peter Ravenscroft, said “We are excited to be forming this partnership with Bäumer Vendôme as a first entry into the ultra-luxury jewellery sector, enabling us to establish our emerging brand on the Place Vendôme, the epicentre of global luxury.

“This form of collaborative agreement is unprecedented in the diamond industry and positions the Company ideally to extract value from the entire value chain: from exploration through mining operations, to cutting and polishing, jewellery design, manufacturing and retail sale.

“We continue to focus on developing the brand architecture that will enable us to establish similar arrangements with other leading jewellery houses in Paris, London, New York and elsewhere, and further expand our business in the Fancy Diamond sector”.

CEO Lorenz Bäumer added: “We are thrilled to enter this partnership with Burgundy. Their extraordinary Fancy Colour diamonds represent a unique opportunity to create fantastic jewellery, and directly integrate the upstream value chain. Bäumer Vendôme is the first high jewellery brand to move towards the mining industry, showing again its innovative and pioneer spirit, very similar to the Burgundy culture”.

 

Category: FinanceAsia, PRAsia

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