Primo Japan Inc., which operates Primo Global Holdings Co., Ltd.'s business in Japan, will be expanding its Lazare Diamond business in Japan in partnership with Lazare Kaplan International Inc. (Headquarters: New York City, President: Leon Tempelsman) and Lazare Kaplan Japan Inc. (Headquarters: Taito-ku, Tokyo, President: Shoichi Akechi) as follows.
Primo Japan Inc. ("PJ"), which operates the Japanese business of Primo Global Holdings Co., Ltd., a bridal jewelry planning and sales company, has agreed to acquire the trademark rights for Lazare Diamond® and related rights in Japan from Lazare Kaplan International ("LKI"), the global brand holder of Lazare Diamond®, and Lazare Kaplan Japan ("LKJ"), LKI's Japanese branch. This will give PJ the exclusive right to sell Lazare Diamond in Japan and help LKI and LKJ maintain their commitment to product quality and expand Lazare Diamond sales in Japan by maintaining exclusive supply rights of loose Lazare diamonds to PJ.
◆Path to This Agreement
In June 2003, PJ opened Lazare Diamond Boutique Ginza Main Store, the first in Japan. For the past 20 years, the company has sold jewelry featuring the high quality and sophisticated design of Lazare Diamonds. Currently, there are 15 Lazare Diamond boutiques in Japan.
As the Japanese branch of LKI, LKJ has been the exclusive supplier of diamonds to PJ's Lazare Diamond Boutique and has distributed Lazare Diamond products to independent retailers and department stores throughout Japan for 25 years.
Over 20 years of partnership, the two companies have built a relationship of trust, respect, and a shared commitment to quality. Together, these companies have supplied the growing Japanese market with high quality diamond products. Consequently, the companies have entered into this agreement on the transfer of intellectual property and exclusive sales of the Lazare Diamond brand in Japan. This agreement secures a path for future growth.
◆Immediate Developments
During the half-year transition period will involve the transfer and integration of the brand website, marketing, products, and logistics systems. A system will also be created to allow existing department stores and independent retailers to carry even more Lazare Diamond products. In addition to streamlining marketing and raising awareness of the Lazare Diamond brand, PJ plans to expand the domestic sales channels for Lazare Diamond.
◆About Lazare Diamond®
Hailed as "The World's Most Beautiful Diamond®," Lazare Diamonds is one of the most prominent diamond brands in the world. Its quality, beauty, and shine are recognized worldwide. All Lazare Diamond jewelry is carefully designed and crafted to highlight the unique characteristics of the diamond itself.
◆About Lazare Kaplan International Inc.
Founded over 120 years ago, LKI has earned an unparalleled reputation in the diamond industry for its leadership, commitment to product quality, and ethical business practices. It is best known for its premium line of ideally proportioned diamonds sold internationally under the brand name Lazare Diamond®.