K-uno, co., LTD. the custom-made jewelry store chain with locations throughout Japan (“K.UNO”, Headquarters: Nagoya, Aichi Prefecture, President: Masahiko Kuno) and Primo Japan Inc., the bridal jewelry specialty store that operates 112 stores in Japan and Asia（”Primo Japan”, Headquarters：Chuo-ku, Tokyo, President: Naoki Sawano） are pleased to announce their joint venture through the formation of a new company in Taiwan, a result of both companies’ expansion of their bridal jewelry design, production, and sales business. The first store to open is scheduled for summer 2019, with the aim of opening 5 stores in Taiwan over three years by 2021.

 

K.UNO, Primo Japan and Primo Diamond Taiwan Inc. (“Primo Taiwan”), a subsidiary of Primo Japan, have entered into a joint venture agreement among the three companies, with K.UNO and Primo Taiwan investing 50% each. With tailor-made products from K.UNO and Primo Taiwan’s local expertise and support handling sales and marketing, we hope to further expand our jewelry business in the Taiwanese market.

 

Established in 1981, K.UNO specializes on custom-made products sold through the K.UNO brand, the only brand of its kind that operates throughout Japan. Developed by their designers, who have created 40,000 different designs over the years, K.UNO was the first company in Japan to be awarded a patent for their diamond-cutting technology with its excellent craftsmanship. K.UNO owns the largest individual factory within the jewelry factory in Japan, which employs approximately 150 craftspeople. We hope to bring the increasingly popular culture of customized products made in Japan that embody the shape the customer envisions to a wider audience around the world.

While Primo Taiwan was established in 2007 and is wholly owned by Primo Japan, 11 I-PRIMO stores, specializing in Japanese-style “personalized customer service”, and an online store have opened across Taiwan, the company achieved a market share of approximately 7 % of the bridal jewelry market in 2018. In order to increase our market share further in the Taiwanese market, in which customers have a variety of different tastes, we recognize the need to expand beyond the I-PRIMO brand.

With these shared goals, our companies have come to an agreement in establishing this joint venture.

 

Prior to establishing this joint venture company, we conducted test marketing in Taiwan and found that customers were extremely interested in the quality and originality of K.UNO’s products. We believe this cooperation between our companies will allow us to maximize each other’s strengths, making it possible to reach a new bridal customer base.  

 

The name of the new company, along with those of board members, store locations and specific details of the products that will be offered, etc., will be announced promptly after all formal procedures have been completed.