Damiani Signs Agreement with Birks & Mayors
JCK Staff -- JCK Online, 10/22/2009 1:44:39 PM
Damiani S.p.A. announced Thursday that they reached a distribution agreement with Birks & Mayors Inc to distribute their brands in North America.
The distribution agreement, which has a five year term, covers all Damiani Group's brands. Based on this agreement, Birks & Mayors would initially purchase $10.6 million Damiani products, to be paid annually starting on February 15th, 2010, of which $5 million can be returned at the termination of the agreement. The agreement also includes the ongoing replenishment of certain products during the term of the agreement.
Damiani's brands will enjoy a highly visible position within the Birks and Mayors stores, and the two companies will coordinate marketing plans to support the sales of the Damiani brands.
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Will Birks & Mayors be using the celebrity indursments that Damiani has. Example..I think Brad Pitt would sells more rings here in the states, if marketed, correctly.
I bought several items from Damiani, including my wedding rings, here in the U.S. I loved the store in the King of Prussia Mall. I just thought the grand scale of celebrity was never utilized to the full protential.
Scott E. Moyer - 2009-26-10 19:28:06 EDT -
It's one way Birks/Mayors can guarantee that they have the product exclusively. There are way too many manufacturers that say that they will only sell one retailer in a given area, than once the line is established in that area, they go and open up the competition. (Pandora) No one forced Damiani into this. I guess we will just have to wait and see
Mark Silverman - 2009-26-10 08:33:51 EDT -
What happened to a retailer buying product and paying for it! Birks & Mayors is paying annually? over five years? and can return 1/2? See you in bankrupcy court!
Jeff Unger - 2009-26-10 06:54:12 EDT
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