Zalemark and PNJ Sign Joint Venture

Zalemark, Inc., a designer and manufacturer of celebrity-endorsed jewelry, and Phu Nhuan Joint Stock Company, Vitenam’s largest jewelry manufacturer and retailer, recently signed an agreement that provides for the licensing and distribution of three of Zalemark’s brands: Demeter with Rachel Hunter; I Forever D, and Diva’s Choice. PNJ will license and distribute the lines for sale in its more than 100 retail locations throughout the Southeast Asian country.

The agreement, signed by Zalemark chief executive officer Steven Zale and PNJ chief executive officer Madam Cao Thi Ngoc Dung, came on the heels of the first diplomatic visit by a Vietnamese head of state since 1973 and after the 109th Congress approved legislation extending permanent normal trade relations to Vietnam last December.

The agreement also sets up the establishment of a boutique manufacturing facility inside PNJ’s Vietnamese factory that will manufacture Zalemark products using technology and quality levels previously unattainable in Vietnam, the companies said in a joint statement. Zalemark will outfit the facility. Zalemark’s temporary on-site employees will train PNJ personnel to produce Zalemark’s lines to the standards produced by Zalemark’s facilities in the United States.

In addition, Zalemark, based in Sherman Oaks, Calif., will administrate the establishment of a U.S. branch of the proposed Vietnam Manufacturing Jewelers Association. This will help Vietnamese companies to penetrate the U.S. market, and aid domestic companies with trade in Vietnam.