Bulgari, the contemporary Italian Jeweler and global luxury brand, and the Leviev Group, the world’s largest producer of cut diamonds, on Wednesday announced a joint venture that will allow the brand to buy cut stones directly from the Israeli-based diamond producer.
The two companies plan to base their joint venture in Switzerland. The new company will be split evenly between Bulgari International Corp., a fully owned subsidiary of Bulgari S.p.A., and LLD Diamonds Ltd., a fully owned subsidiary of Leviev Group. The venture will secure a highly competitive supply of diamonds by the Leviev Group to Bulgari to create exclusive collections of jewels designed and produced by Bulgari.
This joint venture, which allows the Bulgari Group to further integrate its production process in the diamond jewelry segment, will enable the company to offer its final clientele the best collections, in terms of cost and quality, with unique stones—including the rarest blue, red, pink and green diamonds—distinguished by an unmistakable and timeless design. The Leviev Group has cutting facilities in Israel, Russia, and the CIS (Commonwealth of Independent States), the U.S., and other locations; and works its own mines in Angola, Russia, Namibia, and other locations.