Charles & Colvard, Ltd., said it has begun the process of closing its Hong Kong operations with expected completion by the end of September 2008.
The Morrisville-based company, the sole source of moissanite, a created jewel available for use in fine jewelry, in a statement Friday, said it will continue to pursue all of its opportunities in Asia from the United States office and all customers that are serviced from the Hong Kong office will be transitioned to the U.S. The company will continue to be an exhibitor at the Hong Kong Jewellery Show in September.
“The Hong Kong office was instrumental to Charles & Colvard in the early stages of growth, enabling our company to build solid relationships and a strong reputation in a region of the world that has become the center of fine jewelry manufacturing,” said Dennis Reed, president and chief marketing officer. “This strategic move is aimed at freeing up resources to take on new initiatives and to enable the company to further support our customers in the region serviced by Hong Kong and around the world.”