DTC sightholder Premier Gem has teamed up with Mouawad for a new partnership that will manufacture diamonds and cater to consumers in the Middle East.
“This is a full blown partnership,” says Premier president Stuart Samuels. “It gives us a lot of synergies, including added capital to compete in the competitive tender environment. Mouawad has one of the strongest [retail] presences in Dubai and the Middle East region. I think these kinds of partnerships are the wave of the future.”
The new company, the Premier Diamond Alliance, will be jointly owned by both partners, Samuels said.
“This new venture will be a win-win, offering Premier Gem Corporation a direct route to the end consumer and for the Mouawad Group, access to consistent supply of high-quality diamonds with an assured ethical provenance,” said Fred Mouawad, fourth generation head of the family business, in a statement. “Premier Diamond Alliance will additionally be in the position to more aggressively compete for the world’s finest rough diamonds through a wide range of direct rough sources.”