House of Taylor Jewelry, Inc., a Los Angeles-based jewelry company founded by Dame Elizabeth Taylor and Jack and Monty Abramov, of Mirabelle Luxury Concepts, have completed a merger transaction with Nurescell Inc., a publicly traded holding company, which has adopted the House of Taylor Jewelry, Inc. name for its newly merged corporation.
In connection with the merger agreement, through its subsidiary Global Jewelry Concepts, Inc., Nurescell has exchanged 30 million shares of its common stock for 100% of the issued and outstanding shares of common stock of House of Taylor Jewelry. Following the merger House of Taylor will have approximately 33.75 million outstanding shares of common stock and under certain circumstances may issue an additional 2 million shares of common stock to an entity controlled by Taylor based on performance criteria.
The company’s board of directors has appointed Jack Abramov as president and CEO; Jack Brehm as chief financial officer; and Monty Abramov as vice president and design director. Jack and Monty Abramov were principals of Mirabelle Luxury Concepts and Techline Jewelry Corporation, the Los Angeles-based jewelry business operated by their family for two generations and best known for its “Mirabelle 18K” boutique consumer brand and its Techline Jewelry collections. Brehm is a former audit partner of Ernst & Young, LLP. The company intends promptly to expand its three-member board of directors and form independent audit and compensation committees.
House of Taylor Jewelry has also entered into a license agreement with Kathy Ireland Worldwide(TM), the Lifestyle Design and Marketing firm, to bring fashion and bridal jewelry to market as Kathy Ireland Jewelry exclusively for House of Taylor Jewelry.