House of Taylor in Strategic Alliance with Fine Diamonds LLC

House of Taylor Jewelry, Inc. will join Fine Diamonds LLC/Festdiam Cutting Works in an international marketing, branding and distribution alliance. Fine Diamonds LLC/Festdiam Cutting Works is a Diamond Trading Company (DTC) Sightholder.

According to House of Taylor (NASDAQ HOTJ), “the initiative vertically integrates the direct sourcing and expert polishing of rough diamonds by Festdiam Cutting Works in South Africa with the branding and distribution of product by House of Taylor Jewelry.” Festdiam Managing Director Lester Meents said the alliance involves mainly jewelry, with supply of loose, polished diamonds to certain retailers where need be.

House of Taylor Jewelry anticipates increased penetration of its diamond program into the retail market, with sales to exceed $20 million this year.

Jack Abramov, president and chief executive officer of House of Taylor Jewelry: "We believe that this exciting initiative allows for continued innovation and value-added opportunities going forward as diamonds flow through this shortened pipeline.”

In response, president of New York-based Fine Diamonds LLC said, "The diamond and jewelry industry is following other luxury segments by adding value through brands and branding. I am confident that working with House of Taylor Jewelry on marketing initiatives will greatly enhance our respective businesses."

The two companies plan to work together to provide educational scholarships for families in the diamond industry in Africa, House of Taylor Jewelry said in the release.

House of Taylor Jewelry collections are marketed under the brands Elizabeth, House of Taylor Jewelry, and Kathy Ireland Jewelry Exclusively for House of Taylor Jewelry. Taylor and Ireland are principal shareholders in the company.