The jewelry company Bvlgari and Leviev Group have concluded an agreement on a strategic partnership

Saturday, November 28, 2020

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The jewelry company Bvlgari and one of the world's largest producers of cut diamonds, Leviev Group, have concluded an agreement on a strategic partnership, according to Lev Levaev, president of the Leviev Group, and the general director of Bvlgari, Francesco Trapani. Levaev said the agreement would allow the worldwide sale of jewelry collections under the Bvlgari brand name made with Leviev Group diamonds. The company created as the result of the agreement will be named LB Diamond&Jewellery, Levaev said. He said that Bvlgari's profits would now 'sharply increase.' According to Levaev, only a part of Leviev Group's diamonds would be sold under the Bvlgari name. 'The agreement gives us the ability to strengthen our position on the world market, as well as to offer clients a wide assortment of high-quality jewelry at competitive prices,' Trapani said. He said that in his opinion Russia had enormous potential for the production of jewelry, but that production would nevertheless remain in Italy. The company heads declined to address the volume of sales expected as the result of the agreement, saying that it was still too early. Bvlgari owns 180 jewelry stores throughout the world. In 2003, the company had sales of 760 million euros. Annual sales of Leviev Group total up to USD 3 billion.

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