22 Sep 2009 08:08
22 September 2009
TanzaniteOne Limited
("TanzaniteOne" or "the Company") (AIM: TNZ)
Marketing and Sales Update
TanzaniteOne Limited, the gemstones producer and developer is pleased to announce its new Marketing and Sales strategy to complement its current sight holder system.
Highlights
Establishment of TanzaniteOne CuttingEdge JV
Memorandum of Understanding ("MoU") signed with GRAFGEM S.A.,
Memorandum of Understanding ("MoU") signed with Alankara SKR (Pvt). Ltd.
TanzaniteOne - CuttingEdge JV
TanzaniteOne has successfully negotiated a Joint Venture ("JV") including the principals behind Australian based Charles Edward International. The JV partner is headed by Gavin Pearce and Edward Eramanis and the new Company is called TanzaniteOne CuttingEdge. The JV Company is 51% owned by TanzaniteOne Ltd and 49% by its JV partners.
The JV Company will focus on precision cutting and visual optimisation of predominantly lighter coloured tanzanites. The JV Company is also establishing sales and marketing channels for TanzaniteOne's included and fractured material. This will be achieved through the development of specialised polishing and product strategies.
TanzaniteOne CuttingEdge will cut calibrated stones on order, thereby eliminating the risk of having large quantities of unsold stock. These stones will be sold through existing retail connections identified by the JV Company predominantly located in Europe and Asia. Revenue received by the JV Company for stones and jewellery will reflect the cutting and when applicable, setting of the stones in jewellery custom designed for the JV.
Bernard Olivier, Executive Director of TanzaniteOne said: "A principal aim of the JV is to increase the value of the lighter pastel coloured and slightly included tanzanite. This initiative will complement and enhance Tanzanite One's present sales strategy, which is centred on the sale of rough tanzanite via the sight holder system. We are very please to welcome Gavin Pearce and Edward Eramanis onto the board of TanzaniteOne CuttingEdge. Gavin Pearce, previously Sales Executive for Argyle Diamonds Ltd., will be Marketing and Sales Director of TanzaniteOne Cutting Edge. Edward Eramanis is CEO of Charles Edward Jewellers."
The establishment of TanzaniteOne CuttingEdge has already resulted in the signing of two Memorandum of Understandings ("MoU's") with leading international cutting and distribution houses, namely GRAFGEM S.A., and Alankara SKR Ltd (ASKR Jewelry).
GRAFGEM S.A.
TanzaniteOne CuttingEdge has entered into a Memorandum of Understanding ("MoU") with GRAFGEM S.A. of Geneva, Switzerland. Under the terms of the MoU TanzaniteOne CuttingEdge and GRAFGEM will aim to develop an exclusive marketing and sales agreement for uncompromised precision cuts of the highest quality for use in the watch and jewellery industry. For more information of GRAFGEM S.A. please visit their website at: www.grafgem.ch.
Alankara SKR (Pvt.) Ltd (ASKR Jewelry)
TanzaniteOne CuttingEdge has also entered into a Memorandum of Understanding ("MoU") with ASKR Jewelry of Colombo, Sri Lanka. Under the terms of the MoU TanzaniteOne CuttingEdge and ASKR Jewelry will develop a high-tolerance cutting and polishing cooperation. TanzaniteOne CuttingEdge is also developing a jewellery design and manufacturing collaboration that will be marketed by both parties. The collaboration between the JV Company and ASKR Jewelry will be based on a vertical integrated, mine-to-wholesale pre-order system. For more information on ASKR Jewelry please visit their website at: www.askrjewelry.com.
END
For more information, please visit www.tanzaniteone.com or contact:
| Bernard Olivier, Executive Director | Public Relations Laurence Read/Beth Harris |
| +61 408948182 | Threadneedle Communications +44 (0)7979 955923 |
| Nominated Advisor and Joint Broker Evolution Securities | Joint Broker Ambrian Partners |
| Simon Edwards or Neil Elliot | Richard Chase |
| +44 (0)20 7071 4300 | +44 (0)20 7634 4700 |