KGK Group to manufacture moissanite jewelry

Diamonds

Save

E-mail

KGK Group to manufacture moissanite jewelry

May 18, 2007

Similar Stories | Topics

STORIES

Charles and Colvard reports decrease in 1Q sales

Charles and Colvard 4Q sales up 3 percent

Jewelry price inflation continues to moderate

Couture 2009 to intro new VIP retail jewelers

The Eight-Figure Independents: Luxury on hold

TOPICS

Morrisville, N.C.—Charles and Colvard has announced that India-based KGK Group has become the company's newest manufacturer of fine moissanite jewelry.

KGK Group is a global corporation with fully integrated diamond, colored-gemstone and jewelry operations. Its customers include high-end independent retailers, upscale department stores and designers around the world, and thus has the potential to expand Charles and Colvard's reach in these areas.

"While we are in the early stages of our relationship with the KGK Group, this relationship can allow us to develop additional channels of revenue, both in the United States and internationally, and broaden our penetration in the higher-end luxury market," Charles and Colvard president and chief marketing officer Dennis Reed said in a media release.

The new line of jewelry combines moissanite and high-quality diamonds in 18-karat yellow and white gold, platinum and palladium settings. The collection, which will debut at the JCK Las Vegas show, includes stud earrings, pendants, bracelets, rings and moissanite jewels by the yard.

"As we look to increase awareness and grow the moissanite brand, working with manufacturers such as the KGK Group to develop distinct, fashionable designs of moissanite jewelry can help broaden our reach among women at the higher end of our target market," Reed added.

Louis Karten, managing director of Guild Solutions LLC, the U.S. marketing partner of the KGK Group, China, said the association will be good for both companies.

"Charles and Colvard targets its moissanite to the self-purchasing woman, who is the core customer for our marketing efforts as well," he said. "Working with Charles and Colvard was the ideal next step for KGK as a manufacturer because they have uniquely positioned moissanite in the marketplace."

In other corporate developments, Charles and Colvard is seeking proposals from advertising agencies to help sharpen its creative message to consumers and to develop and execute a new marketing campaign by the fourth quarter. This comes following an extensive review of historical and current marketing campaigns and initiatives.

In addition to the new promotional campaign, new programs designed to increase consumer awareness about moissanite include: a moissanite television commercial in conjunction with a regional department store chain, Internet-based search-engine marketing, and an outdoor advertising campaign test linked to mall jewelers in three geographic markets in the United States.

"Our marketing research confirms that we are being successful in reaching our target audience, and that they are recognizing the fundamental positioning we have established for Charles and Colvard-created moissanite," Charles and Colvard chairman and chief executive officer Bob Thomas said. "Expanding awareness and consumer demand is a high priority for our organization, and we intend to continue to provide an appropriate level of support to the retailers who choose to market fine moissanite jewelry."

Thomas also noted that research shows that from January 2006 to January 2007 the awareness level for moissanite in the United States grew from 7.8 percent to 10.5 percent overall, and from 8 percent to more than 20 percent among consumers with household incomes above $75,000.

Since March, Thomas said the company has realigned its sales and marketing staffs and has added talent to the organization. The goal of these efforts—along with a sharper advertising message—is to ensure the continued success of the category, he said.

"I am very pleased to welcome KGK and their partner, Guild Solutions LLC, to our list of direct customers. We believe that their decision to become involved in our category affirms the growing position of moissanite in the jewelry market," Thomas concluded.

Save

E-mail

Diamonds

Industry calling for swift action on Zimbabwe

Jewelers of America is calling on the Kimberley Process to fully and quickly implement a work plan to address the serious concerns surrounding Zimbabwe's non-compliance with the Kimberley Process Certification Scheme, the system designed to keep conflict diamonds out of the international trade, and the reported human rights abuses in the Marange diamond fields. Read More

Sotheby's reports record-breaking sales in Geneva

Diamond symposium focuses on 'new normal'

More Diamonds

More Like This

Charles and Colvard reports decrease in 1Q sales

April 25, 2007 | National Jeweler Network

Charles and Colvard 4Q sales up 3 percent

February 15, 2007 | National Jeweler Network

Jewelry price inflation continues to moderate

May 20, 2009 | National Jeweler Network

Couture 2009 to intro new VIP retail jewelers

May 20, 2009 | National Jeweler Network

The Eight-Figure Independents: Luxury on hold

May 18, 2009 | National Jeweler Network

TOPICS

Video

Retailer Toolbar

America's Best Jewelers
Join the ONLY Social Network for Jewelry Retailers. Get access to expert content, peer best practices, and more.
Start networking today.

Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.

ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.

Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.

Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.

CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.