Stones from TanzaniteOne to move through Chow Tai Seng.
Richland Resources, owner of TanzaniteOne, has formed an agreement with jewellery manufacturer and retailer Chow Tai Seng to sell cut-to-order stones in China.
According to a report by Proactive Investors, Richland has signed a "polished sight-holder agreement" with Chow Tai Seng for TanzaniteOne gems to be sold through the retailer’s 2,200 jewellery stores in China
Richland chief executive Berrnard Olivier described Chow Tai Seng as one of the world’s most dynamic jewellery companies, adding that he was delighted by the agreement, which will allow Richland to expand its product into such a high growth luxury goods market.
He added: “Working with trusted partners such as Chow Tai Seng, we shall look to introduce more people to some of the world’s most exciting coloured gemstones, starting with tanzanite.
“We look forward to supplying Chow Tai Seng with beautifully cut and ethically mined gemstones for sale to their valued customers."
The company’s shares rose 33% on Thursday following the announcement, increasing 78% in the past month. TanzaniteOne’s Tanzanite Online website launched last month as the business seeks to increase the availability of tanzanite gemstones at a global level.