Damiani to expand its distribution in North America
30/10/2009
Italian jeweller Damiani SpA has announced a distribution agreement with Birks & Mayors Inc, a luxury goods retailer in North America with a network of 65 high-end jewellery and timepieces stores in the principal cities of Canada, Florida and Georgia.
The distribution agreement, which would have a five-year term, covers all Damiani Group’s brands. Based on the agreement, Birks & Mayors would initially purchase US$10.6 million Damiani products, to be paid annually starting on February 15, 2010, of which US$5 million can be returned at the termination of the agreement. Further, the agreement includes the ongoing replenishment of certain products during the term of the agreement.
Under this agreement, all the Damiani Group’s brands will enjoy a highly visible position within the Birks and Mayors stores. In addition, the two companies will coordinate marketing plans to support the sales of the Damiani brands.
