Gemstones & Pearls/News
Company Acquires Pearl Farm
Partnership marks growth in Chinese pearl demand
Signaling once again the importance that Chinese pearls are gaining in the jewelry industry, a jewelry distributor based in New York City has acquired a pearl farm and factory in southern China.
The distributor, Jewelmak, bought Winson Pearl Co., located in Xinhui, for $2.5 million. Winson will continue to manage the farm and pearl processing and stringing operations at the factory, which employees more than 100 workers.
Jewelmak plans to hire even more employees this year to meet increasing demand for akoya and freshwater pearl strands, says Alex Lubschik, Jewelmaks marketing director, in a news release.
The acquisition will help JewelMak to better control quality and to deliver pearls on a more timely basis while reducing production and distribution costs, Lubschik says.
We are very enthusiastic about this venture, Lubschik says. Its a great way to continue providing quality products and better service to our customers.
by Stacey King