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News

EU gemstone trader, HK jewellery maker seal merger

  • Author:Tina
  • Source:Yadao
  • Release on :2014-08-27

An e-commerce gemstone retailer in Berlin and a Hong Kong-based jewellery manufacturer have merged and established a jewellery group in Europe, according to a press release.

Juwelo TV Deutschland GmbH and Silverline Distribution Ltd, jewellery maker and operator of a New York Gemstones online store, have formed elumeo SE, which now has over 1,100 employees worldwide.

The merger also brought together existing joint venture operations of both partners and pools all group-wide activities, the companies said.

In particular, the manufacturing unit located in Chanthaburi, Thailand will be integrated into the group. The new structure will also strengthen the group’s position within the European jewellery market and create a launch pad for business expansion, particularly with regard to e-commerce activities currently being pursued by the company, they said.

elumeo Group operates from six global offices in Berlin, Rome, Bangkok, Hong Kong, Chanthaburi and Leamington Spa (UK).

The company said it expects to generate group revenues of about €70 million ($92.3 million) in 2014.