From Genoa to London: Gismondi 1754, a Genoese brand that has been producing high-end jewelry for seven generations, signs an exclusive distribution contract with the English company Ermelinda, with the aim of expanding its business in the United Kingdom. The agreement commits Ermelinda, who has many years of experience in the jewelry marketing sector with particular reference to the UK market, to operate as the exclusive distributor of Gismondi 1754, both for the wholesale channel and for special sales.
The agreement comes after years of collaborations with renowned luxury brands and by virtue of a deeply rooted positioning among the so-called high net individuals (i.e. the super rich) of the United Kingdom, in particular from the Middle East.
The international development of our brand marks a very important stage. The United Kingdom is a market that we had already approached directly a few years ago and which has high potential. Entering with an agent who is very well established in the area and strongly motivated towards our brand is a reason for pride and we are very optimistic that we can achieve the objectives set. This agreement also represents a new way of interpreting the business by enhancing the role of the agent, who can become a partner of Gismondi 1754 by marrying its philosophy and economic targets. A model that we could think of replicating also for future international collaborations.
Massimo Gismondi, CEO of Gismondi 1754
The agreement has an initial duration of 24 months and requires Gismondi 1754 to supply Ermelind with a quantity of jewels for viewing, so that he can promote and resell them in the best possible way in the area. Ermelinda, for its part, is committed to reaching a turnover target of 1.3 million euros within two years, under penalty of automatic termination of the agreement for the following years.
If Ermelinda invoices an amount equal to or greater than 1.3 million euros in the first two years and has prepared an industrial plan for the following five shared and deemed satisfactory by Gismondi 1754, the agreement establishes that the parties will continue the collaboration through the establishment of a newco within 90 days, the majority of which will be held by Gismondi 1754. The newco will have as its object the development of the Genoese brand in the United Kingdom.
