The Las Vegas Couture was a positive experience for Gismondi 1754. The Italian brand won the Couture Design Award in the Best in Diamonds over $40k category but, in addition, it collected orders for 500,000 dollars from wholesale customers in different US states (200,000 from the Caribbean islands, another 200,000 from Canada and 100,000 from the USA). Additionally, it signed a 10-year distribution and sales agreement with Ippo Group of Hong Kong, for the South Pacific region, with an initial order of $992,000, for a total of $1.49 million. The Asian company specializes in the distribution and sale of luxury products, mainly Italian, in the South Pacific area. The agreement provides for the opening by 2024 of a shop in shop in a new multi-storey department store in Ginza, the luxury district of Tokyo, as well as openings in Macao and Cambodia. In the USA, however, the Genoa-based company (part of the Gismondi group together with Vendorafa) already has corners in Neiman Marcus and Saks, and a network of independent multi-brand stores.
I am enthusiastic about how this second quarter is giving encouraging signs despite a year of crisis in the sector, I am referring to the appreciation of the sector operators in Las Vegas and the orders that have arisen from it, but above all I am referring to the distribution contract signed with the Ippo Group; our entry into the South Pacific area, which I believe offers a huge market for our jewels, we do so by entering through the main door, in Ginza, in a prestigious building where we will have a shop in shop that will cover an entire floor, in one of the most prestigious luxury streets in the world, with a solid partner who immediately inspired us with a common purpose and vision. I look to the future with confidence.
Massimo Gismondi, CEO of Gismondi 1754
