Gismondi 1754 Strengthens Its Presence In The Arab Emirates
With a “first refusal right” clause, an agreement has been sealed between the Genovese brand and a local partner for exclusive dealership rights to its jewelry throughout the Arab Emirates
Gismondi 1754 announces having sealed an exclusive dealership agreement, with a “first refusal right” clause, for its jewelry with a local partner throughout the Arab Emirates. The contract obliges the new partner, which has contacts with the most prominent Emirate families, to achieve a minimum overall target of Gismondi 1754 product purchases to the value of Euro 2,300,000 over 4 years, divided as follows: Euro 250 thousand in 2020/2021; Euro 450 thousand in 2022; Euro 700 thousand in 2023 and Euro 900 thousand in 2024. Should these purchase targets not be reached, Gismondi 1754 will have the right to immediately resolve the contract.
The “first refusal right” clause included in the agreement stipulates both Parties rights and obligations and protects Gismondi 1754 should any other opportunities arise to activate third-party dealerships in the same area by offering, in the first instance, the current dealer the chance to buy a new dealership at the same conditions.
«During and after the lockdown, we had already embarked on intense work to expand Gismondi 1754’s presence in strategic areas around the globe. Since our experience at Vicenzaoro, and then by attending the exclusive “DJWE-Doha Jewellery Watches” exhibition, thanks to our partnership with the Al Farden Group, we received significant signs of appreciation towards our brand in the Middle Eastern area, which this agreement has solidly confirmed,» says Massimo Gismondi, Ceo of Gismondi 1754.
Besides the Middle East, where Gismondi 1754 already has a corner in Doha (Qatar) at a department store belonging to the local luxury group Alfardan (which supplies jewelry to the Royal Family), sales continue on the company’s own e-commerce website.
The “first refusal right” clause included in the agreement stipulates both Parties rights and obligations and protects Gismondi 1754 should any other opportunities arise to activate third-party dealerships in the same area by offering, in the first instance, the current dealer the chance to buy a new dealership at the same conditions.
«During and after the lockdown, we had already embarked on intense work to expand Gismondi 1754’s presence in strategic areas around the globe. Since our experience at Vicenzaoro, and then by attending the exclusive “DJWE-Doha Jewellery Watches” exhibition, thanks to our partnership with the Al Farden Group, we received significant signs of appreciation towards our brand in the Middle Eastern area, which this agreement has solidly confirmed,» says Massimo Gismondi, Ceo of Gismondi 1754.
Besides the Middle East, where Gismondi 1754 already has a corner in Doha (Qatar) at a department store belonging to the local luxury group Alfardan (which supplies jewelry to the Royal Family), sales continue on the company’s own e-commerce website.
