De Beers Signs Contract with Luk Fook Holdings

RAPAPORT reported that Luk Fook Holdings signed a three-year sightholder rough diamond sales contract with the De Beers Group of Companies for the period that ends on March 31, 2018.

As quoted in the market news,

Luk Fook was established in 1991 and operates 1,350 retail stores, with shops  in Mainland China, Hong Kong, Macau, Singapore, Canada, Australia and the U.S. In addition, the company manufactures jewelry at its 350,000-square-foot facility in Nansha, Guangzhou, China.

Wong Wai Sheung, Luk Fook’s chairman and CEO, stated:

We are delighted to have qualified as a sightholder of De Beers for the next three years. This gives us direct access to high-quality diamonds from the world’s largest rough diamond supplier. Our status as a sightholder of De Beers, demonstrates not only our market leadership and diamond credentials, but also our ability to meet De Beer’s stringent qualification criteria. This will increase public confidence in our product quality.

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