Kuwait firm, Kingold sign JV deal

April 2014

A LEADING Chinese maker of gold ornaments and investment-oriented products has announced a partnership with Kuwait Support Services Company WLL (KSS).

Kingold Jewellery Inc and KSS, between whom a joint venture agreement has been signed, will form a combined entity to source and finance gold and to develop, market, and distribute gold products including, but not limited to, gold coins, gold bullion, medals, ornaments, and jewellery, a statement said.

The company expects to market these products initially to customers in Kuwait, and then to customers in Bahrain, Oman, Qatar, Saudi Arabia, and the UAE.

Zhihong Jia, Kingold chairman and CEO, said the joint venture firm will explore the fast growing Middle East gold market. “This marks the first international business expansion for Kingold and we are looking forward to partnering with KSS to provide our quality gold products to a large population of potential consumers,” he added.

Centrally located in Wuhan City, one of China’s largest cities, Kingold was founded in 2002 and today is one of China’s leading designers and manufacturers of 24-karat gold jewellery, ornaments, and investment-oriented products. It sells both directly to retailers as well as through major distributors across China. Kingold has received several industry awards and has been a member of the Shanghai Gold Exchange since 2003.

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