SAMT Holding to offer accessories of Italian brand Caviar in Armenia

ArmInfo. SAMT Holding will be operating in Meridian Jewelry Free Economic Zone in Armenia for 5 years. A decision on it was adopted at the Government on February 4.

Minister of Economy Karen Chshmarityan said in his report that the company seeks to invest $500,000 in the jewelry sector in Armenia.  The investments will be used in the production of 6,000 accessories under famous brand Caviar. The company will be provided with a territory of 60sq/m. 25 new jobs will be created.  The founder of Caviar brand is the Italian jeweler Elia Giacometti. In 2014, he designed luxurious golden iPad mini. 

"Meridian" Jewelry Free Economic Zone is a unique platform with cluster infrastructures organized for jewelry, diamond cutting and watchmaking. It was opened in Yerevan in 2014 in the line with Government's decision to organize Free Economic Zone and recognize Meridian as its organizer. $10 million were invested in the establishment of the FEZ.

According to the National Statistical Service of Armenia, the production of jewelry in Armenia amounted to 18.1 bln drams in 2015 with a 61% year-on-year growth.