All totaled, there are approximately 800 gemstone firms exhibiting and approximately 560 diamond suppliers. The business can be rethinking conventional business models and advertising and sales methods to raised align with its target customers, he said. The jewelry firm reiterated that the assertion of Material Adverse Effect due to COVID-19 has “no factual, contractual or authorized assist”. It also refuted claims that it had mismanaged the crisis, stating that store closures have been “entirely consistent with its authorized obligations” and carried out to protect the safety of workers and clients.

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