Moissanite seller Charles & Colvard Ltd. this week said it has sold off the main assets of its direct selling unit, Lulu Avenue, to Yanbal USA Inc.
Yanbal USA is part of Yanbal International, a direct selling enterprise with nearly 500,000 beauty consultants in 10 markets across Latin America and Europe. Based in Lima, Peru, the company came in at No. 20 on the 2015 DSN Global 100 with annual revenue of $856 million.
Now Yanbal is setting its sights on the U.S., and the deal with Charles & Colvard brings the company one step closer.
The purchase includes a $250,000 credit in existing jewelry inventory, marketing collateral, and intellectual property related to Lulu Avenue’s home party sales model, as well as exclusive licensing on that property through July 31, 2016. Yanbal paid the