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Market NewsNewsPolygon signs $12 mn jv with DMCC to support expansion

Polygon signs $12 mn jv with DMCC to support expansion

Polygon, the business-to-business online marketplace for the jewellery industry, and the Dubai Metals and Commodities Centre (DMCC), said on Monday they had formed a $12 million joint venture corporation for the expansion of Polygon throughout Africa, Asia, and the Middle East.  

“Polygon is well established in North America. “This joint venture will bring additional resources needed to grow Polygon in some of the most strategic areas for our industry,” said Jacques Voorhees, founder and CEO of Polygon.

DMCC’s deal with Polygon gives it an online component.

“Rather than build it ourselves, it made sense to turn to industry-leader Polygon and leverage the strength of the two organizations—not just in Dubai but across Asia and Africa,” it said.

The new venture will be based in Dubai.

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