Magerit

Backgrounds

In 2012, Russian investors (Cosmos-Zoloto) purchased 40% participation in Magerit. Fruitful cooperation did not last long, though, before spiraling into a full-blown conflict, because Cosmos owed to the Madrid office several millions for the delivered goods.

Magerit suffered from the cash flow gap and had to turn to the banks.

Mission

Protect Magerit against the debts of its partner, help solve the cash flow gap problem in a proper manner, avoiding unnecessary damage, and settle the conflict with Cosmos-Zoloto.

Reservation

Mitigate the risks pertinent to financial liabilities before the creditors and partners, while keeping within the legal norms in dealings with the stakeholders and the state, and find the solution as soon as possible.

Solution

Following the request from Magerit, Laduchi Consult saw a good way out – merge the two jewellery brands – Magerit and Carrera y Carrera. However, this ingenious idea implied that our client should part ways with its partners who had driven Magerit into debts. With this in mind, Laduchi Consult:

• Acting flawlessly in terms of legal and financial matters, managed to safeguard the critical partnership between Magerit and Cosmos
  
• Successfully bout out the brand and its rights all over the world
  
• Arranged a meeting between the Magerit owners and our client – jewellery company Carrera y Carrera
  
• Acilitated the merger of two great jewellery houses.

Result

We have preserved the unique team of designers and jewellers by merging two European brands – Magerit and Carrera y Carrera. We helped our client to avoid financial liability for the errors of its former partner.

It is very important for business partners to share one common philosophy and understanding about how to do business. Apparently, the Russian investors from Cosmos and our client had different understanding there. We are proud to have found a decent partner for Magerit, thereby contributing to their thriving business.