Goldmoney Announces Investment in Menē Inc.

JacHumphreyJacHumphrey Posts: 19 Staff ✭✭✭✭✭
Luxury online jewelry venture founded in partnership with Diana Widmaier-Picasso to offer pure 24 karat gold designs

Goldmoney Inc. today announced its investment in Menē Inc. (“Menē”), a newly formed direct-to-consumer fine jewelry venture. Menē will manufacture and retail timeless 24 karat gold jewelry online through an innovative first-to-market user experience and transparent pricing model.

Menē Inc., founded by Roy Sebag and noted art historian Diana Widmaier-Picasso, has its principal office located at 6 Place Vendome in Paris, France. Goldmoney Inc. has secured the largest equity investment in Menē Inc. after Menē founders Roy Sebag and Diana Widmaier-Picasso. Menē has agreed to exclusive dealing, storage, and wholesale distribution with Goldmoney as part of the investment.

Sebag, the largest shareholder of both Goldmoney and Menē, serves as Chief Executive Officer of the venture. Menē creative and artistic direction is overseen by Ms. Widmaier-Picasso, who serves as Chief Artistic Director. Multifaceted designer Sunjoo Moon, who formerly designed for Missoni and LVMH’s Kenzo brand, serves as Creative Director.

By crafting timeless gold jewelry and providing a transparent and empowering shopping experience, Menē aims to revive the ancient tradition of jewelry as a store of enduring value and accessible savings. Menē is currently in closed private beta and will launch to the greater public in the fall of 2017.

Menē – The Name
Menē (“meh-ney”) is an ancient Aramaic word with a deep meaning that links jewelry, gold, money, and savings. A “Menē”, reflecting 567 grams of pure gold, is the first written word for “money” as codified in the Code of Hammurabi approximately 4,000 years ago. For much of written history, humans exchanged value by pricing goods and services in units of “menē”, which provided a predefined measurement of gold. Those units were often ultimately settled as pure 24 karat jewelry that could be readily exchanged. This ancient tradition, though often misunderstood by economists, is alive and well in the East where pure gold jewelry powers a savings economy in which jewelry is bought, sold, exchanged, and borrowed against as an asset that maintains its purchasing power.

Additional information about Goldmoney’s investment in Menē Inc. will be provided in upcoming company presentations and public disclosures, including the potential distribution of Menē Inc. shares to Goldmoney investors.

About Menē Inc.

Menē designs, manufactures, and markets timeless 24 karat gold jewelry that is retailed direct-to-consumer through a transparent, innovative, and empowering online experience. Menē enables customers to buy, sell, and exchange jewelry by weight at the prevailing daily price for gold as quoted on international bullion markets. Menē Inc.’s mission is to revive the ancient tradition of jewelry as a store of enduring value and accessible savings.

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