TechnologyAug 26, 2021
Jacmel Acquires The Boho Boutique Amid Digital PushMajorsSep 20, 2021
Investment Company Acquires Lugano Diamonds for $256M
Compass Diversified scooped up the California-based jeweler known for its one-of-a-kind designs.
A pair of heart-shaped blue diamond earrings surrounded by a pink diamond halo and set in 18-karat white and rose gold alongside a matching ring by Lugano Diamonds & Jewelry. The jeweler, known for its one-of-a-kind pieces, was acquired by Compass Diversified in a deal valued at $256 million. (Image courtesy of Lugano Diamonds & Jewelry’s website)
Westport, Conn.—Investment holding company Compass Diversified has acquired Lugano Diamonds & Jewelry Inc. in a deal valued at $256 million.
Founded in 2004, Lugano Diamonds & Jewelry designs and manufactures high-end, one-of-a-kind jewelry for its clientele.
Its salon-based sales model makes for an intimate experience and has helped to build strong connections and a loyal customer base, said the companies in a press release about the acquisition.
The Newport Beach, California-based jeweler also partners with local organizations to host and sponsor more than 100 equestrian, social and philanthropic events, endearing the jeweler to the community.
“We are excited to bring a growing luxury goods brand like Lugano to the CODI portfolio of niche-branded consumer subsidiaries,” said Elias Sabo, CEO of Compass Diversified (CODI).
“Lugano’s deep commitment to product design and authentic connection with its target clientele differentiates it from its competitors. We believe that Lugano, as a trusted jewelry advisor offering a rare combination of exclusivity and service, has a sustainable business model capable of generating significant revenues and growth in both the near- and long-term.”
Related stories will be right here …
Founded in 2004, Lugano Diamonds & Jewelry designs and manufactures high-end, one-of-a-kind jewelry for its clientele.
Its salon-based sales model makes for an intimate experience and has helped to build strong connections and a loyal customer base, said the companies in a press release about the acquisition.
The Newport Beach, California-based jeweler also partners with local organizations to host and sponsor more than 100 equestrian, social and philanthropic events, endearing the jeweler to the community.
“We are excited to bring a growing luxury goods brand like Lugano to the CODI portfolio of niche-branded consumer subsidiaries,” said Elias Sabo, CEO of Compass Diversified (CODI).
“Lugano’s deep commitment to product design and authentic connection with its target clientele differentiates it from its competitors. We believe that Lugano, as a trusted jewelry advisor offering a rare combination of exclusivity and service, has a sustainable business model capable of generating significant revenues and growth in both the near- and long-term.”
The investment company will provide resources and capital to help the jeweler continue to grow and to expand its team, said Sabo.
The jeweler will use the funds to up its merchandising strategy, continue its retail rollout, and bolster its marketing efforts, with a particular focus on events.
Lugano’s current leadership team will remain in place and the existing owners and management will retain a “significant” minority stake in the company.
“For over a decade we have sought to deliver one-of-a-kind jewelry through special, curated experiences that stand apart from mainstream jewelry buying experiences,” said Moti Ferder, co-founder and CEO of Lugano.
“With this dedication to high-quality and authentic connections with our consumers, we have built a loyal, long-term consumer base, and we expect CODI’s support will provide us the resources to introduce more clients to Lugano’s model. Together, we are poised to transform the high-end jewelry retail space for the benefit of our valued clients.”
Lugano currently has four retail salons as well as pop-up showrooms at its hosted events.
Its salons are located in: Newport Beach, California; Aspen, Colorado; and Palm Beach and Ocala, Florida.
Editors' Picks
Sponsored by
More on Majors
The Latest
Recorded WebinarsMay 27, 2022
Watch: The 5 Things I Always Take to a Trade ShowEditor-in-Chief Michelle Graff is joined by three industry veterans to talk about the items they never leave behind and why.
CollectionsMay 27, 2022
92Y Has Selected its 2022 Artist in ResidenceGerman jewelry artist Alexander Blank is the fourth designer to receive the honor.
CollectionsMay 27, 2022
Piece of the Week: Which Movie Inspired This Chopard Masterpiece?The answer is “Hair,” and the necklace is from Chopard’s 2022 Red Carpet Collection, rolled out at the Cannes Film Festival.
Brought to you by
3 Reasons to Offer Estate Buying at Your StoreProvide your customers with a seamless selling solution by partnering with Windsor Jewelers, Inc.
Supplier BulletinMay 26, 2022
Extraordinary Italian Jewelry at JCK and COUTURESponsored by Italian Trade Agency
Weekly QuizMay 26, 2022
This Week’s QuizTest your knowledge of the latest jewelry news with this quick test.
SourcingMay 26, 2022
Q&A: Deciphering De Beers’ Blockchain PlatformDavid Prager virtually sat down with Editor-in-Chief Michelle Graff to answer questions about the rollout of Tracr at scale.
AuctionsMay 26, 2022
Bonhams New York Jewels Auction Is a White Glove SaleJewelry and objects belonging to Bette Midler, heiress Hélène Irwin Crocker Fagan, and Lady Sylvia Ashley were among the highlights.
Brought to you by
Dive into GIA’s Pearl ExpertiseWhen it comes to knowing the identity and quality of your pearls, count on GIA as your independent pearl experts.
FinancialsMay 26, 2022
Movado Posts Record Q1 Sales Despite ‘Challenging’ US MarketThe company opted not to raise its fiscal guidance, citing a slowdown in the U.S. market as a key reason.
TechnologyMay 26, 2022
State of Retail: The Pros and Cons of 4 Jewelry-Selling PlatformsFrom “old-school” eBay to new kid on the block 1stDibs, we asked jewelers about their experiences selling jewelry in non-traditional places.
Policies & IssuesMay 26, 2022
Barbara Wheat Named Executive Director of Ethical Metalsmiths She has nearly 30 years’ experience in the gem and jewelry industry and a background in nonprofit management.
EditorsMay 25, 2022
7 Standout Tiaras in Sotheby’s Platinum Jubilee ExhibitionSenior Editor Brecken Branstrator chooses the pieces she’d most want to see in person.
IndependentsMay 25, 2022
The Mexican Shack to Close After 47 YearsOwner Steve Delzio shares his thoughts on retirement after nearly five decades in the jewelry industry.
IndependentsMay 25, 2022
Designer Theo Fennell Has Written a Memoir “I Fear for This Boy” takes readers through the ups and downs of his business and is available for pre-order now.
IndependentsMay 25, 2022
MVEye, Wedding Report Partner on New Jewelry Research Platform“Today’s Wedding Jewelry Consumer” shares data about engagement ring market size, lab-grown and natural diamonds, and more.
ColumnistsMay 24, 2022
The PR Adviser: 10 Questions to Contemplate Columnist Lilian Raji wants to walk you through the customer journey. But first, she’d like you to answer a few questions.
Events & AwardsMay 24, 2022
8 Gold Jewelry Designers Unveil New Platinum DesignsSeveral Couture brands have partnered with Platinum Guild International ahead of the jewelry trade show.
Lab-GrownMay 24, 2022
Kendra Scott Unveils Lab-Grown Engagement Ring CollectionThe jewelry company is moving into bridal just a month after branching out into the watch world.
SourcingMay 24, 2022
State of the Diamond Industry: Where Does Supply Go From Here?The 2008 economic crisis, COVID-19, and sanctions on Russian goods have set the stage for an interesting decade for natural diamond supply.
Events & AwardsMay 24, 2022
WJA to Host Diversity Keynote at New Las Vegas Breakfast Event The Generating Community Impact fundraiser on June 11 will feature Karine Bah Tahé of Blue Level Training.
WatchesMay 23, 2022
Steven Kaiser, Watch Industry Veteran and Beloved Mentor, Dies at 68 Kaiser, whose illustrious career spanned decades, died suddenly on Friday.
IndependentsMay 23, 2022
Long’s Jewelers to Open New LocationThe family-owned jeweler is relocating its Braintree, Massachusetts, store to a new space.
IndependentsMay 23, 2022
Luxury Goods Veteran Olivier Stip Joins Chicago Jeweler CD Peacock He will step into the retailer’s newly created role of chief development officer.
GradingMay 23, 2022
Gem-A Launches Digital Entry-Level Gemology CourseGemIntro is meant to give a broad introduction to gems and gemology.
Recorded WebinarsMay 20, 2022
Watch: Responsible Sourcing and the Gold Supply Chain Three industry experts discuss “recycled” gold vs. mined, their challenges and benefits, and how jewelers can navigate the area.
FinancialsMay 20, 2022
Richemont’s 2022 Jewelry Sales in the Americas Nearly DoubleCartier, Van Cleef & Arpels, and Buccellati put on stellar performances.
AuctionsMay 20, 2022
Piece of the Week: ‘Birds in Flight’ by Oscar Heyman The New York jeweler made this incredible, colorful Art Deco bracelet featuring tropical birds in 1927.
