Majors

Richline Group Acquires Silpada Designs

MajorsOct 24, 2016

Richline Group Acquires Silpada Designs

The deal includes the Silpada brand name, designs, and all the company’s sterling silver and fashion jewelry inventory.

New York--Richline Group announced that it has acquired home sales jewelry company Silpada.

Terms of the deal were not disclosed.

The acquisition includes the Silpada brand name, its jewelry designs, and all the company’s sterling silver and fashion jewelry inventory.

Moving forward, the manufacturer said it would refocus the brand around its sterling silver offerings. The company said it will retain Silpada’s price points, which generally range from $30 to $300 at retail.

When asked if Richline would continue the direct selling model for the brand, Richline Chief Marketing Officer Mark Hanna told National Jeweler it was “working now to determine the best ways to bring Silpada back to its loyal fan base.”

For now, the manufacturer said it will continue to serve the brand’s customer base with the core products it is known for, as well as a previously unreleased line of jewelry, while it works to create a new direction for Silpada.

Silpada was founded nearly two decades ago by two stay-at-home mothers, Bonnie Kelly and Teresa Walsh, as a direct selling business, but it has changed hands a few times since then.

Avon acquired the brand in 2010 for $650 million, but the founders bought it back three years later for just $85 million. Then, earlier this year, Kelly and Walsh announced that they had decided to shut down the company, as it had been losing money since 2010.

With the acquisition, the Kelly and Walsh families no longer will be a part of Silpada, Richline said.

Going forward, Silpada will be operated out of Richline’s East Coast offices, involving teams from New York, Boston and Florida.

Richline CEO Dennis Ulrich said in a press release announcing the acquisition that, “We see a tremendous opportunity to bring Silpada back to its creative roots.

“We plan to focus exclusively on these unique and accessible sterling silver designs that have clearly resonated with so many women across the world. We look forward to honoring the Silpada legacy while finding new ways to invigorate this unique and nationally recognized brand.”

Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

The Latest

AuctionsApr 16, 2021
Try On This Diamond and Pearl Tiara Before It Heads to Auction

Sotheby’s created an Instagram filter for the crown, estimated to sell for up to $1.5 million.

SurveysApr 16, 2021
March Retail Sales Surge

Another round of stimulus checks helped to bolster last month’s retail sales.

CollectionsApr 16, 2021
Supplier Kim International Revives its Catalog

It showcases 2021 and 2022 styles, with most ready to ship from Dallas, Texas.

Brought to you by
4 Reasons You Need This Program for Mother’s Day

Learn how to increase customer loyalty and revenue by making JM™ Care Plan a cornerstone of your business plan.

TrendsApr 16, 2021
Piece of the Week: Anthony Lent’s ‘Lunar Galaxy’ Earrings

Colorful gems enliven a classic celestial motif.

Weekly QuizApr 16, 2021
This Week's Quiz
Test your knowledge of jewelry news from the week of April 12-16, 2021.
Take the Quiz
TechnologyApr 15, 2021
Blue Nile Hires Amazon, Timex Execs

The jewelry retailer named a new chief operating officer and senior vice president of supply chain.

CollectionsApr 15, 2021
Check Out Stone and Strand’s First Bridal Collection

All six styles are priced under $2,000.

Brought to you by
Evaluating Your Inventory For Success in 2021 

After months of pandemic-driven social distancing, restrictions and lock-downs, consumers will be excited to visit your store. Now is the time to ensure you have the right inventory on-hand to capitalize on that excitement!

GradingApr 15, 2021
GCAL Introduces Its New Cut Grade Standard, 8X

Diamonds must receive a grade of “excellent” across eight criteria to be deemed an 8X.

×