The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
Renaissance Jewellery Acquires Disney Jewelry Parent Co.
The Indian company will focus on growing Enchanted Disney Fine Jewelry into a global brand.
New York—India-based Renaissance Jewellery Ltd. has acquired Jay Gems Inc., parent company of Jewelmark, Simply Diamonds and Enchanted Disney Fine Jewelry, for $26 million.
Renaissance designs, manufactures and sells gold, silver and platinum jewelry set with diamonds and colored gemstones. It also owns the Verigold brand.
According to Renaissance, Jay Gems saw revenue of $79 million in its latest financial year, with Enchanted Disney Fine Jewelry—launched in 2016—representing about half of that.
Enchanted creates engagement rings, earrings, rings, and pendants inspired by Disney princesses, and is currently carried by stores such as Zales, Kay Jewelers, Reeds Jewelers and JC Penney.
Overall, the New York-based Jay Gems supplies more than 6,000 retailers in the United States, Canada and the United Kingdom. In addition to the aforementioned Signet Group stores, its products are also carried at Fred Meyer, Helzberg, Charm, Riddles and more than 800 independent fine jewelers.
According to a company spokesperson, it will continue to supply retailers currently carrying Enchanted Disney Fine Jewelry and is planning a number of new additions to the collection—inspired by films like “Aladdin,” “Frozen 2,”and commemorating anniversaries of “The Little Mermaid” and “Sleeping Beauty”—in 2019.
“With the financial strength and global distribution of RJL, we expect to be able to grow Enchanted Disney Fine Jewelry into a global brand within five years,” said Renaissance chairman Sumit Shah. “We are also investing in the management of Jay Gems, who will continue to operate the company within the RJL portfolio of brands.”
Specifically, Siraj Shah will continue as president of Jewelmark and Roopam Jain will remain as president of Simply Diamonds and licensed brands.
Renaissance Jewellery’s global sales were $282 million in 2018, representing a 24 percent increase compared with the previous year, the company said. The U.S. market, served by subsidiaries Renaissance Jewelry New York and Verigold Jewelry, accounts for 40 percent of its sales.
In 2016, the company launched another licensed brand—the Hallmark branded line, which is sold at JC Penney, Kohl’s and other major retailers.
The Latest
The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
It will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.