GradingJan 13, 2023
Sarine To Acquire Majority Stake in GCAL MajorsJan 20, 2023
Quality Gold Acquires Herco
Herco President Reuven Itelman is retiring and selling the company, which will relocate to Ohio from California.
Quality Gold has announced plans to acquire Herco, the San Francisco-based jewelry wholesaler founded in 1979 that specializes in higher-end 14- and 18-karat gold and platinum jewelry.
Fairfield, Ohio—Quality Gold has made another acquisition.
The jewelry wholesaler and distributor announced late Thursday it is buying Herco Jewelry Company, the San Francisco-based wholesaler started by the Itelman family in 1979.
Herco President Reuven Itelman is retiring and said he wanted to find a buyer that would keep the Herco name alive.
He believes he found that in Quality Gold.
“In speaking with and getting to know [Quality Gold co-founder and CEO] Michael Langhammer, I have complete confidence that the long-lasting Herco reputation that has been important to me is now in good hands with Quality Gold. Quality Gold has a strong relationship with independent jewelers and a plan for Herco to live on,” Itelman said.
For Quality Gold, the acquisition of Herco gives it the ability to distribute more 18-karat gold and platinum jewelry and tap into Herco’s network of luxury independent retailers, all while still offering jewelry under the Herco brand.
Herco generated more than $25 million in revenue (unaudited) in its latest fiscal year ended Dec. 31, 2022.
Quality Gold Chief Operating Officer Jason Langhammer called it a “smart and strong addition” for the company.
“We expect as a result of this transaction, there is the potential for significant synergies that will make Herco, and by extension Quality Gold, stronger companies. We look forward to building upon their success and continuing to offer the Herco brand to retailers,” he said.
Terms of the transaction are not being disclosed.
Quality Gold will begin fulfilling Herco orders in mid- to late February and will honor all current retailer memos, the company confirmed.
Over time, Herco’s operations will move from San Francisco to Quality Gold’s headquarters in Fairfield, Ohio, a Cincinnati suburb. Quality Gold said information is not available at this time as to whether it will retain any of Herco’s employees.
The deal is expected to be completed by mid-February.
“I am incredibly grateful to the entire jewelry community that my family and I have had the pleasure to be part of for 43 years,” Itelman said.
“Over the years, I’ve developed relationships with manufacturers and retailers worldwide. There is nothing more beautiful than the jewelry business. It is where art, engineering, and design come together. It has given me great fulfillment in my life, and I’ve learned so much from others who care deeply about this industry.”
The pending purchase of Herco is the latest in a series of acquisitions for Quality Gold, which most recently bought IBGoodman Manufacturing Co.
Last fall, Quality Gold announced plans to go public via a merger with Special Purpose Acquisition Company (SPAC) Tastemaker Acquisition Corp.
That deal is expected to close sometime in the first quarter of 2023.
Once it does, Quality Gold will become Quality Gold Holdings Inc. and trade on the Nasdaq stock exchange under the ticker symbol “QGLD.”
More on Majors
The Latest
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
IndependentsApr 16, 2026
Edge Retail Academy Updates Leadership TeamAs demand for jewelry retail coaching grows, the company has established a dedicated business coaching leadership team.
CrimeApr 16, 2026
FBI Issues Warning to Refineries, Retailers Due to High Price of GoldThe alert states that burglary crews are targeting jewelry businesses and details how jewelers and refineries can protect themselves.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
PodcastsApr 15, 2026
Episode 4: The Natural Diamond DilemmaSally Morrison and Mark Klein discuss De Beers’ first beacon in 16 years and the mistake the industry made with lab-grown diamonds.
Weekly QuizApr 09, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesApr 15, 2026
These Are the New Rolex Watches for 2026Rolex focused exclusively on the Oyster Perpetual this year, as the model is celebrating its 100th anniversary.
FinancialsApr 15, 2026
Kering’s Jewelry Shines in Q1, Gucci’s Struggle ContinuesThe luxury giant discussed the Middle East conflict and its transformation plans, hinting at a stronger jewelry presence in North America.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
SourcingApr 15, 2026
Diamond Club West Coast Names 2026 BoardKalpesh Jhaveri was re-elected as president for a third year.
TechnologyApr 15, 2026
This Jewelry Brand’s Video Series Is Up for a Webby Award“Diamond Divas,” a social media reality series by Shahla Karimi Jewelry, is nominated in the “Best Social: Fashion & Beauty” category.
SourcingApr 14, 2026
De Beers Expands ‘Desert Diamonds’ Beacon Into BridalThe campaign seeks to reignite desire for natural diamond engagement rings by highlighting the “distinct character” of warm-toned diamonds.
FinancialsApr 14, 2026
LVMH’s Q1 Sales Sink 6% Amid Middle East ConflictPlus, how Saks Global’s bankruptcy affected the luxury giant’s first quarter.
SourcingApr 14, 2026
International Jade Summit to Return to MontereyPresented by Mason-Kay Jade, the summit, in its second year, will again be held during the Monterey Bay Jade Festival.
Events & AwardsApr 14, 2026
CBG Releases Details for Las Vegas ShowThe group has announced its lineup of speakers and a new “Rising Stars” pavilion.
CollectionsApr 13, 2026
Uniform Object’s New Jewelry Collection Centers on the ‘Carbon Form’The “Carbon Form” collection explores the contrast between high and low materials, using rubber cord alongside 18-karat gold and gemstones.
Events & AwardsApr 13, 2026
JA Accepting 2026 Impact Initiative ApplicationsThe program provides essential funding to organizations for projects that enhance the jewelry industry.
Events & AwardsApr 13, 2026
Couture Announces New Show in MiamiThe jewelry trade show is launching its first open-to-the-public event in Coconut Grove this November.
CrimeApr 13, 2026
JSA Offers Reward in Oregon Jewelry Store Armed RobberyJSA is seeking information about the gunpoint robbery of a Kay Jewelers location in Oregon’s Washington Square Mall.
WatchesApr 10, 2026
These Watches Have Increased in Value the Most Since 2018, Says Chrono24The top-performing watch models may be surprising, with Rolex and several popular pandemic-era picks notably absent from the top 20.
CollectionsApr 10, 2026
Ophelia Eve’s Toggle Pendant Holds Your SecretsThe “Scroll” toggle pendant, our Piece of the Week, opens to reveal a hidden message, mantra, or love letter written on washi paper.
ColumnistsApr 09, 2026
Jewelry Demand Isn’t Stronger, Prices Are Just Higher Jewelers who misinterpret the state of the jewelry market risk employing the wrong retail strategy, cautions columnist Sherry Smith.
MajorsApr 09, 2026
Tiffany & Co. Promotes Nathalie Verdeille to SVP, Chief Artistic OfficerIn her newly expanded role, she will continue to oversee the jewelry category, as well as watches, home, and accessories.
WatchesApr 09, 2026
Jacob & Co. Rolls Out Its Sequel to ‘The Godfather’ Musical Watch“The Godfather II” watch plays two melodies from the mob film’s score, “The Godfather’s Waltz” and “The Godfather Love Theme.”
Events & AwardsApr 09, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerOrganizers have also introduced the new JCK Talks Signature Series, as well as an offering of watch-focused workshops and lectures.
SourcingApr 09, 2026
AGA To Honor ‘Quiet Leadership’ With New AwardThe Alan Hodgkinson Medal recognizes gemologists who are consistently generous with their time and expertise.
WatchesApr 09, 2026
Oris Names New CEO, CFOThe Swiss watchmaker is changing up its executive leadership team as part of a restructuring.
CollectionsApr 08, 2026
Hearts On Fire Celebrates 30 Years By Asking a QuestionThe “What’s Your Signature?” campaign invites women to think about how they see themselves.
