American Exchange Group Acquires Danecraft
The accessories conglomerate is expanding its reach in the jewelry industry.
The amount of the acquisition was not disclosed.
Danecraft was founded in 1934 by the Primavera family in Providence, Rhode Island, with its roots dating back to the early 1900s in Italy.
The company, best known for its Primavera Italy brand, crafts fashion and fine jewelry. Its jewelry is sold at several retailers, including Macy’s, Kohl’s, Belk, JCPenney, Burlington, Boscov’s, and Meijer.
“This transaction marks an exciting new chapter for Danecraft, one that not only honors our legacy but also propels us into a future of limitless possibilities,” said Danecraft CEO Victor Primavera.
“Danecraft will continue to create exceptional jewelry that captures the essence of generations past while embracing the trends of today. I know that the company is in excellent hands with American Exchange Group, and our tradition of excellence will thrive.”
American Exchange Group CEO Alen Mamrout said the company is looking to expand its influence in the jewelry industry.
Its existing portfolio of watch and jewelry brands includes Kendall & Kylie, Alexis Bendel, Ed Hardy, and American Exchange.
"I firmly believe in a holistic approach when seeking out brands to add to our portfolio, focusing on opportunities that genuinely enrich and elevate our customers' lives,” said Mamrout.
American Exchange Group plans to leverage its existing logistics structure, sourcing, and manufacturing capabilities to expand Danecraft’s product range.
With the help of Giant Propeller, a creative services and digital marketing company it recently acquired, American Exchange Group will create a marketing and sales strategy for Danecraft, and launch a direct-to-consumer channel.
“Together, with Danecraft’s solid and long-standing retailer relationships, the two companies will work to expand distribution channels and introduce Danecraft to a diverse range of categories and audiences,” said American Exchange Group.
New York-based American Exchange Group’s portfolio includes a range of accessories companies, including Aerosoles, Rocawear, Jones New York, and Adrienne Vittadini.
The Latest
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.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
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.
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.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.