WatchesDec 14, 2023
Breitling Just Bought a 129-Year-Old Watch Brand MajorsJan 18, 2024
Quality Gold Is Making Another Acquisition
It is buying Swiss Crown USA, a wholesaler that specializes in independently certified pre-owned Rolexes.
Quality Gold Inc. will acquire Swiss Crown USA in a deal expected to close by the end of the month.
Fairfield, Ohio—Quality Gold Inc. announced earlier this week that it will acquire Swiss Crown USA.
Founded by Daniel Marks and Scott Freberg, Swiss Crown USA has been distributing secondhand Rolex watches since 2013, a decade before Rolex announced it would begin certifying used watches and making them available via its official network of retailers.
The watches Swiss Crown USA distributes are not part of the Rolex Certified Pre-Owned program and are instead certified by an independent third-party company.
In the news release announcing the acquisition, Quality Gold noted: “Rolex and the model names mentioned are registered trademarks of Rolex Watch U.S.A. Inc.
“Quality Gold Inc. and Swiss Crown USA are not authorized dealers for, nor affiliated with, endorsed by Rolex Watch U.S.A. Inc. or any of its affiliates or subsidiaries.”
Quality Gold CEO Michael Langhammer said Swiss Crown USA is an “ideal acquisition” for the company because of its strong reputation and expertise in the market.
“The Swiss Crown team created a loyal retailer base, and we look forward to having the opportunity to leverage their industry expertise, product portfolio, and customer network as we continue to deliver value to our retail partners,” he said.
Quality Gold Chief Operating Officer Jason Langhammer added, “This acquisition accelerates our growth, particularly within the pre-owned Rolex watch segment. It is a smart and strong addition for us.
“We look forward to building upon their success and continuing to offer the Swiss Crown USA brand to retailers.”
Related stories will be right here …
Founded by Daniel Marks and Scott Freberg, Swiss Crown USA has been distributing secondhand Rolex watches since 2013, a decade before Rolex announced it would begin certifying used watches and making them available via its official network of retailers.
The watches Swiss Crown USA distributes are not part of the Rolex Certified Pre-Owned program and are instead certified by an independent third-party company.
In the news release announcing the acquisition, Quality Gold noted: “Rolex and the model names mentioned are registered trademarks of Rolex Watch U.S.A. Inc.
“Quality Gold Inc. and Swiss Crown USA are not authorized dealers for, nor affiliated with, endorsed by Rolex Watch U.S.A. Inc. or any of its affiliates or subsidiaries.”
Quality Gold CEO Michael Langhammer said Swiss Crown USA is an “ideal acquisition” for the company because of its strong reputation and expertise in the market.
“The Swiss Crown team created a loyal retailer base, and we look forward to having the opportunity to leverage their industry expertise, product portfolio, and customer network as we continue to deliver value to our retail partners,” he said.
Quality Gold Chief Operating Officer Jason Langhammer added, “This acquisition accelerates our growth, particularly within the pre-owned Rolex watch segment. It is a smart and strong addition for us.
“We look forward to building upon their success and continuing to offer the Swiss Crown USA brand to retailers.”
The Swiss Crown USA business, which is based in Chicago, will relocate to its headquarters to the Cincinnati suburb of Fairfield. It will operate as a brand of Quality Gold.
Marks and Freberg will not remain with the company following the acquisition, but three key employees will, including Swiss Crown USA Brand Manager Jack Newton.
Freberg said they have “complete confidence” Quality Gold will uphold Swiss Crown USA’s reputation for service and quality.
“We’re incredibly grateful to the entire jewelry community that we’ve had the pleasure to work within,” he said.
“Over the years, we’ve developed relationships worldwide and learned so much from others with a passion for luxury watches and pre-owned Rolex timepieces.”
Financial terms of the deal were not disclosed. Quality Gold’s acquisition of Swiss Crown USA is expected to close by the end of January.
The company said in early February it plans to release a 44-page catalog featuring more than 180 Swiss Crown brand independently certified pre-owned Rolex watches.
The pending purchase of Swiss Crown USA is the latest in a line of acquisitions by Quality Gold, which bought jewelry wholesaler Herco last January and IBGoodman Manufacturing Co. in June 2022, among others.
In October 2022, the company announced it would go public via a merger with a special purpose acquisition company called Tastemaker Acquisition Corp.
It later canceled its IPO, citing market conditions.
More on Majors
The Latest
CrimeMay 02, 2024
4 Indicted in Burglary Ring Targeting Indian, South Asian FamiliesThe men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
CollectionsMay 02, 2024
Foundrae Launches ‘Horizon’ Collection“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
FinancialsMay 02, 2024
Pandora Raises Guidance After Strong Q1The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
Brought to you by
Rio’s Reimagined Podcast: For the Love of JewelersMeet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
IndependentsMay 02, 2024
Oklahoma Jeweler Glenn Lewis Dies at 68The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Weekly QuizMay 02, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
AuctionsMay 02, 2024
Vintage Baume & Mercier With Ties to Elvis Sells for $7K Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
SurveysMay 01, 2024
Consumer Confidence Falls in AprilConcerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
TrendsMay 01, 2024
Amanda’s Style File: All Eyes on EmeraldsMay’s birthstone is beloved for its rich green hue and its versatility.
SourcingMay 01, 2024
Opsydia Names New Sales and Marketing Director Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
CrimeMay 01, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
CollectionsApr 30, 2024
12 Otherworldly Pieces From Tiffany & Co.’s 2024 Blue BookThe “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
Events & AwardsApr 30, 2024
Canadian Jewellers Association Brings Back the Summit It’s the second year for the event, slated to take place in October in Toronto.
Recorded WebinarsApr 29, 2024
Watch: Diamond Identification and Evaluation - How to Protect your BusinessSupplier Spotlight Sponsored by GIA
SourcingApr 29, 2024
De Beers to Move Auction HQ from Singapore to BotswanaSales will be paused while the relocation takes place over the next few months.
CollectionsApr 29, 2024
Simone I. Smith Mixes Denim and Diamonds in New Collection“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
IndependentsApr 29, 2024
Venus Jewelers Relocating After 45 YearsThe retailer is moving to a newly designed space in the same shopping center.
SurveysApr 29, 2024
Mother’s Day Jewelry Spending to Reach $7B, Says NRFGifts that are unique and thoughtful are top of mind this year, according to the annual survey.
CollectionsApr 26, 2024
Piece of the Week: Jacquie Aiche’s Starry Galaxy NecklaceThe necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
Events & AwardsApr 26, 2024
AGS Conclave and GIA Symposium Are ConvergingThe two organizations will host a joint event, “Converge,” in September 2025.
SourcingApr 26, 2024
Anglo American Reportedly Shopping De Beers as BHP Eyes Anglo Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Events & AwardsApr 25, 2024
Alexis Padis Takes Over as AGS Board President Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
EditorsApr 25, 2024
5 Tips for Creating Fans from the Top (Savannah) Banana Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
WatchesApr 25, 2024
Audemars Piguet and John Mayer Partner on Limited Edition WatchThe Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
SourcingApr 25, 2024
De Beers Lowers Production Guidance for 2024The announcement came as the company reported a 23 percent drop in production in Q1.
MajorsApr 25, 2024
Detroit Lions’ QB Jared Goff Keeps Going to JaredThe three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
