MajorsApr 19, 2024
Unique Designs Acquires China PearlMajorsJul 03, 2024
Ostbye & Anderson Acquires Fellow Midwest Manufacturer
The Minneapolis-based company bought Victor Corporation, which has been making jewelry in Cincinnati since 1946.
Victor Corporation President John Youkilis, left, is retiring and selling the family business to Minneapolis-based Ostbye & Anderson, headed by Craig MacBean.
Minneapolis—Two Midwest-based fine jewelry manufacturers focused on the independents are coming together.
On Monday, Ostbye & Anderson Inc. announced it has acquired the Victor Corporation, a Cincinnati-based diamond jewelry manufacturer that’s been in business for nearly eight decades.
Financial terms of the deal were not disclosed.
Ostbye said it will be retaining all Victor Corporation’s territory managers and some of its employees, who will work remotely.
Victor’s Cincinnati headquarters will close, and it will operate as a division of Ostbye based in Minneapolis and led by Tom Schlotman, Victor Corporation’s senior vice president.
As a division of Ostbye, Victor Corporation will continue to manufacture its best-selling collections—“Heirloom Elegance Bridal,” “Fabulous Fireflies,” and “Stackables Bands” —as well as several of its other designs.
The company’s president, John Youkilis, whose father Victor Youkilis started Victor Corporation in 1946, is retiring.
Commenting on the acquisition, he said, “Craig [MacBean, Ostbye president] and I became good friends over the years by serving together on industry boards and it was clear our companies shared the same values and passion for supporting the independent jeweler.
“It’s been an honor for Victor to serve the independent jeweler for the past 78 years. I am incredibly grateful for those who trusted us to be their partner and will forever be thankful to the many Victor employees who made us who are today.”
Related stories will be right here …
On Monday, Ostbye & Anderson Inc. announced it has acquired the Victor Corporation, a Cincinnati-based diamond jewelry manufacturer that’s been in business for nearly eight decades.
Financial terms of the deal were not disclosed.
Ostbye said it will be retaining all Victor Corporation’s territory managers and some of its employees, who will work remotely.
Victor’s Cincinnati headquarters will close, and it will operate as a division of Ostbye based in Minneapolis and led by Tom Schlotman, Victor Corporation’s senior vice president.
As a division of Ostbye, Victor Corporation will continue to manufacture its best-selling collections—“Heirloom Elegance Bridal,” “Fabulous Fireflies,” and “Stackables Bands” —as well as several of its other designs.
The company’s president, John Youkilis, whose father Victor Youkilis started Victor Corporation in 1946, is retiring.
Commenting on the acquisition, he said, “Craig [MacBean, Ostbye president] and I became good friends over the years by serving together on industry boards and it was clear our companies shared the same values and passion for supporting the independent jeweler.
“It’s been an honor for Victor to serve the independent jeweler for the past 78 years. I am incredibly grateful for those who trusted us to be their partner and will forever be thankful to the many Victor employees who made us who are today.”
Ostbye said the acquisition is a “significant milestone” in its mission to continue serving independent jewelers.
“I have always admired John Youkilis and the Victor Corporation. For Ostbye to be trusted to carry on their legacy is something I am very proud of,” MacBean said.
“For two U.S.A. companies with [a combined] 182 years of serving the independent jeweler to come together is incredible and another example of what makes our industry so special. The combination of these two comprehensive product lines, quality sales teams, and extensive service offerings with best-in-class technology gives the independent jeweler more support than ever before.”
Ostbye was founded in 1920, and MacBean is the fourth generation of the family to lead the company.
Its collections include bridal jewelry, anniversary bands, women’s diamond fashion jewelry, men’s jewelry, colored gemstone jewelry, and the “Marriage Symbol” collection, as well as its “Thru the Store” marketing programs.
The company has been selected as buying group RJO’s “Vendor of the Year” 12 times, as IJO’s “Supplier of the Year,” and ranked fifth on Instore’s 2023 list of best-performing brands, which is based on the magazine’s Big Survey.
Editors' Picks
Sponsored by
More on Majors
The Latest
TrendsJul 31, 2026
These Pieces of the Week Are Sweet Edina Kiss’ “Popsicle” pendant and Karina Choudhrie’s “Ice Cream” charm satisfy that summer craving for a sweet piece of jewelry.
SourcingJul 31, 2026
Gemfields’ H1 Revenue Jumps 72%The miner’s ruby and emerald auctions brought in a combined $102.9 million.
SourcingJul 30, 2026
De Beers Sale in ‘Final, Most Challenging’ Phase, Anglo CEO SaysThe goal is for the De Beers sale to be finished by the second half of 2026, with the subsequent approvals process expected to take a year.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Policies & IssuesJul 30, 2026
JA Heads Back to Washington as New Wave of Tariffs Takes Effect David Bonaparte, along with Tim Haake and Ronnie VanderLinden, continue to lobby for tariff exemptions for diamonds, gemstones, and pearls.
Weekly QuizJul 30, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysJul 30, 2026
Consumer Confidence Slips in JulySurvey respondents were concerned about the rising prices of food and groceries as well as unemployment.
Events & AwardsJul 30, 2026
Vicenzaoro Releases 2026 Education LineupThe trade show, slated for Sept. 4-8 in Vicenza, Italy, will feature sessions on trends, AI, gemology, and manufacturing.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
Events & AwardsJul 30, 2026
Hillsborough Show Moves to New Location for 2026The public shopping event featuring art, jewelry, watches, and rare collectibles, will take place in Santa Clara, California, this fall.
EditorsJul 29, 2026
Q&A: The Past and Future of Angola’s Diamond Industry Endiama Commercial Director Elton Escrivão knows people have a lot of misperceptions about Angola. He wants to change that.
FinancialsJul 29, 2026
Kering’s H1 Jewelry Sales Up 14%Boucheron reached record sales while Pomellato found success in its signature collections.
Events & AwardsJul 29, 2026
Lauren Harwell Godfrey Designs a Flag for ArkansasShe was one of more than 120 American designers who created flags for the “United Flags of Fashion” project led by CFDA and Vogue.
ColumnistsJul 28, 2026
Peter Smith: Why Your Job Postings May Be Working Against You Smith reveals the method The Retail Smiths use to help retailers and vendors write better job postings.
FinancialsJul 28, 2026
Tiffany & Co., Bulgari Lead the Way for LVMH in H1LVMH’s jewelry and watch brands outperformed the company’s other divisions in an environment the company described as “disrupted.”
CollectionsJul 28, 2026
Lionheart’s New Collection Unites Spiritual Iconography“Sacred Heart” features symbols like crosses, angel wings, the Star of David, and the evil eye as a representation of coexistence.
Events & AwardsJul 28, 2026
The Edge Funding 2 Scholarships Via 24 Karat Club SEUS The scholarships will go to early-career professionals looking to study gemology, bench work and jewelry design, or store operations.
SurveysJul 27, 2026
Jewelry Leads Luxury Market Amid Stabilization, Bain SaysBain & Company delved into the trends shaping the luxury market, the impact of AI, and more in its recent study.
SourcingJul 27, 2026
‘Rubies’ Goes on Display at Harvard MuseumThe exhibition reveals the gemology, geology, and cultural history of the iconic red gemstone.
Policies & IssuesJul 24, 2026
New Trump Tariffs: What They Mean for Jewelry The new sweeping slate of tariffs impacts 60 countries, including India, China, Thailand, Hong Kong, and the United Arab Emirates.
TrendsJul 24, 2026
Amanda’s Style File: Ode to ‘The Odyssey’From coin pendants to diamond shields, these old world-inspired jewels are the perfect accessory for an epic journey.
TrendsJul 24, 2026
Courtney Leidy’s Silk Cord Pendants Center Unexpected Pairings Our Piece of the Week pairs a checkerboard-cut amethyst with an ivy green silk cord.
PodcastsJul 23, 2026
Episode 7: Reinhold Jewelers on the Power of RelationshipsMildred Marcano Abrams and Yael Reinhold join the podcast to talk community connections, holiday plans, and preserving Reinhold’s legacy.
SourcingJul 23, 2026
De Beers’ Production Jumps 88 Percent in Q2 Production also was up in the first half of 2026 but is expected to “substantially” decrease in H2 as two key mines undergo maintenance.
CollectionsJul 23, 2026
Silvia Furmanovich’s New Collection Travels Back to the 1920s“Art Deco” fuses ancestral techniques, rare materials, and modern perspectives as a tribute to the optimism and curiosity of the movement.
IndependentsJul 23, 2026
Sissy's Log Cabin Opens Casino StoreThe jeweler’s newest store is inside Arkansas’ Saracen Casino Resort.
WatchesJul 23, 2026
Movado Inks Licensing Deal With Kate Spade New YorkThe watch company will design, manufacture, and distribute Kate Spade New York watches.
Policies & IssuesJul 22, 2026
Trump to Put 50% Tariff on Canadian Goods The higher tax is set to go into effect in August and will apply to loose polished diamonds as well as precious and base metals jewelry.
