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.
More on Majors
The Latest
SourcingOct 23, 2026
Rachel Chalchinsky’s ‘Survivor Tribute’ RingThe ring, our Piece of the Week, was designed by eight-year breast cancer survivor Rachel Chalchinsky of Color Source Gems.
TechnologyOct 23, 2026
JA Unveils New Website, LogoThe website offers enhanced member benefit access, industry directories, educational resources, a job board, and access to the MJSA Journal.
FinancialsOct 23, 2026
Kering’s Jewelry Sales Up Double Digits in Q3Boucheron and Pomellato had a strong third quarter, with Kering looking at jewelry as an increasingly important part of its portfolio.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
CrimeOct 22, 2026
Jeweler Shot and Killed in His Suburban Cincinnati Store Tara Sinchuri was the owner of Everest Jewels in Fairfield, Ohio, and a father of three. He was found dead in his store on Tuesday.
Weekly QuizOct 22, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsOct 22, 2026
JIS Fall 2026 Reports Record-Breaking Attendance The number of participants at the fall show was up 12 percent.
CollectionsOct 22, 2026
Billie Eilish, Finneas Co-Design Collection for John HardyThe Academy and Grammy award-winning siblings have collaborated with John Hardy on a new jewelry line inspired by their personal style.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
PodcastsOct 21, 2026
Episode 10: This Episode Is Haunted Diana Singer shared the stories of two “cursed” diamonds on this month’s podcast, which was inexplicably riddled with technical issues.
IndependentsOct 21, 2026
Gardner-Collier Jewelry to Close After 9 Decades in BusinessThe family-owned jeweler has three locations across Missouri and Iowa.
SourcingOct 21, 2026
Venetia Mines Final Carats Ahead of 2-Year ShutdownThe De Beers-owned diamond mine in South Africa is being put on ice as part of a round of previously announced cost-cutting measures.
CollectionsOct 21, 2026
Helzberg, Nordstrom Carrying New Jewelry Collection From Off-WhiteThe collection centers designs with clean geometric lines, chunky sculptural pieces, and recognizable details from the luxury fashion brand.
SourcingOct 21, 2026
Gemfields’ Mixed-Quality Ruby Auction Earns $52MThe miner said it saw particularly strong prices for larger, fine-quality rubies at the sale.
CrimeOct 20, 2026
Security Guard Charged With Murder in Shooting at Texas MallThe guard opened fire on a man who was smashing a jewelry display case at La Gran Plaza in Fort Worth last week, police said.
IndependentsOct 20, 2026
David Gardner’s Jewelers Unveils Newly Expanded, Revamped ShowroomThe Texas jeweler added 2,000 square feet to its reimagined showroom, complete with a new design studio and an event space.
SourcingOct 20, 2026
The $50M Victoria’s Secret ‘Fantasy Bra’ By The NumbersJacob & Co.'s diamond masterpiece is the most expensive Fantasy Bra ever worn on the Victoria’s Secret Fashion Show runway.
CollectionsOct 20, 2026
Mignon Faget’s Collection Chooses Handmade Over AIThe “Atelier” collection was inspired by the tools, rituals, and objects in an artist’s studio as a quiet rebuttal to an automated world.
MajorsOct 19, 2026
The Knot to Acquire Rival Wedding Planning Platform ZolaThe pending acquisition is an “exciting opportunity” for wedding vendors to grow their business, said The Knot Worldwide’s CEO.
SourcingOct 19, 2026
Jewelry Design Competition Show Airs in Thailand"The Secret Gems" features eight Thai jewelry brands paired with a team of young craftspeople who create jewelry together to win challenges.
CollectionsOct 19, 2026
John Hardy Enters the Medallion Chat With Talisman Collection The brand’s “Modern Talisman” capsule collection introduces pendants inspired by the mythology, natural world, and spiritual ethos of Bali.
IndependentsOct 19, 2026
The Stories of 5 Jewelers Celebrating Their Centennials in 2026Independent jewelers from New Mexico to New Jersey answer the question: What has kept your store in business for 100 years?
SurveysOct 16, 2026
How Inflation, Gas Prices Will Affect Holiday Sales The NRF is expecting holiday sales to increase this year, but consumers and retailers alike are facing Grinch-like headwinds.
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
ColumnistsOct 15, 2026
Peter Smith: What Is the Culture REP?It’s a term Smith coined and felt compelled to share following a bad experience with an aborted flight and an unfeeling flight attendant.
