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
FinancialsNov 26, 2025
Movado CEO Talks Tariffs, Growing Interest in Accessible Luxury WatchesDuring its Q3 call, CEO Efraim Grinberg discussed the deal to lower tariffs on Swiss-made watches, watch market trends, and more.
TrendsNov 26, 2025
Piece of the Week: Rosior’s Pumpkin RingRosior’s high jewelry cocktail ring with orange sapphires and green diamonds is the perfect Thanksgiving accessory.
IndependentsNov 26, 2025
Greenwich St. Jewelers Launches Colorful Holiday CampaignThe “Embrace Your True Colors” campaign features jewels with a vibrant color palette and poetry by Grammy-nominated artist Aja Monet.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
Events & AwardsNov 26, 2025
Grandview Klein Presents 4 Scholarships in NamibiaThe company gave awards to four students at the Namibia University of Science & Technology, including one who is a Grandview Klein employee.
Weekly QuizNov 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsNov 25, 2025
Pearl Stringer Margaret Hoisik DiesShe is remembered as an artist who loved her craft and was devoted to her faith, her friends, and her family.
SourcingNov 25, 2025
Finestar Opens Diamond Manufacturing Facility in JohannesburgIt joins the company’s other manufacturing facilities globally, including in India, Botswana, and Namibia.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
TrendsNov 25, 2025
Amanda’s Style File: Polka DotsThe polka dot pattern transcends time and has re-emerged as a trend in jewelry through round-shaped gemstones.
CrimeNov 25, 2025
Former Arizona AG Official Charged With Trafficking Stolen JewelryVanessa Hickman, 49, allegedly sold a diamond bracelet that was mistakenly sent to her home.
Events & AwardsNov 25, 2025
GIA Awards Susan Jacques With Its Highest HonorGIA’s former president and CEO was presented with the Richard T. Liddicoat Award for Distinguished Achievement.
Recorded WebinarsNov 24, 2025
Watch: Top Tips for Social Media EtiquetteSocial media experts spoke about protecting brand reputation through behaving mindfully online.
WatchesNov 24, 2025
Breitling Reveals Plans for Gallet, Universal GenèveIn 2026, the three will come together as “House of Brands,” with Gallet sold in Breitling stores and Universal Genève sold separately.
CollectionsNov 24, 2025
Muse Debuts a Wicked 'Have a Heart x Cynthia Erivo' SequelThe second drop, which includes more Elphaba-inspired pieces from additional designers, will continue to benefit nonprofit Dreams of Hope.
IndependentsNov 24, 2025
J.R. Dunn Jewelers Names New PresidentSecond-generation jeweler Sean Dunn has taken on the role.
SourcingNov 21, 2025
De Beers’ Branded, Traceable Diamonds Roll Out to 19 Retailers Called “Origin by De Beers Group,” the loose, polished diamonds are being sold in a total of 30 stores in the United States and Canada.
CollectionsNov 21, 2025
Piece of the Week: Melissa Kaye’s ‘Rocky Infinity’ NecklaceThe lariat necklace features a 4.88-carat oval-cut Zambian emerald in 18-karat yellow gold.
AuctionsNov 20, 2025
Vanderbilt Jewels Shine at Phillips Sale, Pink Diamond WithdrawnA 43-carat sapphire brooch from the Vanderbilt collection was the top lot of the Geneva sale.
CollectionsNov 20, 2025
Rebecca Rau Jewels Debuts With ‘Then & Now’ CollectionRau is a fourth-generation art and antique dealer from M.S. Rau gallery whose first jewelry collection merges artifacts with modern design.
Policies & IssuesNov 20, 2025
RJC Names New Executive DirectorFormer De Beers sustainability leader Purvi Shah will take over the role in February 2026.
WatchesNov 20, 2025
LVMH Takes Minority Stake in Citizen Group-Owned Movement Maker La Joux-Perret is based in La Chaux-de-Fonds, Switzerland, and makes solar quartz as well as mechanical watch movements.
GradingNov 20, 2025
Julia Griffith Joins SSEF as Head of EducationShe previously taught at Gem-A and is the founder of The Gem Academy.
CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter CampaignThe British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.
TechnologyNov 19, 2025
Google Has a New Form for Reporting ‘Review Bombing’ Attacks Plus, the tech giant shares the steps retailers should take if they believe they’re a victim of a review extortion scam.
IndependentsNov 19, 2025
Houston Jeweler Keith Shaftel Retires, Next Generation Steps In Danny and Gaby Shaftel are now Shaftel Diamonds’ CEO and chief operating officer, respectively.
TrendsNov 19, 2025
Midas Chain Releases 2025 Holiday Style GuideThe jewelry manufacturer’s seasonal offering features its new “Melodie” bangles, as well as mini stud earrings and layering pieces.
Events & AwardsNov 18, 2025
NYC Jewelry Week 2025: 12 Must-See EventsWith more than 140 activations taking place in New York City now through Nov. 23, these 12 events are can’t-miss moments.
