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
SourcingJul 15, 2026
1,305-Carat Diamond Recovered from Mine in BotswanaThe yet-to-be named stone is the 10th diamond weighing more than 1,000 carats to come out of Lucara’s Karowe mine.
IndependentsJul 15, 2026
New Jersey Jeweler Barry Berman Dies at 81The founder of Fords Jewelers, Berman is remembered for his love of connecting with his community.
FinancialsJul 15, 2026
Watches of Switzerland’s US Sales Jump 18%, Declines to Comment on Sale Report The watch and jewelry retailer had a strong fiscal year despite what its CEO described as a “complex operating backdrop.”
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 15, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
Weekly QuizJul 09, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 15, 2026
Pomellato’s New High Jewelry Is LiberatingBold color, expressive gem-setting, and sculptural form define the three chapters that make up “Stile Libero.”
IndependentsJul 14, 2026
Foundrae Opens First Standalone Store Outside USThe New York-based jewelry brand has expanded overseas, opening a store in London’s Mayfair district.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
ColumnistsJul 14, 2026
Sherry Smith: What Today’s Jewelry Consumer Is Telling Us Rising revenue does not automatically mean a healthy business, particularly in the current economic landscape, Smith writes.
TrendsJul 14, 2026
Amanda’s Style File: Shoulder Dusters These long, fluid drop earrings are sure to catch the eye.
CrimeJul 14, 2026
Man Charged in $1M Jewelry Store Heist Lands on FBI Most Wanted ListAlberto Perez-Elias is one of four men charged with robbing a Cape Coral, Florida, jewelry store and is the only one still at large.
Events & AwardsJul 14, 2026
Conference on Mining, Sustainability Kicks Off in NYCInitiatives in Art and Culture is hosting its 16th annual Gold and Diamond Conference, with the theme of “Resilience.”
Lab-GrownJul 13, 2026
Stephanie Gottlieb Changes Her Mind on Lab-Grown DiamondsThe designer, who once said she’d never sell lab-grown diamonds, debuted two capsule collections designed to be fun and easy to wear.
SourcingJul 13, 2026
De Beers Announces Potential Layoffs, 2-Year Production Pause at VenetiaThe diamond miner and marketer is undergoing another round of cost-cutting measures ahead of its sale by Anglo American.
Events & AwardsJul 13, 2026
Registration Opens for JIS Fall 2026 ShowThe annual trade-only buying event is slated for Oct. 16-19 in Miami Beach, Florida.
Events & AwardsJul 13, 2026
AGTA Accepting Entries for Spectrum 2026AGTA also has announced the lineup of judges for the colored gemstone cutting and jewelry design contest’s various categories.
TechnologyJul 10, 2026
There’s a New Blind Box for Luxury Watches Collectibles platform Arena Club’s new Time Boxes could contain a Rolex or Patek Philippe watch.
TrendsJul 10, 2026
Jade Trau Creates a Constellation of DiamondsThe “Constellation Plié” collar, our Piece of the Week, features diamonds arranged in a constellation of shining stars.
SourcingJul 10, 2026
CFO of De Beers’ Consumer-Facing Division Leaves Company Shaun Wills joined the company in 2024 and was chief financial officer of the De Beers Brands and Consumer Markets division.
WatchesJul 10, 2026
Brilliant Earth Expands Into WatchesIn honor of its 20th anniversary, the jewelry brand has released a limited-edition collection of Swiss-made timepieces.
CollectionsJul 09, 2026
Boucheron’s New High Jewelry Collection Is an Ode to the Human Touch“Human Being” highlights the similarities and differences between us through five sets of jewelry that celebrate fine craftsmanship.
WatchesJul 09, 2026
Damiani Group Finalizes Acquisition of Baume & MercierRichemont will continue to provide operational services for the watch brand for a period while the group prepares to integrate it.
AuctionsJul 09, 2026
Pharrell Williams’ Joopiter Hires Former Bonhams Exec to Head New Watch DivisionNate Borgelt will lead the digital auction house and content platform’s new division as head of watches.
Events & AwardsJul 09, 2026
Halstead Names 2026 Grant WinnerEnoch Platero, founder and designer behind Enoch Michael, is the first Native American jeweler to win the award.
Events & AwardsJul 09, 2026
AGS, GIA Name 2026 Beatrice Shipley Scholarship WinnerAGS also announced the recipient of its “Women in Leadership” scholarship.
SurveysJul 08, 2026
Signet Jewelers Falls 5 Spots on NRF’s ‘Top 100’ Retailers ListPlus, why retailers should be ready to adjust as the U.S. population may decline this year for the first time since the Great Depression.
CrimeJul 08, 2026
Here’s What Thieves Stole From the Lalique Museum René Lalique’s “Woman Dragonfly With Open Wings” pendant, the first piece the museum acquired, was one of the jewels taken.
