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MajorsJan 24, 2017
Samuel Aaron Inc. to Close Plant, Conduct Layoffs
The company is shutting down its factory in Mount Vernon, New York and laying off 42 employees after Richline Group’s recent acquisition of its parent company.
New York--On the heels of the announcement that Richline Group has acquired jewelry manufacturer and wholesaler The Aaron Group, one of its divisions has announced that it will close.
According to a notice sent to the New York state Department of Labor from Samuel Aaron Inc., the company will shut down its plant in Mount Vernon, New York and lay off 42 people as a result of the Richline Group’s recent acquisition of parent company The Aaron Group.
The filing noted that layoffs will happen during the two-week period starting April 12, and the factory will close later that month.
Samuel Aaron started as a manufacturer of colored gemstone jewelry, eventually expanding into mass-market bridal, diamond fashion and bridge jewelry, catering to mall jewelers, department stores, television shopping channels and more.
When asked about the future of other companies under The Aaron Group, Richline Chief Marketing Officer Mark Hanna said that they still are in the process of assimilation, noting that the company “will be working on an integration plan over the next 90 days of employees and facilities.” No other details were released.
The Aaron Group did not respond to a request for comment by deadline.
The Aaron Group, which started in 1950 as Samuel Aaron Jewelry, has grown into a vertically integrated international jewelry manufacturer and wholesaler that remains a true family business to this day, led by third-generation executive Robert Kempler.
The company has operations, factories, partnerships and employees in New York, London, Mumbai, Hong Kong and Guangzhou, China.
In addition to Samuel Aaron, other divisions in The Aaron Group are, according to its website, Robert A. Baum Corp, a diamond and colored stone men’s jewelry manufacturer; Diamond Dimensions Ltd., its international jewelry distribution division; Armadani, a private label fine jewelry manufacturer of anniversary and eternity bands, engagement rings and fine fashion jewelry; Rene Bargueiras Inc., which makes religious and urban fashion jewelry; and SAI India, which sources, cuts and matches diamonds for items in production and for loose diamond transactions.
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