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MajorsMay 02, 2017
Quality Gold Acquires Giftware and Jewelry Company
Luxury Giftware by Jere will move its operations from Georgia to Ohio and founder Jere Wright will stay on board.
Fairfield, Ohio--Quality Gold announced Monday that it has purchased Luxury Giftware by Jere LLC, a wholesaler specializing in fine giftware, jewelry and collectibles.
Marietta, Georgia-based Luxury Giftware by Jere is known for its heirloom-quality jewelry boxes, assortment of bejeweled trinket boxes and Damascus steel blade knives.
Terms of the deal were not disclosed, but Quality Gold said that the two companies had a business relationship for some time before founder Jere Wright approached them about selling his company.
Quality Gold will operate and market Luxury Giftware by Jere as its own brand.
Commenting on the acquisition in a company news release, Quality Gold CEO Michael Langhammer said: “Jere has a loyal retailer base that benefits from his assortment of high-quality giftware. I have a tremendous amount of respect for the business Jere has built. He has kept current with trends in the gift industry and he has adjusted his line to meet the needs of his customers. He listens to his customers and develops product they want to display in their stores.”
The company will begin invoicing and shipping all Luxury Giftware by Jere merchandise from its Fairfield, Ohio, headquarters on May 10.
In the meantime, from May 2 to 9, business operations and on-hand inventory will be transferred from Georgia to Ohio (manufacturing is not done in the United States), and no orders will ship during that time. Any orders placed during the period time will be fulfilled and invoiced starting on May 10.
Wright will join Quality Gold, where he will continue in a sales and product development role.
A Quality Gold spokesperson said that Wright will decide whether he wants to stay in Georgia or move to Ohio but added that regardless of his location, he will be in regular communications with corporate staff located in suburban Cincinnati.
Wright will continue to attend trade shows to develop relationships with retailers, but now will located be in the Quality Gold booth. His first show with the company will be JCK Las Vegas, which runs from June 5 to 8.
He also will be a part of the transition team leading the company in its expansion and introduction of designs for Luxury Giftware through 2020.
Quality Gold did not provide information when asked if they will be retaining the employees of Luxury Giftware by Jere.
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