Events & AwardsApr 18, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
MajorsSep 18, 2019
Charming Charlie Founder Plans To Relaunch Company
Charles Chanaratsopon placed the winning bid for the bankrupt retailer’s intellectual property.
Accessories retailer Charming Charlie’s New York City flagship on Fifth Avenue. The retailer filed for Chapter 11 bankruptcy in July, announcing plans to close all 261 locations.
Wilmington, Del.—Accessories chain Charming Charlie may be opening new stores as soon as next year after its founder placed the winning bid for its intellectual property earlier this month.
The assets sold for $1.12 million at auction to CJS Group LP, a Houston-based real estate firm where Charming Charlie’s founder and former CEO Charles Chanaratsopon is the managing partner.
Chanaratsopon told the Houston Chronicle he plans to relaunch the company following its Chapter 11 bankruptcy filing in July, which led to the closure of all 261 of its stores.
Charming Charlie would return as an online-focused retailer, said Chanaratsopon, with a few pop-up shops and permanent locations.
“Charlie has over 10 million passionate and brand-loyal customers,” he told the Chronicle. “In this age of retail, we still see an opportunity for the brand to thrive in the online ecosystem.”
The new stores are expected to open in early 2020 and will be 3,000 to 4,000 square feet, about half the size of its previous stores.
The assets up for sale were Charming Charlie’s trademarks and domain names, including those of brands Charlie Girl and Belle & Bumble, as well as its social media assets.
Customer data was also part of the deal, including a mailing list of 7 million email and 3 million physical addresses, according to data from Hilco Streambank, which assisted with the sale.
The company’s former CEO wasn’t the only one bidding for the brand’s intellectual property.
Nearly 500 interested parties reached out to Hilco Streambank via phone or email about the asset sale, but only five submitted bids ahead of the auction, according to a court statement by Hilco Executive Vice President David Peress.
Three bidders made the final cut for the auction, which lasted 35 rounds with bidding starting at $200,000.
The second-highest bid was $1.1 million from the Cato Corp., a North Carolina-based fashion and accessories retailer.
Peress said Hilco Streambank had tried to establish a “stalking horse” bid—which occurs when a bankrupt company chooses a bidder to make the first bid in order to set a minimum—but was unsuccessful in finding a bidder to do so.
Prolonging the sale process, he said, could have had a negative impact on the value of the assets.
He noted with the retailer’s stores and e-commerce site closed, customer engagement is decreasing, and shoppers soon will turn to other retailers to find what they used to buy from Charming Charlie.
“To reverse this trend, a buyer of
the assets will need to invest more in marketing and customer re-acquisition, thereby reducing the amount such buyer can pay for the assets,” Peress said.
The sale requires approval from the U.S. Bankruptcy Court for the District of Delaware.
The sale requires approval from the U.S. Bankruptcy Court for the District of Delaware.
More on Majors
The Latest
CollectionsApr 18, 2025
Piece of the Week: Dukachi’s ‘Easter Bread’ PendantThe Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.
IndependentsApr 18, 2025
Bremer Jewelry to Reveal Renovated StoreThe jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.
CollectionsApr 17, 2025
John Hardy, Athena Calderone Partner on Art Deco Decor-Inspired CollectionInterior designer Athena Calderone looked to decor from the 1920s and 1930s when crafting her first fine jewelry collection.
Weekly QuizApr 18, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsApr 17, 2025
Movado Group to Increase Prices to Offset Tariffs ImpactDuring a call about its full-year results, CEO Efraim Grinberg discussed how the company is approaching the uncertainty surrounding tariffs.
Lab-GrownApr 17, 2025
NDC Launches Its Diamond Learning CenterThe free program provides educational content for jewelry salespeople and enthusiasts to learn or refresh their diamond knowledge.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
Policies & IssuesApr 17, 2025
Jewelers of America Requests Tariffs Testimonials from MembersThe feedback will be used to prepare other jewelers for the challenges ahead, the organization said.
TechnologyApr 17, 2025
Technology Therapy Group Expands AI Training for Jewelry RetailersThe online sessions are designed to teach jewelers to use AI tools like ChatGPT and Claude to grow their business.
IndependentsApr 16, 2025
Catbird Expands to ChicagoThe opening marks the jewelry retailer’s first location in the Midwest.
CollectionsApr 16, 2025
Foundrae’s First Commitment Jewelry Collection Unites Through LoveThe “United in Love” collection offers tangible mementos of hearts entwined with traditional and non-traditional commitment heirlooms.
IndependentsApr 16, 2025
Indiana Jeweler to Host Black Jewelry Designer Pop-UpRobert Goodman Jewelers will hold a “Black Jewelry Designers and Makers” event on April 27.
EditorsApr 15, 2025
Tariffs: What We Know Right Now Editor-in-Chief Michelle Graff answers questions about how the new taxes levied on countries like India and China will impact the industry.
EditorsApr 15, 2025
Q&A: Bogolo Joy Kenewendo on Making Deals, Marketing DiamondsKenewendo, Botswana’s minster of minerals and energy, discusses closing the deal with De Beers and the work that was missed along the way.
AuctionsApr 15, 2025
23-Carat ‘Golconda Blue’ Heads to AuctionThe historic fancy vivid blue diamond set to headline Christie’s Geneva sale next month could sell for up to $50 million.
FinancialsApr 15, 2025
LVMH’s Q1 Sales Slip 2 PercentLVMH CFO Cécile Cabanis also discussed the effects of tariffs so far.
CrimeApr 15, 2025
Jon Hamm Plays a Jewel Thief on Apple TV+The “Mad Men” and “The Morning Show” star steals jewelry, art, and handbags from his wealthy neighbors in “Your Friends & Neighbors.”
SourcingApr 15, 2025
Diamond Club West Coast Names 2025 BoardThe organization has reelected Kalpesh Jhaveri as president.
FinancialsApr 14, 2025
Movado to Restate Years of Financials Due to ‘Misconduct’ in Dubai An investigation found that the former managing director of Movado’s Dubai branch overstated and prematurely recorded sales.
CollectionsApr 14, 2025
Sauer Embraces Emptiness Through ‘Ma’ CollectionThe collection pays tribute to the Japanese philosophy of Ma, studying balance, stillness, and the interplay between presence and absence.
IndependentsApr 14, 2025
Illinois Jeweler Closing After 45 YearsMari Lou’s Fine Jewelry in Orland Park, a suburb of Chicago, is closing its doors.
GradingApr 14, 2025
GIA Expands Overseas Services as Tariffs Kick InGIA’s labs in Dubai and Hong Kong are now accepting larger diamonds in light of the “logistical challenges” presented by the new tariffs.
AuctionsApr 11, 2025
Piece of the Week: A Replica of Princess Grace’s Wedding EarringsThese earrings by Van Cleef & Arpels, featuring the same design as a pair worn by Princess Grace, are up for auction at Woolley & Wallis.
Recorded WebinarsApr 11, 2025
Watch: Top Tips for Saving Time With AITwo experts share how artificial intelligence tools can help retailers run a more efficient business.
SourcingApr 11, 2025
Mikimoto Names New President, CEO for U.S. DivisionKentaro Nishimura, who has been with the pearl company since 1997, has been promoted to president and CEO of Mikimoto America.
WatchesApr 11, 2025
Bulova Documentary Now on Amazon Prime“America Telling Time: 150 Years of Bulova” explores the storied history of the American watchmaker.
