GradingAug 22, 2025
Former Head of GIA India Promoted to Oversee Global Operations Sriram “Ram” Natarajan is now GIA’s senior vice president of laboratory operations and is based out of the lab’s headquarters in Carlsbad.
OtherFeb 17, 2015
Frederick Goldman has luxurious plans for Scott Kay
With the brand now under its belt, executives at Frederick Goldman Inc. are planning to propel the business’s bridal and fashion lines into a more high-end arena and access an expanded base of consumers.
Scott Kay and his daughter Tiffany work alongside each other at the Scott Kay Inc. offices in Teaneck, N.J. Kay died unexpectedly in December and his brand was purchased by Frederick Goldman Inc.
New York--With the Scott Kay brand now under its belt, executives at Frederick Goldman Inc. are planning to propel the business’s bridal and fashion lines into a more high-end arena and access an expanded base of consumers.
“I don’t think I could describe it by a price point, but we’re going to be in the luxury piece of that space,” Jonathan Goldman, chairman and CEO at Frederick Goldman, told National Jeweler. “I think what we’ll do is look at the average selling price they’re at today, and I think we will be increasing that price point a bit.”
Goldman said that future plans also include possibly expanding Scott Kay offerings to include accessories in addition to jewelry, although he couldn’t relay what specific accessories since they’re “still in the process of creating that road map.” If and when Frederick Goldman decides to start selling Scott Kay-branded accessories, they won’t be alone in that space. Tiffany & Co. has been selling purses for several years, and Le Vian just introduced a line of scarves, handbags, wallets and shoes at the Vicenzaoro show in Italy.
When asked if Frederick Goldman was able acquire Scott Kay Inc. for a good price, Goldman said the company wouldn’t be disclosing the purchase price but noted that, “Scott did a terrific job of building brand equity.”
The announcement of Frederick Goldman’s purchase of Scott Kay came nearly two months to the day after the designer died of a heart attack. The brand’s design, sales and marketing will continue to operate as a separate identity, with Adam Gurian, executive vice president of global sales and merchandising at Frederick Goldman, assuming the role of general manager for Scott Kay on an interim basis, “as we search for an experienced leader from the luxury goods business,” Goldman said. Scott Kay Inc.’s current CEO David Minster will be leaving the company.
Kay’s daughter, Tiffany Kay, will remain vice president of merchandising. She appeared on QVC on Feb. 1, Super Bowl Sunday, the brand’s first appearance on the home shopping network, where it is selling necklaces, bracelets, earrings and rings made in sterling silver and set with gemstones and Diamonique, the brand name QVC uses for cubic zirconia.
“(The QVC launch) went wonderfully for us,” Kay told National Jeweler. “During the first on-air presentations, eight items were posted as sellouts. Since our brand launched on the network,
I believe it was more than 10,800 units that were ordered.”
The initial QVC line ranges in prices from approximately $85 to $500, Kay said, adding that the current plan is to only sell sterling silver and fashion pieces on the network.
“We want to heighten brand awareness,” she said of the debut. “It’s going to bring this halo effect to the brand in the consumers’ mind.”
For Frederick Goldman, the purchase of Scott Kay--an opportunity afforded by the unfortunate and untimely death of the brand’s namesake--also is about brand awareness.
Howard Feller, a partner at MMG Advisors, an investment bank that specializes in retail- and fashion-related mergers and acquisitions, said Frederick Goldman’s purchase of the company provides it with a well-respected brand that has strong consumer awareness in bridal and fashion jewelry.
“At a time when jewelry wholesalers are under pressure to offer distinctive products to retailers that allow both the retailer and wholesaler to maintain healthy gross profit margins, the larger suppliers in the industry are very much focused on acquiring, licensing or building strong brands that can achieve those objectives,” he said.
“Scott Kay provides Frederick Goldman with an expanded base of customers to which it can also offer its existing product lines, and it gives Frederick Goldman a higher price point collection in bridal jewelry that it can offer to the Frederick Goldman customer base.”
Goldman echoed this sentiment.
“We do have several brands under our belt, but we didn’t have a brand in the luxury space, so this fits perfectly in our strategic plan to acquire something in that space,” the CEO said. “Quite frankly, there aren’t a lot of companies recognized by the consumer in that space in the jewelry business, so this is a unique opportunity for us, and an exciting one.”
More on Other
The Latest
CollectionsAug 22, 2025
Piece of the Week: Retrouvaí’s ‘Diamond Vein Bond’ CollarThe one-of-a-kind collar represents the beauty of imperfection and the strength to rebuild.
MajorsAug 22, 2025
Kendra Scott Returns as CEO of Her Jewelry EmpireThree C-suite executives, including former CEO Tom Nolan, have resigned as part of what the company describes as a “transition.”
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
MajorsAug 21, 2025
Claire’s Finds Buyer, Could Save up to 950 StoresThe retailer, which recently filed Chapter 11, inked a deal to sell its North American business and intellectual property.
Weekly QuizAug 22, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsAug 21, 2025
Target Names New CEO as Sales Continue to Lag Target CEO Brian Cornell will step down in February and be replaced by the company’s chief operating officer, Michael Fiddelke.
Policies & IssuesAug 21, 2025
JA, IDMA Talk Tariffs With Execs in DC The group met with the president's senior trade advisor earlier this week to express the industry’s concerns about the effects of tariffs.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
MajorsAug 21, 2025
Tiffany & Co. Pops Up at 2025 US OpenThe pop-up will display this year's Tiffany & Co. Singles Championship trophies along with a diamond-encrusted tennis racket and ball.
IndependentsAug 20, 2025
Bellman’s Jewelers Opens Second Store After COO's TikTok Takes OffThe New Hampshire-based store has expanded to Boston, propelled by the success of Alex Bellman’s TikTok page, “The Truthful Jeweler.”
CrimeAug 20, 2025
Another CA Jewelry Store Rammed With Car, RobbedThe latest incident happened Monday at a store in Oakland, California, continuing a pattern JSA first warned about last month.
WatchesAug 20, 2025
Oris Launches Watch Benefiting NYC Harbor Oyster RestorationThe new aqua green New York Harbor Limited Edition II is the watchmaker’s second collaboration with the Billion Oyster Project.
Events & AwardsAug 20, 2025
Take the Jewelers for Children ‘Trinity of Purpose’ ChallengeParticipants who attend any three Rings of Strength events will be awarded a special medal.
SourcingAug 19, 2025
Dubai’s Jemora Group Buys Diamond Miner LucapaThe investment company, founded by Dev Shetty, has acquired the struggling miner and its assets, including the Lulo mine in Angola.
ColumnistsAug 19, 2025
Peter Smith: The Arrival Fallacy and Jewelry RetailSmith shares wisdom he gleaned from a podcast he was listening to one morning while being walked by his dog, a Malshi named Sophie.
CrimeAug 19, 2025
Customs Seizes 7,300 Pairs of Fake ‘Alhambra’ EarringsThe counterfeit Van Cleef & Arpels jewels would have been worth more than $30 million if genuine.
MajorsAug 19, 2025
MJSA Apprenticeship Program Is Nationally RecognizedThe MJSA Mentor & Apprenticeship Program received the Registered Apprenticeship Program designation by the U.S. Department of Labor.
WatchesAug 19, 2025
Casio America Names New Timepiece Division ManagerCasio executive and watch enthusiast Masaki Obu is the new general manager of its U.S. timepiece division.
MajorsAug 18, 2025
Verragio’s Michael Barabash, a ‘Kind Soul,’ Dies at 58Barabash, Verragio’s client relations representative, was a vital member of the team and is remembered as being warm and full of life.
CollectionsAug 18, 2025
John Hardy’s New ‘Dot’ Collection Is on PointOriginally introduced in 1992, the “Dot” collection is back with a capsule featuring five archival designs and three new creations.
Events & AwardsAug 18, 2025
IJO Announces 2025 Vendor of the YearAllison-Kaufman has received the honor for the fourth year in a row.
FinancialsAug 15, 2025
In Q2 Results, Pandora Talks Tariffs, Q4 Plans The company had a solid second quarter, with sales of non-charm jewelry outpacing sales of pieces in its core collections.
EditorsAug 15, 2025
Piece of the Week: Etho Maria’s Showgirl-Approved Ruby Drop Earrings Taylor Swift dons the vibrant pair in new promotional imagery for her upcoming album, “The Life of a Showgirl,” set to release in October.
WatchesAug 15, 2025
Audemars Piguet Acquires Majority Stake in ManufacturerIts investment in micromechanics expert Inhotec will preserve skills essential to the watchmaking industry as a whole, said the company.
MajorsAug 15, 2025
Rio Grande Names New Marketing DirectorNicolette Bianchi joins the wholesale provider with more than 15 years of cross-industry experience in marketing and product development.
CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.
MajorsAug 14, 2025
Casio America Names New CEOLongtime Casio executive Yusuke Suzuki is the new president and CEO of Casio’s U.S. subsidiary.
