Raised in an orphanage, Bailey was 18 when she met her husband, Clyde. They opened their North Carolina jewelry store in 1948.
Frederick Goldman Inks Licensing Agreement with Lagerfeld
The jewelry manufacturer will produce Karl Lagerfeld-branded fine jewelry that will be sold in four countries, including the United States.

Paris--Jewelry manufacturer Frederick Goldman Inc. has signed a licensing agreement with Karl Lagerfeld to produce fine jewelry branded by the fashion house.
Frederick Goldman said the team at the Karl Lagerfeld headquarters in Paris will finalize all the design concepts, which then will be hand-drawn by the team at the Frederick Goldman Luxury Group in New York and manufactured at its facility in Panyu, China. The FGLG is a new branch of Frederick Goldman Inc. and will manage the Lagerfeld licensing agreement as well as the Scott Kay brand.
Known for his signature white hair and black glasses, the German-born, Paris-based Lagerfeld, 82, is the designer and creative director for both Chanel and Fendi as well as his own label.
Frederick Goldman said no further details on the Lagerfeld collection, including price points, or photographs are being released ahead of the JCK Luxury show, where it will introduce the first Karl Lagerfeld-branded bridal designs.
There are no plans for Lagerfeld himself to be at the show.
JCK Luxury is by invitation-only May 31 through June 2. It opens to the general trade on June 3.
Frederick Goldman joins a number of other manufacturers and online retailers who have tapped fashion brands or designers to create collections for them, such as Blue Nile’s collaborations with Monique Lhuillier and Zac Posen, and Prestige Jewelry International launching a bridal line under the Marchesa name.
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