Swarovski to Invest in US Jewelry Retailer

Published: June 7, 2011; 13:57 · (Vindobona)

The Tyrolean optics and crystal group is attracted by a global distribution network of 2,000 stores. The two companies already have a strategic partnership.

Swarovski to Invest in US Jewelry Retailer / Picture: © Swarovski AG

The jewelry retailer Chamilia, headquartered in Minneapolis, is a family enterprise that was founded eleven years ago. Kilian Rieder, once designer for Polo, and his partner Jeff Julkowski as the company’s chairman offer fine jewelry in more than 2,000 stores worldwide. The Austrian and the American company already maintain a strategic partnership with each other. Furthermore, Chamilia has an alliance with the Walt Disney Company.

In the last year, the Los Angeles-based financial investor Brentwood Associates made a significant investment in the family business. Now, Swarovski is planning to acquire more than 25% of the company’s shares through its US-subsidiary. The Tyrolean group has already filed for approval of the deal by the Austrian Federal Competition Authority in Vienna. It expects to receive the green light for the transaction by July 1.

After a staff reduction during the years of crisis, Swarovski counts a workforce of 5,300 today. Markus Langes-Swarovski, speaker of the company’s executive board, feels confident that there will be an upswing in 2011. At the beginning of the year he announced a target growth rate of 10% and expansion plans in the jewelry branch.

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