Warren-Buffett owned business Richline Group has acquired The Aaron Group business for an undisclosed sum, Diamond World report. Founded in the 1950, the Aaron Group is now a leading jewelry manufacturer and marketer with operations and hundreds of employees in New York, London, Mumbai, Hong Kong, and Guangzhou.
Dave Meleski, Richline Group’s President, said in a statement: “The Aaron Group’s differentiated, prime-manufactured products will offer Richline’s retail partners a dramatic new range of options and increased value, while preserving the legacy of customer satisfaction that both companies prioritize”.
According to Aaron Group President Robert Kempler, the acquisition “will enable The Aaron Group to grow faster [and] introduce new designs and collections more rapidly”.
Earlier this week, Richline reported its performance for third quarter period ending December 31, 2016. Sales rose 5% at constant exchange rates year-on-year. Growth was driven by jewelry across most regions and watches in the retail channel.
