RICHLINE GROUP ACQUIRES ONLINE CUSTOMIZABLE FINE JEWELRY PROVIDER GEMVARA
Leading US fine jewelry manufacturer and marketer and wholly-owned subsidiary of Berkshire Hathawa, the Richline Group has acquired Massachusetts headquartered Gemvara, an online provider of customizable fine jewelry, according to IDEX Online.
The acquisition will allow Gemvara to continue to provide its customizable jewelry online, while taking advantage of Richline’s greater reach across the entire jewelry value chain. Richline is also keen to welcome Gemvara’s platform and technology into the group, notes IDEX Online.
“The acquisition will enable Gemvara to grow faster, introduce new designs rapidly and expand on our success with a broader array of affordable fine jewelry,” says Gemvara President Jon Blotner.
“We believe that Gemvara’s differentiated platform will offer Richline’s retail partners additional value in the rapidly growing personalized jewelry space, and will also help them to enhance their overall ecommerce businesses,” adds Richline Group CMO Mark Hanna.