Richline Group Acquires Silpada Designs
From its humble beginnings as a business founded by stay-at-home moms, Silpada saw stunning success, becoming the world's largest home party seller of sterling silver jewelry. Over the past three years significant investments were made to keep Silpada operating as the company worked to enhance and evolve its business to remain relevant in an evolving market.
Terms of the transaction were not disclosed.
Richline Group will continue to produce and market the Silpada brand through new channels, focusing on Silpada's sterling silver jewelry heritage. The Kelly and Walsh families will no longer be a part of Silpada moving forward.
"We see a tremendous opportunity to bring Silpada back to its creative roots. We plan to focus exclusively on these unique and accessible sterling silver designs that have clearly resonated with so many women across the world. We look forward to honoring the Silpada legacy while finding new ways to invigorate this unique and nationallyrecognized brand", said Richline Group CEO, Dennis Ulrich.
Richline plans to refocus the Silpada name around its sterling silver offerings. For the balance of 2016, Richline will continue serving Silpada's customer base with the core products Silpada is best known for, as well as a previously unreleased line of jewelry, as it refines a new direction forward for this national leader in silver jewelry. In addition to ongoing retail sales for the brand, Richline will continue honoring the Silpada Lifetime Guarantee that was in place prior to June 1, 2016 for all qualified purchases until September 2017.
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