Bridal company Frederick Goldman has purchased the assets of its competitor, Scott Kay.
The news comes two months following the death of Scott Kay, who passed away of a heart attack.
“I am honoured to carry on the legacy of Scott Kay’s highly passionate, creative, and pioneering spirit,” says Frederick Goldman chair and chief executive officer (CEO) Jonathan Goldman.
“Scott had such an amazing commitment to family, faith, and values, which is something we highly value at Frederick Goldman Inc. We couldn’t be more pleased to welcome the Scott Kay brand into our family.”
According to JCK, Scott Kay will remain headquartered in Teaneck, N.J., and will operate as a wholly owned subsidiary of Frederick Goldman. Scott’s daughter, Tiffany, will continue as vice-president of merchandising, although the company’s CEO, David Minister, will be leaving. The deal was not in the works at the time of Scott’s death, JCK reports.
“The acquisition offers us the ability to build upon a very well recognized and respected consumer brand name,” Goldman adds. “The Scott Kay brand fulfils a clear need within the jewellery industry for branded, distinctively designed, high-quality bridal, wedding, and fashion jewellery. There really is no other branded collection to compete with Scott Kay, and we believe the opportunities for growth are extensive.”
In addition to his role as executive vice-president of global sales and merchandising for Frederick Goldman, Adam Gurian will assume the role of general manager for the Scott Kay brand.
Last December, Frederick Goldman appointed Nouvo Mode as its Canadian distributor for the Goldman, ArtCarved, and Triton brands.
