Fashion jewelry and watch manufacturer Haskell LLC is branching into e-tailing with a strategic investment. The company just announced plans to acquire 50% of online designer jewelry retailer Charm & Chain, which features both seasonal and classic designs from nearly 50 designers.
Founded in 2008 by Ali Galgano, Charm & Chain offers a curated selection of stylish, affordable women’s designer jewelry. Click here for a look at their recent bestsellers.
“Ali and Jamie have done an outstanding job building Charm & Chain and positioning it for significant growth,” says Brett H. Fialkoff, COO of Haskell LLC. “Their online retail experience and technology platform adds a new and important component for Haskell. Management at Charm & Chain will remain intact and both companies will be able to leverage our shared expertise going forward to build a major private branded business.”
Haskell is also planning to develop a proprietary fashion jewelry line for Charm & Chain, which will be sold on their site.
“We have worked to build the premier web destination for quality fashion jewelry and both our designer partners and discerning, jewelry-loving consumers have responded enthusiastically,” says Ali Galgano, Founder and CEO of Charm & Chain. “It is time to take our vision for the company to the next level and we are thrilled to have the support of Haskell, a respected industry leader.”
Manhattan-based Haskell LLC is one of the largest fashion jewelry designers and manufacturers in North America with a portfolio of brands including namesake Miriam Haskell and Robert Lee Morris, as well as designer licensees including Diane von Furstenberg, Betsy Johnson and Kenneth Cole. Haskell distributes products in over 40 counties around the globe.
Charm & Chain’s financial advisor in the transaction was New York City investment banking firm Financo.