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Swarovski acquires Chamilia after recently announcing its plan for expansion

Swarovski acquires Chamilia

5.5 k views | Posted May 06, 2013 | By Emily Mobbs • Former Editor

The plot thickens for US-based Chamilia – after officially ending its Australia and New Zealand operations last month, the business has now been acquired by Swarovski.

According to media reports, Swarovski US Holdings has agreed to purchase 100 per cent of the bead and charm business. The deal is said to have been confirmed on Tuesday 30 April, ironically the same day that Chamilia closed its Australian office.

Swarovski had previously been a Chamilia shareholder and the terms and conditions of the acquisition have not yet been disclosed.

Killian Rieder, Chamilia co-founder

The announcement comes just days after Swarovski revealed at BaselWorld that it intended to purchase a number of established jewellery brands as part of its 2020 Vision brand development program.

As reported by Jeweller, the company planned to become the global jewellery market leader over the next five to six years through organic growth, development of in-house brands and concepts, and an acquisition strategy.

Richard Garrity, chief sales and marketing officer Chamilia US

Chamilia will reportedly operate as an independent unit within Swarovski, and continue to run from its Minneapolis office. Its CEO Douglas Brown – who joined the company in January 2013 after 17 years working at Swarovski – will maintain his position.

Brown confirmed to JCK that co-founder and designer Killian Reider did not have a formal role in the new operation at this point in time.

"Killian and the founders had done a great job building the company to where it is today, so we will leave the doors open for future possibilities with her, but currently there are no formal plans in place," he said.

Jeweller reported in March this year that Chamilia would be ending its operation in Australia and New Zealand.

Chamilia chief sales and marketing officer Richard Garrity said, “the decision to close Chamilia Australia was the outcome of a strategic review of the company’s global operations and resulting decision for increased commitment to the company’s core markets of North America and Europe.”

Jeweller has sought clarification from both companies about whether the change in ownership will result in a revision of Chamilia’s exit from the Australian and New Zealand markets. At the time of publication, however, no response had been received.