While neither company would comment on the specific terms and conditions of the acquisition, Chamilia sales and marketing officer Richard Garrity told Jeweller that Chamilia would operate as an independent business unit within Swarovski.
The Austrian-based Swarovski had previously been a shareholder in the US-based bead and charm business.
Garrity added that Douglas Brown would maintain his position as CEO. Brown joined Chamilia as CEO in January 2013 after spending 17 years with Swarovski in North America.
Having officially ended operations in Australia and New Zealand last month, the change in ownership does not appear to have had any bearing on a possible revision of this decision.
“Our immediate focus continues to be on improving product performance and retail execution within our core markets of North America and Europe. The resources and expertise Swarovski provides will help us significantly toward achieving this objective,” Garrity said.