Rumours about the potential sale and future of Tuskc began to circulate in July when Melissa Gibson, then general manager, announced that she had purchased the brand’s parent company, Buckle. At the time, it was also announced that Tuskc was not included in the acquisition.
According to International Brand Distributors (IBD) managing director Hannes Coetsee, the opportunity to acquire Tuskc came at the right time. Up until then, the supplier had been looking to acquire the local distribution rights for another stainless steel brand.
“But then Tuskc came along. The brand already had great foundations and so we saw it as an opportunity to continue that legacy,” Coetsee told Jeweller.
Aside from having an existing presence in the local market, he also made reference to Tuskc’s inclusion in BRW’s 2013 Fast Starters list as an example of the brand’s business success and motives for the acquisition.
Coetsee added that Tuskc would work well alongside IBD’s other two brands: Ti Sento-Milano, which specialises in silver jewellery; and Lily and Lotty, a silver and diamond range originating from the UK.
“They are all completely different ranges, with different price points, design and target markets,” he said.
IBD will represent Tuskc for the first time at the International Jewellery Fair in Sydney, while the deal will not be finalised officially until later in September.
Commenting on the acquisition, Gibson, who is currently supporting Coetsee throughout the transition, said, “I couldn’t think of a more perfect person to take on the brand. It’s exciting to think where Tuskc will be in the next two to three years under the direction of Hannes and his team.”
Tuskc was established in 2009 by the great granddaughter of Alick Buckle, founder of the iconic Buckle brand. Until now, the 91-year-old belt and accessories business has been family-operated.
“It was definitely a personal decision from all three directors, David Randall, Jacquie Randall and Paul Morris, to sell the business. You need to consider that siblings, Jacquie and Paul, have been involved with the Buckle business since birth, so they probably felt that the timing was right to pass on these two great companies to the ‘next generation’ of owner,” Gibson said.
She added that no changes to Tuskc contact details or sales teams would be made until September, when the acquisition had been finalised.
IBD was established in 2011 and Coetsee confirmed that the company was looking to further expand its brand offering later this year.
“We’re hoping to finalise the acquisition of another brand in the 9-carat gold category in time for the Christmas trading period,” he told Jeweller.
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