Swarovski acquires all of Signity Group
By JCK Online Staff -- JCK Online, 10/10/2006 11:07:00 AM
The Swarovski Group has acquired Golay Buchel’s share of the Signity Group, which supplies precision-cut genuine and created gemstones.
Signity Group is a sales, marketing, and distribution venture established in 1999 by Swarovski and Golay. It is headquartered in Horgen, Switzerland, with sales offices in Europe, Asia and the Americas. Effective Nov. 1, the acquisition raises Swarovski’s stake in Signity to 100 percent, and also includes all of Golay’s assets associated with the production and development operations for synthetic stones and marcasite.
Swarovski, in a statement, said it intends to improve its position in the highly competitive and fragmented cubic zirconia market, gain additional market share, and further strengthen its leadership role in premium cut genuine and created gemstones.
Golay made the strategic decision to completely exit the area of synthetic stones and marcasite, and sell its associated assets to Swarovski. However, the company said it will continue to provide precision-cut gemstones for the luxury watch industry and quality hand-cut gemstones for the jewelry trade. Golay will elevate its focus on high-end cultured pearls, finished jewelry, and diamonds.
Swarovski, Wattens, Austria, is a leading brand for cut crystal. The company supplies crystal jewelry stones and crystalline semi-finished goods for the fashion, jewelry and lighting industries; as well as gift articles, home accessories, and collectibles.
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