Jacmel NYC, one of the United States’ largest jewelry distributors, has acquired the Boho Boutique, an e-commerce brand that offers on-trend affordable jewelry. Terms of the deal were not disclosed.
Saul Owide founded the Boho Boutique in 2016. The company currently has customers in 147 countries, and Shopify identified it in 2017 as one of the fastest-growing stores. Owide told JCK he felt Jacmel, with its history in the jewelry business, would provide the brand with a seamless transition. “That proved to be a great call, as it was smooth sailing, including the transfer of inventory from our facility in Columbus, Ohio, to theirs in New Jersey, so they could instantly take over distribution without delay,” he says.
“I knew instantly, after my first meeting—on Zoom, of course—with Jack Rahmey, owner and CEO of Jacmel, that they were the perfect fit,” Owide adds. “Jacmel has achieved—and continues to achieve—huge success offline, and it’s a great time for them to make moves into the digital world of e-commerce, and what better than a brand with a proven track record.”
Rahmey returned the accolades. “We view the Boho Boutique as an important strategic step for Jacmel in building out and scaling our digital presence,” he said in a statement. “We feel it is a great time to diversify into the direct-to-consumer market digitally, and a brand with a solid footprint online means we can hit the ground running. What Saul and his team have built in five short years is a great foundation for a very exciting brand that we are delighted to have acquired.”
Owide plans to launch Rachel Bloom NYC, a new smartbag concept, in late fall. He felt that with his new venture, selling the Boho Boutique was the best option, given his time was spread too thin. “I simply couldn’t give the brand the energy it needs to continue the rapid growth we achieved in the previous four years,” he says, “so in order to continue its northward trajectory, I felt it best to relinquish the reins.”
Top: Glam rock boho earrings at the Boho Boutique, $18 (photo courtesy of the Boho Boutique)Follow JCK on Instagram: @jckmagazine
Follow JCK on Twitter: @jckmagazine
Follow JCK on Facebook: @jckmagazine