Designers / Diamonds / Industry / Retail

Retailer and Designer Lugano Diamonds Purchased for $256 Million


Lugano Diamonds, a four-store upscale retailer and jewelry designer based in Newport Beach, Calif., has been purchased by investment company Compass Diversified (CODI) for an enterprise value of $256 million.

The company will continue to be led by its current leadership team, including cofounder and current CEO Moti Ferder. Its existing owners and management will retain a significant minority stake in the company, according to a statement.

In the same statement, Elias Sabo, CEO of CODI, said Lugano has demonstrated “impressive growth, particularly over the past several years,” and that he supports Lugano’s plan to become “the next major jewelry brand.”

He also said CODI intends to grow the company by rolling out more retail stores and expanding geographically. The investment company also wants to plan more “event-driven marketing efforts.”

Lugano was founded in 2004 as a diamond-cutting firm based in Israel. It opened its first retail location in Newport Beach in 2005. It now sells what it calls “one-of-a-kind” pieces via showrooms in Newport Beach as well as Aspen, Colo.; Palm Beach, Fla.; and Ocala, Fla. It also hosts frequent pop-up showrooms.

lugano diamonds salon
The Lugano Diamonds salon in Aspen, Colo.

In addition to retail sales, Lugano offers private appointments for customers in homes, hotel suites, and offices. It also hosts and sponsors more than 100 equestrian, social, and philanthropic events every year.

Westport, Conn.–based CODI specializes in middle-market North American businesses. This is its first jewelry acquisition.

Said Ferder in the same statement: “We have built a loyal, long-term consumer base, and we expect CODI’s support will provide us the resources to introduce more clients to Lugano’s model.”

Lugano and CODI execs were not available to speak at press time.

Top: Lugano Diamonds bracelet featuring a 5 ct. yellow teardrop diamond inlaid in rock crystal and a 4 ct. rose-cut diamond set in titanium amid brilliant-cut diamonds (all photos courtesy of Lugano Diamonds)

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By: Rob Bates

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