The M Jewelers, an Instagram-savvy New York City jeweler, has been acquired by Paris-based jewelry and watch company Red Luxury.
Financial terms were not disclosed.
The M Jewelers was founded in 2013 by Mark Shami and Anthony Frisina with a store in New York City’s Diamond District. In January, it opened a 1,000-square-foot location on Mulberry Street, in New York City’s Nolita neighborhood. It plans to open a third store on Melrose Avenue in Los Angeles in September.
In a statement, Red Luxury cofounder David-Emmanuel Cohen said he hoped to eventually open 20 new M Jewelers stores across the United States. It’s also eyeing locations in Europe.
M Jewelers’ 2021 revenue was $12 million. Red Luxury Group aims to double that number within 2 years, and reach $50 million in revenue by 2027.
“We are here for the long term and have strong ambitions,” Cohen added.
The statement noted that Bella Hadid was recently seen on the street of New York City wearing an M Jewelers necklace.
Other jewelry and watch brands owned by Red Luxury include Pamela Love, Christian Lacroix, Rochas, and Opex.
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