Authentic Brands Group has purchased a majority interest in the Neil Lane brand.
The creations of the renowned designer (pictured) regularly adorn celebrities and contestants on The Bachelor franchise.
Terms of the deal were not disclosed.
Lane retains an ownership take in the company and will remain “the chief creative force driving the brand,” says Nick Woodhouse, ABG’s president and chief marketing officer.
Woodhouse says the company wants to expand the Lane brand into other categories, including tabletop, travel, wedding dresses, and—relevant for JCK readers—watches.
The designer tells JCK: “This is going to take my aesthetic and take it into a whole lot of other categories. I can’t wait to have input on glasses, stationery, wedding invitations. The world is our oyster right now.
“I have sprinkled Hollywood dust, glamour dust, on jewelry for so many years. Now I’m going to sprinkle it on other things.”
Lane says he wasn’t looking to sell his company.
“I am always looking for partners to do what I can’t,” he says. “I am not the guy who does the heavy lifting. ABG can do that. I have always desired to be with people who understood me. This is the next journey for me. I am always looking for the next journey.
“Everything will be the same,” he added, “just on steroids.”
Lane will continue to own and operate his jewelry boutique in West Hollywood, Calif.
Authentic Brands Group’s 28-brand portfolio includes Judith Leiber, Juicy Couture, Frye, and Hickey Freeman, as well as the licensing for celebrities like Marilyn Monroe and Elvis Presley.
As a result of this deal, ABG plans to increase its involvement with Signet, which carries the Lane brand in its Kay, Jared, and Zales stores.
(Image courtesy of Authentic Brands Group)