On April 30, Swarovski US Holdings agreed to acquire 100 percent of Minneapolis-based bead maker Chamilia.
Swarovski had previously been an investor in the company. Deal terms were not disclosed.
“Swarovski had seen great opportunity in 2011 to step into the personalized accessory and fine jewelry arena when it acquired a minority interest in Chamilia,” says CEO Douglas Brown. “As a strategic investor, completing a 100 percent acquisition of the company was what Swarovski would have originally intended.”
Chamilia will operate as an independent business unit within Swarovski, and keep its Minneapolis office. Brown, who joined Chamilia as CEO in January after 17 years with Swarovski, will continue in that role.
Co-founder and designer Killian Reider does not have a formal role at this time, Brown says.
“Killian and the founders had done a great job building the company to where it is today, so we will leave the doors open for future possibilities with her, but currently there are no formal plans in place,” he says.
According to an email signed by Chamilia sales director Richard Garrity, Cathy Ottaviano is joining Chamilia as vice president of products. Ottaviano currently heads product and branding for Swarovski’s Touchstone Crystal division.
Peter Englehart has joined the company as director of business development. Englehart comes to the company with more than 20 years of experience in the retail jewelry industry. He previously served as general manager for Ross-Simons, chief operating officer of Shreve, Crump & Low, and group director for Tiffany & Co.
Chamilia, founded in 2002, distributes its products to 3,000 retailers and boutiques nationally.
The email said that Swarvoski will bring resources to the bead marker, including customer research and product development expertise.