
Timex Group has purchased a stake in jewelry companies Jane Win and Pictures on Gold, as part of an effort to expand as a lifestyle brand, the watchmaker said yesterday.
These investments “reflect our long-term vision for building a portfolio of distinctive brands with strong consumer connections and new opportunities for growth,” Timex Group president and CEO Tobias Reiss-Schmidt tells JCK in an email interview.
“Jane Win brings a distinctive consumer brand with strong emotional resonance, while Pictures on Gold adds differentiated personalization and manufacturing capabilities,” Reiss-Schmidt says. “Together, these investments broaden the strategic reach of our portfolio and complement the capabilities we are continuing to build across watches, jewelry, and lifestyle accessories.”
Details on the dollar amounts and size of Timex’s shares in the two jewelry companies were not disclosed. Digital Fuel Capital is Timex’s partner in the investments.
The Shelton, Conn.–based watchmaker said it plans to apply its capabilities in design, sourcing, product development, manufacturing, distribution, and brand-building to support growth at Jane Win and Pictures on Gold.
Jane Win, founded by Jane Winchester Paradis, produces coin pendants positioned around personal expression and milestone moments. “We are proud of what we have built at Jane Win,” Paradis said in a statement. “As we considered potential investors, Timex Group stood out for global capabilities that will enhance our product assortment and distribution, along with its strong understanding of brands. We are excited for this next chapter and the opportunity to reach more customers with an elevated Jane Win experience.”
Pictures on Gold is an e-tailer of personalized and custom jewelry. “We have built a strong business around proprietary technology and local production, and we have applied that platform across our brands,” Daniel Schifter, founder and CEO of Pictures on Gold, said in a statement. “We believe Timex Group can help sharpen our brand and product strategy to capture more of the value of our platform, while opening additional opportunities for growth across its portfolio.”
Timex Group said the investments build on its earlier jewelry ventures—a partnership with men’s jewelry brand JAXXON and a 51% acquisition of Daniel Wellington, a Scandinavian maker of jewelry and watches.
Timex Group’s portfolio also includes Adidas, Aston Martin, Daniel Wellington, Ferragamo, Guess, Nautica, rag & bone, and Versace.
NewSpring Capital said it has provided subordinated debt and equity to support the Timex/Digital Fuel investment in Jane Win.
Top: Coin pendants by Jane Win, a jewelry brand now partly owned by Timex (photo courtesy of Jane Win)
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