Gem cutters Karl-Egon Wild, Kirschweiler, Germany, and Thomas Petsch, Idar-Oberstein, Germany, have merged their businesses. Both companies have been powerhouses in the Idar-Oberstein-area gemstone cutting industry, but increasing worldwide competition spurred them to “tackle the future together from a position of strength.”
The names may be familiar to retail jewelers and wholesalers in the United States. Karl-Egon Wild’s family has been cutting precious gems for generations, and the company’s forté lies in high-quality colored gemstones in classic cuts. About a quarter of its sales are in tourmalines.
Petsch also is a familiar name to some. Thomas, the grandson of Julius Petsch, recently took over the cut precious stones division of the Julius Petsch Company, which is known for the innovative Spirit Sun and Context cuts. The Julius Petsch Company is celebrating its centenary this year.
The merger of the two cutting firms was mostly taken as a positive sign for the future and should not adversely affect smaller cutting firms in the Idar region, say Wild and Petsch. It’s common for the smaller companies in the area to work with larger companies. The new company, named Wild & Petsch, is run jointly by Karl-Egon Wild, Alexander Wild, and Thomas Petsch and will be based at Karl-Egon Wild’s existing address.
The merger of Wild and Petsch is designed to improve the company’s global position in purchasing high-quality rough precious stones. It also should give the new company an increased cutting capacity and production range. The company’s goal is to process all inquiries and consignment requests within 24 hours.
Wild & Petsch will participate in The JCK Las Vegas show in June as well as the JA New York show, the Hong Kong Jewellery & Watch Fair, and Idar’s InterGem in October. For more information, contact Marianne Wild, Wild & Petsch, Hauptstrasse 69-71, 55743 Kirschweiler, Germany; (49 6781) 93700, fax (49 6781) 937033.