Supplier News

BIG JEWELRY MAKER MOVES OVERSEAS The Napier Co., a 124-year-old Meriden, Conn., manufacturer of fashion jewelry, was closed down Oct. 13 by Victoria & Co. of Warwick, R.I., which bought it only last March. About 300 employees were told to leave the plant immediately. They will receive paychecks and health benefits until Dec. 15. Richard Andreoli, Victoria chief operating officer, said in a statement that “Fierce competition has forced us to lower our costs” and that the company “must move offshore to remain competitive.” Victoria officials did not return telephone calls from JCK seeking comment. James Marquardt, president of Manufacturing Jewelers & Suppliers of America, tells JCK that overseas competition has had a negative effect on the nonprecious and low-end 14k segments of the industry for about 15 years, with many manufacturers moving offshore. “This is defi
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