Xcel Brands Acquires Judith Ripka Jewelry
Posted on April 5, 2014Xcel Brands has announced the acquisition of the Judith Ripka jewelry brand. Xcel says it paid approximately $22.5 million for the Judith Ripka brand. Judith Ripka is now the third brand in Xcel's portfolio. The company also owns the Isaac Mizrahi brand and has an interest in Liz Claiborne New York.
Robert W. D'Loren, Xcel chairman and ceo, says in a statement, "We are excited by the opportunity to work with Judith Ripka and her distinctive designs; the Judith Ripka Brand embodies our core mission of delivering products of uncompromising quality. We see a tremendous potential for engaging Judith's brand followers across new product categories, leveraging our Omnichannel strategy. This acquisition satisfied all of our acquisition criteria; it's strategic, synergistic, and accretive."
Judtih Ripka will serve as the brand's chief designer. She says, "This is an outstanding opportunity to cultivate our brand and reach our loyal followers in a new way. We deeply value our relationship with Robert D'Loren and look forward to joining him at Xcel. I'm thrilled to be part of the Company and believe that we are well positioned for the future."