EXCLUSIVE: Xcel Brands Sells Judith Ripka

by · WWD
Judith Ripka jewelry.Courtesy image

Xcel Brands, the media and consumer products company, sold the Judith Ripka jewelry brand to Fuzion Creations, a large wholesale manufacturer of fine jewelry.

The transaction was valued at approximately $3 million, according to Xcel.

“I am pleased to have found an outstanding strategic buyer to continue the legacy of this luxury fine jewelry brand,” said Robert D’Loren, chairman and chief executive officer of Xcel Brands, in a statement. “I am excited to see the new vision of Judith Ripka fine jewelry. This is an exciting moment for Xcel as we continue to leverage our deep experience in video commerce to build influencer-led brands around their millions of followers.”

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The Brooklyn-based Fuzion supplies jewelry brands to retailers. Its portfolio includes the Diamanté, Tiara, Gioelli, Jenne, Jordan Blue and Junior Jewels brands, as well as Judith Ripka. The company has been in business for over 40 years and also has offices in Guangzhou, China.

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Xcel bought Judith Ripka for $20 million in 2014. At the time, Ripka was said to be generating approximately $100 million in sales and was considered a good fit for Xcel’s portfolio, but the company’s business model started to evolve. The New York City-based Xcel Brands now specializes in building influencer-led brands through social commerce and live streaming.

Judith RipkaCourtesy Photo

Xcel owns the Halston and C. Wonder brands, as well as the cobranded collaboration brands Tower Hill by Christie Brinkley; Trust Respect Love by Cesar Millan; GemmaMade by Gemma Stafford, and Off/Duty by Coco Rocha. Xcel Brands is also a partner in the Mesa Mia by Jenny Martinez collection, and manages the Longaberger by Shannon Doherty brand through its controlling interest in Longaberger Licensing. The company designs, licenses and markets branded apparel, footwear, accessories, fine jewelry, home goods and other consumer products.

According to Xcel, its previously owned and current brands have generated more than $5 billion in retail sales via livestreaming on interactive television and digital channels and has over 20,000 hours of content production time in livestream and social commerce. Xcel reaches more than 46 million social media followers with broadcasts reaching 200 million households.

Ripka launched her first collection in 1977 and moved into her own retail in 1993 with a store in Manhasset, N.Y. Ripka has been known for offering versatility, with her designs typically created with diamonds, 18-karat gold and sterling silver, making them suitable for both casual and more formal occasions. With Xcel, the goal was to elevate the collection from more of a mass appeal, sold on QVC, to an upscale positioning at better stores like Saks Fifth Avenue and Nordstrom.