A New York-based brand-development group has acquired a majority stake in fine jeweler Neil Lane.
Authentic Brands Group (ABG) announced the acquisition of the celebrity designer’s namesake brand last week, adding it to a portfolio that already includes fashion labels Judith Leiber, Juicy Couture, Frye, and Hickey Freeman.
“Neil’s influence in jewelry, bridal and entertainment provides a solid foundation from which to grow Neil Lane into a full lifestyle brand,” said Jamie Salter, chairman and CEO of ABG.
Jewelry will continue to be a cornerstone of Neil Lane, but ABG plans to expand the company into the home, travel and fashion sectors as well, the group said.
Lane, whose pieces have appeared on reality TV show The Bachelor and who has made a name for himself on the red carpet, will continue to own and operate his couture jewelry boutique in West Hollywood, California.
“ABG’s capabilities in building value are unparalleled, and I’m confident that together we will take my brand to the next level,” Lane said.
ABG also intends to broaden the company’s partnership with US retailer Signet Jewelers, which carries Lane’s vintage-inspired collections at its subsidiaries Kay Jewelers, Zales, and Jared: The Galleria of Jewelry. It will focus on growing the brand’s global presence via key social media and digital platforms, ABG added.