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Richline Buys Silpada Designs

Richline’s CEO want to “bring Silpada back to its creative roots.”

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Richline Group Inc., a subsidiary of Berkshire Hathaway, has acquired select assets of Silpada Designs.

The assets include the Silpada brand name, its jewelry designs and all sterling silver and fashion jewelry inventory.

Financial terms of the transaction were not disclosed.

From its start as a business founded by stay-at-home moms, Silpada “saw stunning success, becoming the world’s largest home party seller of sterling silver jewelry,” according to a Richline press release.

Richline, a manufacturer and marketer of fine jewelry brands, will continue to produce and market the Silpada brand through new channels.

While the Kelly and Walsh families will no longer be a part of Silpada, they are “extremely pleased that the Silpada brand will live on as a member of the Richline family of brands,” according to the release.

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“We see a tremendous opportunity to bring Silpada back to its creative roots,” said Dennis Ulrich, CEO of Richline. “We plan to focus exclusively on these unique and accessible sterling silver designs that have clearly resonated with so many women across the world. We look forward to honoring the Silpada legacy while finding new ways to invigorate this unique and nationally recognized brand.”

For the balance of 2016, Richline will continue serving Silpada’s customer base with Silpada’s core products, as well as a previously unreleased line of jewelry.

In addition to ongoing retail sales for the brand, Richline will continue honoring the Silpada Lifetime Guarantee that was in place prior to June 1, 2016, for all qualified purchases until September 2017.


Read more at BusinessWire.

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