Alliance Time, Bidz.com acquire Colibri brands

Independents

Save

E-mail

Alliance Time, Bidz.com acquire Colibri brands

March 26, 2009

Similar Stories | Topics

STORIES

Arrests reported at Colibri auction

Colibri auction slated for March 19

Workers protest Colibri's quick closing

Colibri Group seeks buyers for its brands

Amid debt, Colibri Group seeks receivership

New York--Watch distributor Alliance Time and online jewelry auction site Bidz.com emerged victorious in the auction for the assets of defunct jewelry manufacturer The Colibri Group.

According to Chris Ellis, managing member and president of Consensus Advisors, which ran the auction on behalf of The Colibri Group's receivers, Bidz.com paid $6 million for substantially all of the jewelry lines manufactured by Colibri, including the Krementz, Princess Pride, Darling Diamonds and Dolan Bullock brands.

Alliance Time, a New York-based distributor of brand name and designer jewelry, watches and accessories, acquired the Colibri, Seth Thomas and Linden Clocks brands, according to a release from the company.

Colibri includes lighters, accessories for men, jewelry, executive gifts and flasks, while both Seth Thomas and Linden manufacture clocks.

Ellis said Alliance paid $2.3 million for the brands.

According to the release, Alliance plans to sell these brands through its distribution channels with mid-sized and large-market retailers, national chains and high-volume e-commerce sites.

"Colibri, Seth Thomas and Linden are well-known brands with a history of quality and consumer appeal, from the ubiquitous Colibri lighter to the iconic Seth Thomas-manufactured clock in Grand Central Station in New York," said Eli Katz, president of Alliance's retail division. "We believe that their brand recognition, combined with the strength of Alliance Time's distribution network, will reinvigorate their presence in the marketplace."

Alliance Time is asking former employees of The Colibri Group to contact them at colibri@alliancetime.com for background analysis and to investigate potential work opportunities.

The auction for the assets of East Providence, R.I.-based The Colibri Group, which once sold its brands through more than 20,000 retail outlets, was held March 19 in Rhode Island.

The company ended up having to sell its assets at auction after a judge placed it into receivership - a legal action in which a court-appointed receiver takes charge of the company's assets and financial affairs - in January due to financial struggles.

Save

E-mail

More Independents

JCOC: 11 percent to purchase jewelry this holiday

Paso Robles, Calif.--Eleven percent of Jewelry Consumer Opinion Council (JCOC) panel members plan to purchase fine jewelry or watches as a gift this holiday season, with 82 percent of this group believing they are either somewhat or extremely likely to do so, according to the JCOC's Pre Holiday study. Read More

JA offers grant fund for state association partners

Jewelers: Win Platinum Points over the holidays

More Independents

More Like This

Arrests reported at Colibri auction

March 20, 2009 | National Jeweler Network

Colibri auction slated for March 19

March 04, 2009 | National Jeweler Network

Workers protest Colibri's quick closing

February 04, 2009 | National Jeweler Network

Colibri Group seeks buyers for its brands

January 29, 2009 | National Jeweler Network

Amid debt, Colibri Group seeks receivership

January 15, 2009 | National Jeweler Network

Design Portfolio

BROWSE

Video

Retailer Toolbar

America's Best Jewelers
Join the ONLY Social Network for Jewelry Retailers. Get access to expert content, peer best practices, and more.
Start networking today.

Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.

ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.

Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.

Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.

CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.