In an exciting announcement on Tuesday, the American Exchange Group (AXNY Group) revealed its acquisition of jewelry company Danecraft and its brand, Primavera Italy. While the terms of the deal were not disclosed, this move aligns perfectly with AXNY Group’s growth strategy, which involves identifying brands, partnerships, and opportunities that bring value to a diverse range of consumers.
With Danecraft’s collection of fashion and bridge jewelry, AXNY Group’s existing portfolio of watch and jewelry brands, including Kendall & Kylie, Alexis Bendel, Ed Hardy, and American Exchange, will be complemented. The plan is for AXNY Group to leverage its successful logistics structure, sourcing, and manufacturing capabilities to enhance Danecraft’s product range. Additionally, the recent acquisition of Giant Propeller, a creative services and digital marketing company, allows AXNY Group to create a comprehensive marketing and sales strategy for Danecraft’s products, including the Primavera Italy brand. The company also intends to launch direct-to-consumer channels. By collaborating with Danecraft’s established retailer relationships, the two companies hope to expand distribution channels and introduce Danecraft to a wider range of categories and audiences.
Alen Mamrout, CEO of American Exchange Group, emphasized the importance of taking a comprehensive approach when selecting brands to add to their portfolio. Mamrout understands that enriching and elevating customers’ lives through their offerings is essential. He stated, “Just as we welcomed previously acquired brand teams such as the most recently announced Hatch Collective, now rebranded as AX Beauty Brands, into our family, today, we’re thrilled to announce our acquisition of Danecraft, a jewelry brand deeply rooted in family heritage, integrity, and a long-standing reputation for excellence.” This acquisition not only expands AXNY Group’s influence in the jewelry industry but also reaffirms their dedication to providing products of enduring value.
Danecraft, a renowned jewelry brand recognized for its commitment to quality, integrity, and generational success, has been a prominent figure in the industry since its establishment in 1934. Founded by the Primavera family in Providence, Rhode Island, the roots of Danecraft can be traced back to the early 1900s in Italy. Victor Primavera, CEO at Danecraft, expressed his enthusiasm about this new chapter for the company, stating that it both honors their legacy and propels them into a future of limitless possibilities. He firmly believes that Danecraft will continue to create exceptional jewelry that captures the essence of past generations while embracing current trends. Primavera expressed his confidence in AXNY Group, stating that their tradition of excellence will thrive under their ownership, ensuring a successful future for Danecraft.
Useful Links:
1. [American Exchange Group Official Website](https://www.axnygroup.com/)
2. [Danecraft Official Website](https://www.danecraft.com/)
