Andin International Joins Richline Group (Updated)
May 03, 09
Andin International, a New York based manufacturer and supplier of colored stone and diamond fashion fine jewelry, has joined the Richline Group, owned by Warren Buffet's Berkshire Hathaway.
On Thursday, Richline announced that Andin had joined the Richline family of brands, with Ofer Azrielant, Owner and CEO of Andin, to serve as executive vice president of Richline's Gem Group.
The deal, according to Richline and Azrielant, has promise for Andin's customers, "This will be an important addition to our group of brands, enabling the Richline Group in its continuing efforts to be a very comprehensive single resource to leading retail jewelers around the world," Richline said.
"The exciting part of this transaction is that Richline will be able to provide you with more orders and the security that comes with being a subsidiary of Berkshire Hathaway," Azrielant wrote to suppliers.
Founded in 1981 by Ofer and Aya Azrielant, Andin has gained a reputation as a market leader in the jewelry industry, with innovations such as the Millenium Heart, Jewelry.com and most recently, the "Hope" Collection.
It is not known if Jewelry.com, the aggregator and e-zine website operated by Andin, is among the assets that Richline bought.
Last update