American Exchange Group (AXNY Group) announced on Tuesday the acquisition of jewelry company, Danecraft, along with its Primavera Italy brand. Terms of the deal were not disclosed.
The acquisition of Danecraft aligns with AXNY Group’s significant growth strategy, which focuses on identifying brands, partnerships, and opportunities that bring value to a wide range of consumers.
Danecraft’s collection of fashion and bridge jewelry will complement AXNY Group’s existing portfolio of watch and jewelry brands, including Kendall & Kylie, Alexis Bendel, Ed Hardy, and American Exchange.
American Exchange Group plans to leverage its successful logistics structure, sourcing and manufacturing capabilities to enhance Danecraft’s product range. With the recent acquisition of Giant Propeller, a creative services and digital marketing company, AXNY Group is poised to create a holistic marketing and sales strategy for Danecraft products and the Primavera Italy brand.
This includes the launch of direct-to-consumer channels. In collaboration with Danecraft’s well-established retailer relationships, the two companies aim to expand distribution channels and introduce Danecraft to a broader range of categories and audiences.
“I firmly believe in a holistic approach when seeking out brands to add to our portfolio, focusing on opportunities that genuinely enrich and elevate our customers’ lives. 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,” said Alen Mamrout, CEO of American Exchange Group.
“With this acquisition, we not only expand our influence in the jewelry industry but also reaffirm our dedication to offering products that hold enduring value.”
Danecraft, a name synonymous with unwavering commitment to quality, integrity, and generational success, has been a prominent figure in the jewelry industry since its establishment in 1934. Founded by the Primavera family in Providence, Rhode Island, Danecraft’s roots trace back to the early 1900s in Italy.
“This transaction marks an exciting new chapter for Danecraft, one that not only honors our legacy but also propels us into a future of limitless possibilities. Danecraft will continue to create exceptional jewelry that captures the essence of generations past while embracing the trends of today. I know that the company is in excellent hands with American Exchange Group, and our tradition of excellence will thrive,” added Victor Primavera CEO at Danecraft.
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