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Lifetime Acquires Gorham

By Staff -- Gifts and Dec, 7/23/2007 11:58:00 AM

Garden City, NY — Lifetime Brands completed its acquisition of the Gorham, Kirk Stieff, Whiting and Durgin sterling silver businesses from Lenox Group. Terms of the deal were not disclosed. Under the agreement, Lifetime gained the exclusive license to manufacture and distribute products under each of the acquired brands.

"This transaction will enable us to leverage Lifetime's existing sterling manufacturing infrastructure with minimal incremental cost," said Jeffrey Siegel, chairman, president and CEO of Lifetime.

This is the latest in a string of silver and tabletop brands acquisitions that Lifetime recently made. Since 2004, Lifetime completed the acquisition of Syratech, Pfaltzgraff, Salton and Excel Importing Corp.

Gorham last changed hands in 2005 when it was purchased by Department 56, along with the Lenox and Dansk brands. (The company renamed itself Lenox Group once the deal was complete.) In September 2006, Gorham was named one of four “core” brands on which Lenox planned to focus.

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When a brand loses its luster because it becomes self evident that the
brand name has lost its connection to the company that actually
manufactures it (and has a history with it) consumers wise up and
realize the brand means nothing. To have consumers care, companies
need to think about manufacturing their products instead of gutting
out and discarding what it is that made the product successful (the
company that manufactured the product) and what the consumers
intuitively know. If there is no difference, then there is no difference.
Any so called "brand" want to do something wild and eye popping
consumer generating company building successful? Produce your
product in your own factory in the United States. It can be done, and
this is the decade.

David Schwalje - 2008-02-01 09:03:00 EST

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