Paris, France, May 16, 2019: Red Luxury, a Paris-based jewelry and watch company that designs, manufactures, and distributes its products to consumers worldwide, has officially acquired 80% of Pamela Love, a cherished fast growing jewelry brand heralded by consumers worldwide.
Aiming to boost sales to $15 million in the next 2-years, Red Luxury will take the $3 million sales currently and completely transform the company into one that is able to compete with larger, more global brands.
“It’s no secret that the jewelry market has become highly saturated with globalization today,” said David-Emmanuel Cohen, Founder and Owner of Red Luxury. “Therefore, we are stepping in and providing the boutique and small-batch, high-quality mentality of Pamela Love with our digital advertising and retail management expertise. That way, this kind of concept will remain competitive, without compromising the quality of their products.”
After Love spent some time last year in David Webb’s studio, looking through their collections and speaking with the jewelers, she knew she had to seek out a partner if she wanted to spend more time obsessing over the quality of her product. Coincidentally introduced to Cohen through a mutual friend, the acquisition only made sense.
Cohen confirmed that the acquisition is part of a long term plan to grow the company organically, while honing in on its e-commerce capability. Red Luxury will expand Pamela Love’s digital advertising and e-commerce sales, as well as open one store in New York City for 2020, and one store in Beverly Hills for 2021.