JOHN HARDY TAKES OVER U.S. SALES
Byline: Melanie Kletter
NEW YORK — Jewelry designer John Hardy is taking control of his worldwide distribution.
His company, John Hardy Inc., has bought out the remaining contract of ViewPoint, the New York marketing and sales showroom that has been distributing the brand in the U.S. for the last nine years. The companies declined to discuss terms of the deal, but said it will be completed early next month.
“This is a progression of our business,” Hardy said in a phone interview on Friday. “We have grown incredibly since we started and the future only holds opportunities. This is the right time for us to do this.”
He said his company doesn’t plan to significantly change the brand’s distribution, but it is evaluating every aspect of this business. Hardy, who primarily lives in Bali with his wife, Cynthia, who is also his business partner, said the company has a temporary space in New York and is looking for more permanent space, as well as people to run the operations here.
The brand now has sales of about $65 million and its products are distributed in about 250 stores, primarily independent jewelers, as well as in Saks Fifth Avenue and Neiman Marcus. Founded in the early Eighties, Hardy is best known for its chunky and intricate silver pieces, but has increased its offerings of gold lately, and has added more gemstones.
Although its core business is watches and jewelry, in recent years, the company has expanded into a number of new categories, including home, men’s jewelry, baby jewelry and candles. Prices range from about $150 to $12,000, with an average price of $600.
In recent years, ViewPoint has sought to expand Hardy’s international distribution, said Jim DeMattei, Viewpoint’s president, who said the split was “amicable.”
ViewPoint also works with jewelry firms Lisa Jenks and La Nouvelle Bague, as well as Wink, an optical firm.