Samuels Jewelers Incorporated owns and operates one of the largest chains of jewelry stores in the country, with 116 stores located in malls from California to Texas. Known until 1998 as Barry’s Jewelers, the company manages stores under five different names: A. Hirsh & Son, Hatfield Jewelers, Mission Jewelers, Schubach, and Samuels Jewelers. With stores primarily in the western part of the country, Samuels Jewelers offers customers a broad array of merchandise, with diamonds and gemstones comprising the majority of the company’s sales. Samuels Jewelers also specializes in watches and high-fashion gold jewelry, and competes directly with both high-end jewelry stores and discount chains. Samuels Jewelers has a troubled financial history, with the company filing for bankruptcy twice in five years; nonetheless, the company is committed to remaining a significant force within the jewelry industry.
Gitanjali Group Ltd. India’s largest integrated diamond and jewelry manufacturer and retailer, acquired Rogers Jewelers, one of the oldest family run jewelry chains in the U.S.
Gitanjali Gems had acquired a 100 percent stake in the specialty retailer, which operates 46 stores spread across 11 states in the U.S. with current revenues of $80.6 million, for an investment of $20 million. Gitanjali Group said in a statement that it will invest an additional $15 to $20 million.