Founded : 1984
Activities : Retail jewelry collection, jewelry collection, watches
Parent Company : Finlay Enterprises
Stockists : 5 locations
Origin : 2075 Periwinkle Way
Sanibel Island, FL.
Finlay Enterprises Inc., the largest U.S. operator of licensed fine jewelry departments in department stores, on Nov. 8, 2006 purchased privately owned Congress Jewelers. Finlay executed a stock purchase agreement for the acquisition, subject to various closing conditions and obtaining necessary consents. Congress Jewelers has five jewelry stores in Florida, focused on the luxury market, with annual sales of about $23 million.
“Evaluating potential acquisition targets has remained a key strategic initiative, as we continue to look for different ways to grow and diversify our business,” said Arthur E. Reiner, (former) chairman and chief executive officer of Finlay Enterprises Inc. “Our success with Carlyle & Co. jewelers, which we acquired in May 2005, has given us valuable knowledge and confidence in operating and competing in the luxury jewelry market,” Reiner added. “We believe there are great opportunities within the Congress business and see it as very complementary to our existing Finlay business.”
Finlay Enterprises, Inc., through its wholly-owned subsidiary, Finlay Fine Jewelry Corporation, is a leading retailer of fine jewelry and the largest U.S. operator of licensed fine jewelry departments in department stores.
Finlay Fine Jewelry Corporation is one of the leading retailers of fine jewelry and the largest operator of licensed fine jewelry departments in department stores, with over 1,000 locations throughout the United States, and operates through the Internet. Finlay Fine Jewelry Corporation’s brands included Caryle & Co., J.E. Caldwell, Park Promenade, Congress Jewelers and Bailey Banks & Biddle Fine Jewelers. Additional information on Finlay Fine Jewelry Corporation and its brands is available at www.FinlayEnterprise.com.
Finlay to Buy Congress Jewelers
By JCK Staff
Posted on November 8, 2006
In 2011, founder Scot Congress negotiated the purchase of the Congress Jewelers brand and relaunched at the companies original location at Periwinkle Place Shops 2075 Periwinkle Way #35. Sanibel Island, FL. www.CongressJewelers.com
Congress Jewelers is no longer affiliated with Finlay Enterprises.