Freeman Spogli & Co. has obtained a majority interest in Ross-Simons, one of the largest independent retailers of fine jewelry, gifts and collectibles. The Ross-Simons group of companies includes Gearys of Beverly Hills, a retailer of luxury jewelry and giftware.
"We are indeed fortunate to be affiliated with Freeman Spogli, a firm with an outstanding reputation and extensive experience in direct marketing and retailing," says Darrell Ross, chairman and CEO of Ross-Simons. "With Freeman Spogli as our partner, Ross-Simons and Gearys will be well positioned for continued long-term expansion, including more aggressive retail store growth as well as increased investment in our exciting Internet and catalog channels." Darrell Ross will remain the company's largest individual shareholder and continue as the chairman and CEO of Ross-Simons.
"We are very enthusiastic about partnering with Darrell Ross and the management team at Ross-Simons and Gearys," says John Roth, a partner at Freeman Spogli. "The company is at the forefront of the growing trend toward multi-channel retailing and is well positioned to continue to gain market share in jewelry and other product categories." Freeman Spogli & Co. is a private investment firm that invests primarily in retail, direct marketing and service businesses positioned for growth.
- by Julia M. Duncan