Just weeks after taking on the local distributorship of UK jewellery brand Lily & Lotty, International Brand Distributors (IBD) has announced its acquisition of Australian jewellery brand Tuskc.
Announcing the acquisition, IBD managing director Hannes Coetsee said the company had been actively searching for a stainless steel brand to add to its portfolio.
“We were looking at an international stainless steel brand for Australia but as I’ve known the Tuskc owners for the last 12 years I know that the company is set-up very well,” he said.
“Although there are a number of issues to deal with, the foundations are quite strong – and hence it’s a good platform to work from.”
Coetsee said the company would adopt “a cautious approach” with the brand in the short term but “within the next five months after our official takeover in September we would like to consult with all agents and retailers in order to strengthen the brand, its image, prospects and future opportunities”.
“As with all our other brands, we will and are working closely with stockists in making sure we can deliver a service and a product that can stand on its own two feet while being mutually beneficial for both parties’ futures.
Tuskc was established in 2009 and was recently included in BRW’s 2013 Fast Starters list.
The brand is currently stocked in 216 stores around Australia but according to Coetsee only “does reasonable business” in about half of them.
Established in 2011, IBD now distributes Ti Sento-Milano sterling silver jewellery, Lily & Lotty sterling silver and diamond jewellery and Tuskc stainless steel jewellery.