Karin Adcock, the former president of Pandora Australia, will close her newly established House of Brands KH business on March 1 due to “personal reasons”.
Announcing her shock decision in an official statement last week, Adcock said ceasing her investment in the business would allow her “to focus on other priorities”.
Adcock founded House of Brands KH in the middle of last year and then re-entered the local jewellery industry with three Danish brands – Julie Sandlau, byBiehl and X by Trollbeads – at the JAA International Jewellery Fair in Sydney.
At the time Adcock told Jewellery World the new company had an “excellent” response at the Fair.
“We had a lot of interest in the new brands we are working with,” she said, “and it was so nice to see many retailers who I have worked with over the years.
“They were curious to see what we are doing and many were excited to see us back in the industry so we can start working together again.”
She said that launching the brands at the Fair was significantly easier than her initial attempts to introduce Pandora to the local market.
“As in any business, relationship building is paramount to success,” she said.
“As we know many retailers in the marketplace we could get straight to discussing the brands we are selling and each brand’s fit with individual stores.
“Additionally, we have certain credibility in the market which many retailers appreciate.”
In last week’s statement, Adcock reiterated that all three jewellery brands had been “positively received in the Australian market”.
“House of Brands KH decision to cease trading is in no way a reflection on the individual brands, or their potential in the Australia and New Zealand markets.”
The three brand-owners are now in “constructive discussions” to continue distribution in Australia and New Zealand, and an announcement on the future distribution of each brand will be made as soon as possible.
In the transition period, each brand-owner will provide support directly for their brand in Australia and New Zealand.
In the statement Adcock also thanked “the many people” who have supported and encouraged her during the start-up phase of House of Brands KH.
She also personally guaranteed that all creditors and any other entitlements will be paid in full.
Apart from the three jewellery brands, House of Brands also distributes Viola Sky lingerie, Fleye eyewear, Yeti outerwear and Nordisk outdoor products.