NEW YORK and EAST PROVIDENCE – Jewelry and accessories distributor Alliance Time today announced it has acquired the “entire inventory of goods, intellectual property and trademarks from three top brands” of the failed Colibri Group.
“Colibri, Seth Thomas and Linden [Clocks] are well-known brands with a history of quality and consumer appeal – from the ubiquitous Colibri lighter to the iconic Seth Thomas-manufactured clock in Grand Central Station in New York,” Eli Katz, president of the retail division at Alliance Time, said in a statement. Financial details of the deal were not disclosed.
Seth Thomas is the oldest clock manufacturer in the United States, dating back to 1813. The Colibri brand dates back to 1928, and the invention of the world’s first automatic cigarette lighter, and also is well-known as a maker of men’s accessories, jewelry, executive gifts and flasks.
“We believe that their brand recognition, combined with the strength of Alliance Time’s distribution network, will reinvigorate their presence in the marketplace.”
Besides its corporate headquarters in East Providence, Colibri had plants in Cranston and Smithfield. But all three locations shuttered their doors on Jan. 14, after a Manhattan private equity firm successfully petitioned R.I. Superior Court to force the Colibri Group into receivership. (READ MORE) Superior Court Judge Michael A. Silverstein named Allan M. Shine, of Winograd, Shine & Zacks P.C., to serve as its receiver.
When the company closed, about 250 Colibri workers were idled without notice, in what they claim was an illegal action depriving them of the severance benefits they are due under the federal Worker Adjustment and Retraining Notification Act (WARN Act) that covers layoffs of 100 workers or more. (READ MORE) Many of those workers have taken part in heated protests staged by The Colibri Workers for Rights and Justice, an alliance established with the assistance of the nonprofit advocacy groups Fuerza Laboral (Power of Workers) and Rhode Island Jobs with Justice.
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But now, Alliance is reaching out to those workers, asking former Colibri employees to contact them directly – via e-mail to colibri@alliancetime.com– “for background analysis and to investigate potential work opportunities.”
“We would be remiss if we didn’t explore tapping into the people and resources that previously served Colibri, Seth Thomas and Linden well,” Katz said. “We are confident that we can leverage the synergy of our existing infrastructure with the historic legacy of these brands.”
Alliance Time, which has its headquarters on Madison Avenue, describes itself as “a valued and trusted distribution partner of the world’s leading Swiss watch manufacturers,” serving a wide variety of major retail chains and online vendors. It is the exclusive distributor for European watch brands Milleret (www.milleret.ch) and Golana (www.golana.ch).
The company now employs about 150 people, its Web site says.
The Colibri Group Inc. – a Delaware corporation with its headquarters in East Providence – was a designer and maker of jewelry, lighters, timepieces and other luxury accessories via subsidiaries that included Colibri, Daring Diamonds, Dolan Bullock, Krementz Jewelry and the Seth Thomas Clock Co. Additional information is available at www.thecolibrigroup.com.
Alliance Time, founded in 1999, is a New York City-based retail distribution company focusing on mid-range to luxury jewelry, watches and accessories. It is a division of the privately-held Mont d’Or of America. Alliance Time’s brands include European watchmakers Milleret and Golana. Additional information is available at www.AllianceTime.com.
