Wednesday, July 18, 2007

Lenox Group Inc.’s sterling silver brands, which include Gorham, Kirk Stieff, Whiting and Durgin

Lifetime Licenses Lenox’s Sterling Silver Businesses

GARDEN CITY, N.Y. (July 12) -- Lifetime Brands added more brands to its tabletop business today with the announcement that it has licensed Lenox Group Inc.’s sterling silver brands, which include Gorham, Kirk Stieff, Whiting and Durgin.

The agreement also allows Lenox Group Inc. to continue its strategy to improve its financial picture. Lenox will still use the Gorham brand in non-silver product categories, such as giftware and crystal, which it plans to grow and develop.

“This transaction reflects our strategy of expanding Lifetime’s portfolio of distinctive brands and the product categories in which we participate,” Jeffrey Siegel, chairman, president, and chief executive officer of Lifetime, said in a statement. “The highly regarded sterling silver and silver ornament businesses of Gorham, Kirk Stieff, Whiting and Durgin are a perfect complement to the sterling business we acquired from Syratech Corp. in 2006. We look forward to applying Lifetime’s outstanding brand development and product innovation skills to these prestigious brands.”
http://www.hfnmag.com/?pg=news#409