BRIELLE, N.J.--Premium Gifts Acquisition LLC, a New Jersey venture
capital firm, has acquired Brielle Galleries, an exclusive, upscale
tabletop store, for an undisclosed amount.
Brielle Galleries' holdings include an upscale retail store, a
widely distributed catalog and a corporate gift division. Its sales last
year were estimated at $10 million, according to industry sources.
Nancy Neumann was named president and chief executive officer of
Brielle Galleries. She previously was vice president of sales and
marketing for Steuben and a consultant with The Albing KV Marketing
Group, a leading market research firm for the tabletop industry, and her
own firm, Neumann Marketing. Ira Jacobson, who founded Brielle in 1950,
will remain active with the firm as head of the retail operation. Duncan
Van Dusen was named manager of business development, a new post. He
previously worked with Premium Gifts, researching technology and
"I am looking forward to working with a new generation of
management," Jacobson said. "I am enthusiastic about the
prospect of generating new business opportunities."
"Ira's 67, and he wanted to see a new generation of
management run the business," Neumann added. "He picked the
group and he liked the management style and where we wanted to take the
business." She said Jacobson has a three year contract to stay with
She noted that the venture capital firm was put together exclusively
for the Brielle acquisition. The investors in the venture capital firm
include private and business investors. Although she would not disclose
who the investors are, she said that many of the investors have
experience in the luxury and gift businesses.
The group wanted to buy Brielle because "it has a very good
reputation among its customer base for high level of service; a very
good reputation for merchandise selection and a very good reputation
among vendors. It's starting in http://www.barringtongifts.co.za a positive position, and we see the
opportunity for growth in all three Brielle divisions."
While she and the firm's management are currently formulating
three-year strategies and growth plans, she said that the firm's
primary area for growth will be its corporate gifts division.
"We're look at changing," she said. "We're
really going to address it as three separate businesses.
"We plan to maintain the national reputation Brielle Galleries
has earned for the quality of its products and services and also develop
additional opportunities for growth in the luxury and corporate gift
markets," Neumann said. "We are exploring ways to satisfy all
the gift purchasing needs of our customers, ease the selection process
and introduce fresh, innovative ideas."
Key Brielle Galleries suppliers include Waterford, Steuben, Tiffany,
Herend and Lladro.
While Neumann was at Steuben, she was responsible for managing the
retail catalog and wholesale divisions, product development, sales
forecasting, advertising, promotion and publicity.