Jewelry

[FrostyBabe1]

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@Kachina624 wrote:

When they hand out those MBAs, I wish they'd also require those guys to speak English.  It's like reading a medical journal, you understand about every fifth word. 

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It IS English to those who work in the field. It's common terminology learned in the first 2 semesters of principles of accounting taken as an under grad. 

[FrostyBabe1]

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@Johnnyeager wrote:

Xcel Brands, the Ripka owner, has basically written the brand down after a recent charge and a limited useful life.  It was a fine product years ago.

Effective January 1, 2020, we determined that the Ripka Brand, inclusive of all its trademarks, has a finite life of 15 years, and began to amortize these trademarks on a straight-line basis accordingly. During the year ended December 31, 2020, delays and uncertainty in implementing the brick-and-mortar retail store strategy for a portion of the Ripka Brand, primarily as a result of the novel coronavirus disease pandemic, indicated that the carrying value of the Ripka Brand trademarks may not be recoverable. Therefore, we performed an impairment test of finite-lived intangible assets, and as a result, recorded a $13.0 million impairment charge related to the Ripka Brand trademarks.

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I'm surprised they gave it 15 years. But it likely has more favorable tax implications for them to amortize it over the longer period of time. I'd have to look at their full financials for more definitive info, but I've got no investment in Xcel, so not worth my time. 

[Still Raining]

Didn't they buy it for about $25 million?  So that is some write off.

Looks like they never revalued before, so the 15 year straight line is a tidy amount each year.

The revenue is solely a payment from Q.  

A little optimistic for the next 15 years.

[Neetgal2]

I miss Ann King jewelry.  My pieces are over 20 years old,  held up well and look good.

[FancyPhillyshopper]

From my perspective, there is no difference in the craftsmanship.  Perhaps the labor is cheaper.  

Well, good for Judith to get out when the getting was good.  She took a great buy-out and retired in style.

Judith Ripka was an excellent designer and had a strong impact on the jewelry world.

I am very pleased with all of her gold pieces I have purchased from QVC, but they were not the cheapest.  I love her intricate details--so unique.

I know that most jewelry sales are down, and people are not spending a lot on jewelry unless they are at the 1% income level.

I still miss those old times of non-stop all-day jewelry sales, but everything changes.

[faeriemoon]

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@FancyPhillyshopper wrote:

From my perspective, there is no difference in the craftsmanship.  Perhaps the labor is cheaper.  

Well, good for Judith to get out when the getting was good.  She took a great buy-out and retired in style.

Judith Ripka was an excellent designer and had a strong impact on the jewelry world.

I am very pleased with all of her gold pieces I have purchased from QVC, but they were not the cheapest.  I love her intricate details--so unique.

I know that most jewelry sales are down, and people are not spending a lot on jewelry unless they are at the 1% income level.

I still miss those old times of non-stop all-day jewelry sales, but everything changes.

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@FancyPhillyshopper  I remember the big jewelry day a week or two before Mother's Day.  Those were fun. (And I picked out my share of jewelry!!!)