Kohls is selling 100,000 of its high-end crystal jewelry, which it bought for $100 million in 2013, according to its filing with the Securities and Exchange Commission.
The jewelry will go to a new buyer, according the filing.
Kohls said in the filing that the Crystal jewelry will be manufactured in the United States.
“The Crystal Jewelry collection consists of an extraordinary selection of crystal jewelry in a variety of designs and finishes, including sterling silver, pearls, diamonds, and more,” the filing said.
“The Crystal jewelry collection was purchased primarily for its value in terms of its quality and its uniqueness, but also for the convenience of the customer and for its ease of use.
A variety of products from the Crystal Jewelries range, including jewelry, necklaces, earrings, bracelets, neckrings, and accessories, will be sold under the Kohls name.”
Kohl’s is a big buyer of sterling silver jewelry, and has sold sterling silver bracelets and necklacing sets.
Its first crystal jewelry purchase, in 2011, was for $5 million.
It has said that the $100-million purchase of the Crystal group was made after the company began to see its sales decline due to the recession and the recession’s impact on consumer spending.
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“With the purchase of Crystal Jeweleries in 2013 we will continue to drive our business to the highest levels,” Kohls said.
For more information on Kohls, visit www.kohlers.com.