Qvc Buys Wellington Jewel Firm

Posted: March 20, 1992

A subsidiary of QVC Network Inc., the home-shopping network in West Chester, yesterday acquired Wellington Jewels, a retailer of simulated-diamond jewelry.

Diamonique Corp., the Horsham designer of simulated gemstones, acquired the Wellington Jewels inventory, trademark and other assets from M. Belmont VerStandig Inc., of Washington. The purchase price was not disclosed.

Wellington, a 25-year-old designer brand of 14-carat and 18-carat gold jewelry set with simulated diamonds, is widely known for its advertisements featuring the Hirschfeld caricature of "Madame Wellington."

The division has been phasing out its retail stores in recent years to concentrate on mail-order advertising.

The jewelry will now be sold on QVC's home-shopping television show, which has 42 million U.S. subscribers.

"Wellington is the most expensive line of simulated gemstones; it will diversify and expand our line of gemstone jewelry," said Joseph M. Segel, chairman of QVC Network.

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