Silpada founders reacquire jewelry firm with headquarters to stay in Kansas City
They had sold it to Avon in 2010
41 Action News Staff
6:09 PM, Jul 8, 2013
6:49 PM, Jul 8, 2013
LENEXA, Kan. - Local jewelry lovers have reason to celebrate, as the reacquisition of a Lenexa-based sterling-silver jewelry company is made final.
Silpada Designs' two founders, Bonnie Kelly and Teresa Walsh, shared the good news that they have bought back the company from Avon Products on Monday.
Avon bought Silpada in 2010 for $650 million, and as of July 2, the company was reacquired by its founders for substantially less.
At the announcement, they reassured everyone that the Kansas City area is where they belong.
"It's so wonderful that Silpada Designs gets to stay in Kansas City," Silpada Co-President Kelsey Perry said, "This is where we were founded. We have such a Midwest mentality of hardworking, and nice and kind. The opportunity to stay in Kansas City kind of tied the package up in a nice bow. This is where we want to be."
The company was started more than 16 years ago in a home in Overland Park.