Silpada Designs Logo - Trademark of Silpada Designs, Inc.
On July 2nd, several media outlets, including Kansas City Business Journal, announced that the original founders of Silpada Designs – Bonnie Kelly and Teresa Walsh – are reacquiring Silpada Designs from Avon Products, Inc.
In July, 2010 Avon agreed to purchase Silpada Designs for $650 million. At the time of the agreement of purchase, Silpad Designs was making $230 million in annual revenue and operated in the United States, Canada and the United Kingdom.
The Kansas City Business Journal reported that the original owners reacquired the company for $85 million, one seventh of the original price. The publication stated that it is unknown why Avon put Silpada Designs on the market; however, it is known that the companies were focused on two different markets.
Here is a brief back story on Silpada Designs, from MLMLegal.com:
Bonnie Kelly and Teresa Walsh are the co-founders of the company. They met when the oldest of each of their three children started first grade. They had both signed up to be room mothers and soon became best friends. They wanted to earn some extra cash and did so through a few business ideas. Silapada (www.mlmlegal.com) was created out of the $25 each one saved from their grocery money. They officially launched in 1997, after they had already had 100’s of home parties for the past six years.
Silpada Designs, Inc. sells jewelry. It works with artisans from around the world that make each piece individual and unique. Silpada Designs, Inc.’s products include rings, watches, belts, necklaces, earrings, and other accessories.
For more information on Silpada Designs, visit the company’s website or read the Silpada MLM company profile.
More headlines and updates on the MLM industry can be found at www.mlmlegal.com and www.mlmattorney.com.
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